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Topic: [ANN][slock.it][Company] IoT meets blockchain - A TheDAO proposal - page 33. (Read 66180 times)

sr. member
Activity: 434
Merit: 250
the big problem here is that ETH ICO holders from 2014 will be able to dominate the DAO allocation. with ETH at $9/ $10 new entrants will be at a serious economic and therefore voting disadvantage. it's engineered from the outset to favour the few over the many. very unbalanced indeed.
legendary
Activity: 1382
Merit: 1002
what are the voting thresholds of the DAO?

if a couple of whales take large blocks of 'shares' that guarantee that their preferences are passed due to their voting power over the other stakeholders where's the true democracy? they could direct the DAO to fund their own company and syphon off the ICO funds. if the identities of DAO 'shareholders' are unknown then fraud is a possibility.

From https://daohub.org/voting.html
Quote
Accepting a Proposal requires a majority decision after a debating period of two weeks minimum, and a participation rate of 20% or higher calculated proportionally to the value of ETH requested in the Proposal.

So yes, one or more large holders could potentially sweep in and affect the outcome of a proposal. As for whales setting up their own proposals seeking investors, sure they can. But it's then up to the rest of the investors to go through the proposals and vote for or against said proposal. I guess will we have to see how this all plays out once the DAO has launched.

As a comparison, looking to how the budget proposal voting works in DASH, each proposal has to be voted up before any funding can be paid out. There is a threshold that goes up so the proposal has to have a % more YES than NO, not just a general 20% yes based on the value of the proposal. Say for instance a proposal has 20% yes and 15% no, it will most likely not get passed in the DASH system.
sr. member
Activity: 434
Merit: 250
what are the voting thresholds of the DAO?

if a couple of whales take large blocks of 'shares' that guarantee that their preferences are passed due to their voting power over the other stakeholders where's the true democracy? they could direct the DAO to fund their own company and syphon off the ICO funds. if the identities of DAO 'shareholders' are unknown then fraud is a possibility.
legendary
Activity: 1190
Merit: 1004



I wonder if this DAO could be abused as a way for a  company to get free funding. Do we even get equity shares in slock.it?


sr. member
Activity: 347
Merit: 258
Founder of PROCOMMERCE.IO
hero member
Activity: 980
Merit: 502
Can DAO go mainstream?
legendary
Activity: 924
Merit: 1000
So I read you can buy DAO with BTC on Bittrex. Anyone knows more about how it works? is there a tutorial from bittrex or something similar?

Log in on Bittrex, then go to

https://bittrex.com/balance/dao

there you can buy DAO tokens with ETH.

Thanks a lot for the link! It cut short a lot of hassle for me. Smiley
sr. member
Activity: 743
Merit: 250
Pretty impressive numbers so far.
hero member
Activity: 980
Merit: 502
This is a definite investment for me  Smiley
sr. member
Activity: 462
Merit: 250
Following your project mate, good luck to all investors
legendary
Activity: 1453
Merit: 1030
I've heard that a lot of people are betting even bigger on Slock.it than they did with Ethereum. $13.60 Million dollars raised so far. This is a definite investment for me. Can't miss this train like I did with ETH.  Cheesy

You're assuming those 1,4 million Ethers can all be sold for 0.02 BTC. That's obviously not the case, as this would crash all markets.
sr. member
Activity: 1386
Merit: 250
1XBit.com
how will be the % possibilities of price under 1/100 when ico ends?
sr. member
Activity: 336
Merit: 250
This is gonna be so much fun when trading starts.
sr. member
Activity: 294
Merit: 250
SynqCrypto Team
Invested with some ETH I couldnt help it.  Smiley
full member
Activity: 159
Merit: 100
hero member
Activity: 532
Merit: 500
I've heard that a lot of people are betting even bigger on Slock.it than they did with Ethereum. $13.60 Million dollars raised so far. This is a definite investment for me. Can't miss this train like I did with ETH.  Cheesy
legendary
Activity: 2590
Merit: 1089
Very Simple

ETH in Exhange => ETH wallet => https://daohub.org/index.html
30 seconds you can check the amount of tokens bought with inputing ETH address Smiley

That's simple Smiley
hero member
Activity: 1080
Merit: 500
not only wallet, u can buy with BTC via Gatecoin and Shapeshift or with USD, EUR,CHF via bittrrex and gate coin Smiley

but recommend use ETH to buy DAO.
sr. member
Activity: 1386
Merit: 250
1XBit.com
13 millions $ in 2 days   Shocked Shocked Shocked
sr. member
Activity: 397
Merit: 250
The Experience Layer of the Decentralized Internet
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