THE DAO - Proposal idea - Create the Ultimate ETH POS pool

CryptyMike

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Quote from: crazyivan on May 23, 2016, 05:38:51 AM

What do u think about DAO price? How is that going to move after ICQ ends next week?

Well, most people bought in at the .00025-.00035 per DAO range I believe. That can be a benchmarket. Hoping that there is a quick 2x pump at the beginning of the ICO

crazyivan

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What do u think about DAO price? How is that going to move after ICQ ends next week?

Mrpumperitis

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https://www.reddit.com/r/ethereum/comments/4kjs73/dao_proposal_idea_create_the_ultimate_eth_pos_pool/

gd discussion here to

peonminer

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Letsssgoo

albert11

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Quote from: crazyivan on May 21, 2016, 05:06:07 AM

Why asking DAO to do that?

Because this way the new money created can be reinvested into the eth eosystem which is not the case today. Imagine if eth mining profit were reinvested to fund devlopement. marketing,etc... OP's idea is very powerfull imo , theDAO doesn't even need to wait for proof of stake to benefit from that, we can just buy a mining farm lol.

Mrpumperitis

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Quote from: bittraffic on May 21, 2016, 11:08:35 PM

Nice! Hope someone from ETH team is reading this thread. This is going to be both beneficial for DAO and ETH.

Thanks m8

Yea i hope they are reading too.
I think over the next week or so, we should try taking this idea to reddit and other ETH/DAO forums and get more people involved.
Hopefully someone from ETH/DAO teams will respond and let us know if this idea is feasible.

bittraffic

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Nice! Hope someone from ETH team is reading this thread. This is going to be both beneficial for DAO and ETH.

Mrpumperitis

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Quote from: Redrose on May 21, 2016, 06:39:18 AM

But isn't the main problem about your idea that Ethereum isn't PoS yet and might never be, or in a few years, after a lot of delays ?

The ETH team estimate it by Q1 2017, maybe with delays we go POS in summer 2017, we will still have DAO funds, we allocate a percentage of ETH from the DAO to go into the pool.
As long as the idea is ready, lots of work to make this happen, we need a good proposal before POS.

Mrpumperitis

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Quote from: crazyivan on May 21, 2016, 05:06:07 AM

What PoS pool? We re still unsure how this is going to work out. Btw, this is a very simple solution, u can do it with your own coins. Why asking DAO to do that?

https://blog.ethereum.org/2016/03/05/serenity-poc2/ more details here

technical
Serenity PoC2
Posted by Vitalik Buterin on March 5th, 2016.
More precise validator induction rules – maximum 250 validators, minimum ether amount starts off at 1250 ETH and goes up hyperbolically with the formula min = 1250 * 250 / (250 - v) where v is the current active number of validators (ie. if there are 125 validators active, the minimum becomes 2500 ETH, if there are 225 validators active it becomes 12500 ETH, if there are 248 validators active it becomes 156250 ETH). When you are inducted, you can make bets and earn profits for up to 30 million seconds (~1 year), and after that point a special penalty of 100 parts per billion per block starts getting tacked on, making further validation unprofitable; this forces validator churn

i will be staking coins, many people will be
The ultimate pool has a few aims,
give ETH from pos to DAO holders,
lock up DAO eth coins and avoid them being dumped on market for every new project
give ETH POS the biggest pool to help with security for the network.
It is early days but we should begin exchanging ideas and try to make this happen before POS kicks in.

Redrose

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But isn't the main problem about your idea that Ethereum isn't PoS yet and might never be, or in a few years, after a lot of delays ?

crazyivan

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What PoS pool? We re still unsure how this is going to work out. Btw, this is a very simple solution, u can do it with your own coins. Why asking DAO to do that?

Mrpumperitis

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Quote from: WastedLTC on May 20, 2016, 06:55:18 AM

Quote from: 110110101 on May 20, 2016, 01:58:42 AM

Quote from: Mrpumperitis on May 19, 2016, 06:48:08 PM

I would like to create a proposal and am looking for people that can help make this happen.

Hi man, the idea isn't too bad, it's just how it could be implemented. By buying eth, wouldn't the DAO need to first liquidate some of it's current holding which are eth? Eg. sell eth to buy eth?

Don't forget, if you stake it, wouldn't that mean you would need to trust someone with that much eth? or would you need to create a huge multisig walllet and then stake it? I guess we won't know until we change to POS.

Im hoping THE DAO can eliminate the need for trust. Code could be written to allow some way to pay ETH directly to the DAO addresses. If there is a need for a third party, i would request it from the ETH and DAO teams to create and secure the pool.

Mrpumperitis

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Quote from: 110110101 on May 20, 2016, 01:58:42 AM

Quote from: Mrpumperitis on May 19, 2016, 06:48:08 PM

Hi man, the idea isn't too bad, it's just how it could be implemented. By buying eth, wouldn't the DAO need to first liquidate some of it's current holding which are eth? Eg. sell eth to buy eth?

Yea , we could dump ETH and buy cheaper ,lol but the other more prefered option would be use $10-$20mill of DAO ETH that we currently have.
The idea is only at brainstorming stage , hopefully if there is enough peeps that like the idea , we all work towards making it happen.

WastedLTC

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Quote from: 110110101 on May 20, 2016, 01:58:42 AM

Quote from: Mrpumperitis on May 19, 2016, 06:48:08 PM

I would like to create a proposal and am looking for people that can help make this happen.
My idea is beneficial to all DAO and ETH holders.
I propose that THE DAO spends 10% of its holdings on buying ETH asap.
The ETH will not be for sale.
The ETH will be put to use in a POS pool and all profits ( mining rewards in ETH ) will be equally distributed back to THE DAO holders.
This will give DAO holders a guaranteed side income in ETH while other projects are working away ( some could take over a year before any return )
The ultimate pool will also benefit the ETH POS stage by giving it a large amount of ETH to secure the network.
Thanks guys

Hi man, the idea isn't too bad, it's just how it could be implemented. By buying eth, wouldn't the DAO need to first liquidate some of it's current holding which are eth? Eg. sell eth to buy eth?

Don't forget, if you stake it, wouldn't that mean you would need to trust someone with that much eth? or would you need to create a huge multisig walllet and then stake it? I guess we won't know until we change to POS.

110110101

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Quote from: Mrpumperitis on May 19, 2016, 06:48:08 PM

I would like to create a proposal and am looking for people that can help make this happen.
My idea is beneficial to all DAO and ETH holders.
I propose that THE DAO spends 10% of its holdings on buying ETH asap.
The ETH will not be for sale.
The ETH will be put to use in a POS pool and all profits ( mining rewards in ETH ) will be equally distributed back to THE DAO holders.
This will give DAO holders a guaranteed side income in ETH while other projects are working away ( some could take over a year before any return )
The ultimate pool will also benefit the ETH POS stage by giving it a large amount of ETH to secure the network.
Thanks guys

Hi man, the idea isn't too bad, it's just how it could be implemented. By buying eth, wouldn't the DAO need to first liquidate some of it's current holding which are eth? Eg. sell eth to buy eth?

Mrpumperitis

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Quote from: Gyrsur on May 19, 2016, 07:12:04 PM

Quote from: Mrpumperitis on May 19, 2016, 07:07:32 PM

Quote from: Ab-Soul on May 19, 2016, 06:57:36 PM

Seems reasonable if DAO holders can earn more with this project proposal.
Do ETH POS profit a lot? How much percentage per month we are talking about here?

im not sure on the POS profits m8, i dont think anyone knows yet.
However im very certain come POS stage ETH could be around $50 min and maybe over $100 each - so it should be worth it.
This idea will need help from the ETH devs and Dao devs aswell as full community support.
I feel all three parties can work together and all benefit each other autonomously.

yes, printing money out of thin air.

bubble will burst soon.

wow first troll, welcome Kiss

lol cmon m8 u must agree its a gd idea

Gyrsur

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Quote from: Mrpumperitis on May 19, 2016, 07:07:32 PM

Quote from: Ab-Soul on May 19, 2016, 06:57:36 PM

Seems reasonable if DAO holders can earn more with this project proposal.
Do ETH POS profit a lot? How much percentage per month we are talking about here?

im not sure on the POS profits m8, i dont think anyone knows yet.
However im very certain come POS stage ETH could be around $50 min and maybe over $100 each - so it should be worth it.
This idea will need help from the ETH devs and Dao devs aswell as full community support.
I feel all three parties can work together and all benefit each other autonomously.

yes, printing money out of thin air.

bubble will burst soon.

Mrpumperitis

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Quote from: Ab-Soul on May 19, 2016, 06:57:36 PM

Seems reasonable if DAO holders can earn more with this project proposal.
Do ETH POS profit a lot? How much percentage per month we are talking about here?

im not sure on the POS profits m8, i dont think anyone knows yet.
However im very certain come POS stage ETH could be around $50 min and maybe over $100 each - so it should be worth it.
This idea will need help from the ETH devs and Dao devs aswell as full community support.
I feel all three parties can work together and all benefit each other autonomously.

Ab-Soul

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Seems reasonable if DAO holders can earn more with this project proposal.
Do ETH POS profit a lot? How much percentage per month we are talking about here?

Mrpumperitis

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Activity: 2758

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I would like to create a proposal and am looking for people that can help make this happen.
My idea is beneficial to all DAO and ETH holders.
I propose that THE DAO allocates minimum 10% of its ETH for POS pool.
The ETH will not be for sale.
The ETH will be put to use in a POS pool and all profits ( mining rewards in ETH ) will be equally distributed back to THE DAO holders.
This will give DAO holders a guaranteed side income in ETH while other projects are working away ( some could take over a year before any return )
The ultimate pool will also benefit the ETH POS stage by giving it a large amount of ETH to secure the network.
Thanks guys

Topic: THE DAO - Proposal idea - Create the Ultimate ETH POS pool (Read 1978 times)