Topic: The Slock.it Token Sale (Read 776 times)
I'd like to think an investment from the DAO would be incredibly beneficial for my organization and we have paid out BTC on a weekly basis for nearly 4 years now... It remains to be seen who is in control of the voting rights and which projects they deem worthy.
This brings about the issue of governance. The majority can not be trusted to simply "select" winning investments because the public is not an expert. A million uneducated opinions does not a cogent decision make. Democracy is cool, but you will notice the most popular money making assets are not governed in this way...
Exactly.
In 2015, NXT was voted here the "most promising" alt (RIP)... and in 2016 it's Ethereum.
The DAO (which is gonna suck in about 20% of all ETH), is just the NXT AE Mook Skinner on steroids...
Instead of NXT insiders ripping off $10 million and producing zero revenue after 2 years...
ETH insiders are gonna rip off $100 million... and 2 years from now we will see zero revenue.
Coders and smart contracts and EVMs do not produce revenue...
Experienced businessman and promoters and targeted advertising of real world products = revenue.
Ethereum is still gonna succeed because many real companies like Consensys, Eris (with > 50 employees) are building on it...
But the DAO is just an absurd manufactured superbubble to speculate on... like 90% of all crypto.
BTW, democracy is a little different and works OK...
Because most adults are pretty good at analyzing people and candidates (see Trump and Hillary)...
But the unwashed masses "selecting winning investments" of extreme complexity = classic example of "artificial stupidity".
Wouldnt that be a waste of everybodies time?
Especially for the bodies.
The DAO is (ikely) going to contract Slock.it to build what it is calling the Universal Sharing Network. This is basically a set of APIs that will allow any devices to interact with contracts on the blockchain to make transactions. This has the potential to be the backbone infrastructure of the IoT. The DAO will get a small percentage of every transaction that takes place on the USN.
Sock.it will then go on to build smart locks completely separately and profit off the sale of those. Transactions that those smart locks are involved in will use the USN and therefore generate small amounts of recurring revenue.
Anyone and everyone will then pile on creating devices and apps that interact with the USN, generating more revenue for the DAO.
At the heart of all this is the Ethereum Computer device that will also be designed by Slock.it and made open source so anyone can manufacture. This is a device that is similar in nature to the Bitcoin Computer that 21 Inc makes.
Actually, most of 21 Inc's use cases are similar to what the DAO + Slock is trying to do here. The main difference is that Ethereum can do these largely with on-chain contracts while 21 Inc is writing apps sitting beside the blockchain and interacting with it.
Sock.it will then go on to build smart locks completely separately and profit off the sale of those. Transactions that those smart locks are involved in will use the USN and therefore generate small amounts of recurring revenue.
Anyone and everyone will then pile on creating devices and apps that interact with the USN, generating more revenue for the DAO.
At the heart of all this is the Ethereum Computer device that will also be designed by Slock.it and made open source so anyone can manufacture. This is a device that is similar in nature to the Bitcoin Computer that 21 Inc makes.
Actually, most of 21 Inc's use cases are similar to what the DAO + Slock is trying to do here. The main difference is that Ethereum can do these largely with on-chain contracts while 21 Inc is writing apps sitting beside the blockchain and interacting with it.
User: Stark
Date Registered: May 24, 2013
First Post: February 2016
Would you agree to a debate with AnonyMint on live chat video so he can demonstrate that you use words you don't understand?
Quote from: AnonyMint
Please tell us what they need to actually maintain a concensus Nash equilibrium?
How can a consensus algorithm validate any datum which is formed external to the relativity of the block chain? It can't.
How can a consensus algorithm validate any datum which is formed external to the relativity of the block chain? It can't.
Wouldnt that be a waste of everybodies time?
The DAO is (ikely) going to contract Slock.it to build what it is calling the Universal Sharing Network. This is basically a set of APIs that will allow any devices to interact with contracts on the blockchain to make transactions. This has the potential to be the backbone infrastructure of the IoT. The DAO will get a small percentage of every transaction that takes place on the USN.
Sock.it will then go on to build smart locks completely separately and profit off the sale of those. Transactions that those smart locks are involved in will use the USN and therefore generate small amounts of recurring revenue.
Anyone and everyone will then pile on creating devices and apps that interact with the USN, generating more revenue for the DAO.
At the heart of all this is the Ethereum Computer device that will also be designed by Slock.it and made open source so anyone can manufacture. This is a device that is similar in nature to the Bitcoin Computer that 21 Inc makes.
Actually, most of 21 Inc's use cases are similar to what the DAO + Slock is trying to do here. The main difference is that Ethereum can do these largely with on-chain contracts while 21 Inc is writing apps sitting beside the blockchain and interacting with it.
Sock.it will then go on to build smart locks completely separately and profit off the sale of those. Transactions that those smart locks are involved in will use the USN and therefore generate small amounts of recurring revenue.
Anyone and everyone will then pile on creating devices and apps that interact with the USN, generating more revenue for the DAO.
At the heart of all this is the Ethereum Computer device that will also be designed by Slock.it and made open source so anyone can manufacture. This is a device that is similar in nature to the Bitcoin Computer that 21 Inc makes.
Actually, most of 21 Inc's use cases are similar to what the DAO + Slock is trying to do here. The main difference is that Ethereum can do these largely with on-chain contracts while 21 Inc is writing apps sitting beside the blockchain and interacting with it.
User: Stark
Date Registered: May 24, 2013
First Post: February 2016
Would you agree to a debate with AnonyMint on live chat video so he can demonstrate that you use words you don't understand?
Quote from: AnonyMint
Please tell us what they need to actually maintain a concensus Nash equilibrium?
How can a consensus algorithm validate any datum which is formed external to the relativity of the block chain? It can't.
How can a consensus algorithm validate any datum which is formed external to the relativity of the block chain? It can't.
The DAO is (ikely) going to contract Slock.it to build what it is calling the Universal Sharing Network. This is basically a set of APIs that will allow any devices to interact with contracts on the blockchain to make transactions. This has the potential to be the backbone infrastructure of the IoT. The DAO will get a small percentage of every transaction that takes place on the USN.
Sock.it will then go on to build smart locks completely separately and profit off the sale of those. Transactions that those smart locks are involved in will use the USN and therefore generate small amounts of recurring revenue.
Anyone and everyone will then pile on creating devices and apps that interact with the USN, generating more revenue for the DAO.
At the heart of all this is the Ethereum Computer device that will also be designed by Slock.it and made open source so anyone can manufacture. This is a device that is similar in nature to the Bitcoin Computer that 21 Inc makes.
Actually, most of 21 Inc's use cases are similar to what the DAO + Slock is trying to do here. The main difference is that Ethereum can do these largely with on-chain contracts while 21 Inc is writing apps sitting beside the blockchain and interacting with it.
Sock.it will then go on to build smart locks completely separately and profit off the sale of those. Transactions that those smart locks are involved in will use the USN and therefore generate small amounts of recurring revenue.
Anyone and everyone will then pile on creating devices and apps that interact with the USN, generating more revenue for the DAO.
At the heart of all this is the Ethereum Computer device that will also be designed by Slock.it and made open source so anyone can manufacture. This is a device that is similar in nature to the Bitcoin Computer that 21 Inc makes.
Actually, most of 21 Inc's use cases are similar to what the DAO + Slock is trying to do here. The main difference is that Ethereum can do these largely with on-chain contracts while 21 Inc is writing apps sitting beside the blockchain and interacting with it.
I agree. The technology is really cool. I just don't understand who it's going to make money. Maybe I'm slow.
bump
So, I've just recently come to the party concerning the DAO token sale concerning slock.it. If I'm understanding correctly, slock.it primarily produces their "smart lock" product, a lock that can apparently be unlocked via blockchain. Now, with no salt, I think this is a great idea, but it seems like this could be solved by too many existing technologies (paying for an otp to be sent to your device to use as an unlock code for example). Which leads me to the other side of this virtual coin , the DAO.
Now, the overarching concept is just fucking grand. The idea of blockchain demonstrable shareholder voting and asset transfer sans exchange makes me hard a bit. But, the profit generation scheme to me seems to be non existent. So, this ridiculous amount of money is going to be invested into various startups , which is cool, but at the moment there isn't really that much innovation in the space that brings value to the consumer, that is, providing a new service, or an existing service more efficiently. I also have concerns about the voting aspect. As we have seen with countless other systems of share based voting, there will be x individuals (x is usually equal to ten or less) that control the majority of the votes and subsequently, will have their wills exercised in the voting process. The "corporate voting for the people" warm fuzzy feeling that comes with this kind of dies with that revelation. What happens when factions form and there is dissent among the top share holders (kinda like the block size issue here at home)?
This brings about the issue of governance. The majority can not be trusted to simply "select" winning investments because the public is not an expert. A million uneducated opinions does not a cogent decision make. Democracy is cool, but you will notice the most popular money making assets are not governed in this way (see Google and Apple). Sure, you may have a grip of shares, but you never have as many as the founder or the company principles, which is the point. It's their million dollar baby. So they will coddle it, and feed it until it can walk on its own or falls on its face.
So, I may invest in this because like everything in this sphere, people are chomping at the bits to throw money at it, and beyond the shadow of a doubt the price will increase before it decreases. With that being said, I dont have confidence in this asset long term as I fail to see a clearly defined plan of profit, and this asset is entirely too overhyped, which I think will cause unnecessary volatilty. What do you guys think? No one line cheerleading responses please, and no basement dwelling trolls. Am I being too pessimistic in my appraisal of the voting process? Do you think there will be projects worth even funding (slock.it would not get my money if it was an exchange traded stock).
I'm all ears
Now, the overarching concept is just fucking grand. The idea of blockchain demonstrable shareholder voting and asset transfer sans exchange makes me hard a bit. But, the profit generation scheme to me seems to be non existent. So, this ridiculous amount of money is going to be invested into various startups , which is cool, but at the moment there isn't really that much innovation in the space that brings value to the consumer, that is, providing a new service, or an existing service more efficiently. I also have concerns about the voting aspect. As we have seen with countless other systems of share based voting, there will be x individuals (x is usually equal to ten or less) that control the majority of the votes and subsequently, will have their wills exercised in the voting process. The "corporate voting for the people" warm fuzzy feeling that comes with this kind of dies with that revelation. What happens when factions form and there is dissent among the top share holders (kinda like the block size issue here at home)?
This brings about the issue of governance. The majority can not be trusted to simply "select" winning investments because the public is not an expert. A million uneducated opinions does not a cogent decision make. Democracy is cool, but you will notice the most popular money making assets are not governed in this way (see Google and Apple). Sure, you may have a grip of shares, but you never have as many as the founder or the company principles, which is the point. It's their million dollar baby. So they will coddle it, and feed it until it can walk on its own or falls on its face.
So, I may invest in this because like everything in this sphere, people are chomping at the bits to throw money at it, and beyond the shadow of a doubt the price will increase before it decreases. With that being said, I dont have confidence in this asset long term as I fail to see a clearly defined plan of profit, and this asset is entirely too overhyped, which I think will cause unnecessary volatilty. What do you guys think? No one line cheerleading responses please, and no basement dwelling trolls. Am I being too pessimistic in my appraisal of the voting process? Do you think there will be projects worth even funding (slock.it would not get my money if it was an exchange traded stock).
I'm all ears
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