Topic: Why would anyone buy this DAO crap? - page 2. (Read 6491 times)

It seems logical that since the voters can't actually perform the expertise of a skilled manager, the DAO is structurally indistinguishable from an electronic voting technology implementing the traditional corporate management structure. Otherwise without corporate management structure, the chaos and failure of a divergent unmanaged, disorganized, inept structure.

You did not answer my question. You've written that there is a decentralized protocol for slotting presumably funding decisions on a decentralized ballot. Thank you for that information.

Your answer does not explain “who decides how ... issues are organized”. I clarified that such a decentralized ballot process can't organize issues, because the crowd is by definition an abrogation of the inexorable march towards increasing maximum-division-of-labor. That is just factoring in the divergence of lack of focused expertise in a decentralized ballot process. Add to that the knowledge from history from which follows the insight that politics diverges towards the most inefficient process possible.

Contrast a DAO with a DVCS open source project in which peered experts collaborate in a decentralized process; which is the only known convergent positive scaling rule for software development structure. DVCS open source development is a viable decentralized process. Voting is not, because it requires a centralized management structure.


The solid as granite understanding that politics divergences from optimum outcomes does not require any crystal ball.

“Those who do not learn history are doomed to repeat it.” — George Santayana

Anyone "could" become one of these great things, but few people will. The ability to do a thing does not confer the prowess to see that thing through. Most businesses fail, the reason for this is that they are mismanaged. Not that the initial idea was poor in any way. Business is a degree for a reason.

Ethereum is a wonderful idea. I have never said otherwise. I just don't think the idea of a Corp that functions independent of a trained director or board is a good idea. Also, unless the blockchain is about to grow legs and arms to sign some contracts and pay some bills, you will need human actors to perform real world functions, and oracles to report binary outcomes back to the blockchain. Human actors are subject to fail. We aren't even talking about coercion or subversion.

To me, the DAO only seems to provide a more elegant form of voting rights in a Corp. A token is a share, with voting rights. What else does this token do besides that? Despite all the innovation that eth may provide once it's potential is fully realized, this token is a tradeable voting share of a company that's on a public, verifiable ledger.  

Kinda like a stock.

Which makes this a security.

An illegal security, as it is not regulated by the SEC.

Yahoo is still crazy popular outside the States, btw.

Doesn't matter to these investors as profit taking is the whole idea now.
What could go wrong though is if this DAO will eventually make its way up like how ETH is doing. BTC would be left behind if it weren't because of the halving that users are waiting. But lets wait after all profit taking is the game.

"Anyone" could become the next Apple.
"Anyone" could become the next Google.
"Anyone" could make millions of dollars.
"Anyone" could build the next best crypto currency.

Surely it is impossible that a alt coin is useful and taking off - surely impossible that the development team are actually developing and pursuing to take a chunk out of a trillion+ dollar industry?

The internet will never take off, what a bubble - what a bust.

Don't kid yourself while I love Bitcoin Yahoo is still valued more - I mean who uses Yahoo right? Yet Bitcoin is still pretty big sitting at 7 billion.

The potential for Ethereum to grow the size of Bitcoin is very real.

Bitcoin is just used by criminals remember? 

Before I jump overboard, let me say uber is testing autonomous evs as we speak, sans blockchain. Teslas latest offering is also of the same vein. No company in this space has the r and d or capital expenditure to compete with either of these behemoths.

Blockchains are publically verifiable ledgers. If you don't really need a public ledger, you don't need a blockchain.

If the technology existed (these vehicles), I could simply call up an agent that owns these vehicles, rent the same fleet with my credit card, and flirt merrily from point A to point B. After which the car could return to its point of origin, or blow up, I give a wit either way. Simply trying to convey there are myriad more mundane and recognized technologies that don't need to be developed in order to do this. Some of the use cases seem almost a stretch to implement blockchain technology.

It's not that I'm not passionate about what bitcoin means to the future. It's just tempered with practicality.


Also, from experience, you don't want code spending money for you. You want code to indicate to you how or when you should spend your money. So that you can weigh variables outside the code, and use your intuition to decide.

Oh yeah. That swim.

splash

The amount of ethereum invested in the DAO far exceeds what has been mined if you discount the genesis block. Whoever actually controls the majority of ethereum can pump money into the DAO as well as manipulate the ETH price to make people think it is so much better than it actually is. Do the math then come back and tell me how great and popular it is...

Personally I smell pump and dump all over this thing.

Huh ? What is wrong with you man. You can't foretell the future ?

~LOL~

Au contraire, we have seen the potential AND the hype and have learned to distinguish between the two.

Zer0Sum nailed it.

You asked one question, and I answered it. Now you are asking another question, which unfortunately can not be answered in an objective manner because the answer lies not in code but in speculation about future events.

To release the agreed bounty, a quorum of neophyte investors will vote to on whether the pull request submitted by the contracted programmer meets the requirements of the specification we originally approved by a prior vote? We will not depend on any experts to advise us? This will magically all coordinate itself in a decentralized manner without any de facto leaders emerging?

Whomever designed the DAO doesn't comprehend the how and why politics doesn't work.

“An elephant: A mouse built to government specifications.” — Lazarus Long

“A Snail: Monero built with decentralized donations.” — SOMAcoin

the eth price  is very high right now
is it still worth to invest?

Well said.

The fact is, the reprobate specimens who frequent this forum are mostly scammers and promoters of fake and broken shitcoins,  it's natural that they would act in a churlish manner towards a crypto with genuine application in the real world.  The fucking tossers should get in the fucking sea

Why not croudfound a DAO with the DAO ?  

This is a perpetuum mobile for money


Why exactly we need to buy bitcoin to buy ether to buy DAO to buy a share in a company. WTF?

You guys don't see the full potential of the blockchain. Anyone could create an autonomous organization of self driving cars when the technology will be ready. You would use such car to go from point A to point B and pay it. Then, the car could charge or fuel back itself, and if it made profit even buy another car to add to "its" fleet (or expand the general fleet, depending on the code).

Another example of autonomous organization could be a email spamming system. Corporation would use such AO to advertise themselve, and the AO i don't know with what kind of algorithm, would provide the service.

I don't know how can someone stay that long on the forum of bitcoin and so the blockchain technology, without first being interested in the technology and then passionated about its possibilities.

The algorithm does. Any token holder can submit a proposal and open proposals are displayed in descending order by the amount of deposit paid.

.

What, in the blue fuck, is that? Dammit people, the blockchain can't solve every fucking thing. That's a toy as far as I'm concerned, pardon my ignorance if I have failed to see the use case for a robotic power wheel.

There are too many vastly superior companies making autonomous EVs. And a blockchain is wholly unnecessary, why does there need to be a ledger of the rentals?

Do you care who rented the red box end before you did? Do the shareholders care? Does anyone honestly care?

This is the big #2 proposal that is driving DAO lemmings-jump-off-the-cliff-and-drown-in-the-sea mass suicide.
 
It's almost impossible to exaggerate how retarded this is...
Or how blockchain unsuitable maintaining fleets of cars is (why stop here, let's manage an airline with Solidity code).

Would you put someone you care about into this contraption?

And as for the claims of instant profits, sorry, no free lunch...
You can withdraw your ETH at 100 DAO per ETH... if you paid 1.5 ETH per 100 you will take a 50% loss.

I suspect that >>> 50% of the DAO investments will be pulled out within weeks...
But the SuperBubble masters will have succeded in popping ETH by 50% in the last month.

Please note that all that heavy buying... is matched by heavy selling and profit taking.

I'm glad it's not all RAHRAHRAH for Dao as people so easily blinded at times.
I mean I "think" it could see amazing results but will it.....esp with as described above.

It is obvious that a DAO can't function with decentralized control. Even the voting requires some centralized organization.

If you argue that proof-of-stake is not a decentralized protocol, you must also argue that Bitcoin's mining is not centralized, because the FinCEN guidance explicitly mentioned "computer computation" in the definition of decentralized virtual currencies.

More discussion: https://bitcointalksearch.org/topic/m.14899137