Autonomous corporation “The DAO” has become the biggest crowdfunded project

Post by rabbyte » Tue, May 17, 2016, 1:31 AM UTC

street wrote: post #116

benjaminmbrown wrote: post #110

Earlier quoted context omitted.

It actually did go down 50% from $15ish to $6ish and recovered. Early adopters trying to get rich = all early stage investing so what's your point?

That's because of the tiny liquidity. Nowhere near $120 million was sold, and it still lost 50%. Now try selling tens of millions worth, and see what happens.

Post by tim333 » Tue, May 17, 2016, 1:50 AM UTC

Bjorkbat wrote: post #44

An interesting concept, but I'm not buying the hype. At the end of the day a bunch of people bought shares in a company (or did they? Legality is weird) with the special condition that in addition to owning a share of said company they also get to vote on what the company actually does, and even submit proposals for what it should do. Oh, and they also bought said shares with cryptocurrency. Magic internet money guys…

Post by drcode » Tue, May 17, 2016, 1:54 AM UTC

TD-Linux wrote: post #151

drcode wrote: post #4

Earlier quoted context omitted.

I think you're asking "what happens when someone captures 51% of the voting shares?" - This is actually the #1 problem with these types of systems, since the majority could just vote to put 100% of the funds into their own bank account. The slockit-authored DAO in the article addresses this through two failsafes: 1. Shareholders can vote to split the company in two at any point to extricate their funds from majority…

>2. There is an extra layer of "curators" (kind of a misnomer) who are trusted members in the community who make sure payments aren't being funneled through an intermediary to a majority shareholder. If there are humans involved that can exercise this level of control over The DAO, is it really autonomous?

Post by aianus » Tue, May 17, 2016, 2:11 AM UTC

c2315261 wrote: post #118

drcode wrote: post #89

Earlier quoted context omitted.

So you're saying the intrinsic value is certain to be lower than it's current market value? I have good news for you: You can become rich by simply shorting ether on Kraken and Poloniex!

You're completly disregarding that timing is far more important than simply knowing that there will be a downward correction. The shorting fees will end up being consuming a large chunk of the profit even though you sold a hundred thousand ether coins at $11 and bought them back at $1.

Post by fapjacks » Tue, May 17, 2016, 2:47 AM UTC