Is this a cult?
Only in so far as a traditional company, like Apple, might be a cult.
The DAO close to $100m in funding. Soon to be the largest crowdfunding ever
81–84 of 84 posts
Re: The DAO close to $100m in funding. Soon to be the largest crowdfunding ever
#82Wikipedia to the rescue (give or take): https://en.wikipedia.org/wiki/The_DAO_(organization)
If you're still trying to figure it out, this is what "The DAO" is, in programming code. No more, no less. Money in, wonderful things out. :) It will seem like magic to most.
https://etherscan.io/address/0xbb9bc244d798123fde783fcc1c72d...
Re: The DAO close to $100m in funding. Soon to be the largest crowdfunding ever
#83This is just bonkers: >By Creating DAO tokens through interaction with The DAO’s smart contract code, you expressly agree to all of the terms and conditions set forth in that code. If you do not understand or do not agree to those terms, you should not Create DAO tokens. They are saying you need to fully understand all the code, in order to responsibly decide whether you should click a button. But the code is off som…
The code is here: https://github.com/slockit/DAO/blob/master/DAO.sol Also pretty much entirely contained in the whitepaper.
The fact that you can post a github link here tells me nothing. And that code is atrocious, but that isn't even the point. The point is there's no way people are vetting this code that they are signing up to be bound by. It's utterly insane to hand money over to this thing.
Re: The DAO close to $100m in funding. Soon to be the largest crowdfunding ever
#84This is just bonkers: >By Creating DAO tokens through interaction with The DAO’s smart contract code, you expressly agree to all of the terms and conditions set forth in that code. If you do not understand or do not agree to those terms, you should not Create DAO tokens. They are saying you need to fully understand all the code, in order to responsibly decide whether you should click a button. But the code is off som…
The code that defines the contract is publicly viewable on the blockchain. [1] [1]: https://etherscan.io/address/0xbb9bc244d798123fde783fcc1c72d...
How does that help, when the code is super shitty but people are still signing up?