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Offline progmac

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Creating a DAC that sells juice
« on: February 24, 2014, 05:55:32 PM »

I should start off by saying that my general knowledge on DACs and Cryptocurrency is nothing compared to the regulars here. I have no special technical abilities or knowledge whatsoever. Just a guy trying to wrap his head around big ideas.

Say someone wants to start a juice factory (I figured I could leave the term 'widget' to my college text books). Could they create a DAC wherein the service giving value is the demand of the juice?

If I am Mr. JuiceDreamer, would I start JuiceCoin (company A) and then start JuiceCoinTalk (company B)? On JuiceCoinTalk maybe I'd discuss how Avocado-Sweet Potato Juice will overtake the industry. People might think, yes, I believe this juice will be popular and then maybe they'd invest in some JuiceCoin. 

After people seem intrigued by JuiceCoin, would Mr. JuiceDreamer then use some of his JuiceCoin profits to start JuiceEnterprises (company C)? Say the Juice Factory needs 1000BTC in capital and start-up inventory to create its first box of juice. Say further that JuiceCoin holders believe Mr. JuiceDreamers ideas and want to contribute to the project. How do we get from individuals holding JuiceCoins to individuals having some kind of interest in JuiceEnterprises?

What big picture ideas am I missing? What is BitShares roll in all of this? Could a DAC sell juice? Would Mr JuiceDreamer end up in jail?

if you want to support my incoherent ramblings
Bitshares PTS: PrziMMpXMMu948j5H7yvj3Ry8mnZBbsMYR

Offline graffenwalder

Re: Creating a DAC that sells juice
« Reply #1 on: February 24, 2014, 06:28:00 PM »
You got the C right out of DAC.

A DAC is 100% code.  I think you're missing the autonomous part.

So if mr juice boy starts a company, it wouldn't be a DAC.

An easier example of a DAC is bitshares itself, once launched it's a decentralized exchange which runs on it's own.

Bitshares is just the first DAC by Invictus, it's not connected to other DAC's.
« Last Edit: February 24, 2014, 06:31:01 PM by Graffenwalder »

Offline progmac

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Re: Creating a DAC that sells juice
« Reply #2 on: February 24, 2014, 06:51:32 PM »
Ultimately I'm not sure if I'm just screwing up the terminology or completely missing the point. Would any of this have any value to individual entrepreneurs outside of the financial/tech sectors? Or does that come later? EG, after someone has created a fund-raising platform
« Last Edit: February 24, 2014, 06:55:07 PM by progmac »
if you want to support my incoherent ramblings
Bitshares PTS: PrziMMpXMMu948j5H7yvj3Ry8mnZBbsMYR

Offline graffenwalder

Re: Creating a DAC that sells juice
« Reply #3 on: February 24, 2014, 07:05:25 PM »
The short answer is, DAC's could be used to settle any disputes, so this could apply to any sector. I don't have the skills to explain this very clear in English.

As for fundraising every DAC with the intention of making money, come with a fundraising platform of their own. When honoring the social consences, you would give 20% to AGS/PTS holders(2x10%) and you could use the rest of the shares for fundraising.

Offline MrJeans

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Re: Creating a DAC that sells juice
« Reply #4 on: February 24, 2014, 09:25:39 PM »
I guess you could use a DAC to IPO the juice factory. But the factory itself wont be running on its own and be controlled by the network/code.
There is a large human element which creates the need for trust. and thats where problems start.
Maybe you could have juice coins where each coin represents 1L of juice (kind of like a futures market). And the price of a juice coin should peg the value of 1L of juice. But this still has a huge trust factor.... hmmmm....

Offline bytemaster

Re: Creating a DAC that sells juice
« Reply #5 on: February 24, 2014, 10:29:10 PM »
This is not a DAC... and would be considered an IPO / stock offering / security. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline fuzzy

Re: Creating a DAC that sells juice
« Reply #6 on: February 28, 2014, 10:26:10 PM »
This thread will become one of the threads from which I will draw content for explanations in a video.  For all involved in this conversation, Please add your PTS (or other preferred "alt"coin) to your signature so individuals can donate if they especially appreciate your contribution. 
WhaleShares==DKP; BitShares is our Community! 
ShareBits and WhaleShares = Love :D

Offline progmac

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Re: Creating a DAC that sells juice
« Reply #7 on: March 01, 2014, 03:17:17 AM »
This thread will become one of the threads from which I will draw content for explanations in a video.  For all involved in this conversation, Please add your PTS (or other preferred "alt"coin) to your signature so individuals can donate if they especially appreciate your contribution.
too cool. this exercise definitely helped me to understand what a DAC is and isn't
if you want to support my incoherent ramblings
Bitshares PTS: PrziMMpXMMu948j5H7yvj3Ry8mnZBbsMYR

 

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