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Offline fuzzy

First Half of "What is a DAC?" script
« on: March 17, 2014, 09:22:06 AM »

I am kind of busy this week and next working on a homework assignment on network upgrades.  Suffice it to say, I am going to be a little busy.  However, I have scrounged up enough time over the past few days to work on a script for a video on "What is a DAC?" 
Please feel free to review and change this script.  Thus far it only covers "Distributed" and "Autonomous", but as you will see toward the end the "Corporation" portion is coming. 

I am posting it below: 
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

To understand what a Distributed Autonomous Corporation is, we must first understand what makes it Distributed and Autonomous.  For this purpose, I have chosen a project called Project Phoenix…which was created by the Search for ExtraTerrestrial Intelligence Institute (SETI).  As the name implies, SETI was searching for extraterrestrial life under the precepts that any alien races with technology similar to ours would also leave a footprint similar to that which is left by our technology.  The footprint for which they were searching were a range of radio waves that are emitted by many of our technologies here on earth.
 
To scan for these footprints, Project Phoenix would need around the clock, powerful computation for every second of every day for years.  However, SETI was a non-profit corporation that relied heavily on donations from NASA and other government-funded programs.  Due to this bottle-neck in funding, large and expensive centrally controlled server farms they needed for the computation made it cost prohibitive by conventional means. 

From this conventional problem arose a rather unconventional solution.  This solution was one, if not the first, attempt to enlist individual citizens to donate a part of their Personal Computer’s (PC) computational power to collectively perform the same function as these costly, centralized server farms.  Thus it was Decentralized They asked science-lovers and geeks around the world to download a program that would effectively allow SETI to create their own Distributed version of the cost-prohibitive centralized server farms.  This program used their PC’s extra CPU cycles to search for the ET’s footprints. 

Once the code was written and compiled into a program, it could be downloaded by the Geeks who wished to help find ET, they only needed to start it to be a productive worker in the network.  This program continually ran until the user stopped it or an error occurred.  Because this continual production via computation required little to nothing else from the user, it can be called Autonomous.

Participation in these projects was extremely high, but the incentive structure relied heavily on people’s curiosity about the existence of Extraterrestrial Life.  This is wonderful when doing scientific research for popular movements like finding aliens, curing cancer and aids…etc, but the issue still remains that those who join the network are replacing the central computing infrastructure are paid nothing for their contributions. 

This brings us to the Corporation part of DAC.  Traditionally, a corporation offers investors and society value in the form of goods produced/sold and/or services rendered—or Value Produced.  The value of the corporation is quantified in terms of a designated number of units.  These units are in fiat currency, which is both directly and indirectly controlled by Central Authorities. 

Currently there are many different fiat currencies, but most of them are ultimately controlled by Centralized Banking structures who loan these pretty (yet “intrinsically” worthless) pieces of paper, at interest, to a nation’s population through that nation's treasury…this puts a nation’s people in constant debt to the Central Banks. 

for more on this topic, see Bill Still’s “Money Masters” at the link below: https://www.youtube.com/watch?v=iDtBSiI13fE
or
Mike Maloney’s “Hidden Secrets of Money”: https://www.youtube.com/results?search_query=mike%20maloney%20hidden%20secrets%20of%20money&sm=1
Or
For a short and sweet, entertaining explanation, “The American Dream”: https://www.youtube.com/watch?v=tGk5ioEXlIM

“Hint:  Central Banks make us debt slaves and are owned by private individuals and their families in an Oligarchical structure. If you are not part of their club, you are indirectly their slave.”

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Please be honest with your criticisms and/or praise.  The Second portion is coming as soon as I can finish my project (hopefully far before the due date as I would prefer to work on the above) ;)
« Last Edit: March 17, 2014, 09:26:01 AM by fuznuts »
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Offline davidpbrown

Re: First Half of "What is a DAC?" script
« Reply #1 on: March 17, 2014, 01:16:53 PM »
Keep it simple?..

Is the C of DAC, Corporation? I prefer Adam Levine's suggestion that it's Consensus.
I wonder it is the "Autonomous" AND "Consensus" that makes its potential to function as a Corporation?


"Distributed", "Autonomous" "Consensus"

- "Distributed" - many people are involved providing access to computing power.
- "Autonomous" - there is no central authority; this follows from what makes Bitcoin work so well, allowing a crowd to come to a unanimous decision.
- "Consensus" - everyone agrees on a unique point of reference; that is, there is a general agreement, a 'consensus'. So, for Bitcoin BTC this is the BTC Blockchain, rather than any other ledger. For PTS, this consensus is that PTS Blockchain. For a DAC it is another blockchain acting as a unique reference of transactions as they occur.


The narrative above reminds me of the thought that what are considered the best works of fiction, let the user do the work of creating a world in their imagination, rather than ever answering all the ambiguities. I think that's perhaps why I don't take to narratives for descriptions, and prefer that any description is left simple and specific as a definition rather than as an illustration. That's just me though and promoting ideas always needs a wide variety of types of communication; those each appealling to different audiences, in different ways.

Also, on the point of selling the idea, backing it up with examples perhaps is fine but initially you need to grab a readers attention fast; make them understand very quickly why they need this, rather than risk leaving them wondering why they would want to put in effort up front reading pages of a story. Last thought then is that SETI is too abstract from addressing any real hunger that the reader might come to this with; perhaps a real business example might hook them better?
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Offline CLains

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Re: First Half of "What is a DAC?" script
« Reply #2 on: March 17, 2014, 02:07:17 PM »
I think Invictus prefers 'company' to 'corporation' for to legal reasons.
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Offline xeroc

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Re: First Half of "What is a DAC?" script
« Reply #3 on: March 17, 2014, 02:10:10 PM »
I personally prefer consensus as it pretty much describes what the network is doing .. But I am ok with company ..

what are these legal reasons?
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Offline CLains

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Re: First Half of "What is a DAC?" script
« Reply #4 on: March 17, 2014, 02:13:47 PM »
I think it's an interesting gateway into the concept of decentralized autonomous companies. As Feynman used to say, the only way to teach a class of students is to have a style that occasionally tugs at every student to keep each interested. We should definitely have many different ways to introduce DACs so people can chose the style of learning that suits them. I can definitely see my mom understanding DACs in this way.

The written content is a bit rough around the edges, but I think it can become a good article for novices. Now I'm curious how you will transition to the company part. I'll help fix up the article once you have the next part out. :)
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Offline biophil

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Re: First Half of "What is a DAC?" script
« Reply #5 on: March 17, 2014, 02:16:18 PM »
I always say Company, and my simple reason is that it provides immediate connotations of profit. One of bytemaster's early papers used profit as a DAC distinctive, and that stuck in my mind.

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Offline CLains

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Re: First Half of "What is a DAC?" script
« Reply #6 on: March 17, 2014, 02:19:10 PM »
what are these legal reasons?

Not sure. From wiki:

The most prominent kind of company, usually referred to as a "corporation", is a "juristic person", i.e. it has separate legal personality, and those who invest money into the business have limited liability for any losses the company makes, governed by corporate law.


Seems like corporation is a type of company; company is more general, which is guess is good, and can include partnerships, and perhaps other things. It'd be interesting if someone could explain the exact reason.
« Last Edit: March 17, 2014, 02:21:55 PM by CLains »
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Offline biophil

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Re: First Half of "What is a DAC?" script
« Reply #7 on: March 17, 2014, 02:23:40 PM »
To nitpick your example, SETI isn't autonomous in the way a DAC is. A DAC is autonomous on the management end, not on the user end. SETI was (is?) managed centrally and actively.

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Offline Stan

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Re: First Half of "What is a DAC?" script
« Reply #8 on: March 17, 2014, 03:36:25 PM »
I personally prefer consensus as it pretty much describes what the network is doing .. But I am ok with company ..

what are these legal reasons?


We started off with "corporation" (see "Bitcoin and the Three Laws of Robotics") because we wanted to communicate the idea that crypto-currencies could be viewed as unmanned businesses and designed like all businesses intended to earn a profit.

We said, rather than think of "Bitcoin, Inc." or "Bitcoin, Ltd.", lets call it "Bitcoin, DAC" to indicate that it is a different kind of company that gets its charter from decentralized autonomy, not from a government.

Then it dawned on us, that we were just dangling bait, offering governments something else to regulate.  Not good.

So we switched back to "company" which carries the same connotation of a "business" without the "licensed by government" baggage.

There's nothing wrong with talking about forming a distributed autonomous consensus as something that a Decentralized Autonomous Company does.  But, the two are not interchangable.

Using Consensus or Organization is ok if you are trying to convey some unique meaning where such a change helps convey your point.

But our point is that DACs should be first and foremost for-profit businesses.



Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline fuzzy

Re: First Half of "What is a DAC?" script
« Reply #9 on: March 18, 2014, 06:57:24 AM »
To nitpick your example, SETI isn't autonomous in the way a DAC is. A DAC is autonomous on the management end, not on the user end. SETI was (is?) managed centrally and actively.

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Do explain  ???

I personally prefer consensus as it pretty much describes what the network is doing .. But I am ok with company ..

what are these legal reasons?


We started off with "corporation" (see "Bitcoin and the Three Laws of Robotics") because we wanted to communicate the idea that crypto-currencies could be viewed as unmanned businesses and designed like all businesses intended to earn a profit.

We said, rather than think of "Bitcoin, Inc." or "Bitcoin, Ltd.", lets call it "Bitcoin, DAC" to indicate that it is a different kind of company that gets its charter from decentralized autonomy, not from a government.

Then it dawned on us, that we were just dangling bait, offering governments something else to regulate.  Not good.

So we switched back to "company" which carries the same connotation of a "business" without the "licensed by government" baggage.

There's nothing wrong with talking about forming a distributed autonomous consensus as something that a Decentralized Autonomous Company does.  But, the two are not interchangable.

Using Consensus or Organization is ok if you are trying to convey some unique meaning where such a change helps convey your point.

But our point is that DACs should be first and foremost for-profit businesses.

So what is the general "Consensus" on naming these (organizations, companies, corporations...)? Has this been ironed out by the players in the Bitcoin 2.0 space?
« Last Edit: March 18, 2014, 07:06:31 AM by fuznuts »
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Offline unimercio

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Re: First Half of "What is a DAC?" script
« Reply #10 on: March 18, 2014, 11:20:23 AM »
Outside the US and British Common Wealth the term  S.A.  designates an anonymous society, anonymous company, anonymous partnership, etc...

This suggests that a DAS or Distributed Anonymous Society would be more a widely accepted designation. Though I prefer Autonomous over Anonymous.

Regardless, "If you build it, they will come"

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Offline davidpbrown

Re: First Half of "What is a DAC?" script
« Reply #11 on: March 18, 2014, 01:07:33 PM »
Just need to change the D and we've got something completely different!

Dispersed Anonymous Society - or Scattered Anonimous Consensus (DAC) for the OCDs.
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Offline Stan

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Re: First Half of "What is a DAC?" script
« Reply #12 on: March 18, 2014, 01:31:05 PM »
To nitpick your example, SETI isn't autonomous in the way a DAC is. A DAC is autonomous on the management end, not on the user end. SETI was (is?) managed centrally and actively.

Sent from my SCH-S720C using Tapatalk 2

Do explain  ???

I personally prefer consensus as it pretty much describes what the network is doing .. But I am ok with company ..

what are these legal reasons?


We started off with "corporation" (see "Bitcoin and the Three Laws of Robotics") because we wanted to communicate the idea that crypto-currencies could be viewed as unmanned businesses and designed like all businesses intended to earn a profit.

We said, rather than think of "Bitcoin, Inc." or "Bitcoin, Ltd.", lets call it "Bitcoin, DAC" to indicate that it is a different kind of company that gets its charter from decentralized autonomy, not from a government.

Then it dawned on us, that we were just dangling bait, offering governments something else to regulate.  Not good.

So we switched back to "company" which carries the same connotation of a "business" without the "licensed by government" baggage.

There's nothing wrong with talking about forming a distributed autonomous consensus as something that a Decentralized Autonomous Company does.  But, the two are not interchangable.

Using Consensus or Organization is ok if you are trying to convey some unique meaning where such a change helps convey your point.

But our point is that DACs should be first and foremost for-profit businesses.

So what is the general "Consensus" on naming these (organizations, companies, corporations...)? Has this been ironed out by the players in the Bitcoin 2.0 space?

Seems like it is driven more by brand affiliation.   :)
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Offline biophil

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Re: First Half of "What is a DAC?" script
« Reply #13 on: March 18, 2014, 01:33:41 PM »
To nitpick your example, SETI isn't autonomous in the way a DAC is. A DAC is autonomous on the management end, not on the user end. SETI was (is?) managed centrally and actively.

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Do explain  ???

[email protected] is a research program that's managed by scientists out of UC Berkeley. The client software that looks for ET does run autonomously, but the data is reported back to a central location (UC Berkeley). So the network structure of [email protected] is like a hub (UC Berkeley) with spokes (all the individual computers running the client). If you removed the hub, the spokes wouldn't know what to do.

This is fundamentally different from a DAC. With a DAC, there doesn't even have to be a hub. Sometimes there will be hubs, and that's ok, because a DAC is designed so that if you remove a hub, the spokes will automatically reorganize themselves into a new network structure.

See the difference? Just because each computer in the network runs autonomously does not make the network itself run autonomously.

Offline fuzzy

Re: First Half of "What is a DAC?" script
« Reply #14 on: March 19, 2014, 09:14:40 AM »
Yeh that is kind of how I saw SETI as well.  Glad to have a little more definition to it though. SETI was primarily chosen as a real world way to connect people with a function that can pique nearly everyone's curiousity. Like you said, sometimes there will be central hubs (like SETI has) and sometimes there will not be (Banks and Exchanges).  Those with central hubs are NOT DACs but they do easily bridge the real world Gap between the decentralized digital services they will bring and the more SETI-like projects coming (Gridcoin, for instance).  The next section was going to speak more to the point that a DAC can offer similar services to anyone wanting to pay for them, and that unlike in a traditional company, shares would be issued over time for work done, and that the value of those shares float against the value of the service rendered against other similar and dissimilar services' shares. 

Thanks for responding biophil :)
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