Quote from: MktDirector on July 22, 2014, 07:05:51 PM
DAC stands for decentralized autonomous company.  It's a company because it IS for profit. Profit is the incentive that makes us different from all other 2.0 technologies out there.  If something doesn't produce a profit (ie: value) then it can't thrive and grow.  The only thing that can grow without prodcing added value is government.  So are we a technical "company"? No, but that's the closest metaphor we have to describe a DAC, and thus BitShares.

I'm being pedantic, but I would argue that governments do produce added value in the form of conflict resolution.

DAC stands for decentralized autonomous company.  It's a company because it IS for profit. Profit is the incentive that makes us different from all other 2.0 technologies out there.  If something doesn't produce a profit (ie: value) then it can't thrive and grow.  The only thing that can grow without prodcing added value is government.  So are we a technical "company"? No, but that's the closest metaphor we have to describe a DAC, and thus BitShares.

Quote from: toast on July 22, 2014, 02:25:36 AM
Yeah the video doesn't make it clear that "DAC" is a *metaphor* and that it can be useful to analyze bitcoin as a company rather than a currency. But if we start with this approach it will make our own crypto more appealing so I'm ok with it ;)

+5%

Yeah the video doesn't make it clear that "DAC" is a *metaphor* and that it can be useful to analyze bitcoin as a company rather than a currency. But if we start with this approach it will make our own crypto more appealing so I'm ok with it ;)

I love the idea of bitshares. That said, people dipping there toes into this new world of bitcoin have their guard up to level 99.
The homepage video say "bitcoin is the first digital company that calls its shares coin". If people think bitcoin is a company they think it is some kind of 'for profit' entity that's trying to sell them something or doesn't have their best interests in mind.