The DAO price discussion thread.

[Shentist]

i think i'll pass .
I have much nightmare about putting my money on programmers and let them spend it to invest on something they thought was cool .   

AGS/PTS/JL777 .......

i think your understanding of the DAO is not clear.
at the moment the DAO is in creation phase and after the creation is done, anyone can make a proposal and get funded. this will be probably done first
from slock.it, because they are the creators of the smartcontracts the DAO is using.

if you want your ETH back you can everytime split and your ETH is returned to you, so it much less risk then with AGS, JL777, ETH or any other crypto project so far.

[btswildpig]

i think i'll pass .
I have much nightmare about putting my money on programmers and let them spend it to invest on something they thought was cool .   

AGS/PTS/JL777 .......

Your mistake is correlating negative issues with people being 'programmers'.  From what I can tell Chinese education system doesn't produce many programmers so I am not sure what to think but it explains the problems.

IMO your problem is you chose the wrong people. It has nothing to do with them being programmers. Bill Gates was a hardcore programmer... As were a ton of founders.

One needs to always judge their mistakes appropriately.

And I'm not sure how I should response to your question about China ....because nowadays the saying is , "Even if you throw a stone in the street randomly  , you'll hit a programmer " .

Just , most programmer with great skills don't speak English well (nor that they have much time to do so ) . So it's not common for you to encounter many Chinese programmers on line .

I wish the word "China" could be used to expain everything ..... but it doesn't really , aside from sometime glith in the networking environment .

[btswildpig]

BTW. ....According to Coindesk article , it seems like programmers in this DAO(we thought it was slock.it) denied they're the operator and initiator of the DAO .....

Tricky ...... They said the code was built by them , but they didn't actually started this DAO , and the funding was not raised by them

[btswildpig]

I really am not looking to be a dick. However people need to correlate their mistakes appropriately. If the lesson you learned from BitShares is "don't trust programmers" then you need to seriously reconsider the basis of what you learned.

That... or become a programmer...

I'm a PHP and C (not plus plus )programmer myself ....
What I meant was "i'm not gonna trust programmers to take a chuck load of money to invest on something else that was not built by them and out of their control to hope to get return on investment " .
I could just invest the things that they intended to invest in myself , if all they do is take one's money and give it to another .

of course , some VC and Investment funds are built by programmers , but they also have people from other area of expertise to help them , like from the financial, business world .
But crypto investment fund that was not runned in the form of a traditional investment process ? don't think they could have those .

[gamey]

I really am not looking to be a dick. However people need to correlate their mistakes appropriately. If the lesson you learned from BitShares is "don't trust programmers" then you need to seriously reconsider the basis of what you learned.

That... or become a programmer...

[gamey]

i think i'll pass .
I have much nightmare about putting my money on programmers and let them spend it to invest on something they thought was cool .   

AGS/PTS/JL777 .......

Your mistake is correlating negative issues with people being 'programmers'.  From what I can tell Chinese education system doesn't produce many programmers so I am not sure what to think but it explains the problems.

IMO your problem is you chose the wrong people. It has nothing to do with them being programmers. Bill Gates was a hardcore programmer... As were a ton of founders.

One needs to always judge their mistakes appropriately.

[CalabiYau]

i think i'll pass .
I have much nightmare about putting my money on programmers and let them spend it to invest on something they thought was cool .   

AGS/PTS/JL777 .......

Many lessons learned indeed.

[btswildpig]

i think i'll pass .
I have much nightmare about putting my money on programmers and let them spend it to invest on something they thought was cool .   

AGS/PTS/JL777 .......

[Empirical1.2]

Fairly similar concept to how BTS works in some way it seems.

Proposals are based in part on what resources are available to work on them.
Resources are hired based on the availability of stable funding.
A constant battle over who controls the funding light switch means no one dares hire against any line item.
So the resources remain allocated elsewhere.

Voting is overrated.  I wouldn't want to ride on an aircraft controlled by voting passengers.
Give me a benevolent whale any day.

'The DAO' seems to be doing very well in its fund-raising so far, so it seems the market has faith in something similar to the BTS voting model. I guess the real test will be to see how they do in practice.

http://coinjournal.net/dao-decentralized-fund-management-crowdsale/

The DAO Raises Over US$13 Million During First Three Days of Crowdsale

Similarly, in The DAO, there is no director and no board. Voting power is granted to holders of The DOA tokens who can vote to approve or decline proposals submitted. Voting rights are proportional to the amount of tokens held. The proposals submitted to The DAO by contractors, define how much or how little control over its operational responsibilities The DAO “outsources” to the contractors.

The DAO said it is looking for projects that provide a return on investment or benefit to the organization and its members, and which benefit the decentralized ecosystem as a whole.

The organization earns revenue generated by the products and services it helps fund. Profits are then distributed to participants based on transparent rules that are decided by the participants beforehand.

[Akado]

If they decide to throw money at everything, which seems to be what most people want, they are screwed. I believe whales won't follow that, though. Thankfully it's stake that matters.

[gamey]

Thoughts on this project ?

I'm not sure what to make of it. Anyone think it is a bad investment?