well , it translates the same in Chinese at least . "learn from bitshares' failures " = "learn from the reasons why bitshares has failed "
i'm sure if his English could be better he'd use the word "mistakes" instead of "failures" .
Anyway , he's right about one sentence : technology can not fix dumb people .
The difference between DAO and BTS is that , BTS didn't have a 6 million USD budget in the first place , it's just in BM's imagination . The dilution plan was accepted reluctantly by the community only because of :
1. BM will perform some big thing with vote , millions of users will be using BTS , hence any reputation cost by the merger and continue dilution could be compensated .
2. Upon the delivery of 2.0 , BM magically proposed that to unleash the delegate-by-delegate dilution to worker dilution , with a misleading promise that all dilution will be vested for years , no selling pressure .
After the two promises were broken , he still convinced that he has 6 million budget to spend . This is what I called "wishful thinking" .
Anyway , I don't believe the future holds for The DAO . But what BM said regarding the "failures" of BItShares and blame it on "dumb people" are just plain stupid .
By the way , how's brownie.pts going ? As far as we know , nobody is controlling brownie.pts except BM . He can dilute it to support development . How come brownie.pts hasn't been successful already