NXT online wallet

[toast]

Again, we can completely stop using the word "DAC" if you like - it doesn't change the crux of our argument which is that *all* cryptequity are bearer shares and can be analyzed for profitability. Do you agree or disagree?

[toast]

hey guys,

I'm not entirely appreciating how I'm being treated here.  I offered to explain the VCorps- clearly there are other agendas at play here.  Maybe some here don't want the forum users to know how NXT Vcorps work and what they have to offer?

you need to define DACs before using this term.  That's pretty basic.

You can criticize the NXT community all you want, NXT has software that is used by a growing community.  I find the community to be vibrant.

-bm

Sorry if you feel like we are treating you wrongly.

I feel like my previous post addressed your questions, including the definition of DAC:

Sure, a DAC is a blockchain + cryptequity. If you don't think "DAC" is a good word to describe this, we can temporarily use "DASE", or "distributed autonomous system w/ equity." Surely you would agree that bitcoin is a DASE.

So, given that bitcoin is a DASE, would you agree with my earlier statement?

"Bitcoin and other cryptocurrencies are DASEs with embedded bearer shares which can be analyzed for profitability".

Can you please answer this one question which I have asked in my last 3 posts?

[bluemeanie1]

hey guys,

I'm not entirely appreciating how I'm being treated here.  I offered to explain the VCorps- clearly there are other agendas at play here.  Maybe some here don't want the forum users to know how NXT Vcorps work and what they have to offer?

you need to define DACs before using this term.  That's pretty basic.

You can criticize the NXT community all you want, NXT has software that is used by a growing community.  I find the community to be vibrant.

-bm

[gamey]

despite your claims, NXT has working software. 

You forgot to hit the quote button.  Who claimed NXT doesn't have working software ? 

[toast]

I think you should define what a DAC is before you start applying this term to things.  I think that's a reasonable request.

-bm

Sure, a DAC is a blockchain + cryptequity. If you don't think "DAC" is a good word to describe this, we can temporarily use "DASE", or "distributed autonomous system w/ equity." Surely you would agree that bitcoin is a DASE.

So, given that bitcoin is a DASE, would you agree with my earlier statement?

"Bitcoin and other cryptocurrencies are DASEs with embedded bearer shares which can be analyzed for profitability".

[bluemeanie1]

despite your claims, NXT has working software. 

[gamey]

I think you're confusing criticism with hostility.

are you against criticism?

-bm

I just showed what my definition of DAC means *to me*.  You then go off on some totally irrelevant tangent about a simple definition showing my ignorance etc.  Your criticism had 0 to do with my definition and does nothing to lead to fruitful discussions.   

IMO your response falls in line with other times I have asked questions with NXT community.  That's just my personal criticism though.  I moved on. chuckle. 

If you want people to answer your questions and they do so sincerely, then you just ad hoc attack... then what is the point in interacting with you ?  Why are so many NXT people like this ?

[bluemeanie1]

I think you should define what a DAC is before you start applying this term to things.  I think that's a reasonable request.

-bm

[toast]

I think you're confusing criticism with hostility.

are you against criticism?

-bm

Absolutely not, just stuff like "This isn't some pied piper routine" and "support the theory that this is a lot of hot air" comes across as hostile.
Sorry if I misinterpreted.

Anyway, back to this:

What you're saying is we shouldn't use the word "DAC" and should stick with "altcoin" or whatever. That's fine, it doesn't change the fact that Bitcoin et al are blockchain-based systems with embedded bearer shares that can be analyzed for profitability.

Do you agree or disagree.

[bluemeanie1]

I think you're confusing criticism with hostility.

are you against criticism?

-bm

[toast]

Why the hostile tone?

What you're saying is we shouldn't use the word "DAC" and should stick with "altcoin" or whatever. That's fine, it doesn't change the fact that Bitcoin et al are blockchain-based systems with embedded bearer shares that can be analyzed for profitability.

[bluemeanie1]

My belief is that DAC means that the distributions/revenue are distributed via rules in the network.  Therefore the word autonomous.  All the business logic is implemented in a custom network that finds consensus over these rules.

To me, NXT using virtual corporations instead of DACs makes a lot more sense, but I have no seen the full scope of the project.

To me the way the term DAC is used shows a lot of ignorance on how corporate value is built in the real world.  It's not 'automatic' it requires quite a bit of thought and work to manage correctly.  Of course we have yet to see any real tangible ideas for DACs emerge, and certainly no real-world examples.

OTOH... ...

Virtual Corporations are well grounded in history, as I show HERE and HERE.  This isn't some pied piper routine.

-bm

[gamey]

My belief is that DAC means that the distributions/revenue are distributed via rules in the network.  Therefore the word autonomous.  All the business logic is implemented in a custom network that finds consensus over these rules.

To me, NXT using virtual corporations instead of DACs makes a lot more sense, but I have no seen the full scope of the project.

[bluemeanie1]

what I tend to see a lot of in these areas are 1) fantastic claims and 2) complete lack of definition, not only on how to accomplish/implement, but even what constitutes the ideas themselves.

So you don't know how to define a DAC, but you pronounce Bitcoin is one[1] and that your ideas are superior, they're 'absolutely not' 'traditional' nor(as someone else claimed) 'centralized'.  For all this talk of DAC we can't even produce a definition!  Materials like the one I linked earlier just further support the theory that this is a lot of hot air.

-bm


[1] and bitcoin is worth several billion dollars, therefore DAC are worth several billion dollars!

[toast]

I don't think you've established here or elsewhere that DACs have some sort of inherent legal advantage.  Seems most of these claims are speculative if not mythical.

Just to be clear, Bitcoin is a DAC by our definition. Would you say your virtual corps and bitcoin are the same type of legal entity?

where is your definition stated?

Nowhere officially, as far as I know. That's because "DAC" just means "blockchain-based system with shares". So NXT is a DAC too!
We use the term "DAC" to emphasize a metaphor that lets us do economic analysis of such systems. We are absolutely *not* doing anything like building traditional companies.