DAO

nocoiners BTFO, can't believe anybody would miss on the chance to buy into THE next collaborative megacorp, i mean holy fuck

bagholding ether as we speak, sir

>>1223167
>>1223157
up over 10% in just a few hours

Holding a pittance of 60 ETH, would exchanging half of it for DAO tokens be too much?

>>1223136
Naw.

>>1223211
+14% nao

>>1223262
hello 0.02 oh how I have missed you

>>1223136
Let this meme die.

>>1223268
You guys got a little spike now ethercucks are back! Look at all you little guys crawl out of the woodwork. Oh how I have missed you.

>>1223275
>he is not joining the DAO

stay poor nocoiners lol

>>1223273
literally google "Eth DAO" and take a second or two to reflect on how stupid you are for not buying eth

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Ethereum now up 20% since the DAO release nocoiners on literal suicide watch

ETH is going to dump hard in a couple days, sell now and buy TRUMP. The DAO is just a pumping ploy.

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>>1223310
Ethereum is bitcoin's successor while your shit is just another memecoin.

>>1223310
do people on /biz/ hate money or what?

up 30% and climbing

etherhaters btfo. see you on the moon

nocoiners utterly and totally BTFO
first responders arriving on the scene

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>mfw dumping all my buttcoins into eth

Here we go

>>1223239
I have decided there is no reason not to do it with the amount I have currently but I'm not doing it immediately, I'll hold off since I have time before the exchange increase.

Babies first time playing around with money, I'll either make money and learn something or lose money and learn something. Let's go.

>>1223239
go all in. you can always withdraw your ETH at any time by splitting from the DAO. look it up. there is no reason not go all in

>>1223136
Kys faggot

gatecoin is just selling IOUs right now. why shouldn't I wait and buy DAO when it's released? And who says that gatecoin can hold their promise?

>>1223436
I thought about it, the lack of risk in that regard is very appealing but I need to read up more on the split mechanics first. I need to know if I can take out some of the ETH as opposed to all of it. I'm sure it's documented but I was going to go to bed right before I got an email about this, so I'm too tired to make rationale decisions or comprehend much past the basics, since I have time I'm in no rush to invest right this second but from my current understanding this seems fantastic.

How do I buy DAO?

>>1223446
With ETH and only ETH.

Sorry the gateway to the new global financial system is ETH and ETH only.

Suck on it nocoiners and bitchcoin maximalists.

>>1223446
Buy eth

But I'm sorry you;ve missed the 0.012 train :')

It's okay, you can buy now and wait for the moon to come

>>1223136
should i convert my ETH to DAO and sell DAO tokens when they hit exchange? (if they get on exchanges) or do i just play around with ETH for profit?

>tfw nocoiner because I still haven't recieved my new bank password

>>1223523
>currency of the future!
>still need banks
Kek

>>1223529
how else do you expect me to buy coins ?

>>1223515
I dont know, i want a part of this glorious DAO but i dont have much ETH left and ETH is going up.

>>1223441
because the price of DAO tokens will increase before it is released, you can read the price schedule on their website

>>1223310

A great example of a cryptocoin babby who thinks everything in the world is a /biz/ coordinated pumpndump. What on earth is wrong with you? This is business we're looking at here, this is society changing shit just like Bitcoin was and still is.

Then you tell people to actually spend money on a joke token made in 15 minutes in some neckbeard's basement which is literally just a digital playing card. Fuck off kid.

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>>1224240
>just a digital playing card
Playing cards and POGS are coming back in a big way, I expect them to replace cash as the mainstream currency at least in the west by 2020.

What is this DAO meme anyway?

Where do you buy the DAO shit?

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>>1224545
Its THE DAO. Which is THE distributed autonomous organisation.

The one and only distributed autonomous organisation.

>>1224560
Why is it good and totally not a scam?

>>1224563
The dao is like the silk road of investing.

If you own part of the dao you get a vite on what the dao does.

The dao can contract companies, service providers for the benefit of the dao.

You can submit proposals to the dao

The dao is everyone and no one

>>1224574
>vote

>THE dao

Speaking of Ethereum, is anyone using Kraken.com exchange?

All trading and withdrawal passwords (2FA) stopped working for some reason and I'm unable to change these passwords (says bad OTP).

Although I am able to log in.

What the fuck?

Is this how they steal coins of clients who haven't logged in after a while?

I have not made any changes and have secured my account well, nobody has accessed it. I am SURE the passwords are correct.

So can I kiss my 4k EUR and 1000 ETH goodbye?

>>1224581
weird, never had a problem except once when my mobile/pc clock was wrong and failed to authenticate

>>1223136
sold all my eth, fuck the doa.

>>1224652
Unlucky

What exactly is The DAO and what does it mean for ethereum?

>>1224663

As i understand it, the Dao is like a giant Venture fund. You put ether into it, and get "shares". With the shares you can vote on Proposed actions (like financing business x or y). Profits are put back into the DAO and will (somehow) flow back to shareholders.

The new thing is, that voting and share ownership is run on an Ethereum Smart contract so it's public and audit-able.

So how do I buy this DAO thing and how it is not a scam? ELI5 please

>>1224581
why the fuck would you leave your funds on an address created for you by someone else

>>1226152
> how it is not a scam?
Because all funds are held inside an account controlled by the smart contract, that can only do the things it is programmed for, and you can see the sourcecode, and all transactions from everyone.

>>1224581
write an email to their helpdesk

>>1223280
How do?

>>1227335
And how do I know this "smart contract" actually werks and won't fall apart and there will be hole in code or something?

>>1228304
Because its audited by the very people who created and know ethereum coding inside and out and they are putting their own ETH in it.

Is the DAO worth to put ETH into it? even if it is only a couple of hundred? On paper it sounds very good but what about in practice?

>>1228408
Just do it

>>1228419
I plan too put some funds into it, i just want to do some research before i do, like how good on an idea it is, if there are past projects like this and how well did they do. Just wondering what people on /biz/ think of it and what they're plans are

>>1228391
So how do I buy this DAO?

>>1228444
https://daohub.org/creation.html

https://download.slock.it/public/DAO/WhitePaper.pdf

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>>1223136
Most autistic picture ever

>>1228754
>this is an actual book

>cryptocoons

>>1228814
I'm a cryptocoon. 80% of the men, with women who were 8s or above, I talked to at the bars this past weekend all stated the key to maintaining their relationships was buying into the DaoHub

I don't understand this shit at all. I'm holding 100 ETH. I'm supposed to exhange that eTH for DAO coins? And then what? Sell the coins for more ETH?

Can't I just hold my ETH or would I be missing out?

>>1229063
You should put your ETH in the DAO

>>1229063
You got too little ether to risk going into DAO. Sit on it for a bit, and wait for DApp ecosystem to grow (or better yet - develop something if you can).

>>1229194
why too little? you put in what you're willing to lose so there's no limit down or up. going to spend 1 BTC myself.

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tfw no qt3.14 trap vitalik gf

So I sent 10 eth to that DAO address, etherchain says the transaction went through correctly (7 hours ago) but my balance is still listed as the same as it was before I sent the 10 eth, and at https://daohub.org/creation.html it says my address owns 0 DAO tokens. Did I fuck up or what?

got some Tokens on Sat.. but i WANT TO BUY MOAARRRRR

im going 300 eth balls deep

>>1229469
Turns out I put too little gas with the transaction, someone on a forum said 85000 gas so I did 90k just to be sure and it went fine.

looking forward to making lots of daoism jokes

>>1229691
Im going in 600 ETH

What are the risks of going into The Dao?

>>1230311
The DAO could end up spending the money on failed ventures.

>>1230199
too little gas? wtf are you talking about

>>1224563
well if miners decide to fuck you then they pretty much can fuck you out of your money on the contract. so... it's taking a huge leap of faith.

>>1227335
>that can only do the things it is programmed for
now that is not true... miners decide what they do with your smart contract. they can go dishonest in a heartbeat.

>>1230330
Because it is "wisdom of the crowd" right?

And crowd generally is dumb.

>>1230330
Do I understand it correctly that it is a crowd driven investment fund?

>>1230353
Yes.

But currently there is only one thing for it to invest in, slock.it

There's speculation it's just a front for slock.it to get funding 'indirectly'

>>1230362
So how does the crowd voting work?

Do I buy the DAO token and then I vote with my share if DAO will invest in slock.it or not? And then I receive dividends from it?

Yawn.

>>1230352
The DAO membership will be far more intelligent than the general public, and that will be the case for many years.

>>1230364
Yes, if there's profit, and the DAO holders vote to distribute dividends.

There's a problem in that the DAO has currently raised 16 million. Which is nothing in terms of tech start up funding. It might not be able to fund very many projects.

>>1230362
What slock.it ACTUALLY does?

I see lots of nerd speak and buzz phrases on their homepage, but what ACTUALLY has slock.it done? How do I use it?

>>1230338
You need a certain amount of gas to do a contract action (i.e. purchasing dao tokens in this case), this is more than just the amount you need to send ether. So my transaction got cancelled because the contract ran out of gas.

>>1224560
No anyone can make a DAO at any time, it's just a contract that runs on the ethereum blockchain. This is just the first time someone implemented the DAO white paper.

I must say this actually looks pretty damn interesting.

This is the first decentralised crowd investment fund in the world, right?

I'd like to try this, even if I lose money. Will gamble 100 ETH.

>>1223136
Sounds pretty gay and lame. Just a new gimmick to fail miserably over the next couple years. Never leave decision making processes to a large group of people.

>>1230450
Cool crystal ball. Electric cars were "gay and lame" too at some point. Now look at Tesla. Someone has to start this.

>>1230454
Electric cars were never gay and lame, dumbass. They actually serve a purpose.

>>1230459
BULLFUCKING SHIT.
I recall talking about electric cars and self driving with people at a big blue giant around 2010-2011. Noone thought it would come to reality, but everyone can see its the future in 2016.

>>1230465
Nobody thought electric cars would come to reality? Seriously? What kind of retards do you hang around?

>>1230459
Yeah right. People were laughing at electric cars less than 10 years ago. Same with mobile phones, webcams in 1980s. Now look where we are. How are these decentralised platforms unrealistic for future? How is blockchain not the next big thing? Maybe this specific DAO won't do it, but there will be many more to come. I think Bitcoin has proven it is here to stay and so are the other cryptokeks.

>>1230476
People were laughing at electric cars? What kind of alternate reality do you come from? Also, mobile phones and webcams were embraced immediately. Almost everyone saw the potential in them.

>inb4 that stupid youtube video where someone actually found a few people on the street that said they wouldnt use cell phones

You act like we are living in the 50s where society thought technology was the devil. We have come a long way from that. I don't know who is spinning these tall tales to you youngsters.

>people dont like cryptos because people just dont like tech!

Topkek. You do realize that most of the developed world has smartphones now, right?

>>1230487
>Topkek

Does that warranty top kek? What is top about that? Where is the kek? There isn't. So no logic there in that statement.

Secondly. What is your argument? Please post your argument, preferably in bullet points and including hard math (technical and / or fundamental analysis) why blockchain technology, Ethereum, Bitcoin, The Dao are bullshit.

I'm waiting and I will be here all day and tomorrow.

>>1230474
The only retard here is you buddy. Back in 2010 -2011 hardly anyone though it would happen. I recall there was a video of a blind guy using an early prototype of the google self driving car and people were saying its fake and shit. You're a salty downer.

>>1230496
Kek

>>1230509
>hardly anyone though it would happen
Yup. You definitely hang around retards.

>>1225352
So how is this any different than being a major stockholder? I tend to not trust a company will do well because an idiot with no expertise from /biz/ is calling the shots.

>>1230351
So you take your eth and walk if that happens. You did read the white paper, didn't you?

>>1230584
It's not, really. It's almost exactly like being a stockholder/partner in a vc or investment club.

>>1230527
>Kek
Argument where? No argument, statements discarded.

>Yup. You definitely hang around retards.

Ad hominem and person attacks detected. Method not suitable for discussion. Argument discarded.

>>1230657
Kek

>>1230744
argument devoid

By all means keep arguing like fags but I too don't remember anyone saying electric cars won't happen.

i still got like 270ETH just sitting around on polo gathering dust, should i throw a couple into DAO?

how do i do that btw?

>>1230789
You must be pretty young. The idea of an electric car was laughable until Tesla made it something good. Until that, the best we could hope for was a hybrid and even those were considered pussy deterant.

Cryptocoonin'

>>1231633
Wrong. Electric cars were always considered inevitable. Only dumbasses thought they would never happen.

>>1231530
Do it

>>1231793
Majority of consumers are fucking retard, chief. Hence it had no hope and was thought of as a hippie wet dream.

>tfw won't be able to buy DAO tokens in time because all my ether is in my mist wallet and I'm way behind on downloading the blockchain.

>>1231633
Youre the one that's young as you don't remember the GM EV1

>>1231896
>Hence it had no hope and was thought of as a hippie wet dream.
Dumbass detected. You're one of those retards that thinks self-driving cars are a wet dream too, huh? How fucking old are you, seriously?

>>1232077
Why would self driving cars be a wet dream? We have them literally right now. I'm 27. Saying that nobody thought those things would be feasible isn't the same as me not wanting it or thinking it would be neat. Until Tesla came around, the best you would get would be a hybrid because all electrics were expensive as fuck and worked poorly. Now the tech is well formed but people are still weary because there aren't enough charging stations.

>>1232101
>Now the tech is well formed
Thats the point you mouth breather. Obviously 20 years ago the tech wasnt as developed as it is today but only complete idiots throught that the tech would never advance and that electric cars would not be a reality. It wasnt too difficult to see that increasing improvements on battery design would make EVs possible. Bad fucking analogy.

>>1232218
That's my point. Most people were fucking dumb with their crystal balls predicting ev would never replace internal combustion because the only examples they had were shit. Me thinking its going to happen doesn't mean most consumer thought it was anything more than gay. Nobody on 4Chan is the typical consumer.

>>1232237
>Most people were fucking dumb with their crystal balls predicting ev would never replace internal combustion because the only examples they had were shit.
>most people
Wrong. Only fuckwits didn't see this coming. Anyone with half a brain knew that thats exactly what would happen. Just because you are a dumbshit and didnt see technology advancing to this point doesnt mean that most people are as retarded as you.

>>1230590
i'm convinced you can be fucked out of your eth with rogue miners tho, they execute these smart contracts any way they like and charge whatever they like for it in the end.

>>1230474
murican's

But OP WHAT ABOUT MUH ROOTSTOCK?????

>>1232323
Would this be a common and serious threat?