The Dao

>>1235797
>It is always good to see cryptocurrency projects doing quite well, and The DAO offers something entirely different than we have seen before. As we explained in a previous article, this initiative will make money through ingenious ways, which has attracted a lot of attention from new and existing Ethereum holders.
Wow. Donald Trump couldn't BS this hard. Still waiting on etherfags to explain why their shitty digital tulip is actually a valuable commodity that everyone will totally want someday.

>>1235808


Well I think the DAO is a good example. it's raised 20 million so far and picks Slock.it as its service provider. That SP builds smart locks which basically can be put on anything you have ensured and then rented out. Your house being the obvious first example.

It's built in Ethereum and runs on that network. IT's value is tied to the value of Ether, and its run by the people who bought into the DAO. So a company managed on the ethereum network.

Seems like a good idea

>>1235797
What problem does DAO solve exactly?

How is it good? Wisdom of crowds usually is not very wise

>>1235808
I will repeat this, again, very slowly.

Ether is not meant to replace Bitcoin, Money or anything else..
Ether is not designed to be a Currency.
Treating Ether as an "GUNNA BE RICH" shitcoin will get you burned.
"Normal People" in the future will have as Reason to care about Ether as they have now caring about the Cooling Capacity of the Colocation center of their Bank.
Ether is the means to measure computing and storage capacity on the Ethereum Blockchain.
The "value" is not in the fucking currency, of the fucking Platform, but in what the platform will enable.

>>1236796
>The "value" is not in the fucking currency, of the fucking Platform, but in what the platform will enable.
Which is what? What will that platform enable?

>>1236853

much innovation such future very disruptive
wow

>>1236853
This. What the absolute fuck does the platform enable? Computing? Storage? In what way does it do these things better than any other method?

>>1235808

>Still waiting on etherfags to explain why their shitty digital tulip is actually a valuable commodity

You literally don't even understand what you're hating on.

>>1236980

I see the problem here. Bitcoin is easy enough to understand. Tech illiterates will never understand the Ethereum platform until its running their life. Don't worry, you can keep hating and not understanding it, I'm still going to make money.

>>1236990
Well, considering that all I've ever seen related to this shit is buzzwords and vague predictions about how "in the future everyone is going to want this because reasons": No, literally do not understand what I am hating on.

That is why I am hating on it.

Saying "you just don't understand" makes you sound like an artiste who just painted lipstick all over a urinal and called it art. So, by all means, educate us. What is this... DAO good for? What does it actually -do- that people want done? How is what it does better than what is out there now? Right now you just look like a fool.

>>1235797
How do I jump on the DAO train? I've got about 40 ether. I think I could part with about a dozen for fun.

>>1237179
put it in an account at myetherwallet and send it.

>>1236993
>>1236990
I get the feeling you don't understand it, either, given your reluctance to explain it. Sounds to me like you bought into something you don't understand, and are trying to hype it up in hopes the hype train will carry you to profit land. That or you know full well it's a load of hot air, and you're acting in bad faith.
Until you make some effort to actually explain why DAO is of use to anybody, I can only assume you're full of shit.

>>1236796
>Ether is not designed to be a Currency.
Oh please, let us not pretend everyone is using Ether as a bad. Means shit what is it "designed" for.

>>1236980
It allows you to set up applications that literally cannot be shut down once they're up.

This is going to be very very valuable in the future, especially for illicit, highly profitable unmentionable activities.

>>1237165
DAO is an application that can't be shut down, it acts as an investment bank. You put money (Ether) into it, It then invests that money in something the community votes for, and then the profits are divided based on investors and sent back to you.

"TheDAO", stupid confusing name name, is the first 'DAO'. It is generic organisaiton and it's first investment is Slock.it.

Other DAO's can and will be made. One specifically to fund illegal drug trade for example.

The interesting thing is, because it's decentralised:
It cannot be shut down, and tracing the funds and linking it to a persons is going to be very difficult if that's the intent.

Really what DAO's doing that no one wants to mention, and Ethereum itself... is that it circumvents the law in a way that can't be stopped (like how Bitorrent's can't really be shut down, only the websites hosting them/links, but once you have the magnet link, it's decentrlaized, there's nothing anyone can do to stop you downloading the file off other's computers)...

It's literally legalized techno black money. The authorities at the moment seem to be too dumb to realise it's horrific potential, meaning it's currently very very undervalued.

Ofcourse there are a lot of other uses, It can be used to prevent things like election fraud, it can be used to create global 'polls', gambling, but we could do all those things without it.

The 'new' thing it brings in though is the inability to be shut down or comprimised easily, no matter how much old boomers cry scream, threaten to sue, yell "DELETE THIS RIGHT NOW"....Nothing can be done once a piece of software is on the ethereum network, other than go around and destroy every copy of ethereum on everyone's computer globally.

>muh technology muthafucker

>>1237587
What problem does it solve exactly?

>>1237637

Shitcoiners actually believe there can exist a situation where the USD will collapse and/or you'll be forced to anonymously send money, but somehow their magic internet money will help them buy groceries or be useful at all during a fiat or grid collapse.

Blockchain is a failed experiment with no practical purpose..

Cryptos are just pump n dumps

>>1237589
This is the actual correct answer. As long as anyone pays some amount of the currency into a running software application, that software application has complete, reserved space on the entire network and can not be removed without completely destroying that network. It's a totally legal way to distribute software that cannot be deleted. It's not important for day to day peeps but it's extremely important in that its value is directly represented by the software that runs on top of it.

>>1237666
This is the actual correct answer.

>>1236796
I saw an interview with Max Kaiser, bitcoin fund guy, the interviewee was with Ether and said "Ether is like the oil that powers the economy, Bitcoin is like Gold, a store of wealth"

So the way I take it is that Ethereum is a commodity, and that commodity is worldwide computing power on the ethereum network

>>1237666
But how can you be so sure that the dollar *won't* collapse? Every fiat currency in the past has at some point collapsed, and on top of that the $$ is coupled to oil, what do you think will happen when oil runs out/becomes obsolete?

>>1237165
It like a crowdsourced Venture Capital firm.

>>1237637
Piracy networks and a silk road 2.0 that can never be shut down paying dividends to accounts that funded it through the dao without some middle mad than can be arrested or killed.

File: 5.png (111KB, 639x480px) Image search: [Google]

111KB, 639x480px

>>1237666
what a fucking retard you are
https://www.youtube.com/watch?v=cnm7nh7LVPA

>>1237892
>he thinks there is some sort of counter intelligence being used to decieve shitcoiners on an armanian shadowboxing forum
Kek

File: 1392473901820.jpg (101KB, 600x606px) Image search: [Google]

101KB, 600x606px

>>1237905
>implying you know what I'm thinking

>>1237914
>walks like a duck
>quacks like a duck
>posts the most retarded ass pic like a duck would do
Come on bro, it aint too hard.

>>1237892

>thinks calling a spade a spade is info ops

I can you're still in the denial stage

>>1237589
>You put money (Ether) into it, It then invests that money in something the community votes for, and then the profits are divided based on investors and sent back to you.
Why would I want the average /biz/poster voting on how to invest my money? That's fucking retarded. All you'll end up with is a bunch of DOGE and shorted PRAN.

>It's literally legalized techno black money. The authorities at the moment seem to be too dumb to realise it's horrific potential, meaning it's currently very very undervalued.
Perhaps you didn't notice but various illegal trades (the drug trade for example) do not need a capital infusion. What is a cartel going to do with a bunch of extra cash? Upgrade their drug running vehicles? Buy uzis for every employee? The main barrier to the drug trade isn't that there's not enough money. There's plenty of that. The main barrier is the fact that the business is illegal, to whit: You can't attract the best or brightest employees because they have skills that make them far more valuable as traditional members of society instead of criminals, the employees you do have have a nasty habit of winding up in prison, and every material aspect of your business is subject to arbitrary seizure with no recourse.

>Hue hue I'm subverting the system! Down with THE MAN! I'm gonna get rich because all those squares don't realize the power of muh technology.
In the best of cases you are going to have idiots wasting your money on terrible ideas. In the worst of cases you'll just be giving money to gangsters who will turn around and not pay out because what are you going to do, come to their door and ask for it?

>>1236796
>circa 1905
>Henry Ford invents his T-model or what ever

The public: Hey, so we must use this weird thing called gasoline to run this weird box on wheels without a horse? Holy crackers the whole world is going to use this, its going to make crude oil prices go way way up. G O L D TWO POINT OH WHEN?

Henry Ford: No, gas is nothing more than just a comodity that makes this technology work, im sure gold is going to stay gold for a long long time. Please dont treat oil rig mining as a "gunna be rich quick" scheme


To be fair if this technology is going to kick off it needs to have an incentive for mining or keeping the flow of cash up to a high level. Yes, when ether really kicks off in about 2 year and makes mining obsolete(switch from PoW farming to PoS jewing out) when people realize there is so much potential, it will be treated as internet 2.0 and it will be important for you to have an incentive to keep as much as possible. There will be ether barons i guarantee it

>>1238113
>internet 2.0
You're retarded. Name just ONE mainstream use for ethereum.

>>1238209
Golem project - pay for computation (summer)
String - synthetic real world securities though CFDs (2 weeks)
Akasha - social media (Alpha soon)

>>1236853
Best Explanation: https://youtu.be/Kbu-Xbr3fdQ?t=6m00s

>>1238265
Nope. The first 2 are never going to become mainstream. Explain how (or why) your average individual would use either.

>social media
Kek.

>>1238303
That was pretty bad. I can see why it didnt get much views or attention.

>>1238312
>>1238324
why

>>1238337
I'm in the DAO but let's be honest and accept that this stuff is ultra-niche nerd stuff with no practical use by normies.

>>1236946
doge will never be funny

>>1238113
Lets see. Model T vs horses
>goes farther
>goes faster
>more comfortable
>carried more passengers
>no need to tack up to go somewhere just hop in and go
>needs only a moment to refill the tank every so often
>fuel is cheap
>vehicle is cheap
>doesn't need food, stables, farrier services.
>wont go lame
>won't be eaten by wolves
>wont die, freeze, starve, get diseased

Eth vs cash
>decentralized

>>1235808
So here's the concept:

>DAO pays Slock.it to build smart locks and other smart terminals to act as payment terminals
>Slock.it builds said items using funding being raised right now, retains rights & patents to sell the hardware (transaction/payment terminals)
>The DAO retains rights to the network (like a VISA or Mastercard for cryptocurrencies), and takes a (small, 0-5%) share of all transactions processed on the network, and utlizes the Ethereum crypto tools & hashing power to process the transactions
>the DAO keeps the profits (aka transaction fees) from the users who use the hardware built by & purchased from Slock.it

That's how this particular DAO is initially proposed. Now, if the DAO opts not to invest all of the shared funds in Slock.it, they can alternatively invest in other ventures proposed by DAO members. In this way, the DAO is like a hybrid of crowdfunding and VCs, in the sense that you vote on things you want to see happen with your money/DAO stake (a la a crowdfunding venture), but instead of a shitty mug, you get a share of profits generated or equity in the ventures voted on, per the agreement terms voted on by the DAO and agreed upon by the people/companies requesting sponsorship from the DAO.

It's genius, somewhat simplistic, but ultimately has the potential to be incredibly lucrative.

Like all start-ups, slock.it is a crapshoot, and who knows what will happen in the long run, but it's worth throwing a couple hundred bucks at it if you can spare it, because if the funds from this DAO wind up financing the "sharing economy" of the future, that ownership stake could be worth some real money in a few years, plus it would likely pay royalties (IF people actually use the tools slock.it winds up building; we'll see, but the precedent is already there for ride-sharing, automated payment terminals, etc.; the only difference is that instead of using dollars to process your next bike rental or taxi ride, you could use Ether/BTC, etc.)

>>1238622
So the real benefit there becomes if someone wants to create an unstoppable clandestine organization.

You invest in the "Cartel 2.0" DAO, each member votes on business decisions related to trafficking, and then the drug underworld gets hold of this network to both launder money and support their business; you force drug buyers to pay with BTC, use the Ether network to process payments, and the venture is backed by & funded through a DAO. The profit-sharing is immediate, irreversible & unable to be traced to a specific person, and the funds are laundered automatically via transactions processed using the crypto exchanges.

>>1238665
>smart locks
Stupid idea. Keypads already exist and they are usually high niche (vaults, high security clearance areas, secure data centers) because your average joe doesnt need to shell out extra money for a super secure locking mechanism when keys work fine. In the rare cases that someone has access to your keys and abuses that access, it is extremely easy and cheap to replace a lock. I hate worthless tech startups that try to find complicated and expensive solutions for products that were already efficient as is. You havent even explained how this would replace a simple keypad with a changeable code or a door card reader. I actually heard some retard on here mention Airbnb as to why this is going mainstream. Topkek.

File: maxresdefault.jpg (33KB, 1280x720px) Image search: [Google]

33KB, 1280x720px

>>1238676

>>1235797

Is this the Digix DAO stuff?

>>1236853

It will enable big corporations such as Apple to become impervious to any legislation or laws or pretty much anything trying to stop them. Big corps will become unstoppable entities stored safely in an encrypted cloud.

It's fucking future shit beyond our comprehension

>>1238719
You dont even know what a smart lock is

>keypad

Go away grandad

>>1238973
Nein.

Its decentralised which means no apple, google botnet etc

>>1237715
Ether is irrelevant thanks to Bitcoin's sidechains (see Rootstock)

Thing is just that slockit doesnt seem appealing. There is no obvious upside to using ether for renting as opposed to credit card or paypal. Even worse, legal recourse becomes harder when something goes wrong with the rented item.

Im open to discussion and i like crypto but slockit just seems meh to me.

The irony with all these "decentralized" apps is that they need to anchor to an oracle in the end, which is always a centralized point of power and based on the existing legal system.
For example, if we have a dao that has to payout based on some events irl, lets say weather events, you still need a trusted source to give an account of this event, lets say a well known weather API.
Now this is still a centralized, corruptible entity that can make errors as well.
So the weather API publishes the wrong data and the wrong ppl get payed through the dao... there is absolutely no legal recourse at this point...

On a philosophical level, i think this whole lust for decentralization comes from the (subconscious) will to be free from power exerted by more powerful individuals and institutions (kind of like lolbertarians), but its a pipe dream in the end.
See how fast power got usurped in BTC by the mining cartels and dev team.
So part of ether is an illusion, power structures will exist in any field that has value to humans... just make sure you grow in power.

>>1235797
whatever happened to lisk. fuck these trinket coins.

Slock.it team holding a Q&A on the dao and their proposals right now. www.youtube com/watch?v=YuAkeYwsXrQ

>>1239034
Lol rootstock. Nope

>>1239102
Thats not how it works.

A betting market can predict and determine events without a centralised oracle

>>1239034
nice rootstock meme

it's pretty funny how clueless everyone here is. it's making me want to buy even more ether :^)

ethereum is basically buttcoin + stored code. you can send your buttcoin to some contract address and that contract can split it into 3 pieces that go to a savings account, your insurance and your mom. that same contract can also do whatever the fuck else you want it to do because it's just code

you could decide that the contract doesn't send that money unless a shit sample that's biometrically tested to be yours and less than 24 hours old is sent from some other contract

there is no other public network on earth that makes money this malleable. there's going to be a lot of asspain on this board when ethereum is more successful than bitcoin 2 years from now

>>1235797
I read this whole thread and nobody has yet explained how this shit is actually useful or improves on any existing models. Its whole premise is that decisions are made autonomously by a large group of people? Sounds like you introduce an unnecessarily high risk of groupthink. I'm not seeing the vision at all gentlemen.

>A person is smart. People are dumb, panicky dangerous animals
-Kay

>>1236701

The Dao is like a meme word for corporations in the Ethereum network. There are some differences (check for yourself, i'm not an expert, but this is what I know):

> DAO is a funding for an idea. Because it is based on the blockchain, the funding would be returned if funders reached consensus that project did not meet potential, or did not spend money where it promised

> a DAO can be for any project, the first DAO is for Slock.it (a physical lock based on Ethereum. You can lock anything and build a smart contract for something tha unlocks it. Like a paypal payment to unlock your house etc.)

> People who buy into a DAO are shareholders. Their value appropriates back to Ether (so you can sell out the amount of DAO you buy to Ether at any time). That value compared to Ether changes based on the performance of Service.

TLDR: Dao is a corporation based on a fund me you can't cheat. funders are investors, they can change their 'stocks' (daos) to Ether if they want to cash out.

>>1237666

This is most specific misunderstanding of Ethereum I've ever read.

>>1237637

It digitizes trust. I know that sounds like some vague bullshit, but it's true.

Right now, it allows you to send me a condition for code to be executed.

You can say:

John, I want you to pay me 1 Ether (10 bucks), when you do that, I will send you this code.

You can see that code too, so I can't cheat you. You can see that it will happen when you do what i ask you to do.

This is in its infancy because it requires another language to write it, so we can't just build apps that can e.g. let you rent the access to anyone's wifi and charge you a small amount, because it's not ready for that yet, but it its technically possible. This has never been possible with any technology before.

>>1237589

Great explanation, saved.

>>1238098

You can't read or what's your deal her m80?


>is that it circumvents the law in a way that can't be stopped (like how Bitorrent's can't really be shut down, only the websites hosting them/links, but once you have the magnet link, it's decentrlaized, there's nothing anyone can do to stop you downloading the file off other's computers).

No one is talking about a cash incentive greater than the current. The guy literally wrote: "you can create a trading network that authorities cannot shut down."

This is actually the only problem a successful drug trade has.


I definitely hope and believe Ethereum can do greater than drug trading, but your only point is that you don't actually understand what he wrote.

>>1238312

What do you like most about facebook?

>>1239334
>a quote by a guy disproves the fact that crowd wisdom is superior.

Fucking boomers i swear...

>>1239334
The dao is basically a smart contract. A huge multisig wallet set up as a sort of giant fund to fund things (mainly other distributed applications) that will not only generate profit back to the DAO but also bring added value to the underlying ethereum network that the DAO is built on.

Most of the DAO investors are ETH holders or miners so there is an alignment of interests in that direction.

Slock.it is the first proposal with a high likelihood of achieving both of those goals- generate profit & enlarge the ethereum network

Holding DAO gives you the power to vote on proposals

Anyone can submit proposals to the dao for 2ETH

>>1239094
It's basically an alternative to dollars for payment purposes, but that's not the point. Slock.it could just as easily be used to process dollars as BTC or Ether or some other form of currency. The upside is that Slock.it would automatically translate that buyer's currency into the preferred format for the seller, and would (theoretically) do it with a smaller transaction fee, less time lag (most credit card transactions or paypal transactions take at least a day to clear/settle, and can be easily reversed by the buyer if they decide they're not happy with what they purchased), and (here's the big thing for a lot of sole proprietorships) with automated accounting records.

For instance, say you own a bicycle ridesharing Slock.it; you own 10 bikes with smart locks on them, people can use them at their will as long as they pay .2 eth per hour (~$2.25/hr). If someone rents your bike (aka uses a Slock.it smartphone app or other form of payment key to open it), that money is automatically deducted every hour, on the hour, from their account, and sent to you on yours. When the person locks the bike up again, and validates it by closing out the transaction in the app, the bike is immediately available for someone else to rent, you've gotten most of your money even before the borrower returned the bike, your management accounting for the transaction was performed entirely automatically, and zero human interaction was required for the entire transaction. So, as long as you can handle the paperwork involved with managing the accounting, you can scale more efficiently, hire fewer people than you otherwise would have to (if, say, you owned a traditional bike shop that offered rentals, took cash or checks, and had to hire cashier staff to perform the dirty work of actually rending the bikes), and are secure in the knowledge that you are not beholden to Visa or Mastercard's mandatory transaction fees or other onerous processing requirements.

That's the ideal, anyway.

>>1239228
Lisk still hasn't been released, to the best of my knowledge. They keep delaying the ICO.

>>1235870
>basically can be put on anything you have ensured and then rented out

>>1236796
>The "value" is not in the fucking currency, of the fucking Platform, but in what the platform will enable.

>>1237589
>It's literally legalized techno black money.

>>1237696
>value is directly represented by the software that runs on top of it.

>>1237715
>is a commodity, and that commodity is worldwide computing power on the ethereum network

>>1237717
>It like a crowdsourced Venture Capital firm.

>>1238113
>it will be treated as internet 2.0 and it will be important for you to have an incentive to keep as much as possible.

>>1238973
>It's fucking future shit beyond our comprehension

>>1239392
>like a meme word for corporations in the Ethereum network.

>>1239406
>It digitizes trust

>>1239500
>basically a smart contract

>>1239515
>basically an alternative to dollars for payment purposes

Topfucking kek. You retards cant even come to a concensus on WHAT THE FUCK THIS EVEN IS, let alone come to any agreement on a crowdfunded business platform. This is why this shit is doomed to fail because it is all hype and buzzwords and very little substance with only potential for niche markets. There is no actual real life problem that this solves or that can't be solved much more efficiently with centralized systems. So much for your brand new ponzi.

>>1239568
You realize that all those responses are people describing the same vision in different analogies, right? It's all a common concept; a secure, crowdsourced funding platform that uses the Ethereum blockchain to build-in contractual obligations and voting rights/implied trust for the funding of various startup ventures.

Slock.it is a potentially key part of the automation of daily transactions, and while it doesn't have to use Ether to perform the transaction, that's the blockchain/platform it's built on, so it's only natural that Ether would become more valuable in the long run, due to the confluence of technological advancement possible and the overall community buy-in for the concept.

BTC didn't hit it big until drug dealers and slanteyes wanted it so they could avoid losing money to government seizure; Ethereum will hit it big because AirBnB and rideshares will run off it, since the platform essentially automates many of the currently manual aspects of scaling a business (transaction acceptance, customer identification, management accounting, etc.).

File: 1528694_710750102283531_78478855_n.jpg (61KB, 960x638px) Image search: [Google]

61KB, 960x638px

>>1239568


What is a computer? What value does it produce?

Look, if you think it's retarded or you just don't understand, that's ok. But you can't turn everything into a clickbait article.

Have someone in the 80's pitch the PC to an investor. I fucking guarantee you 90% of them said what you said. The last 10% didn't and then they came with a product for the 90% which made them go "Fuck why didn't we see this sooner".

>>1239568
100% dead on. These guys don't even know what it is, let alone explain it concisely.

>>1239582
>Ethereum will hit it big because AirBnB and rideshares will run off it
Naw.

>>1239584
Appeal to novelty.

>this is going to become mainstream because its a brand new technology! All brand new technologies are useful! People didn't understand the PC in the 80's and people don't understand what the fuck the DAO is so this means they are both the same.

You should feel shamed for even making this comparison but you don't. Stupid people rarely feel shame.

>>1239622

Why should i feel ashamed? Neither of us has any clue what Ethereum will be come and you don't even understand what it is. How can you possibly feel provoked by me making this comparison?

>>1239622
You know sage doesnt work on here? Seems like you have a grudge against ethereum. Why?

>>1239568
wow, look at you defeating every internet argument on 4chan

aren't you just brilliant?

>"a bunch of kids on 4chan can't explain it well"
>therefore, it will never work

there's a reason that a lot of extremely smart people are backing this shit. continue to feel superior about your ignorance while these "retards" make money from actually having a shred of a clue more than you

"I think there is a world market for maybe five computers" - Thomas J. Watson, IBM Chairman. 1943

>>1239829
"I think Betamax is going to revolutionize the movie industry as we know it" - some dumb retard that nobody remembers the name of. 1975

File: 2ac82099d8a3ce66a40c278f90291dfaecc6fb36.png (3MB, 1201x1227px) Image search: [Google]

3MB, 1201x1227px

nice sub
https://www.reddit.com/r/TheDao/

>>1239666
Jesus, if you even need to ask that question at this point.. personally I wouldn't be caught dead with ethereum in my wallet.

File: ASDAO1.png (12KB, 651x651px) Image search: [Google]

12KB, 651x651px

>>1237179
download the mist client. "google ethereum mist" get the one for your OS. follow the instructions on daohub.org it will take less than 1 minute :D

File: eth.png (609KB, 750x833px) Image search: [Google]

609KB, 750x833px

>>1239666
>You know sage doesnt work on here? Seems like you have a grudge against ethereum. Why?

cuz that little faggot missed the 40x boat AHHAHAHAHAHAHHAHAHAHAHAHAHA

File: Ethereum-launches-1.jpg (124KB, 3200x1801px) Image search: [Google]

124KB, 3200x1801px

>>1240293
>Jesus, if you even need to ask that question at this point.. personally I wouldn't be caught dead with ethereum in my wallet.

stay poor faggot

Whos voting yes on slock.it maximum proposal?

Voting yes masterrace

>>1240436
Please explain the options

>>1240556
Only option: vote yes on slock.it

Implement usn.

im going to guess that they will ask for less than 1 mill!

File: 1437394719051.png (171KB, 374x347px) Image search: [Google]

171KB, 374x347px

can somebody give me a TLDR of this?

I don't even understand the dao, even after reading a few articles, and where can I buy in?
What profits can I expect?

>>1241148
This.
>>1239568

>>1239568
>This is why this shit is doomed to fail

Because a bunch of unemployed NEETs cannot understand it? Come on now...

Dao is life

>>1241148
please? anyone?
I really want to do this, however I still don't understand the basics of this..
will there be like a market for the dao tokens? will they rise in price as well?

I'm with you say we halfway understand the concept - what we would like to get an understanding of is should we buy etherium or DAO tokens. If the DAO is successful will it drag etherium up as well? Help me out this niggas got kids.

>>1241148
>>1242500
I would but I'm really REALLY tired, I can't sleep though because insomnia, by the time I can give a proper response it'll be too late. Try reading the daohub site and their forum faq, and other shit. It's not as complicated as it seems, it's self describing too, a distributed autonomous organization, the members and software itself are distributed and not centralized, it's software so it's autonomous it only relies on humans a little bit for curation, and it acts as an organization, something you can go to for a particular purpose (more than likely mostly investment in the case of this dao).

>What profits can I expect?
You receive rewards depending on the contracts that get voted on, if for instance someone wants to receive a lump sum of x ETH for a reward ofy% of earning annually that is possible, it all depends on what the contract is what the voters choose. Again you should read up on it, I'm skimming over details here and am really tired.

>>1242522
ok will do thank you

how much should I invest? 25% total of my eth? 20?

>>1242527
My professional financial advice is to research the product you're considering investing in before investing in it, I'm not saying you have to understand it fully if you're okay with taking risks but I think you should decide on the amount yourself since my opinion shouldn't matter or relate to your decision.

pls dont hate on me, but what is etherium or dao or whatever? i know about cryptocurrencies like bitcoin or litecoin, but Ive never heard these other things

>>1242533
I'm reading through it right now

but maybe I want to know the opinion of the goyim?

wtf obviously you should NOT invest in stuff you don't even understand! You don't need to read a book to know that!

>>1239500
>Holding DAO gives you the power to vote on proposals
Voting power doesn't really equate to getting rich. How do I get rich off DAO?

>>1243183
By holding DAO and collecting on the ROI from successful project.

>>1239862
The markets follow what porn and drugs decide on.
The first drug trading market to get funding from the DAO will send this shit to the moon. Does the DAO have any conditions that they say they won't fund illegal things?

most importantly, how can I convert my dao tokens into $ again???

>>1243556
They say you can trade them like regular tokens once the creation period is over. But if I were you I'd hold on tight to these fucks until some good DAPPS come out and no coiners are crying to get in.

>mfw reading this
>Total tokens created over time: No further DAO tokens are created over time through any automated means. There is no 'mining' involved in The DAO as the security of its token is already guaranteed by the security of the underlying Ethereum network.
Literally cannot be mined so if you don't buy now you'll be buying second hand at extreme markup. Here's hoping they set up the lottery DAPP for infinite money.

>>1243664
thank you anon
so there will be a market for them?

>>1239682
>there's a reason that a lot of extremely smart people are backing this shit. continue to feel superior about your ignorance while these "retards" make money from actually having a shred of a clue more than you

Yeah. They're backing it because they can get rich out of muppets.

The first DAO is hardly awe inspiring, is it? "Security locks lol" is not exactly groundbreaking stuff.

If it's such a great fucking idea, why hasn't it been used for something useful?

>>1243664
Why the hell would anyone buy secondhand at an extreme markup? You guys act like normies will be clamoring to buy this stuff lol. I'm pretty sure they are savvy to this after bitcoin turned out to be a flop.

>>1243760
Butthurt litecoin bagholder detected

Bought 300 Dao tokens, it's not much but it's better than nothing.

File: image.jpg (706KB, 1274x1050px) Image search: [Google]

706KB, 1274x1050px

>>1244013
Your contribution to the collective is appreciated

http://www.cameronhuff.com/blog/slock-it-dao-paper/index.html

Just leaving this here to assess your replies

>>1244022
The best thing about the dao structure is transparency and fairness

I've done a lot of work on smart contracts and decentralized autonomous corporations before and just want to point out how none of what's been discussed here is in any way new. In fact -- it's actually quite misleading because the original idea behind DACs was to create a series of cryptographic, economic, and game theoretic relationships that resulted in the enforcement of a service in exchange for some absolute, unbreakable benefit. To put this into more concrete terms: the Bitcoin blockchain was the first known DAC -- which was a decentralized autonomous corporation that awarded participants for solving cryptographic puzzles with stakes in the system (Bitcoin.)

The most import properties of a DAC is that it's service functionality is somehow made cryptographically enforcible in the sense that no single entity can corrupt or control any part of the system. With Bitcoin -- this is accomplished by creating a proof-of-work distributed, chain of blocks which every actor in the system can independently validate based on difficulty and nonce. What I'm trying to get at here is this: if a system relies on the good graces of oracles to enforce some part of its behavior -- then by definition such a system is not a true DAC but rather a very complicated way to run a more typical organization.

In the case of Slock.it, there's absolutely nothing that's decentralized or autonomous about it as its functionality is still dependent on real world outcomes which cannot be cryptographically enforcible. This means that only systems whose parameters can lie and be controlled internally could ever for part of a DAC. As another example, a while ago I made a DAC that rewarded participants for breaking serial chains of hashes with assets. The serial hash chains were tied to public key encryption in such a way that anyone could use the public keys to have information released in the future without a third-party

Cont.

>>1244063
Cont. I find it depressing to watch how companies are basically misrepresenting all of our research and marketing it to people like the ones in this thread to make a quick profit.

For example here's a brief table of how the meaning behind words are being twisted in the Bitcoin space:

Decentralized -- Bitcoin uses this to mean that every actor in the system is equal and no one has the leverage to singularly control the system. It's the highest possible standard for security and trust attainable yet almost everyone who uses this term in the Bitcoin space actually means "distributed." Case in point: B & C exchange who claim to have a "decentralized" exchange despite the fact that the exchange is controlled by a network of oracles (that can be hacked -- which is in no way Bitcoin like at all.)

Blockchain -- Used to be a public consensus system. Now its ... god knows what. A better way to move assets between banks? I honestly don't even know.

Smart contract -- Originally used by Bitcoin developers to construct cryptographic protocols for achieving a strict and infallible result. Example: trading assets across blockchains. Reality: smart contracts are now anything that uses Bitcoin for finance regardless of whether it has anything to do with cryptography or not.

DAC - A formalization of the properties of Bitcoin, like I stated. Now, it's being used to describe voting systems which actually aren't Bitcoin like at all. Incidentally, most originally smart contracts had almost all the same properties as Bitcoin -- they just weren't open to participation by everyone.

So seriously, fuck everyone in this thread. You people are the reason why companies can get away with doing this kind of bullshit like providing solutions that aren't secure or decentralized -- because you all buy into their bullshit quite literally, the moment they use a buzzword you think sounds cool.

>>1244016
Next stop is MAID SAFE COINS.

To the moon!

>>1244068
Shut up nigger, to the moon!

Jokes aside, yes it's fucking sad that companies are using buzz words to trick people into buying it and it can be a Dot Com bubble all over again.

With that said, at least we're making progress towards decentralization everything.

(etherum, maid safe etc)

>>1244072
>>1244072
>With that said, at least we're making progress towards decentralization everything.

A decentralized AirBnB, Uber, crypto coins etc.

File: 1454724222402.gif (436KB, 182x179px) Image search: [Google]

436KB, 182x179px

>>1243748
Yeah. You'll be able to trade them on an exchange like any other coin and it's likely that big exchanges are responsible for a lot of the tokens purchased.

>>1243767
>lottery dapp gets made by the DAO that doesn't require government regulation or confirmation that you'll actually get your reward if you win
>create transaction apps that allow normalfags to input regular money in exchange for a ticket to said lottery
>easy ROI brings huge profits for holding even knew DAO token
>cucks that missed the boat desperate for the same gains buy up eth in order to buy DAO tokens
>drive up the price of both
I'm holding 5k tokens now. Even if it were a dollar a token I'm sitting pretty. See you there.

>>1243767
Also just realized that DAO tokens will be worth 1.5 eth by the end of the creation period with the option to cash out once creation is complete. Theoretically a person with 100 tokens will have 1.5 run eth by that point. A free 50%. Although I think it's better to hold it since the potential is higher in trading it on exchanges.

DAO is crowd investing, right?

"Wisdom of the crowd" and all that shit, right?

BUT...

Crowds are generally stupid, are they not?

There is alot of negativity in this board about cryptocurrency, how it's a scam, it can't be done, shills etc.

I remember when on /g/, shills were telling people to buy bitcoins when it was $3 per coin but I didn't buy it because it sounds like a scam and it's weird.

So how we have etherum and DAO.

People love to scream "IT'S A SCAM" but later shit their pants when etherum hits $100+ in the future or something.

If you don't have $60 to gamble and buy coins and see your investment grow then just shut the fuck up poor fag.

>>1244194
Normies don't use DAO, your crypto investor is smarter than the average bear.

>>1244200
No he isn't. If he was smart, he would not invest in magic beans internet money. He wouldn't gamble it all on virtual dice.

>>1244198
Because all this shit is unproven and little more than pump and dumps. Go to an exchange right now, look at the last two months history and try and justify in real terms the persistent 20-30% weekly or fortnightly swings in value.

ETH only has any volume because it was shilled so.fucking.hard and persistently for months and months on end. Sucking in broke clueless NEETS with promises of riches. Now all these NEETS are sitting in trollbox pretending to be day traders, thinking their $200 of DOA tokens are going to make them rich because they read a webpage full of buzzwords while making "bold" predictions about whether or not ETH will drop 1%.

Only one thing is for certain, and that's all this "smart money" evaporates as soon as BTC jumps $10.

>>1244216
>Because all this shit is unproven and little more than pump and dumps. Go to an exchange right now, look at the last two months history and try and justify in real terms the persistent 20-30% weekly or fortnightly swings in value.
Sure. But bitcoins and eth isn't going anywhere. Stay away from lol tier coins like Trump coins and Bern coins lolwtf.

>>1244216
>ETH only has any volume because it was shilled so.fucking.hard and persistently for months and months on end. Sucking in broke clueless NEETS with promises of riches. Now all these NEETS are sitting in trollbox pretending to be day traders, thinking their $200 of DOA tokens are going to make them rich because they read a webpage full of buzzwords while making "bold" predictions about whether or not ETH will drop 1%.

Who cares, $200 is chump change. But what if the $200 they invested turned into $10,000? That's a decent chunk of money to RE-INVEST again into more coins.

>Only one thing is for certain, and that's all this "smart money" evaporates as soon as BTC jumps $10.
What? Explain.

The shills, the bickering is all just noise. The smart people are buying bitcoins, eth, maid safe and DAO and laugh all the way to the bank in the near future, while no coiners scream "but block chain technology is a scam!"

White neckbeard kids living in the suburbs are funny.

By the way, blockchain and eth is the enabler to net 3.0 and Internet of Things and sharing economy.

>muh buzzwords

>>1244223

>Only one thing is for certain, and that's all this "smart money" evaporates as soon as BTC jumps $10.
>What? Explain.

Everytime BTC jumps around $10 or so, everyone dumps their ETH and alt coins. If they had any real value besides flipping on Pol or Kraken, people wouldn't abandon them so readily. It's just further proof in my mind that all this activity is purely speculative.
Which is fine by me to make some money for doing nothing but jumping on and off the bandwagon, but you're not getting by holding 100 ETH or 10,000 DAO

>>1244225
not getting rich*

>>1244125
>Yeah. You'll be able to trade them on an exchange like any other coin and it's likely that big exchanges are responsible for a lot of the tokens purchased.

Are you 100% SURE? because I like to know how to get my money when I decide to get out of this

>>1244198
>I remember when on /g/, shills were telling people to buy bitcoins when it was $3 per coin but I didn't buy it because it sounds like a scam and it's weird.
Bitcoin was a scam then and it's still a scam now. There's nothing useful you can do with Bitcoin. No, buying a pizza doesn't count. No one wants to hold BTC because its value fluctuates too radically for use as a currency and everyone who does real transactions in BTC does it by having both parties buy BTC on the spot and then immediately swap it back for their preferred currency.

>People love to scream "IT'S A SCAM" but later shit their pants when etherum hits $100+ in the future or something.
No one is shitting their pants over the value of BTC except you, so I guess this point really only applies to gullible NEETs. No real human being actually cares about the value of BTC or treats it like some sort of investment. Currencies aren't investments and the fluctuations in their relative prices are incidental to what they are actually good for: Buying and selling real goods and services.

and another question : where will my tokens be, and how the cuck do I access them?

since there's no wallet for tokens and everybody is just sending the eth to the same address...

>>1244231
Read the fucking site if you don't trust me. You can trade tokens however you like and will be able to trade them on exchanges. There is no mining so unless backers want to sell, there will be no entry into the DAO after this month. You can "burn" your tokens in exchange for their base eth value which I assume will be 1.5 eth per 100 by open but then those tokens are gone forever and the remaining backers now have more value because of lower supply.

>>1244246
and do you know anything about >>1244237 ?
Also, if it is like you describe, why doesn't everybody sell their houses to burn tokens for eth with 1.5 the value?

>>1244237
Have you read anything at all?
Onen the ether wallet on your desktop
From YOUR account, send ether to the DAO address
You'll immediately get DAO tokens assigned to you in exchange
You can track tokens through the wallet

Just fucking read.

>>1244250
>track tokens through the wallet
ok that's what I wanted to know.
Do you anything about the process when I decide to migrate my wallet to another pc? It doesn't have anything to do with it and is just downloading the blockchain and "signing in" with my wallet ID and my password, right?

>>1244249
Right below you senpai.

And I won't sell at 50% because I believe I'll get much more than that in the long run. It's the same reason you wouldn't sell bitcoin when it jumped from $1 to $5.

For instance they're in talks of a lottery dapp that if executed could bring huge returns to investors.

>>1244256
why isn't this a bigger thing then? I find that hard to believe. I mean everybody has a chance to multiply his money by minimum of 1.5 with next to no risk?!?

Also, how much of my ether should I transform into dao tokens? All of it?

>>1244252
I guess. There's a backup function on the wallet so you should just be able to move it on a drive

>>1244257
Your uncertainty is why. Also second largest crowd funded project of all time and growing is hardly "not big". Make your own choices after you do actual research on what it is.

>>1244261
that's not a real answer. I did my research, and I think I understand all of the relevant things now.

Still, the question remains : who guarantees that it will be worth more after launch? Not generating new ones is not a reason, since the token price can drop by itself.
And also, why the FUCK should we be able to sell the tokens for a GUARANTEED 150%? that's just stupid and seems to good to be true

This is semi-related, how long should it take to sync to the block chain/'download' ethereum? It's taken me just under 2 weeks to get just halfway, i don't get any error messages it just takes a really long time for the nodes to sync, can anyone help me out?

>>1244263
>I did my research
>doesn't even know the wallet can track tokens much less how to get any tokens or what they're used for
Get the fuck out of here.

>>1244265
>2 weeks
I think it took me like 5 hours to sync the whole thing before they implemented fast initial sync, I heard some people say when using fast initial sync they can be up to date in like 2 hours. Do you have some really slow connection or something, because 2 weeks seems way too high.

>>1244263
Also it's 50% not 150%. 150% would be turning 1 ether into 2.5. The idea is that you're in the DAO for future return on investment projects. You can settle for an easy 50% but you're missing out on even day one on exchanges when late adopters realize they can't just mine it and in order to buy any they'll likely have to get it second hand from backers that won't settle for anything less than 1.5 ether per 100.

>>1244234
> There's nothing useful you can do with Bitcoin.

> Buying illegal shit anonymously is not useful

This retard kek

Also, Btc has been stable for last months, not fluctuation a lot

File: 1458933957641.jpg (162KB, 1462x1462px) Image search: [Google]

162KB, 1462x1462px

>>1244290
This right here.

>mfw the DAO was created purposely without language forbidding the funding of illegal shit because it exists in no country and therefore has no laws to follow outside of the combined morals of the backers.

>brb voting yes on an ethereum network silk road with small portions paid to DAO backers

>ehtercuck shills coming out of the woodworks
>again

What is this february?

I know it was the same 3 cucks with proxies that swindled the masses the last time and hopefully they haven't forgotten their lesson already.

>to da moon
>muh new paradigm
>no coiners btfo
>:^)

>>1244307
>Nocoiner laggard coping strategies engaged

>>1244271
fuck you.

Also, how much of your ether did you invest, goys?

>>1244307
Wow!

File: 324.jpg (11KB, 250x240px) Image search: [Google]

11KB, 250x240px

>>1244312
>claims to have done research
>doesn't even understand the basics
>>f fuck you
>how much should I invest though

File: 1433358265108.jpg (98KB, 1024x904px) Image search: [Google]

98KB, 1024x904px

>>1244319
listen up, goy.
I asked some questions while reading through the articles to confirm my doubts.
Now I want to know how much the other goys in the Kibbutz are investing. Nothing wrong with that, ok?

File: image_0.jpg (23KB, 480x600px) Image search: [Google]

23KB, 480x600px

>>1244324
A small investment of your mothers market value in eth.

Just bought 100 ETH worth of DAO at Poloniex, just play money. Let us see if it goes anywhere.

>>1244307
>/biz/tards
>learning

lmao

>>1244225
LOL
I remember when Ethereum was $1-$2 per coins, the amount of no coiner cope and personal attacks on Vitalik was through the roof.

How does it feel missing 5-10x gains? Hell, how does it feel missing 2x gains?

ok faggots.. I'm going to be a fucking millionaire! :D
I've already made 30x my ether investment and if this DAO thing takes off i will be a full bonefied millionaire :D

cheers faggots!

>>1244637
>a full bonefied millionaire
are you a skeleton?

>>1244751
>>a full bonefied millionaire
>are you a skeleton?
bonafide
autospell. Who has two thumbs and don;t care??? :D

File: 1451460312538.png (511KB, 696x701px) Image search: [Google]

511KB, 696x701px

>>1244329
fuck, why can't anyone answer that?
Should I just do it? Invest all of my eth?

>>1244792
Who cares? You will always be poor no matter what you do. Its in your genetics.

File: pepe1.jpg (12KB, 251x242px) Image search: [Google]

12KB, 251x242px

>>1244792
>he doesn't know how much his mom is worth in eth

File: ARSF_DAO_2.1.png (438KB, 864x860px) Image search: [Google]

438KB, 864x860px

>>1244806
>>1244792

>Who cares? You will always be poor no matter what you do. Its in your genetics.

Don't listen to this faggot!
I put 33% in :D you do what you want. Just remember, wish it goodbye.

I wished my btc goodbye when i got some presale eth, and that nigga came back with SHIT TON OF GOODIES if you know what i mean.

but i was able to afford it, and if i lost it, i wasn't going to lose sleep over it. Do what you gotta go.

File: cuck.jpg (68KB, 700x700px) Image search: [Google]

68KB, 700x700px

>>1244808
>>1244806
>>1244829
I think I'll do 50%

This DAO shit is certainly going to make my life more interesting.

Interesting is good because im bored. I hope the SEC tries to shut the dao down and fails

File: images.jpg (3KB, 119x90px) Image search: [Google]

3KB, 119x90px

>>1244868
DAO-Link, is based out of Switzerland and Slock.it is based out of Germany. Where does the SEC come in to picture?? lol

>>1244892
Switzerland complies with g7 and EU money laundering and securities regs and the EU complies with US securities regs

File: Nagafever_used_roll_picture_nagafever_rolled_image__5e9ecd8aa9c1c92399adc6bddec6d5b8.jpg (383KB, 1270x900px) Image search: [Google]

383KB, 1270x900px

>>1244892
Even with the companies we fund existing in set locations, the DAO exists literally nowhere. The code to vote and hold tokens is out and being executed by all the nodes.

>my face when we openly fund illegal shit and they can't stop it

>>1244902
You sure are edgy

File: Screen-Shot-2016-04-19-at-11.07.20-PM-e1461121687178.png (1001KB, 1500x753px) Image search: [Google]

1001KB, 1500x753px

>>1244902

Not this DAO. This DAO will split before they do anything illegal! this is for the good of humanity. but i can see a DAO just to do that kind of stuff... oh jezuz!!


>>1244901

either way... it's a code that will execute! then the DAO will buy a small tiny fucking ISLAND and declares independence! sets up a building to do business, and thats that. they are already talking about that. Are they going to carpet bomb an island? with a small building that no one lives in ? lol

>>1244263
>contract seems too good to be true
download the contract
print it out
staple it to your forehead

>>1244912
>no one lives in
implying all the ethercucks wouldn't unite and move to a beautiful pacific island

>>1244912
Can i be employed by the dao? I will shill the dao full time for $50,000 a year

>>1244751
top fucking kek.

I have a certain problem with the concept of being able to burn 100 tokens for 1.5 eth after launch. What if, hypothetically, everyone burns their shit. The contract wont have enough eth to pay every one (since some tokens were bought at a lower price). Im not good enough at reading programming languages to understand how that problem is supposed to be overcome.

i have a different view. I suspect eth price will go down 50% after the token sale is over, huge speculation, but after that, thedao is in a tough spot. From say 50mill, they now have 25m worth of ether. Now they need to sell twice as much eth to fund projects, which will put further pressure on the price. Everyone will know in advance before the selling of eth, since its a vote and all, and can further speculate/anticipate a sell. Also, i think you can get cheaper dao tokens if they become tradable, and they will be. Cheaper in terms of USD or btc, but not in terms of eth since they have AT LEAST a value of 1eth.

>>1245104
ok i get it now. its not actually 1.5 but just the average of how much the tokens all costed (will probably be just a little less than 1.5 since most of the tokens will be bought a during the end of the creation phase)

>>1245143
Nope you will only be able to burn at tge current rate. If you buy after the price increase, when you burn you will get less back than you put in.

>>1245159
found it:
// Move ether and assign new Tokens uint fundsToBeMoved = (balances[msg.sender] * p.splitData[0].splitBalance) / p.splitData[0].totalSupply;
if (p.splitData[0].newDAO.createTokenProxy.value(fundsToBeMoved)(msg.sender) == false) throw;

youre right if by 'current rate' you dont mean value of the tokens on an exchange platform but depending on the actual eth in the contract and the amount of total tokens

>>1245168
call me a nerd but i think its so cool how the contract is easily readible and understandable compared to an actual venture capitalist firm.

>>1243967
Nah. Both ETH and LTC are a meme.

>>1244912
Current DAO curators when asked about illegal activity said they specifically avoided language against it because it would have to be defined within the laws of some single government which is counter intuitive to how ethereum works.

Basically silk road can be funded and run on ether using this DAO given a good business model that promises enough return.

>>1244208
Some are. Most aren't.

OK /biz/nessmen, I don't understand this cryptoshit, and I'm not going to try, if I put $50 dollars into this, how much money could it make?

>>1245254
Also, how does it pay me?

Reminder that "the DAO" is an organization with no purpose, will blow all the money that it ever gets and democracy will run it into the ground.

That is, unless someone manages to get 50%+1 of the organization, in which they will just take everything not nailed down. Which is already happening.

>>1245254
No idea
>>1245256
You sell the tokens for btc on an exchange if they happen to go up in value and then sell the bitcoins for dollars,yuan,euro or whatever

>>1245279
>unless someone manages to get 50%+1 of the organization
Being able to split prevents this. Reminder that no matter what, even if 99% of the DAO votes for something you can still choose to split by yourself or with a group, avoiding any potential loss or gain of the majority decision.

Someone didn't read enough ;^)

>>1245317
> ;^)

See this ^ ? Dont do this gay shit. This isnt rebbit.

File: ：＾）.png (38KB, 227x367px) Image search: [Google]

38KB, 227x367px

>>1245322
It's not tumblr either so stop getting triggered over text :^)

>>1245279
Reminder that a majority of the money if from whales that know what they're doing.

>>1245324
Kys faggot.

>>1245339
I don't plan on it, does this make you upset?

>>1245335
>implying that anyone who seriously """"""""""invests"""""""""" in crypto knows what they are doing

>>1245342
Yea it does because that means you will be posting more gay shit on /biz/ in the near future.

>>1245351
I guess you'll have to learn to cope.

File: 1461508084170.png (787KB, 1300x1192px) Image search: [Google]

787KB, 1300x1192px

>>1245344
>collected literal millions in crypto funds
>lol what am I doing

>>1245344
>Implying anyone who had the foresight to """""invest""""" in ethereum at the beginning hasn't seen gains you could only dream of.

>>1245357
Not really. I'd rather just derail this thread. Thanks for helping me out faggot.

>>1245363
How much money do you own?

>>1245362
I'll take "nobody on this board" for $500, Alex. Even the guy who was shilling them first here said he bought for like .80 cents. He didnt even have that many either.

>>1245363
I'm only responding to bump the thread so I don't think your plan is a good one, once it hits limit I bet someone will just post another one anyway so I don't know what your goal is. If you don't like the thread wouldn't you want it to die not thrive on page 0?

>>1245365
A billion, bitch. How much do you have?

>>1245373
We'll you're replying to one of them right now.

Made 41 bitcoins from a 1 bitcoin punt

>>1245379
>thinks bumping a thread full of nothing but shitposts does anything
Kek. You really are fucking stupid.

>>1245386
Ethereum didnt even go up 40x its IPO you stupid fuck. Hahahahhahaha

>>1245373
>4chan isn't a whale tank so whales don't exist in the community
What's it like being brain damaged?

>>1245388
What do you think you're doing, don't you know how imageboards work? Especially on a board with id's it's really easy to pick out posts that are worth reading and those which aren't, the filter helps too. The only thing you're doing is spending your time in a thread you apparently don't like talking to people who make you mad while they reap the benefit of more discussion. Are you a masochist? You even benefit people like me who like to waste your time while I'm waiting for something. Everyone wins except you.

>>1245391
Ico price was 30 cents. I sold most at around $13

>>1245393
Reading comprehension, you daft cunt. If anyone here had bought in the IPO they would be shilling it hard right after. Nobody shilled it here, therefore none of you faggots bought in the IPO. It wasnt shilled here until much later.

>>1245400
What would be the point of shilling something 8 months before it was even on the market?

>>1245391
>holding forever and never adjusting
Remember when it went to 12 then fell and then 13 and fell and continued that pattern until 15? Given good timing you can get more returns than just the net change.

>i made a bunch of money rolling the meme dice so obviously i know what i'm doing

>>1245394
>masochist
Well thats ironic, shitstain. Did you just say "filters"? Hahahahhaha thats classic. Like anybody has time to filter out posts one by one. All they are going to see is me shitting on you.

>>1245395
13/0.3 = 43.3333

43.3 x ico price

>>1245405
>i didnt make any money off anything so sour grapes

>>1245395
>I got in at the very bottom and sold at the very top!
Hahahhaha fuck no. Provide proof you ugly cunt.

>>1245408
Whatever you say, mac. Stay delusional while we keep this thread on top together. ;^)

>>1245408
You just sound like an idiot desu

>>1245413
>$13 wasn't the top dummy. That was like 15.50. Any idiot could see the top as 15.

>>1245413
You can take my anecdotal evidence as fact.

The top was $15 by the way. I never said i sold at the top.

In fact i still hold quite a lot of ETH because i know its going up

>>1245409
The cheapest Eth ever got was .50 cents per coin. Check your facts, nigger.

>>1245416
Yea lets keep bumping this retarded ass thread. Lets all be retarded together kek

>>1245422
>what is an ICO?

>>1245417
>HURR DUUURRRRR

File: gee.jpg (15KB, 250x267px) Image search: [Google]

15KB, 250x267px

>>1245427
>get BTFO
>stop bumping this shit
You realize this board was created for crypto discussion right?

>>1245420
Nope. Bullllsssshhiiiit. No proof = you are a poorfag with probably like 100 ETH tops.

>>1245427
I plan on it, obviously it benefits me that people see the OP but it's also funny to see you sperg out. Why not make a serious post at least so I know why you're mad, was it eth, the dao, or my smiley face?

>>1245431
If you're getting BTFO then why keep bumping the thread? Holy shit hahahahaha

Yes. Etherfags really are this dense

>>1245442
>coping cucks in charge of reading comprehension

>>1245438
>waaah waaaah wah
I have like 5 of you responding to me kek. I think I struck some major nerves. Never become married to an investment. It makes you get all emotional and cry and act like a bitch when someone talks shit about it.

>>1245444
>etherfag bump
Yes. Do it baby.

>>1245445
Y u mad tho

>>1245447
I will admit I was mad for like a second at how faggy /biz/ has become when people start emoting. I'm over it though. I'm having fucking fun now. This thread is all fucked to shit lol.

File: image.jpg (76KB, 636x1044px) Image search: [Google]

76KB, 636x1044px

The dao on track to be the largest crowdfund ever

>>1245445
>I have like 5 of you responding to me kek.
That's 5x the bumps for only 1 of your posts and you think this is a good thing, kekats. May as well sticky the thread.

>Never become married to an investment. It makes you get all emotional and cry and act like a bitch when someone talks shit about it.
jej
In case you're serious you should probably follow your own advice.

I'm gonna go have dinner so I'll be back in a bit.

>>1245446
bump

>>1245450
Not really. Theres just one person raging out in it.

It's ok, it's what 4chan is about, you're welcome to do it.

>>1245450
>when people start emoting
First day on 4chan? The caret nose smiley face is very common here. :^)

Leaving for real now.

>>1245452
Yea sure you have to go "eat dinner". Come back after you're done crying in the corner.

>>1245457
No its not you fag. Stop being a faggot and go suck some dick.

>>1245458
Buy ethereum. It will chill you out

>>1245451
The fuck? It was barely 60 this morning. Shill harder so we can pass star shitizen.

>>1245455
Thanks for the permission to shitpost in your thread sweety. I feel all tingly now.

>>1245461
Relax, bro. You will live longer.

>>1245463
It was a genius idea really

>create bitcoin
>bitcoin goes to moon
>crowdfund ethereum
>ethereum goes to the moon
>crowdfund The DAO from ETH
>The DAO implements universal sharing network
>ethereum goes to mars
>The DAO goes to pluto

>>1245466
Take a chill pill friend

>>1245467
30 million USD away from passing star citizen with the assumption that eth doesn't go up on value which it will since you need up but eth to buy DAO.
Next stop Andromeda.

>>1245471
Maybe get some sunlight. I heard that vitamin D deficiencies lead to depression. It would explain why you dump money into dumb shit.

>>1245472
Basically im sure that slock.it will get the funding for the USN.

$100 million is 6 times more than ethereum itself managed to raise in it's ICO.

This money will be plowed in to developing the ethereum blockchain and dapps.

Ethereum will be on steroids because of this DAO

>>1245474
Dunno about that m8. Ive been having a lovely summer so far, especially with all the money ive made from "dumb shit"

>>1245479
Naw. Youre a poorfag. I can smell it on you. So eager to seek approval from strangers online.

>>1245486
Just buy some ethereum man, seriously it's good for the heart and soul

>>1245493
I think I'll pass. I wouldn't want my life to consist of posting bullshit on a Jamaican bobsled forum and barely making a few pennies for it.

File: it prints money.gif (75KB, 409x254px) Image search: [Google]

75KB, 409x254px

>>1245477
Feels good.

>>1245498
I actually enjoy posting here though. Ethereum is a hobby of mine so arguing about it is fun.

>>1245498
You'd rather spend it posting bullshit on a Japanese imageboard making other people money for it? :^)

>>1245500
>hobby
Topkek

>>1245501
Nope I'm just here to fuck with you, bro. I'm not even trying to cost you money. I think you do that fine all on your own.

>>1245506
How are you fucking with me? I think you're confused or something.

>>1245508
Lmfao. Oh you're too easy lol

>>1245509
Okay, as long as you're enjoying it too I guess.

>>1245511
Kek

>>1245506
Yeah, im here on the cryptocurrency forum talking about my favourite cryptocurrency. It's a hobby, it happens to be profitable but so is autograph hunting or stamp collecting.

>>1245515
You're a faggot haha

>missed opportunity drives people to this behavior
Feels good being able to sit back and relax while people actually go insane. I look forward to threads on this in a few months.

>>1245519
You're just being abusive to people you don't know. Im sure you would feel better if you invested in the DAO

File: thefool.jpg (31KB, 412x543px) Image search: [Google]

31KB, 412x543px

>>1245525
>abusive
I can think of something else they're being.

>>1245522
>>1245525
Welp its been fun derailing this thread for like an hour and calling you guys faggots and shit. I can't believe it was possible to make this thread even more retarded but you guys helped with that tremendously. Thanks for taking the bait. Gotta run now

>>1245539
>literally running away
upper zuz

>>1245539
Its fine. Maybe you have another batch of salsa to prepare

File: ok.jpg (29KB, 375x305px) Image search: [Google]

29KB, 375x305px

>>1245539

File: 108xnx.jpg (35KB, 552x414px) Image search: [Google]

35KB, 552x414px

>>1235797
Ethercucks! You guys are back! Where you beeeeeeeen????? I missed you.

File: Screenshot_20160513-193137.jpg (381KB, 1409x1965px) Image search: [Google]

381KB, 1409x1965px

>>1235797
Ethercuck not doing too well, huh? If I were you I would be trying to get rid of it too. Looks ripe for another crash.

>>1245567
That $11 spike happened when those exchanges sent out that email saying "LAST CHANCE TO GET IN ON THE DAO" despite there being 48 hours left at the time, 6 hours left until the exchange rate changes, I wonder if it will move again then.

File: image.jpg (71KB, 640x843px) Image search: [Google]

71KB, 640x843px

>>1245567
Not doing too bad in the general scheme of things

>>1245573
I get it. Ethercuck has been pretty stagnant and hard to dump without crashing the price so you need another crypto that has lots of hype but no real substance to offload on to. That way it masks the fact that a lot of people are dumping ethercuck and also bloats the IPO of the other (millions of dollars of ethercuck really isn't worth millions when you go to sell it ;^) ) It sounds smart but hey at the end of the day we all know how much intelligence cryptotards have and how impressionable they are, don't we? It doesn't really take much nudging to get them to fall hook, line and sinker.

>>1245576
Oh so it went back up to its ATH???

OH SHIT you almost got me kek. I just checked the price. Nice try, bud.

>>1245582
No need to be such a sourpuss. It's time to celebrate! A large amount of money has been gathered together. It makes me horny

>>1245582
I don't know where you're getting that impression from me, I'm not exchanging my eth for any other crypto, I usually only exchange USD to cryptos and back, it's not often I trade them for each other. I'm putting ETH into the DAO to make more ETH not get rid of it, I honestly don't think it's a good idea for people to buy doa tokens if they plan to sell them afterwards, they'll make a profit for sure in the short term but I think they'd do better long term. Now doesn't seem like a good time to try and jump ship. What do you think?

>>1245589
...but it's not going in to your pocket ethercuck. The more people that buy in the IPO means the less your tiny little share is worth when people go to sell.

>>1245597
I dont know about tiny share, but I'd rather the DAO have a lot of money to fund exciting things than a small amount that wont achieve anything.

>>1245596
>honestly don't think it's a good idea for people to buy doa tokens if they plan to sell them afterwards,
Of course you don't want people to sell. You want them bagholding so you can get the most out of your DAO. It's too bad that selling is exactly what most people are going to do, huh?

>>1245600
It's really not going to be exciting though. I looked at what it's funding and it looks like all ho-hum technology that nobody else thought had any potential or use. You made the mistake of actually believing all the hype which is why you are going to baghold instead of sell like you should be and like you should have done with ethercuck.

>>1245600
this

smaller slice , but way bigger pie.

File: DAOhub-Logo-Tee.jpg (21KB, 235x235px) Image search: [Google]

21KB, 235x235px

screenshoting this for when im a millionaire

>>1245604
What is it funding? Nothing has been decided. Only a few proposals

>>1245601
>You want them bagholding so you can get the most out of your DAO
But that's wrong, if people are selling that gives me the opportunity to buy a bigger percentage later or give others the opportunity to jump in their place. The person selling their dao portion will profit for sure but only in the short term, the dao itself will be unaffected, why would it be if people are only selling their tokens? The dao retains the eth invested regardless. The only way for the dao to lose money would be if they burn their doa tokens for the eth it's worth which still benefits me as my percentage will go up, the available funds of the dao will go down but we have plenty at the moment and the sales not even over, besides to burn them anytime soon would be actually pointless, even to burn them later seems like a bad idea since a doa token would be worth more than the eth invested to create it.

>It's too bad that selling is exactly what most people are going to do, huh?
>too bad
Not in my opinion. They can do what they want with it, I personally think getting in now just to sell is a bad idea unless you really need some money right now and can't wait for a return later.

>>1245612
That's even worse.

>>1245617
is it?

>>1245617
Thats how the dao works. People vote via the dao contract on various proposals.

The dao is not live yet so nothing has been decided. There are a few known proposals so far, and the front runner is slock.it's universal sharing network

>>1245616
>autistic rambling with no basis in reality

>>1245618
Yup.

>>1245617
How so? We're at the creation phase, it makes sense that nobody has made a proposal to an organization that had/has no funds. The absolute worst case scenario I can think of is that nobody makes any proposals at which case you just pull your money back out, you can do that at any point. So the worst case scenario is that your eth sits in a wallet until you retrieve it, that's not a a gain obviously but it's also not a loss.

Once the DAO actually has a concrete amount of funds for people to see they can start writing up their proposals, you obviously wouldn't have someone make a proposal to an organization when they can't assure it can cover their asking price.

>>1245622
You will always be able to redeem 1ETH/100DAO so it will never go below current value in ETH terms

File: 1*gtsVtrYRycOO7FwCNpHYUA.jpg (45KB, 359x450px) Image search: [Google]

45KB, 359x450px

>>1245622

you will be on suicide watch.

File: images.jpg (8KB, 234x215px) Image search: [Google]

8KB, 234x215px

faggots on chan be like

>>1245622
I'd be interested in hearing what part of my post you think is wrong. Neither of us stand to lose anything either way so why not tell me what you're thinking instead of making an asinine post like that, or are you not actually serious?

If you think I'm wrong and that you're right I'm in a position where I can pull my money out and lose nothing, that seems to be what you wanted originally so why not convince me to do it if it will benefit us both?

>>1245632
I hate the slack chat so fucking much.

>>1245635
why? lots of info

>>1245623
>blah blah blah
I seriously didn't even read one word of what you posted because it looked long and full of stupidity, kek. Sometimes I randomly pick ethercucks to ignore, just for the sheer fact that anything that comes out is going to be some form of cuckoldry.

>>1245638
I will admit they're very helpful to everyone that asks questions but there's so many image macros, oh my god. It is by far the only thing that makes me nervous about the dao.
>these memesters will potentially be making votes
At least they know their shit.

>>1245639
Don't worry about it, I'm sitting comfortable and easy.

>>1245643
Genral is not as bad as memes lol
are you balls deep?

File: Screen Shot 2016-05-13 at 6.43.32 PM.png (555KB, 696x445px) Image search: [Google]

555KB, 696x445px

choo choo faggots 5 hours left.
How does it feel like to know that you will cry about this day?

>>1245645
>are you balls deep?
FUCK NO, I'm real glad that containment channel exists though, it has made general much better imo. Nothing against those people but we really didn't need all the line breaks just for le may may images.

>>1245643
Hahaha! I'm not worried one bit ethercuck. I have no skin in the game. The worst that happens on my end is I go "shucks. some NEETs are going to be trying to rub their 'massive gainz' in my face. I better avoid /biz/ for a week until it crashes and they baghold it down to nothing"

File: ethereum-cards.jpg (228KB, 1180x809px) Image search: [Google]

228KB, 1180x809px

>>1245653
i figure, i'll either lose a few grand that i made from eth, or i'll fucking pay off the house.

Im willing to take the risk.

>>1245655
Kek. That's the same thing my uncle said when he bought a lot of powerball tickets.

You ethercucks are great. It's entertaining as hell to watch gamblers go at it, I have to tell you. I can't really do what you guys do.

>>1245653
>I have no skin in the game
I'd be surprised if anyone on /biz/ did, most posts I've seen are people with at most a few thousand USD invested, I don't think anyone is going hard into it. I think the DAO statistics kind of show that as well, it may be a lot cumulative but look at the individual percentages.

>I better avoid /biz/ for a week until it crashes and they baghold it down to nothing"
I think it would benefit you to at least observe things like this instead of letting jealousy or whatever emotion that is get the better of you. You may learn something and gain something yourself instead of wasting your time being bitter, that doesn't help anyone, especially not you.

>>1245658
>I can't really do what you guys do.
This is actually kind of upsetting. If it makes you feel better it's not as exciting as you might think it is. Listen to yourself too, it really is just gambling, don't try and glorify it in your mind or get upset over not being able to participate.

I was not prepared to see levels of desperation that low.

>>1245659
>whatever emotion that is get the better of you
No emotions at all. I'm just not big on super risky investments and having to post so aggressively trying to convince people they aren't. Just think of me as a countershill. When you say something unsubstantiated or stupid, I am the one that says "wow that was pretty stupid. I hope nobody is dumb enough to believe this."

>>1245663
If I was upset over not being able to participate, I woild participate. That's what you ethercucks don't seem to understand. There is a super low barrier to entry to buying shitcoins. I don't buy them not because theyre hard to get or I have no extra money to throw at it. I don't buy them becauae I don't see any value whatsoever. All I see is a bunch of cucks trying to shill and cuck each other.

>>1245658
comparing ethereum to powerball!! YOU ARE A COMPLETE SHIT FOR BRAINS FAGGOT!

>>1245673
Hahahahaha. How mad r u tho?

>>1245667
Why do that instead of making actual discussion? Not everyone is a hard head you know, I'm still genuinely curious as to what the counter-opinion has to say as it benefits me if they're right, if the other party is right I'm willing to hear them as it would save me money. Even if I defend my belief I'm never trying to convince the other party to side with me, it's more for the sake of "here's what I think, if you can poke holes in it then go for it and I'll consider it".

I personally don't see the dao as a risky investment, eth itself I would say is for sure one but the dao isn't an added risk on top of eth. The reasoning is that at worst you end up with the same amount of eth you invested, obviously with eth though its price fluctuates. With that in mind I'm comfortable with the dao, eth itself could go either way and I am comfortable with that fact.

>>1245672
>All I see is a bunch of cucks trying to shill and cuck each other.
Sounds like a selective perception honestly. I don't want to play armchair shrink but I think if that really is the case I'd say it sounds like it is upsetting you, it's upsetting you enough to try to be disruptive or at least lash out. I don't think that's healthy Anon, you'd better spend your time in threads you do like talking about investments you care about, just hide threads like these if you think they're shitty and the people in them are shitty, otherwise you'll be jumping into a pool of shit intentionally.

>>1245681
>The reasoning is that at worst you end up with the same amount of eth you invested,
...duh? So if the value of ethercuck goes down.... dont make me spell this out for you.

>say it sounds like it is upsetting you
Kek. Nice try. I will repeat it since I guess you don't have much reading comprehension. It doesn't bother me at all. I have no skin in the game. I'm just here to countershill. If we let you guys prance around uncontested just because people are too disgusted to respond to you, then you feel like you own the place. Don't feel too special. I used to post in bitcoin, dogecoin, PND, bizcoin, ripple, namecoin, pepecoin, trumpcoin threads too. I'm just not really a big fan of shitcoins and I like arguing.

>>1245692
>I'm just not really a big fan of shitcoins and I like arguing.
Fair enough, as long as you're telling the truth.

I put 75% of my ETH in dao. Should I go all in? Is there any reason not to?

I just dropped 10 ether for 1000 DAO. will the exchanges like kraken be trading the tokens after 15 days?

File: image.jpg (58KB, 540x960px) Image search: [Google]

58KB, 540x960px

>>1245692
>comparing ETH to ye shitcoins.

But seriously you probably got pwned to hell and back in all those threads like the nocoinz shit for brains you are and that resulted in the evident butthurt we see today.

>i like arguing

Not very good at it though.

>>1245816
>being this emotionally invested
>"pwnd

You're typical /biz/ bagholder. Be sure to take his financial advise seriously.

File: IMPOSSIBLE.gif (377KB, 500x381px) Image search: [Google]

377KB, 500x381px

>>1245819
>bag holder
Meanwhile the DAO is at over 90 million invested and with 14 days left will easily surpass star citizen as the most funded project of all time. On top of that, DAO purchased mean more ether purchased which raises the price which increases the value of the DAO.

>Yfw DAO Jones goes to the fucking moon

>>1245823
Do you know that top 1% holds more than 50% of all DAO tokens and top 5% hold 95% of all tokens?

"Crowd wisdom" my ass.

I put $50 into this meme token just to see what happens. Worse case scenario I'm out of $50.

>>1245854
Good. You say this as if a bunch of faggots with $5 invested know shit about making money. I'm glad Chinese billionaires will have near complete say. We'll actually make money that way. Plus since you can't mine DAO tokens, there's literally no incentive to have a lower price, long term.

I bought $280 of DAO tokens.

Seriously guys, just fucking invest, even $100 what could be the worst case scenario? Losing $100 ? That won't fucking kill you.

You're literally missing the chance of becoming rich.

It's gotta be 99% less risky than going to the casino for fuck's sake.

>>1246129
3500 :D>>

File: 1401020975932.gif (438KB, 500x500px) Image search: [Google]

438KB, 500x500px

102 million USD worth of ETH invested into the DAO. It will be the most funded crowd-funding project of all time in just a few hours. Hold onto your asses.

>sitting on 5000 DAO tokens right now

>>1245720
Well I'm in at 35,000 DAO. May we all be prosperous

>>1246154
>>1246217
>>1246370

You guys made the right choice.

I have 4000 DAO because I can't afford more ATM, but I really wish to invest more in the next two weeks.

Buy quick because the price of ethereum is likely to increase since it all needs to go through it. And the tokens will become a bit more expensive in 13 hours. Then they'll increase day after day.

>>1246425
Part of me wishes I had a little more but honestly 4k is good in my book. If you look at the USD value of DAO it's 10¢ a token. The room for growth is insane.