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Ethereum VC Funds

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Thread replies: 16
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For those of you who are familiar with cryptos, Ethereum, and The DAO - I'm interested to have a discussion about the fundamental idea behind The DAO (decentalized venture capital on the Ethereum network).

Even though The DAO blew up, I think that boils down to the managing team's incompetence in security, rather than the idea itself being in-actionable.

What do you guys think? Is Ethereum-based crowdfunding/VC a good idea? How does the idea change if it's only about funding crypto/blockchain projects vs. funding real businesses?
>>
how deep is your understanding of the dao hack?
>>
>>1780529
On a technical level? Not very, but I understand broadly what happened.
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>>1780519
Retarded.

VC inherently involves counter-party risk. A bunch of code can't go after companies or individuals who misuse funds or refuse to make good on a loan.

If the DAO just wants to invest in eth-based tokens that's fine. But then it's really just a pooled investment fund.
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>>1781791
this

the way it was organized was retarded.

I think it's possible to do, though. you need to have actual legal agreements written by some contractor for the autonomous organization that stipulates conditions between some party and the autonomous organization so that a hypothetical DAO can go after people who commit fraud and whatnot

I agree with this anon that it'd be much easier to build pooled investment funds on ethereum. I think that will happen successfully first. I believe melonport is attempting this. they haven't done a crowdsale yet and are run by a non technical womyn though so we'll see if it actually does anything

on another note, I think that 99% of these ethereum startups are going to fail and waste millions.

the exuberance from this guy is cute:

https://www.reddit.com/r/ethereum/comments/5slji5/its_all_slowly_starting_to_come_together/

I don't think any of those ideas are going to be successful with the exception of maybe uport
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>>1782434
what's the difference between a pooled investment fund and what the DAO was?
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>>1780519
DAO was an inside job, a money grab staged by Ethereum Foundation and con artists of Slock.it, nothing more. If you think DAO will ever be successful, you're fucking delusional. Collective intelligence is never a good idea, especially when the immature crypto space is consisted of high school students, college dropouts, and gamblers.
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>>1783707
>DAO was an inside job, a money grab staged by Ethereum Foundation

do you realize what the hard fork did? the "hacker" never received the money...
>>
>>1780519
BTC is the only crypto worth having. All other cryptos are fucking shitcoin scams waiting to happen. 90% of the growth value of cryptos is driven by speculators.
Because let's face it guys, the only thing cryptos are good for is to buy and sell illegal products and services on the dark web.
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>>1783791
You are a fucking idiot and I hope you know that, and by spreading ignorance, you are a disgrace to the human race. Cryptocurrency is just the tip of the iceberg when the underline technology of blockchain platforms is the real game changer. It will save legit businesses fuck tons of money and make a cashless p2p society reality. Services like Uber and AirBnB are the example of the paradigm shift occurring and you're gonna die wondering what went wrong.
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>>1780519
Iconomi coin is the only coin that cat give you massive ROI this year.
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>>1783769
the security team was asking for more money even before the hack.
The community was split on if they should fund it or outsource the work,
and then oh what do you know DAO is hacked.
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>>1783769
You need to realize that Ether was never intended to be a store of value but a fuel for the network, there was no cap; it's supposed to be worthless. Then it became a "wild success" thanks to typical Poloniex pump and dump scheme and now it has some value and the foundation suddenly wants to switch to PoS and put a cap on it. Tell me if it's not a money grab then what is?
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>>1783791
>financial privacy has no value
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>>1783806
Do you like the actual product/company or do you think it'll just be pumped this year?
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Do people think a fund should be open or closed?
Thread posts: 16
Thread images: 2


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