Nothing noteworthy happened. It just dropped a ton over the past few days. I think it started dropping and people got scared so they sold as well, cause it to snowball. It got down to about 0.018 btc/eth and then started moving back up. Around 0.021 now.

https://twitter.com/simondlr/status/721013668566183936

Digix, Slockit, DAO. Not sure what any of those means, but hey the price is increasing very fast now

Are you guys watching this? +25% in like 6h now:

Ppl are buying it to be The DAO

1M ETH into TheDAO already. Pretty insane, I assume most intend to enter around day 14.

Ya no rush to get in now. I gotta do some more research and analysis to see if its worthwhile. I assume I'll be in for a bit, just gotta decide how much

Yeah, that's the craziest thing, there is no rush to enter for 9 more days. Just wait and see, get more information before making the decision. And now we have 1.8M ETH invested already. I am starting to guess 5M+ ETH by day 14 which is insane. I mean I was pretty stoked on Ethereum when it was released, but TheDao will soon overtake it:
https://en.wikipedia.org/wiki/List_o...nding_projects


Digix selling out, TheDAO going nutz, maybe I need to up my estimate of how interested people are in these new investments.

I don't really consider TheDAO a crowdfunding project. In a way it is, but mostly it is just people funding themselves.

Typical crowdfund - you give funds to a company. That company is in complete control of your funds and can produce nothing and run away with your funds if they want. You have no recourse.

TheDAO - you give funds to a decentralized contract. those funds are redeemable by you at the price you bought in for. You don't like The DAO in a month, sell back your tokens and get the price you paid, maybe slightly more, since in 8 days people will be paying more than 1 ETH per 100 tokens.

I consider DAO proposals to be more in line with what a crowdfund is. The DAO divests money to a company. That company then has the funds and can do with it what it wants.

$22.41M after one week. Any guess on what it will close at? $100M?

This is so insane, weird, FU governments, FU Uber, FU Ebay, potentially terrible investment etc. Why is there such a lack of interest here?

#2
https://en.wikipedia.org/wiki/List_o...nding_projects

Number one spot might be hard to claim, but who knows.

because as someone who put money into ethereum and augur, I still have no clear understanding of how the DAO actually works. Plus, Slock seems horrible to me.


There's a massive bubble in the ICO/crowdfunding space in the cryptos right now. The fact that Lisk and Digixdao received 6m each is a complete joke imo. If you want to own fractional paper gold, you dont need digixdao. Lisk as a coin is like 2 years too late.

I don't disagree, but given that I feel that given that it deserves more discussion. So shorters can short and investors can decide how much to invest.

Also there is a prediction market up betting on how much the IPO crowsale will reach, maybe at least some gamblers will like that?!
https://bitbet.us/bet/1255/thedao-to...rowdsale-ever/

^ don't bet on bitbet

1) can you redeem your tokens at any time, e.g. 2 years from now if they are unused?

2) what happens when the crowdfund is over, and the DAO has distributed the majority of its money 2 years from now? Who will post projects that need to be funded if the DAO has divested more money than what new projects are seeking?

3) why would anyone (or team) whose even remotely known, respected or skilled prefer to crowdfund through the DAO as opposed to setting up their own independent crowdsale?

1) if TheDAO has not accepted any proposals you can redeem your tokens back for what you paid for them.

2) Ideally TheDAO will have invested money in projects that return capital (ether) to TheDAO. If TheDAO is out of capital, new DAOs will need to be created to fund future proposals. And, if you can receive more from TheDAO than from a regular crowdsale, why you go the regular route?

3) Less regulations when dealing with TheDAO. If you screw TheDAO over, who can sue you? TheDAO has no legal identity. It would be very tough for some sort of class action by DAO token holders.

They did payout the AlphaGo bet eventually and everyone else. But yeah, they are no Augur...

Ya they did but you're still trusting your money with someone likely to be shady.

I guess if you want to create a business that is plainly illegal you would seek funding from the DAO as a means to develop your app. Otherwise, I just dont understand how anyone trying to build something reputable on a blockchain (forget ethereum for a second) would attempt to use the DAO.

Why? Most (all) other crowdsales were for tokens with value. Ethereum, augur, digix etc. They are able to give away those tokens to initial investors.

If I'm making a product that uses the blockchain, but there's no token, there's nothing I can give investors of value. I can only give them a % of my revenue. I don't see how I'd be incentivized to jump through the legal hoops of standard vc seed rounds and private funding, I am a startup with little money and don't want to pay lawyers, instead of just getting funds from the dao

I think the question is better asked the other way: why would a company seek funding from anywhere but the DAO?

Can you give some examples? Like openbazaar? Like the drug buying bot? Like a decentralized $1M guaranteed poker tournament open for american players?

heltok- I cant tell if you're being facetious or not. But OB is not expressively illegal, nor was it specifically designed to facilitate such transactions. When the world pays about 14% on ebay + paypal fees to execute a transaction of goods, I would expect that there are people who are going to build something that offers better value for people. There are hundreds of millions (billions, really) of people who are not exactly dirt poor, but dont have access to traditional credit, and would like to buy something small from a site like amazon or ebay. OB gives these people options. So im not even sure what you're trying to say here.

housenuts- Fundamentally, I dont understand what is so groundbreaking about the DAO that makes it a platform that will disproportionately incentivize entrepreneurs to use it as opposed to traditional crowdfunding methods.

If we're talking about the digital currency industry's ability to crowdfund, theres no problem: Just recently, an altcoin, raised 6m with just a stupid forum thread on bitcointalk. Augur raised 6m when bitcoin was at its lowest price.

I acknowledge that theoretically fundraising through the DAO is pretty groundbreaking-- you dont need to spend money on lawyers or developers to set up a project. With IPFS, and eventually MIST, there is no fear of counterparty risk, so you can create projects and businesses in a pseudo-anonymous fashion.

Everyone keeps saying how amazing and groundbreaking it really is, but I just dont understand why when there is nothing to "invest" in the DAO currently, and more importantly, what use cases are there for ethereum's blockchain for the end user? IoT doesnt even exist right now, but i'm supposed to believe that when it does, that Slock.it will be the backbone of communication? To me, crowdfunding inside of digital currencies is at a huge mania right now, and digixdao, slock.it, lisk are perfect examples of businesses with no use cases.

I get that you may not want to invest in thedao, I get that thedao may not want to invest in certain proposals, but I still don't get why if you're a startup company you wouldn't want to get money from this decentralized entity that has limited recourse from you if fail to do anything after receipt of money, and instead seek to get that same amount of money from a VC who sue you for all you're worth should you take their money and run.

ebay