Quote from: r0ach on May 22, 2016, 03:10:37 PM

Quote from: smooth on May 22, 2016, 05:54:40 AM

Quote from: phishead on May 22, 2016, 05:25:53 AM

Is it just me, or is this the same type of jibberish that I've heard that promotes ETH... So in a sense, DAO is a smart contract wallet inside a smart contract that is funded by smart contract tokens... Did I get that right?

Just think of it as a big multisig wallet where people pool a bunch of money and then vote on how to spend it. The rest of the gibberish is obfuscation.

Now imagine a giant group of people whose main attraction to pooling their money was to form a decentralized pump and dump, realizing they have to sell at the top or be forced to collectivize and work on a product together with none of the relevant skills and compete against people like Intel.

Maybe they have to work together but it isn't really clear at what level. It may end up more like an investment club where the DAO members just pick where to put the money and don't get more involved than that. (I'd say that is about the best case; anything other than that is more likely to be a horrific failure, if that also isn't). The whole thing is a novel experiment and will likely fail one way or another, but 1) we don't necessarily know how, and 2) it isn't certain.