Nick Szabo's Etherplan
http://etherplan.com/etherplan-proposal
It is capped at $5m ROI on a $1m investment. A very high risk investment (creating a social network built around wealth planning in the midst of a global sovereign debt collapse) that will probably fail and yet the upside is limited to 500% ROI over several years.
Has Nick Szabo ever created any successful s/w company in his entire life? I don't think so.
There is no Etherplan token, so no opportunity for speculative upside.
Exactly what I am warning. The insiders will siphon off that $168 million. The DAO is their personal slush fund. This is Vitalik's $18 million escapade of "pay ourselves fat salaries with your money and accomplish technobabble" gluttony on steroids.
Why couldn't Etherplan be marketed directly to investors? Why do they first need to corral them into a DAO. Because no one would invest in Etherplan.
You've got to make it part of some grand investment delusion pump in order to siphon off that money for Etherplan.
Tptb. Looks like you were completely wrong about the price of ETH. It's $18 now, probably rise even further soon. Why don't you stop spending your entire time FUDing great projects like ethereum and spend more time going for walks in the countryside with your family
What are you talking about
I called the temporary top at $6, I called it again at $15, I predicted in advance the bounce at $7 and the double-top at $15. My pricing calls on ETH have been extraordinary. Do we need to go quote posts to prove it to you? (please don't waste my time)I have not disagreed that it is possible to create an investment pump.
But the music only continues for as long as you can delude enough new fools. Eventually you've got to actually produce real adoption and value. And I can't see anything from Ethereum, Slock.it, Etherplan or anything I've seen from that crowd that will have any real adoption.
More power to them and you and go for it. See how high you can pump this hot air balloon.
There is no shortage of money seeking investments. There is a shortage of high quality investments with huge upside. The DAO's problem is they won't be able to find high quality (risk vs. reward) worthy investments for the $168 million. Perhaps they will morph it into a Ponzi scheme and buy DAO units with their ETH. Who knows maybe we can see $100 ETH before it runs out of greater fool gas.
P.S. I originally underestimated either how ignorant or insouciant CC investors are. They either really believe in nonsense, and/or they really only care about trying to form as much pump excitement as possible regardless of any realities about actual user value created. It also appears to be a difference of perspective on what constitutes value with many here I guess thinking that enabling more investment vehicles of any form is an advance of value. I haven't yet determined the mix between naivete, insouciance, and different valid perspectives. I am still trying to determine if I missed some key factor about value being created. And I am not trying to tell them to change. I am trying to understand this altcoin investing market and where it will lead.
Lots of hate on this thread
I am not hating these guys. More power to them to have created so much investor interest in altcoins.
I am just sharing my analysis of the possible outcome. I am bit perturbed when people idolize this stuff so much. But I am learning to realize it is necessary. I am okay with every person having their own free will.