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by chamza
3693 days ago
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I agree that the website is terrible. Over the past few weeks I've dug deep into it and think it is a really awesome experiment, although a very risky 'investment'. I will attempt to explain it below: The DAO is a group of people putting together their money to manage it and make more. This is done through proposals and members voting on passing them. Based on the proposals that are accepted, the DAO can be anything really: a hedge fund, VC fund, lottery-system, gambling pot, etc. What it becomes is still undefined and we can only see with time based on proposals and how the members vote. That alone is really interesting and exciting to me: will members actually make intelligent decisions or will it crash and burn? The DAO also shows the power of the underlying crypto, Ethereum, on which this was built. |
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I'm a part of a different project on Ethereum (Augur) and we went out of our way to simplify everything so that anyone, regardless of sophistication can understand. We had the first big crowdsale on the platform and did quite well in a very bear market, I credit much of that to simplifying the idea as much as possible.
This is a huge problem with Ethereum projects as there are so many cool ideas but they are so developer-centric that they lose anyone with unnecessary big words and weird language.
With all that said, the DAO seems to be a very cool project and has found a huge level of success with this major flaw, which says something. I just wonder what they could be doing if the message was something that could be figured out by a newbie in under 3 minutes.