[miohtama]

Peer-to-peer cryptocurrencies do not need intermediates. For governance, one can use smart contracts.

This is why things like ConstituionDAO can happen.

https://en.wikipedia.org/wiki/ConstitutionDAO

If it’s good or not is another topic, but it is definitely possible to skip banks and other middlemen.

[kayodelycaon]

I'm not a lawyer, but this reads like offering shares in a private company. No matter how you knock this up, a corporation or individual ends up with ownership and control in the real world. You need a real-world way to enforce whatever they promise, which is either through civil law via contract or criminal law via fraud.

All crypto is is a signature on a document. These documents are not guaranteed to hold up in court, especially when there isn't good case law around whatever you invented to get around existing laws.

[sremani]

This Crypto bullshit has to stop -- ConstitutionDAO did not give ownership to its stake holders. It was a glorified IoU, a private fiat version of stock/equity into the so called Constitution copy. All the power was held by an LLC and two dudes.

[DonHopkins]

Funny how just hours ago, rosndo was just falsely claiming that "That low-effort shilling hardly exists on HN", and then there you go.

https://news.ycombinator.com/item?id=30194128

[rosndo]

That commenter seems a bit confused, yeah. But what is it shilling Don? Cryptocurrencies in general? I doubt they’re shilling the failed ConstitutionDAO?

“shills” to me are more like commenters such as rasengan, who is actively advertising his cryptocurrency-as-DNS nonsense whenever given the opportunity.