3 ms·

You shouldn't buy into the hype, especially from that hyperbolic story with silly blurbs like "The DAO is a paradigm shift in the very idea of economic organiza

by steego 10y ago

You shouldn't buy into the hype, especially from that hyperbolic story with silly blurbs like "The DAO is a paradigm shift in the very idea of economic organization." However, I don't think we should be flippantly dismissing the idea with phrases like "magic internet money", because if it proves itself to be minimally viable, it would really speak to a young demographic of investors who don't trust financial institutions or their products. Granted, this sort of tool is probably very ill suited for running a large corporation, but it might be ideal for Kickstarter-like organizations who want to fund a series of ideas or companies for equity. Some tasks are better suited for experienced professionals, while other tasks are better suited toward the wisdom of the crowds. (Tasks that great benefit from semi-informed polling) My best guess is this might become a useful tool for a niche investment market.

Bjorkbat 10y ago
Yeah, maybe I was too harsh with the magic internet money thing. I still have fresh memories of when Bitcoin went past the $1000 mark before cooling down again. Just strikes me that the people genuinely wanting to use Bitcoin as an actual form of value exchange are overshadowed by people treating it as "the new gold" The notion of having a very democratically run autonomous corporation seems a bit too far, but I'd be pretty excited to see someone using cryptocurrency to invest and buy shares in a company in a more accessible fashion than what we have now. In other words, I think cryptocurrency could potentially provide a better alternative than the way the current stock market works, but I don't know if this is necessarily a better alternative. I'm still not sure if even polling shareholders for product ideas works, unless product proposals are done effectively enough to where shareholders have a very clear vision on what the company is going to do, versus someone saying "So, we have this idea for an IoT product. There's no physical prototype you can hold yet, but here's how we think it'll work".

by steego 10y ago

Bjorkbat 10y ago

Yeah, maybe I was too harsh with the magic internet money thing. I still have fresh memories of when Bitcoin went past the $1000 mark before cooling down again. Just strikes me that the people genuinely wanting to use Bitcoin as an actual form of value exchange are overshadowed by people treating it as "the new gold" The notion of having a very democratically run autonomous corporation seems a bit too far, but I'd be pretty excited to see someone using cryptocurrency to invest and buy shares in a company in a more accessible fashion than what we have now. In other words, I think cryptocurrency could potentially provide a better alternative than the way the current stock market works, but I don't know if this is necessarily a better alternative. I'm still not sure if even polling shareholders for product ideas works, unless product proposals are done effectively enough to where shareholders have a very clear vision on what the company is going to do, versus someone saying "So, we have this idea for an IoT product. There's no physical prototype you can hold yet, but here's how we think it'll work".