4 ms·

Although the "proposals" themselves are Ethereum "contracts" (programs), the thing that the money goes towards doesn't have to be a program. The most popular p

• numlocked 10y ago
  And Slock.it is the creator of The DAO...
  • machinshin_ 10y ago
    Sounds like money laundering to me
    • pigeons 10y ago
      nope, but I wouldn't argue if you called it an unregistered security.
    • dmix 10y ago
      This sounds like a bad way to launder money, the logistics and scale issues make it impractical. Besides I doubt transferring $→ETH→DAO→ETH→$ is adding any extra obfuscation compared to $→ETH→$.
    • drcode 10y ago
      For what it's worth, I follow this space closely and have seen several recent things that look like money laundering to me that I won't name- This project is not one of them (though I have other concerns with this project)
    • SmellyGeekBoy 10y ago
      More like a pyramid scheme?
  • btown 10y ago
    It's a long process to check all the boxes for what makes a good proposal, so the fact that Slock.it had such a head start on any other potential proposers is more than a bit suspect. Perhaps there should be a proposal to lock all funds for, say, 45 days so there can be enough of a competitive environment for proposals?
    • fudged71 10y ago
      The bigger issue is that the DAO has raised >$120M, and Slock.it hasn't said how mich funding they need. Many people are fully expecting the ask to be much larger than they would have originally asked for. It's a terrible decision on their part and raises a red flag for me