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The DAO represents about 13% of all Ethereum in existence. Considering over 75% of Ethereum was part of a premine crowd sale for a price between 2,000 - 1,337 B
by hackcasual 10y ago
The DAO represents about 13% of all Ethereum in existence. Considering over 75% of Ethereum was part of a premine crowd sale for a price between 2,000 - 1,337 BTC per ETH it's a reasonable assumption that the DAO was mostly founded with severely discounted ETH, and doesn't really represent +100M USD investment.
- cjbprime 10y agoAnyone could have sold their ETH at around USD $8 per 1 ETH just prior to joining the Dao. I don't think "it's not real money" applies.
- JoachimSchipper 10y agoAnyone could have sold 1 ETH for 8 USD, maybe, but that is very different from selling all ETH in a large account.
- deleted 10y ago[deleted]
- hackcasual 10y agoDo you think they could have raised ~150 million USD by selling 12% of the existing ETH? I suspect $150 million couldn't be raised by selling all the ETH. It's disingenuous to take the current ETH-USD conversion rate based on a relatively low trading volume and imply that's what the DAO is worth, especially when so much ETH was bought so cheaply.