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Maybe I'm missing something, but I'm honestly surprised how people could trust huge amounts of money to projects like Ethereum and The DAO. The only explanatio
by kovrik 10y ago
Maybe I'm missing something, but I'm honestly surprised how people could trust huge amounts of money to projects like Ethereum and The DAO.
The only explanation I could imagine is like:
"We could have become rich if we knew that Bitcoin would be a success..now it is too late. But wait, there is a new thing called Ethereum, maybe that is our chance! Let's invest our money!".
- api 10y agoI believe your speculation is correct. The DAO was a great idea but it should have been done at a significantly smaller scale. Raise say $1M worth of tokens and invest in three things and then sunset the project and evaluate the result. Call it an experiment. This was like going from bottle rocket to Saturn V in one step.