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>This was a scam waiting to happen even if the contract did function as intended by the authors. I have said this from the beginning. From a purely logical po
by will_brown 10y ago
>This was a scam waiting to happen even if the contract did function as intended by the authors.
I have said this from the beginning. From a purely logical point as a potential investor, you should ask yourself, why would an autonomous investment platform (borrowing your phrasing) require all the funds up front?
In other words, look at kickstarter/gofund me, how skeptical would everyone have been if they asked for investors money before there was even an investment opportunity? Even with the fork, I think they should have returned everyone's money to them, and allow them to buy membership/voting right to the DAO for a nominal fee that would allow them to invest in future investment opportunities.
- vectorpush 10y agoIndeed. It seems to me that the only concern was building hype for the DAO (in order to solicit further investments) and ethereum in general. I kept seeing claims about how smart contracts would enable autonomous corporations to pay employees and run factories and other clearly impossible things, everyone was so excited about the possibilities that nobody sat down to critically examine what is actually possible.