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The twitter thread this post is to retweets the DAO in question claiming responsibility, specifically this twitter account: https://twitter.com/TheSpiceDAO http

The twitter thread this post is to retweets the DAO in question claiming responsibility, specifically this twitter account: https://twitter.com/TheSpiceDAO https://twitter.com/TheSpiceDAO Googling finds this website: https://dune.foundation/ https://dune.foundation/, and some info about the etherium they raised here https://juicebox.money/#/p/spicedao https://juicebox.money/#/p/spicedao Maybe this is some sorta elaborate hoax, but it looks like it's real eth, so unless juicebox is also in on it, it seems like a hard hoax to pull.

jaclaz 5y ago
Yep, but all this is "after the fact". In real time you are either on the auction in person or at the telephone, and there is someone else on a telephone connection. How do you know who that someone else is? All you know is the auction firm personnel on that phone line raises against your bid and conversely all the someone else knows is that someone (you in this hypothetical case) is offering and counter-raising. To go from 25,000 to 2,500,000 (100x) two bidders are needed, and the question remains, given that one of the two is some crazy[1] guy backed by a DAO, who is the other one (almost as crazy as the first one). [1] as seen by a "normie"
- TheDong 5y ago
  The DAO, by how its structured, had to raise the money beforehand, and it did so using etherium in a public manner. You could go to this page the day of the auction, before it started: https://juicebox.money/#/p/spicedao https://juicebox.money/#/p/spicedao From that page, you could tell how much money they had raised in etherium, and you could guess their cap from that. I also give it better than even odds that the person bidding on behalf of the DAO was in discord, bragging about how much money they had to bid, right up until they won. If you were interested in this auction selling for a large amount, would you not google a bit and find the spice DAO? Would you, perhaps, join their discord server, get on the auction call, and bid it up a bit? This seems like something that quite reasonably could happen. That's what I was suggesting above. One bidder is the DAO guy, the other bidder is someone who knows how much the DAO will bid, since it's public, and so raises it up to near that price for some ulterior motive, whether it's because they get a profit off of a high sell, or because they want the idiots who put money into the DAO to lose it. I have no doubt there are many people in both camps who were aware of the DAO before the auction started.
  - jaclaz 5y ago
    I see, but it is actually risky business, what if the "crazy" guy stops raising offers (for whatever reasons, let's say because he is struck by a lightning) and you win the auction with a bid of - say - 2,400,000 dollars? I don't know how exactly offerers are "checked" or "validated" by Christie's in these kind of auctions, but there should be some process of some kind - particularly for telephone bidders - of checking identity and financial capabilities. Or anyone can offer crazy amounts of money and then retire the offer without consequences?

jaclaz 5y ago

Yep, but all this is "after the fact". In real time you are either on the auction in person or at the telephone, and there is someone else on a telephone connection. How do you know who that someone else is? All you know is the auction firm personnel on that phone line raises against your bid and conversely all the someone else knows is that someone (you in this hypothetical case) is offering and counter-raising. To go from 25,000 to 2,500,000 (100x) two bidders are needed, and the question remains, given that one of the two is some crazy[1] guy backed by a DAO, who is the other one (almost as crazy as the first one). [1] as seen by a "normie"

TheDong 5y ago
The DAO, by how its structured, had to raise the money beforehand, and it did so using etherium in a public manner. You could go to this page the day of the auction, before it started: https://juicebox.money/#/p/spicedao https://juicebox.money/#/p/spicedao From that page, you could tell how much money they had raised in etherium, and you could guess their cap from that. I also give it better than even odds that the person bidding on behalf of the DAO was in discord, bragging about how much money they had to bid, right up until they won. If you were interested in this auction selling for a large amount, would you not google a bit and find the spice DAO? Would you, perhaps, join their discord server, get on the auction call, and bid it up a bit? This seems like something that quite reasonably could happen. That's what I was suggesting above. One bidder is the DAO guy, the other bidder is someone who knows how much the DAO will bid, since it's public, and so raises it up to near that price for some ulterior motive, whether it's because they get a profit off of a high sell, or because they want the idiots who put money into the DAO to lose it. I have no doubt there are many people in both camps who were aware of the DAO before the auction started.
- jaclaz 5y ago
  I see, but it is actually risky business, what if the "crazy" guy stops raising offers (for whatever reasons, let's say because he is struck by a lightning) and you win the auction with a bid of - say - 2,400,000 dollars? I don't know how exactly offerers are "checked" or "validated" by Christie's in these kind of auctions, but there should be some process of some kind - particularly for telephone bidders - of checking identity and financial capabilities. Or anyone can offer crazy amounts of money and then retire the offer without consequences?