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Note; dude has $123M in aave wrapped ethereum that he almost granted a scammer access to. Scammers ripping off scammers. Why would you waste time with open so

Note; dude has $123M in aave wrapped ethereum that he almost granted a scammer access to. Scammers ripping off scammers. Why would you waste time with open source aircrafts. Aircrafts are a regulated thing. Nobody wants to fly in your science project. Put some of that 123 million into starting an actual company. DAOs are bullshit.

negamax 5y ago
That's a horrible take on a legit person and project.
- hn_throwaway_99 5y ago
  Did you take a look at arrowair.com? Everything about that screams "art project". None of it makes sense. There are extreme engineering, economic, and legal challenges to doing have of what they are proposing, so the first thing they are investing in are their crypto projects? Because crypto crypto future future? I don't necessarily think the author is a scammer, but the whole project is the equivalent of "I'm going to launch a rocket to the moon" and then the first thing you do is open a nice website and launch a new token.
- randomhodler84 5y ago
  You would honestly ride in his ‘open source’ VToL? and use his air taxi service? I don’t think this is legit at all.
- Nextgrid 5y ago
  The aircraft and/or taxi service might be legit but all the crypto around it is useless complexity at best or a complete scam at worst. If you legitimately wanted to develop an aircraft taxi service, you do not need to involve crypto in any way. Even if you wanted to accept it for payments it's an auxiliary component that merely accounts for it and converts to fiat at some point. The DAO or whatever crypto bullshit is intertwined with it is absolutely a scam.
  - randomhodler84 5y ago
    Yeah. I agree with you completely. I am not a cryptocurrency skeptic, but my level of trust for a “DAO driven aircraft / taxi service” is exceedingly low.
- floodyberry- 5y ago
  "legit persons" are always materializing out of thin air with $100m+ and a "legit project" that is just a content-free web page. I will definitely be surprised when "thomasg.eth" uses this publicity to generate interest in his "legit project" and then rugpulls
PKop 5y ago
He didn't grant them access on his main wallet which holds the amount you describe, he granted them access on a different wallet that didn't hold those assets. Thus "nearly" in the title.
NicoJuicy 5y ago
I'm a sceptic of crypto usage. But DAO's do look attractive to me fyi. I wish I could do something similar in regular "fintech" ( and with c#)
- randomhodler84 5y ago
  Why are DAOs attractive to you? They are plutocratic institutions.
  - NicoJuicy 5y ago
    Programmatical organization would define the attractiveness for me.
    - randomhodler84 5y ago
      If you remove the plutocratic and cryptocurrency components, all you have software, and as you are a developer, you already have everything you need. Don’t fall for the DAO trap, it’s a pit for fools to throw their money into.
      - NicoJuicy 5y ago
        Well, it's also about "what's possible". Banks in my country don't have a reasonable API. There is CODA, but it's restricted to business accounts too ( and you have to pay for it). Additionally, accountants make a huge part of the workforce. So I don't think it will be possible in the short term to "replace them" by traditional means.
      - nfw2 5y ago
        I had never heard of DAOs before this and am struggling to wrap my head around it. It seems similar to any other venture with shareholders, except the shareholders need to reach consensus for any sort of financial transaction. Is that right? So the DAO is blocking this guy with $100M sitting around from just hiring an actual designer for his air taxi project?
hanniabu 5y ago
> Put some of that 123 million into starting an actual company Yeah, start an actual company so you can raise billions with no profits and then IPO and dump on retail traders

negamax 5y ago

That's a horrible take on a legit person and project.

hn_throwaway_99 5y ago
Did you take a look at arrowair.com? Everything about that screams "art project". None of it makes sense. There are extreme engineering, economic, and legal challenges to doing have of what they are proposing, so the first thing they are investing in are their crypto projects? Because crypto crypto future future? I don't necessarily think the author is a scammer, but the whole project is the equivalent of "I'm going to launch a rocket to the moon" and then the first thing you do is open a nice website and launch a new token.
randomhodler84 5y ago
You would honestly ride in his ‘open source’ VToL? and use his air taxi service? I don’t think this is legit at all.
Nextgrid 5y ago
The aircraft and/or taxi service might be legit but all the crypto around it is useless complexity at best or a complete scam at worst. If you legitimately wanted to develop an aircraft taxi service, you do not need to involve crypto in any way. Even if you wanted to accept it for payments it's an auxiliary component that merely accounts for it and converts to fiat at some point. The DAO or whatever crypto bullshit is intertwined with it is absolutely a scam.
- randomhodler84 5y ago
  Yeah. I agree with you completely. I am not a cryptocurrency skeptic, but my level of trust for a “DAO driven aircraft / taxi service” is exceedingly low.
floodyberry- 5y ago
"legit persons" are always materializing out of thin air with $100m+ and a "legit project" that is just a content-free web page. I will definitely be surprised when "thomasg.eth" uses this publicity to generate interest in his "legit project" and then rugpulls

PKop 5y ago

He didn't grant them access on his main wallet which holds the amount you describe, he granted them access on a different wallet that didn't hold those assets. Thus "nearly" in the title.

NicoJuicy 5y ago

I'm a sceptic of crypto usage. But DAO's do look attractive to me fyi. I wish I could do something similar in regular "fintech" ( and with c#)

randomhodler84 5y ago
Why are DAOs attractive to you? They are plutocratic institutions.
- NicoJuicy 5y ago
  Programmatical organization would define the attractiveness for me.
  - randomhodler84 5y ago
    If you remove the plutocratic and cryptocurrency components, all you have software, and as you are a developer, you already have everything you need. Don’t fall for the DAO trap, it’s a pit for fools to throw their money into.
    - NicoJuicy 5y ago
      Well, it's also about "what's possible". Banks in my country don't have a reasonable API. There is CODA, but it's restricted to business accounts too ( and you have to pay for it). Additionally, accountants make a huge part of the workforce. So I don't think it will be possible in the short term to "replace them" by traditional means.
    - nfw2 5y ago
      I had never heard of DAOs before this and am struggling to wrap my head around it. It seems similar to any other venture with shareholders, except the shareholders need to reach consensus for any sort of financial transaction. Is that right? So the DAO is blocking this guy with $100M sitting around from just hiring an actual designer for his air taxi project?

hanniabu 5y ago

> Put some of that 123 million into starting an actual company Yeah, start an actual company so you can raise billions with no profits and then IPO and dump on retail traders