DAO's Don't Make Sensethebitcoinmanual.com/articles/daos-dont-make-sense/
218 sats \ 4 comments \ @TheBTCManual 4 Nov 2022 bitcoin
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43 sats \ 1 reply \ @om 4 Nov 2022
Overall: just because Bitcoin doesn't support it doesn't mean it's bad. Stop FUD.
A DAO is pitched as a way to flatten familiar hierarchical structures seen within large corporations and give way to community collaboration under this framework. [...] DAOs are trying to fight against a natural organisational structure that emerges out of efficiently and in doing so kills any hope of it competing with the more efficient competition.
The critique is correct but DAOs are already working around it. Rari, one of the most successful DAOs, has abandoned its flat structure last year. Metropolis works on bringing hierarchical DAOs to the masses.
Secondly, and more importantly, the nature of DAOs means that their stakeholders are vulnerable to off-chain coercion.
Same as Bitcoin hodlers, really. Don't KYC yourself.
Still, DAOs will also face legal trouble if regulators decide that the tokens they issue are securities,
Eric Voorhees closed his ShapeShift company and converted it into DAO to avoid all regulators altogether. Going well so far.
As a DAO, you’re actively encouraging participants to come and attack your treasury, and in the business world, that is not a smart play.
Same for every LN node.
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0 sats \ 0 replies \ @TheBTCManual OP 4 Nov 2022
I am not saying DAO's a bad, no idea is bad, I am saying their are clear holes in the idea and the implementation, it's not FUD to point that out.
I just don't think you NEED a blockchain or a token to be a DAO, you can have a treasury, you can have distributed labour and freelancing without it being on-chain, in theory any opensource project can be one
As for your examples, I don't see how they really make a case for those products being vastly improved versus other options and how they would outcompete a centralised offering
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2 sats \ 1 reply \ @satup 4 Nov 2022
"A solution looking for problems", +2
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0 sats \ 0 replies \ @TheBTCManual OP 4 Nov 2022
Lol well to be fair the problem is how do I start a tech company without all the investor bs and raise a bunch of capital without the need to create a project but still profit, and they found a solution for it
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