Could Blackwater maybe do something useful for once? No of course not - they’re all Putin fans anyway I’m sure.
How would a DAO make decisions on who to hire?
Just a vote for token holders I guess?
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I think there’s a bitcoin donation drive going on somewhere.
DAOs arent legal entities so for the moment its hard to reliably convert the DAOs will into real-world action. Something like that would need a trusted person to take the funds and hire the mercenaries, so it would be a glorified GoFundMe, but of course with the advantage of being a lot harder to shut down. If someone collected BTC donations, hired mercenaries and paid them in BTC, there wouldn’t be a lot any authority could easily do about that.
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Makes you think
Can someone explain what’s wrong with this plan?
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UkraineDAO already owns the token and they are hodling.
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This is only partially true. There are real DAOs that operate on their own, but most DAOs are fake DAOs that work as you describe.
A true DAO would can be set up so that it functions automatically. You set up the smart contracts so that if the DAO voters vote for something the DAO automatically does it. So if you had a true DAO and there was a proposal to send funds to mercenary group X’s wallet, the DAO would automatically do it.
This is of course has it’s own issues (if you control half the votes you could take all the money or if it’s hacked - or contracts just have bugs - there are no protections). For these reasons lots of DAOs are not true DAOs and have central actors (sometimes it’s full control and votes are just suggestions, other times its someone - or a group of people using a multi-sig wallet - that have veto or other limited powers).
So you’re saying that most DAO’s realize that there needs to be some person in which power is entrusted to oversee the day to day operations of the DAO.
And maybe there needs to be another group of people that has oversight of that person, that doesn’t have any say in the day to day operations of the DAO but does generally oversee this “Entrusted Power Guy” and can pick a new “Entrusted Power Guy” if they don’t like what the current one is doing…
What a novel and unique concept that has never ever been done in human history before!
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Circa, the downtown casino where fantasy football dorks pee in a giant pool together while watching red zone on an 80 ft tv.
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A federal grand jury in San Diego returned an indictment today charging the founder of BitConnect with orchestrating a global Ponzi scheme. BitConnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion.
According to court documents, Satish Kumbhani, 36, of Hemal, India, the founder of BitConnect, misled investors about BitConnect’s “Lending Program.” Under this program, Kumbhani and his co-conspirators touted BitConnect’s purported proprietary technology, known as the “BitConnect Trading Bot” and “Volatility Software,” as being able to generate substantial profits and guaranteed returns by using investors’ money to trade on the volatility of cryptocurrency exchange markets. As alleged in the indictment, however, BitConnect operated as a Ponzi scheme by paying earlier BitConnect investors with money from later investors. In total, Kumbhani and his co-conspirators obtained approximately $2.4 billion from investors.
I bought 576 pixels for an average price of 305$ per pixel. I got a steal!
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WHO SAYS NO?