Let’s make “The DAO”, but for Bitcoin!
First, the context: I was a lead developer of the colored coins project in 2012-2013, that is before it split into several different project/implementations.
in January 2014 I came up with an idea of CDAC, a colored coins-based decentralized autonomous corporation which has investing as a goal. I only shared it with few people in the colored coin community. You can find it here. It was originally written on January 26, 2014.
Then I forgot about it, until one of people I sent it to wrote me that Ethereum's The DAO is a lot like my CDAC concept.
For those who don't know, The DAO is an Ethereum-based decentralized autonomous organization which raised $146M worth of ether and is supposed to invest into various projects which are supposed to make its tokens more valuable.
Frankly, I'm kinda surprised by this, as I believe it makes more sense to raise funds for specific funds than to make one huge-ass fund. But apparently Ethereum people think otherwise…
So the question is: Does it makes sense to implement something similar for Bitcoin?
I'm quite certain it's technically possible (I can elaborate in a separate post), but I don't know if there is any demand for this kind of thing.
I think crowdfunding/fundraising in general makes a lot of sense. Mike Hearn's Lighthouse project is very underwhelming, as it has no notion of rewards. You just give money and that's it. Also I think crowdfunding will benefit a lot from 'slow release', as giving people a bulk sum is a bad idea (see: NEO&BEE).
Please give me your opinions!
Submitted May 19, 2016 at 02:33AM by killerstorm
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