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  #1  
Old 12-29-2021, 04:29 PM
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todeen todeen is offline
Tim Odeen
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Quote:
Originally Posted by maniac_73 View Post
Good questions!

With a DAO, you "buy in" with the token thats offered which may be in the form of a coin or even an NFT. This gives you voting power 1 token = 1 vote.



There is no "owner" as everyone who owns tokens are considered owners and every proposal is voted on with the results recorded on the smart contract on the blockchain which are transparent and unalterable. The group decides by vote what to buy and when to sell and how the profits would be paid out to coin holders. The group also decides how to procure and where to store the item through proposals and votes. The idea is that proposals are put forward and they are voted on by all the token holders.



To put it simply, this is the exact model Collectible(the fractional ownership platform) is currently using but instead of the owners of Collectible running the show, this is the cooperative effort of all the participants deciding what to do using the transparency of the blockchain.



Some more info on hows DAO's work

https://consensys.net/blog/blockchai...-do-they-work/
The article explanation sounds like a mutual fund. Contracts lay out the rules, I join by giving my money for a share, and I receive voting rights to vote for a manager. There are incentives in a mutual fund to be a part of it. Obviously there are slight differences, but with the contract there are legal ramifications. What lawyer among Net54 members would set up the contract?

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  #2  
Old 12-29-2021, 04:39 PM
doug.goodman doug.goodman is offline
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I wish all of you who "invest" a happy new year.

Doug
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  #3  
Old 12-29-2021, 05:06 PM
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The US Constitution is for sale??
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  #4  
Old 12-29-2021, 05:19 PM
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Leon Leon is offline
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Originally Posted by Peter_Spaeth View Post
The US Constitution is for sale??
For only 43M

https://www.cnn.com/style/article/us...ale/index.html

,
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  #5  
Old 12-29-2021, 05:26 PM
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D. Bergin D. Bergin is offline
Dave
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Originally Posted by Leon View Post

A copy of......this ain't a Nic Cage movie.
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  #6  
Old 12-29-2021, 05:26 PM
BobC BobC is offline
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Quote:
Originally Posted by Peter_Spaeth View Post
The US Constitution is for sale??
Aren't pretty much all politicians for sale? So why not the Constitution?
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  #7  
Old 12-29-2021, 05:34 PM
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jingram058 jingram058 is offline
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Quote:
Originally Posted by BobC View Post
Aren't pretty much all politicians for sale? So why not the Constitution?
Because the writers envisioned something different for the future, and it isn't the pile of dog turds in government today, that's why not the Constitution.
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  #8  
Old 12-29-2021, 05:40 PM
BobC BobC is offline
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Originally Posted by jingram058 View Post
Because the writers envisioned something different for the future, and it isn't the pile of dog turds in government today, that's why not the Constitution.
I was joking, at least about my second question.....did you not see the smiley face?
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  #9  
Old 12-29-2021, 05:49 PM
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I can’t think of much else I’d want to do less than something like this.
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