DAO in the dust

I, for one, welcome our new species of robber baron overlords (non-ironically):

I have carefully examined the code of The DAO and decided to participate after finding the feature where splitting is rewarded with additional ether. I have made use of this feature and have rightfully claimed 3,641,694 ether, and would like to thank the DAO for this reward. It is my understanding that the DAO code contains this feature to promote decentralization and encourage the creation of “child DAOs”.

I am disappointed by those who are characterizing the use of this intentional feature as “theft”. I am making use of this explicitly coded feature as per the smart contract terms and my law firm has advised me that my action is fully compliant with United States criminal and tort law. For reference please review the terms of the DAO …

(Learning is hard.)

Bloomberg commentary.

The reddit FAQ.

9 thoughts on “DAO in the dust

    • Strongly disagree. Markets are smarter than any specific market participant. AlphaGo is smarter (at Go) than any human Go player. Any sufficiently complex machine with self-catalyzing intelligence will be smarter than its builders.

      • yes i would imagine but you seem to be confusing computational power with smarts and of course reifying the term “market”, no such machines/things out there, where would one draw the boundaries, what is or isn’t part of the unit/system, what are the connections, etc?

      • well there are limits to mere calculative powers (ask an engineer or mathematician) and while they may serve well in relatively limited/bounded conditions not so much elsewhere , as for “markets” how does one decide what are the components, what are the edges/limits, what is the mode of connection let alone coordination, etc? as i’m sure you know reification is one of the more common bewitchments of grammar that folks fall into.

        • ah sorry for the double comment my new wifi isn’t syncing up with my old home computer very well and i didn’t know the 1st went thru

          • well not often day to day but more to the point what of the questions I posed about what (if anything) makes up a market, how does one map or measure it, etc?

          • Who’s the ‘one’ here? The turn to catallactic systems is a way to bypass pre-existing structures of epistemological judgment, so it would be strange to seek validation in terms of them.

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