Crypto Investors Take On Wyoming Real Estate | WSJ
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- Опубліковано 15 чер 2024
- A group of about 6,000 crypto investors known as CityDAO bought 40 acres of land in Wyoming. WSJ’s Paul Vigna explains how this decentralized autonomous organization, or DAO, came to own this land. Photo illustration: Josephine Chu
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Reality being stranger than fiction.
I literally just left the Clark area 2 weeks ago, moved to Minneapolis. Good luck establishing a city let alone a small town in that part of Wyoming! Unpredictable weather and 120 mph wind gust, Oh did I also mention hardcore conservatives that would like to see that area just they way it is. Have fun trying to get support from the local around there haha. Kanye West couldn’t even make it out there, he had to sell his ranch and ran back to California. I’d be surprised if they got even the foundations/ permits allocated for them to build a town there most of that area is BLM
It's not about the land. It's about speculating on the land and rug pulling the people who buy in.
No one who buys into this actually owns the land.
Dont be such a debby downer. If people want to live there in CityDAO then so be it. If you dont like it dont move there
The DAO already owns the land
@@skeleskele still going to need approval from the local governments there plus it’s a very harsh and hostile environment around the Clark area which I don’t think they realize yet… a lot of people buy land in Wyoming and second guess where they’re putting their money bc it’s such an unforgiving region that doesn’t accept a whole lot. I wouldn’t be surprised if they didnt do anything with the land
@@ryanhimmelblau534 but it should be about the land, how are you going to feel if you have these tech developers come to an area that’s predominantly white private family owned farms and ranches become the next hotspot for a crypto currency commune that does whatever they want without actually owning the land they’re developing…? Some of those people who live out there don’t even have a computer or a modern smart phone. Do you really expect them to get what’s going on and be accepting and open towards what they would think of is a cult coming onto their land without knowing the way of land; how the culture is already set in stone. I don’t think they’re thinking it through all the way, probably just saw the cheapest plot and was like it’s ours now. It doesn’t work like that
@@nensig8243 you seem to already be highly opinionated on something that's basically still an idea. These are all the plans, their goals, a roadmap whatever you want to call it. You dont need to live there, they can do as they please its not your money involved right? I highly doubt the state would allow local government to crush what they call the states future industry, but sure maybe they would do something. But why? They arent doing a single thing wrong, that would just be government overreach
Yeah, I'm sure the locals are thrilled about it. 🤦♂️
I don't see locals in that bare land
that view at the start is so gorgeous
A hacked DAO was the reason why Ethereum's blockchain split into two:
Ethereum and Ethereum classic. One modified its blockchain to reverse the hacking (giving money back to those affected by the hack, therefore violating the core purpose of a blockchain of it being unchangeable) and the other kept the same blockchain. The one that didn't change the blockchain was Ethereum classic
You wrote the best summary of why and how Ethereum split into two. However, even though ETH Classic remained faithful to the original crypto vision , the market rewarded the 'new' ETH.
Yeah this sounds great! Name a company without a single CEO! Or a country without a single leader 🤦🏻♂️
There’s tonnes of co-owned companies without CEO’s. My girlfriend works for one, she doesn’t have a boss or CEO. No one to fire her it would take a majority voting her out.
Did they talk to the natives of the land?
@hi
Yeh they all got .1 eth each
Then they were hacked.
Natives as in Native Americans or settlers?
@@4nt4r4y Native Americans
So, it is similar to buying land in the metaverse since Wyoming isn't real, right?
hahaha
always comes back to Own the Land.
This is amazing
If you currently want to buy land it is cumbersome, you have to go to loopnet, see the land etc. If you want to be in a DAO you need to be a citizen, buy an NFT, vote collectively, I dunno that sounds more complicated. Id rather go out on my own.
very interesting idea
You pay for the right to use land, so who ultimately owns it. Its not that easy, the local government will decide what you build or what you don't build. The land looks likes it isn't much use for anything. Maybe if you could buy decent land or buildings
Does buying land from CityDAO constitute as a sale of a security?
Probably will still owned by the LLC you just kind of renting.
at the very least it is real estate which I am pretty sure requires a license (?)
Thank you for the new I will be login in to blockchain to make changes.
this will work out as well as Chaz
Just sounds like a round about way to get to say a real estate company to me...
One with no leader. One with no direction.
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Citizen NFT for 7ETH, right to have a parcel 📦 to buy land…interesante
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What are they going to do with a couple hundred square feet on the side of a half-assed mountain? I DARE them to try to build something on that land.
Anyone else feel like this isn't going to end well for these people or is it just me ?
Nice video.
Whether or not DAOs will become a viable business entity is a guess, but CityDAO's choice of Wyoming land parcel causes me to doubt the founders' intelligence and integrity. Perhaps CityDAO will buy and offer oceanfront land in Utah next.
When I think of Wyoming, I think of the displaced Native Americans whose land was stolen. Crypto and DAOs have the opportunity to decentralized power for the people. I hope this DAO considers how to share power for the local disenfranchised people.
L opinion
Nightmare giant HOA
lool so they own it but you purchase the right to lease it. I love the idea of new innovation I just find it hard to believe that the people organising the city would allow for more than 50% of their llc to leave their ownership.
The DAO is ownerless. All NFT holders (lifetime leasers) create and vote on proposals. Its completely transparent. Its not an LLC its just labeled that under wyoming law. It does not operate anything close to an LLC
@@skeleskele the more you own within the dao the more your vote is worth. How is that different from any other organisation.
@@thedjdominator because your influence will never be over something more than 1-5% realistically. If you look at the biggest DAOs atm it proves how efficient the decision making is being so decentralized
You still have to pay taxes right
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I just bought 22 acres of land in Arizona with Cardano. Its worth $84 million. 🤑
crypto investors maybe buying land that only exists on screens but not in real world
👍🏿
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Software is eating the world
LOL City doesnt go well with country folks
the comment section is full of scam bots
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I don't mind people doing this sort of stuff out in the back country so long as they aren't allowed into cities. Property market does not need a mechanism for the super rich to bid up valuations. Things are tough enough now.
New crypto scam just dropped
Tho it comes full circle, ownership of land
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first
Hi friends
Owning a piece of land collectively Sounds a bit like communism to me 😂
In a way, I guess REITs can be considered communist
Sounds like a nice Plan, but it‘s not possible on the Ethereum Chain… Blockchains like Flow have faster Transactions and are better for the Environment
haha not gonna work, real investors invest real real estate and stocks
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