you're essentially asking, why do we advance technologically? Maybe so we're not all still in the dark ages, and sacrificing people to Gods, or living as peasants under a King's rule. The answer is obviously because improving things, _I can't believe I must explain this,_ is good.
Exciting idea but a few problems I think: 1. Token creators usually own a much larger proportion, so they keep all the benefits without doing much of the work that goes into the progress and development of a DAO. This is worse than homesteading, where you at least have to spend time and effort to improve your land and prove your ownership. 2. Smart contracts are fixed and can usually create irreparable damages if done wrong (token theft, loss of ownership, etc) - and are usually much harder to debug since they are written in an esoteric programming language that is incomprehensible to more than 99.9% of the population on earth. Its a very undemocratic way to implement any set of rules. 3. Blockchains are good - but which blockchain? There are several out there and not all of them equally secure, fast and cheap for frequent transactions. I would like to read a detailed case-study though, just because I want to see if this is actually a viable alternative to current government and administrative models.
Esoteric? What are you talking about? Smart Contracts can be upgradable and of course you'd have to audit them thoroughly for something like this. They aren't hard to debug because most likely the language is Solidity or Rust (Anchor can make Solidity work for Rust based chains) which are extremely popular. Solidity being an offshoot of Javascript which is the most popular language right now. The security of most chains is ironclad. Solana is a good candidate because of their TPS, but this would likely require the development of a new blockchain for these specific purposes.
Valid points. Couldn't agree more with you, Akash. I'd say, its very premature and DAO's require some foundational framework and addressing some of your pointers before its adopted more. I see DAO's adoption will be easier in Software and payroll for starters before dreams of building cities with it.
Amazing talk.. Talking about DAO there is one project which caught my eye called as "Townhall" They are doing aazing job in DAO space, Townhall allows users to create Houses, submit proposals, and participate in governance activities without incurring any gas fees. This removes financial barriers and encourages wider participation in community decision-making processes. It would be great if you can add this project in your discussions :)
This idea sounds good, but the reality is, that it's far away from building a great city. The DAO contributors need to be informed, what a great city demands in terms of infrastructure. Then you have aesthetics, resilience, future-proof housing designs and so on. Representing it through a DAO will not work because anyone can vote, even those with no expertise at hand. You will run into the issue in the middle of the project, where friction is created among the group due to inconsistent agreements on goals. For such big projects with so many disciplines, a DAO is not ideal.
DAO's are a literal pay to win system. The people with the most cash will always be able to get whatever they want and no one will be able to do anything about it. A few DAO's have literally had all their money stolen because someone with cash simply voted themselves in charge and took all the money then ran and that's perfectly legal within the DAO system since "code is law" there.
@@suicune2001 But as you just wrote: it's the code that is the issue. You can fix the code to never allow one member to have more than 1% of the voting power. You can also add more money to the idea, but 1% voting power can never be crossed. I agree on the notion, that many DAOs still have flaws in their code and people abuse it. It needs more time and repetitions in creating DAOs to make them more resilient. It's with any technology that you'll start with something, that is more often failing than succeeding and after several iterations, you'll improve the success rate. Crypto in general is still in its infancy, and I'm curious what's left and created within the next 10 years.
@@Yuusou. Why fund beyond the voting limit if it yields no benefit? It's bit fair if someone can contribute less and get the same influence as those who contribute more. That's why these DAOs do not have limits on votes per token.
@@QarthCEO If you need money to fund the idea, then this is all that matters. Voting rights are not essential. Realizing the project is, if you are a true believer. Plus, the more people add their funds, the lower the relative voting power gets for everyone, but the 1% stays stable for as long as the funds support at least 1% of the project.
@@Yuusou. Funding the idea is not guaranteed if you lose proportionate influence the more money you contribute. Again, no NAO works in a manner you describe because it simply would not induce members to buy more tokens.
Pioneer work. DAO leading to land ownership is inspiring (however limited by current legal frameworks). However, the system you described is not 1 person = 1 vote. How does the governance model prevent people from possessing more DAO shares, and having more voting power? Ultimately, how do you tackle egoist interests to corrupt the governance? Why not implement non-exchangeable tokens to avoid price speculations?
they implemented quadratic voting, it's not perfect but a compromise to your point. whales should be compensated while still keeping project democratic
@@venkatchait007 if everything in the world is the same, no, now they actually have to spend their money to get their extra voice and it doesn't always work... this is where they have a system built exactly like they wish this system was, without spending billions to approximate it poorly.
I highly recommend you watch "Line Goes Up - The Problem With NFTs" by Folding Ideas to find out exactly why DAO's are horrible. In short, it's a literal pay to win system.
NFT is a beautiful technology. Art NFTs, I agree, aren't the best use case for it. But NFT tech is early. It will be absolutely key to security, transparency, and fairness in our highly digital futures. Did the video mention any of that?
Building and governing a city through a DAO sounds like a horrible, dystopian and anti-democratic idea. It basically means that money rules everything - even more than it already does.
Exactly, this is a bogus idea like crypto. Both introduce new problems without really solving any of the existing problems of the systems today. Typically preached by people who have little understanding of the impact or implication of the features they hype as revolutionary.
@@TheWhiskeyDouble I have to disagree with you there. I'm neither against DAOs nor crypto in general. I was just talking about this specific use of a DAO. Yes, some cryptos are scams, but others like Bitcoin and Ethereum certainly aren't. And they do have interesting and useful properties. Of course there are pros and cons, but I see both of them (and others) as a net positive.
@Phoenix Maybe. It would have to be something akin to what Vitalik Buterin coined "soulbound NFT". A non-transferable NFT without monetary value. But you would have to make sure that everybody gets to participate and to vote - from people who can't afford the necessary technology to 90 year olds who have never used the internet.
Interesting thought, but I don't think this could overtake the cities we already have in America. It feels a bit like a techno dream for people to get excited about, and invest lots of money and time into, but has very little real world value. It's taken hundreds of years for American cities to grow to the point they are now, and imho we need to go back in time to relearn the lessons that past generations learned, and get away from the 'woke' entitled soft attitude that most people have today. It takes serious hard work, sacrifice, grit, and dirt under your nails to build something as vast and complicated as a city. Just my 2cents anyway...
Do I understand it correctly that thanks to DAOs now regular people can put money into some ground breaking projects and if they are in fact successful big fish can arrive at already made business opportunity and just buy enough of tokens to overrule the rest of participants? Can I withdraw my money from DAO if I don't like the path that is taken by the majority of voters?
No worries, much more than 99% of these crypto project doesn't succeed and than the hopeful investor who didn't find a bigger fool to offload onto, can hold the empty bag. And if by chance this one does, likely founders have written the program so that they retain majority of power anyway.
@@RoseJetExhaust Because pulling off something which is essentially a libertarian's wet dream and combining it with tech-bro wankery to make it sound more modern has never resulted in anything but a pyramid scheme.
@@Schmidtelpunkt That does not mean it is impossible. The right people with the right intentions can make all the difference. But yeah, there are many actors in the space who are looking for nothing but quick money, etc.
@@RoseJetExhaust The right people with the right intentions would make wonderful benevolent dictators. There is a reason why we have seen systems fail and it wouldn't be a mistake to take a lesson from those failures. "Blockchain-governed" sounds like the attempt to pretend a technology would magically solve fundamental flaws known to mankind for thousands of years.
But you have zero idea what you're noping. Those are all beautiful things. Blockchain the antidote to corruption. Unless you like government oppression and banks controlling YOUR money, why nope? Blockchain is a tech not an actor. You're probably just equating all this to crypto currency scams. Which are SO easy to avoid, with just a bit of education, but some refuse to learn... Anyway, crypto and blockchain tech are two different things, crypto simply utilizes blockchain, and if you can give me one good reason why blockchain is anything other than a wonderful, beautiful technology based on transparency, security, equity and fairness, I'll bow down to you. Learn about it. Internet also has bad actors... millions. It facilitates child trafficking, murder, and just about every crime you can think of. So I suppose you wanna scrap the internet?
To understand better,,say for example i have an idea (to a project or application) that i want to launch but need investors or partners to make it possible,,how could i be able to do this throught this method being taught in the video,,,how could i get investors or partners and whats the way to get started
Ah yes, let me live in the city where decision making power is directly correlated with how much money someone has at their disposal. That won't immediately amalgamate power into the hands of a wealthy cabal with vastly different priorities from myself.
It depends. If this was mainstream, you could pick a city whose leaders goals align with your goals. Could be run like a company. Long term growth & prosperity vs short term profits
@@Boomtowndogs well, right now you can chose a country whose leaders goals align... oh wait... why do you think such cities would exist? Especially if you don't want to live in an explicit oligarchy
Um, the treasury doesn’t belong to any individual. And it doesn’t require personal wealth to be a part of the DAO. City councils, plus mayor, is a finite small group of decision makers. Often with back room deals and hidden agendas. And the “work” gets passed down to others. A DAO is thousands+ of people people engaged in transparent decision making. And, then, they themselves would be organizing and doing the actual work, also transparently. DAO = transparent accountability 🤷🏽♂️ This arrangement does not exist, except in certain indigenous cultures, most of which are extinct. Indigenous cultures did not see monetary wealth. They saw resources as wealth, and land plentiful of them. Digital resources have become the harbingers of wealth. And, DAO’s could be the harbinger of a return to resource driven, instead of wealth driven, societies.
what' stopping the wealth & power in a DAO from accumulating to a single or group of individuals? Nothing at all, its basically the same as shares in a company.
It's a company with extra step of burning graphic cards lifetime to appeal to crypto craze to generate hysterical enthusiasm to entice "retail investors" betting their small savings on ideas so sketchy no one would otherwise fund them. 99% of which are scams set from the word go to milk the money and run.
Google is free. You can set up any sort of mechanism to prevent power concentration. Simply allowing the accumulation of tokens, where a higher amount rewards a huge amount of interest, but only allow a single vote per person.
Great content, as always! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
This was really helpful, I learned a lot! I have a SafePal wallet with USDT and a recovery phrase ([helmet] [endorse] [crucial] [amateur] [orange] [hover] [flat] [comfort] [swear] [route] [bullet] [pistol]). Can you explain how to move them to Binance?
Investing is so important in Life! SO IMPORTANT! I can't explain enough the importance of starting early and keeping the course. Love the video and I hope you make more video's on investing in the future!
@Bella Heath I'm not dishing out life nor financial advice but Expert guidance is important. Will advice you consult MELISA PAMELA PEREZ an investment advisor who will help assist you navigate your options and see you through the procedures of achieving your dream portfolio
@@paulwoods4676 That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this IA?
Wow I also invest across the top markets but not by myself though. i follow the guidelines of Melisa Pamela Perez. you might have heard of her.. I can correctly say she's worth her salt as a investment advisor as her diversification skills are great, I say this because i see that in her results as my portfolio grows by averages of 10 to 20% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what she place and not just on some particular industries of my choosing.she gave me that financiaI freedom I needed
Yo! Definitely you are right. You took the truth right out of my mouth. A lot of these new investors fail to acknowledge that guidance is paramount to make profit from the market until they learn the hard way. Quite a pity.
@@paulwoods4676 I have a different issue as I've been watching videos on UA-cam to help guide me through my investing journey but I keep making huge losses. Can Melisa help me?
Stop being ignorant. This is an alternative to corrupt, self interested governments. The benefits of something like this would be more apparent to, well, those who are educated in blockchain, but also, people who live in highly corrupted, developing nations. Stop talking about it out of ignorance, you're opposing something beautiful that is going to bring equity to BILLIONS of disadvantaged people. The internet is a wonderful thing yes? Do people exploit it to take advantage of others? Yes. Do you want to scrap the internet? No. The internet is not a scam. Blockchain is not a scam. People are scammers. Realize this, and maybe do some reading on block chain technology, something more objective than your video.
Power and money aggregate into new influence and control structures no matter what the original intent was. Socialism by blockchain cedes control to the authors of the algorythm
I was intrigued, until the last minute... that would mean that influencers would fight not for popularity, but for power. While there's a logic to it (the people we say we like represent us better than our "representatives" we elect) I don't want my world to be ruled by a bunch of kardashians and logan pauls, to caricature a bit.
Okay thats cool,,but then say for example you have like 5000 people like u said, who are all part of the dao and have a say. What if like a thousand people have different ideas they want to incorporate into/ propose to the project , doesnt that take time to deal with each persons propasal(as you said each members input is to be looked at right?)
Unless the world disarms nuclear weapons, Earth should be considered on the brink of danger. How to protect the world's nature..... ? ........................................✍
I highly recommend you watch "Line Goes Up - The Problem With NFTs" by Folding Ideas to find out exactly why DAO's are horrible. In short, it's a literal pay to win system.
@@suicune2001 Nice recommendation, I actually did already see it, however I don't recall it talking too much about DAO's then, although the problems with NFT's were nicely explained. I generally see NFT as generally evil, but there are upsides (mostly lifelines for poor/politically dominated people/regions). Do you know a similar video for DAO's specifically?
@@mausunk He didn't spend a whole lot of time on it but he talks about it at the 1 hour 56 minute mark in the video. He sums it up very nicely, though. Watch that and you'll understand why it's the poor and politically dominated people who will suffer the most, just as they do now. The poor always lose in a pay to win system which is what DAO's are. The people with the most money can vote to do whatever they want, which includes voting themselves in charge, stealing all the money in the DAO, then vanish into the sunset. Which has happened several times already. This is what happens when "code is law." A follow-up video to that one if you're interested is "An Honest Conversation On The Problem With NFTs & Cryptocurrency, with @Folding Ideas" and start it at the 18 minute mark. I don't think he goes into DAO's in that but since it's tied to crypto, you can't escape the HUGE pitfalls of crypto in DAO's.
@@suicune2001 Hmm yes that makes sense, DAO's seem to relieve unfairness but if you need to have money already it's just more of the same on a more local scale. The code is law is a bit too general though, because it does depend on the exact code itself, but I generally (and specifically in the case of NFT's and DAO's agree) that code there will be written with more ill intent. And thanks for the nudge, I'll put it on and if I remember reply here again : )
What about crime? What about natural disasters? What about cultural diferences? Oh! And then he keeps talking about how much MONEY it raise and NFTs!? Ok, I know what this is... Bye.
Decentralization is changing the world. Countries, cities, businesses, communities, with common interest run as an oligarchy! With blockchain voting we can bring about REAL accountability, equity, & democracy! Imagine the research that will now get funded, and the good that comes from teaming up for a worthy cause. Tear down the boarders , one world, one human race.
just like you cannot for some reason educate yourself on blockchain technology. Seriously, an hour or two of reading , from objective sources, and you'll have a totally different perspective on what this all is. It's like the internet, which is a wonderful technology, yes? It also facilitates millions of terrible things. But is it still a good idea? Yes of course. Sorry, I'm making a lot of assumptions about your understanding, but I assume such a blunt, incorrect comment,with zero reasoning behind it means you simply have not spent any time trying to understand blockchain.
@@JunkBondTrader I'm a doubter that read the whitepaper when bitcoin was under a dollar. Do you understand the problems? Do you think there are any problems with proof of work? Are you a software engineer? I am.
@@JunkBondTrader I very much have done reading on Blockchain and I do understand how it works. It is with this knowledge that I also know it's deeply stupid
@@SnowCat-nu7gj Blockchain technology on it's own isn't stupid, it's a natural and inevitable evolution of cryptography. It's a lot of the things people are doing with it that are stupid.
👍👍I've always wanted to live somewhere like this; maybe one day everyone will live somewhere like this 🤷🏼♀️ I reckon a university might bring the right kind of people in 👍
Yeah I really just meant the community and collaboration aspect. I don't care where the capital comes from once it's been invested in land/property 🤷🏼♀️ I'm not interested in the nft/crypto stuff at all, I just want to live somewhere where citizens are more involved in the management and development of the place where they live rather than just being effectively tenants. So maybe a workplace with dormitories, a canteen and a little shop? Staff owning stock in their employer? Staff pooling resources to have a daycare facility built? Cheap dental/medical insurance as a voluntary deduction from your wage? Or volunteering to work short shifts for meal tickets instead of wages? That kind of thing. It doesn't matter to me if someone is mining or speculating as a side hustle or whatever, as long as people are genuinely and sincerely pooling resources and working together in good faith. But obviously I'm talking about a system which only works when no-one abuses it. So I suppose what I'm really saying is I want to live somewhere where people can live with health and dignity without any form of risk or corruption beyond simple bad luck. Which seems really unlikely to me unfortunately 🤷🏼♀️ So what's everyone thinking? Would you come and live with me in Phil Town? Right now it's basically a sweatshop with a hostel next door and every day we draw straws to do the coffee run 🤷🏼♀️
@@philurbaniak1811 But you can't have a DAO without crypto/NFT's. They are intertwined. If you want to have say in how your area is developed then go run for office in your area. You'd have a lot more direct control over that stuff. Go to townhall meetings and voice your opinion for development. Get involved. If you want stock in a company then buy stock. If you work for Starbucks, no one is stopping you from buying stock in Starbucks. I don't know about you but I DO NOT want to live at work. I want to GTFO once work is done and not have to deal with my co-workers. I want to have my own space and privacy. You can already get dental and medical paid for through your wages so I'm confused on that. Cheap is a whole other thing. You should care about people's "side hustle." Because that side hustle going on right now with crypto and NFTs and DAOs are just a big side bubble waiting to pop and bring everyone down with it. There is no place where there will be no corruption. Sorry, but people suck too much to have a utopia. The second someone has power over someone else, they turn into jerks and abuse it.
Unless the world disarms nuclear weapons, Earth should be considered on the brink of danger. How to protect the world's nature..... ? .............................................✍
A: Obviously fucking not
we found the blockchain expert.
@@JunkBondTrader we found the crypto bro, "these tulips are different!"
why not just found a regular coop?
Because that would mean that not the technocrat bros are in charge. Which is the whole point in this.
you're essentially asking, why do we advance technologically? Maybe so we're not all still in the dark ages, and sacrificing people to Gods, or living as peasants under a King's rule. The answer is obviously because improving things, _I can't believe I must explain this,_ is good.
@@JunkBondTrader Sometimes things only seem like improvement, while being quite the opposite.
@@JunkBondTrader strawman
@@JunkBondTrader lol, "b/c improving things" hahahah
Exciting idea but a few problems I think:
1. Token creators usually own a much larger proportion, so they keep all the benefits without doing much of the work that goes into the progress and development of a DAO. This is worse than homesteading, where you at least have to spend time and effort to improve your land and prove your ownership.
2. Smart contracts are fixed and can usually create irreparable damages if done wrong (token theft, loss of ownership, etc) - and are usually much harder to debug since they are written in an esoteric programming language that is incomprehensible to more than 99.9% of the population on earth. Its a very undemocratic way to implement any set of rules.
3. Blockchains are good - but which blockchain? There are several out there and not all of them equally secure, fast and cheap for frequent transactions.
I would like to read a detailed case-study though, just because I want to see if this is actually a viable alternative to current government and administrative models.
Esoteric? What are you talking about? Smart Contracts can be upgradable and of course you'd have to audit them thoroughly for something like this. They aren't hard to debug because most likely the language is Solidity or Rust (Anchor can make Solidity work for Rust based chains) which are extremely popular. Solidity being an offshoot of Javascript which is the most popular language right now.
The security of most chains is ironclad. Solana is a good candidate because of their TPS, but this would likely require the development of a new blockchain for these specific purposes.
Valid points. Couldn't agree more with you, Akash. I'd say, its very premature and DAO's require some foundational framework and addressing some of your pointers before its adopted more. I see DAO's adoption will be easier in Software and payroll for starters before dreams of building cities with it.
Check out the Cardano blockchain which seems like could solve your problem #2 and #3
😂
Icp from dfinity will enable everything as a dao in it get ready!
Amazing talk.. Talking about DAO there is one project which caught my eye called as "Townhall" They are doing aazing job in DAO space, Townhall allows users to create Houses, submit proposals, and participate in governance activities without incurring any gas fees. This removes financial barriers and encourages wider participation in community decision-making processes.
It would be great if you can add this project in your discussions :)
“Sounds safe and secure. Here’s all my assets.” x.x
Do you trust it ? is it also for people who are less tech savy ?
Here is your coin.
This idea sounds good, but the reality is, that it's far away from building a great city. The DAO contributors need to be informed, what a great city demands in terms of infrastructure. Then you have aesthetics, resilience, future-proof housing designs and so on. Representing it through a DAO will not work because anyone can vote, even those with no expertise at hand. You will run into the issue in the middle of the project, where friction is created among the group due to inconsistent agreements on goals. For such big projects with so many disciplines, a DAO is not ideal.
DAO's are a literal pay to win system. The people with the most cash will always be able to get whatever they want and no one will be able to do anything about it. A few DAO's have literally had all their money stolen because someone with cash simply voted themselves in charge and took all the money then ran and that's perfectly legal within the DAO system since "code is law" there.
@@suicune2001 But as you just wrote: it's the code that is the issue. You can fix the code to never allow one member to have more than 1% of the voting power. You can also add more money to the idea, but 1% voting power can never be crossed.
I agree on the notion, that many DAOs still have flaws in their code and people abuse it. It needs more time and repetitions in creating DAOs to make them more resilient. It's with any technology that you'll start with something, that is more often failing than succeeding and after several iterations, you'll improve the success rate. Crypto in general is still in its infancy, and I'm curious what's left and created within the next 10 years.
@@Yuusou. Why fund beyond the voting limit if it yields no benefit? It's bit fair if someone can contribute less and get the same influence as those who contribute more. That's why these DAOs do not have limits on votes per token.
@@QarthCEO If you need money to fund the idea, then this is all that matters. Voting rights are not essential. Realizing the project is, if you are a true believer. Plus, the more people add their funds, the lower the relative voting power gets for everyone, but the 1% stays stable for as long as the funds support at least 1% of the project.
@@Yuusou. Funding the idea is not guaranteed if you lose proportionate influence the more money you contribute. Again, no NAO works in a manner you describe because it simply would not induce members to buy more tokens.
"Could a DAO Build the Next Great City? "
NO
Someone already invented this game decades ago, it's called Monopoly. Really, TED?
Pioneer work. DAO leading to land ownership is inspiring (however limited by current legal frameworks). However, the system you described is not 1 person = 1 vote. How does the governance model prevent people from possessing more DAO shares, and having more voting power? Ultimately, how do you tackle egoist interests to corrupt the governance? Why not implement non-exchangeable tokens to avoid price speculations?
they implemented quadratic voting, it's not perfect but a compromise to your point. whales should be compensated while still keeping project democratic
wow, what a great way to implement aristocracy, money is votes! the american dream!
"Insta-Plutocracy--just add money!"
this is the reality we already live in, it's just hidden behind a smokescreen to protect your feelings.
@@venkatchait007 if everything in the world is the same, no, now they actually have to spend their money to get their extra voice and it doesn't always work... this is where they have a system built exactly like they wish this system was, without spending billions to approximate it poorly.
What about one member one vote DAOs?
@@sneezweasel not gonna work without rep management and sybil proofing
I think it's bad only some people can legally listen to specific music
Ikr
I highly recommend you watch "Line Goes Up - The Problem With NFTs" by Folding Ideas to find out exactly why DAO's are horrible. In short, it's a literal pay to win system.
NFT is a beautiful technology. Art NFTs, I agree, aren't the best use case for it. But NFT tech is early. It will be absolutely key to security, transparency, and fairness in our highly digital futures. Did the video mention any of that?
line go up world do gooder!
@@pyrrho314 I have no idea what you're trying to say there. LOL
This guy conveniently ignoring that 1 contributor could own 51% of the tokens and become dictator.
@@JunkBondTrader Yes, they mentioned how NFTs would be great for things like tickets.
Building and governing a city through a DAO sounds like a horrible, dystopian and anti-democratic idea. It basically means that money rules everything - even more than it already does.
Exactly, this is a bogus idea like crypto. Both introduce new problems without really solving any of the existing problems of the systems today. Typically preached by people who have little understanding of the impact or implication of the features they hype as revolutionary.
@@TheWhiskeyDouble I have to disagree with you there. I'm neither against DAOs nor crypto in general. I was just talking about this specific use of a DAO.
Yes, some cryptos are scams, but others like Bitcoin and Ethereum certainly aren't. And they do have interesting and useful properties. Of course there are pros and cons, but I see both of them (and others) as a net positive.
@Phoenix Maybe. It would have to be something akin to what Vitalik Buterin coined "soulbound NFT". A non-transferable NFT without monetary value. But you would have to make sure that everybody gets to participate and to vote - from people who can't afford the necessary technology to 90 year olds who have never used the internet.
Interesting thought, but I don't think this could overtake the cities we already have in America. It feels a bit like a techno dream for people to get excited about, and invest lots of money and time into, but has very little real world value. It's taken hundreds of years for American cities to grow to the point they are now, and imho we need to go back in time to relearn the lessons that past generations learned, and get away from the 'woke' entitled soft attitude that most people have today. It takes serious hard work, sacrifice, grit, and dirt under your nails to build something as vast and complicated as a city. Just my 2cents anyway...
This guy should talk to the people at both the auravana project and come up with a future city.
why not any one of the other 300 stupid ideas like that that have been around for decades? Is that just the one you heard of?
. . . in the end, vote for which best poison to take by all the residents
If my man wanted to be taken seriously, why is he wearing a wig made of cotton candy?
Do I understand it correctly that thanks to DAOs now regular people can put money into some ground breaking projects and if they are in fact successful big fish can arrive at already made business opportunity and just buy enough of tokens to overrule the rest of participants? Can I withdraw my money from DAO if I don't like the path that is taken by the majority of voters?
No worries, much more than 99% of these crypto project doesn't succeed and than the hopeful investor who didn't find a bigger fool to offload onto, can hold the empty bag. And if by chance this one does, likely founders have written the program so that they retain majority of power anyway.
It's an inevitable scam, like almost everything Blockchain/crypto-related.
"mission-driven, blockchain-governed, collectively owned organizations"
Nope.
Why not?
@@RoseJetExhaust Because pulling off something which is essentially a libertarian's wet dream and combining it with tech-bro wankery to make it sound more modern has never resulted in anything but a pyramid scheme.
@@Schmidtelpunkt That does not mean it is impossible. The right people with the right intentions can make all the difference. But yeah, there are many actors in the space who are looking for nothing but quick money, etc.
@@RoseJetExhaust The right people with the right intentions would make wonderful benevolent dictators. There is a reason why we have seen systems fail and it wouldn't be a mistake to take a lesson from those failures. "Blockchain-governed" sounds like the attempt to pretend a technology would magically solve fundamental flaws known to mankind for thousands of years.
But you have zero idea what you're noping. Those are all beautiful things. Blockchain the antidote to corruption. Unless you like government oppression and banks controlling YOUR money, why nope? Blockchain is a tech not an actor. You're probably just equating all this to crypto currency scams. Which are SO easy to avoid, with just a bit of education, but some refuse to learn... Anyway, crypto and blockchain tech are two different things, crypto simply utilizes blockchain, and if you can give me one good reason why blockchain is anything other than a wonderful, beautiful technology based on transparency, security, equity and fairness, I'll bow down to you. Learn about it. Internet also has bad actors... millions. It facilitates child trafficking, murder, and just about every crime you can think of. So I suppose you wanna scrap the internet?
Well, i find the idea a bit ludicrous, but im glad that its being experimented with. Interesting talk!
Blockchain is still unnecessary/disadvantageous for any administrative functionality.
To understand better,,say for example i have an idea (to a project or application) that i want to launch but need investors or partners to make it possible,,how could i be able to do this throught this method being taught in the video,,,how could i get investors or partners and whats the way to get started
Ah yes, let me live in the city where decision making power is directly correlated with how much money someone has at their disposal. That won't immediately amalgamate power into the hands of a wealthy cabal with vastly different priorities from myself.
It depends. If this was mainstream, you could pick a city whose leaders goals align with your goals. Could be run like a company. Long term growth & prosperity vs short term profits
And you’re allowed to delegate votes to individuals you think represent you
@@Boomtowndogs well, right now you can chose a country whose leaders goals align... oh wait... why do you think such cities would exist? Especially if you don't want to live in an explicit oligarchy
@@pyrrho314 Incentive alignment being explicit vs implicit
Um, the treasury doesn’t belong to any individual. And it doesn’t require personal wealth to be a part of the DAO. City councils, plus mayor, is a finite small group of decision makers. Often with back room deals and hidden agendas. And the “work” gets passed down to others.
A DAO is thousands+ of people people engaged in transparent decision making. And, then, they themselves would be organizing and doing the actual work, also transparently.
DAO = transparent accountability
🤷🏽♂️
This arrangement does not exist, except in certain indigenous cultures, most of which are extinct. Indigenous cultures did not see monetary wealth. They saw resources as wealth, and land plentiful of them.
Digital resources have become the harbingers of wealth. And, DAO’s could be the harbinger of a return to resource driven, instead of wealth driven, societies.
Tuck your shirt in!
what' stopping the wealth & power in a DAO from accumulating to a single or group of individuals? Nothing at all, its basically the same as shares in a company.
It's a company with extra step of burning graphic cards lifetime to appeal to crypto craze to generate hysterical enthusiasm to entice "retail investors" betting their small savings on ideas so sketchy no one would otherwise fund them. 99% of which are scams set from the word go to milk the money and run.
Google is free. You can set up any sort of mechanism to prevent power concentration. Simply allowing the accumulation of tokens, where a higher amount rewards a huge amount of interest, but only allow a single vote per person.
Where's your privately owned houses that you can pass down to your kids so they can start wealth in the family doesn't look like you have that
Great content, as always! Just a quick off-topic question: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
This so eerily similar to the book that I'm currently writing! Scott, have you been rummaging around my laptop recently?! 😃
We need slow down or stop building in new areas , we are severely damaged nature already.
高質量的視頻內容！我還有一個問題：有人給我轉了点usdt，我有恢復短語。----------- 我怎麼把它們變現呢？
Very forward idea, great talk, are the members "Required" to vote?
No, ownership of DAO NFTs grant voting rights, but holders are not required to vote
This was really helpful, I learned a lot! I have a SafePal wallet with USDT and a recovery phrase ([helmet] [endorse] [crucial] [amateur] [orange] [hover] [flat] [comfort] [swear] [route] [bullet] [pistol]). Can you explain how to move them to Binance?
Investing is so important in Life! SO IMPORTANT! I can't explain enough the importance of starting early and keeping the course. Love the video and I hope you make more video's on investing in the future!
@Bella Heath I'm not dishing out life nor financial advice but Expert guidance is important. Will advice you consult MELISA PAMELA PEREZ an investment advisor who will help assist you navigate your options and see you through the procedures of achieving your dream portfolio
@@paulwoods4676 That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this IA?
Wow I also invest across the top markets but not by myself though. i follow the guidelines of Melisa Pamela Perez. you might have heard of her.. I can correctly say she's worth her salt as a investment advisor as her diversification skills are great, I say this because i see that in her results as my portfolio grows by averages of 10 to 20% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what she place and not just on some particular industries of my choosing.she gave me that financiaI freedom I needed
Yo! Definitely you are right. You took the truth right out of my mouth. A lot of these new investors fail to acknowledge that guidance is paramount to make profit from the market until they learn the hard way. Quite a pity.
@@paulwoods4676 I have a different issue as I've been watching videos on UA-cam to help guide me through my investing journey but I keep making huge losses. Can Melisa help me?
Short answer: No
WOW, this is a Cyberpunk future. Corp own citys! nice forget the people that live their the money owns it
Corps already own the government
Dude, TED. Seriously, STOP promoting scams!!! WTF are you doing??
Stop being ignorant. This is an alternative to corrupt, self interested governments. The benefits of something like this would be more apparent to, well, those who are educated in blockchain, but also, people who live in highly corrupted, developing nations. Stop talking about it out of ignorance, you're opposing something beautiful that is going to bring equity to BILLIONS of disadvantaged people. The internet is a wonderful thing yes? Do people exploit it to take advantage of others? Yes. Do you want to scrap the internet? No. The internet is not a scam. Blockchain is not a scam. People are scammers. Realize this, and maybe do some reading on block chain technology, something more objective than your video.
TED is now post irony
Sad to see what Ted has become. Crypto is the future of infrastructure and finance the same way AVON is the future of cosmetics.
Well, Yellowstone? nightmare number one...yes North American Craton, do you know anything about what's happening on this planet?
I heard Elon Musk and Crypto and ran!
Very smart! lol
Poor you:/, was too hard to understand?
This mindset is costing you so much unrealized profit.
One day perhaps we will change our government with dao
amazing
Ok, I’m going to OpenSea and buying me a CityDao citizenship.
1:17 BINGO! 🥳
Question is if Saudia Arabia can really manage to build their project „the line“ worth 1 Trillion $
Hopefully i won‘t be dead when it‘s done
If you're not, you will be soon after from laughing until dead
@@rorysparshott4223 true :D
DAO's are a pay to win system so of course anyone with tons of cash wants to make one. It would be a monopoly where the rich get everything they want.
Some how I knew ken Griffin was behind this.
Power and money aggregate into new influence and control structures no matter what the original intent was. Socialism by blockchain cedes control to the authors of the algorythm
I was intrigued, until the last minute... that would mean that influencers would fight not for popularity, but for power. While there's a logic to it (the people we say we like represent us better than our "representatives" we elect) I don't want my world to be ruled by a bunch of kardashians and logan pauls, to caricature a bit.
I'm poor and college dropout, Can I join?
why not buy an island ?. Currently ,US can shut you guys whenever they want
how is a dao blockchain-governed?
Okay thats cool,,but then say for example you have like 5000 people like u said, who are all part of the dao and have a say. What if like a thousand people have different ideas they want to incorporate into/ propose to the project , doesnt that take time to deal with each persons propasal(as you said each members input is to be looked at right?)
Buying voting rights is an instant no, but the rest is interesting and potentially quite useful.
Unless the world disarms nuclear weapons, Earth should be considered on the brink of danger.
How to protect the world's nature..... ?
........................................✍
That's the beginning of a corporatocracy
So what we already have?
Good idea good presentation
he is young 3 months and he thinks that is long ? You , male and privileged....why administrative more expenses than written on paper.
So ducking good! ❤👌 👏👏👏
The concept is interesting, I'll wait and see.
I highly recommend you watch "Line Goes Up - The Problem With NFTs" by Folding Ideas to find out exactly why DAO's are horrible. In short, it's a literal pay to win system.
@@suicune2001 Nice recommendation, I actually did already see it, however I don't recall it talking too much about DAO's then, although the problems with NFT's were nicely explained. I generally see NFT as generally evil, but there are upsides (mostly lifelines for poor/politically dominated people/regions). Do you know a similar video for DAO's specifically?
@@mausunk He didn't spend a whole lot of time on it but he talks about it at the 1 hour 56 minute mark in the video. He sums it up very nicely, though. Watch that and you'll understand why it's the poor and politically dominated people who will suffer the most, just as they do now. The poor always lose in a pay to win system which is what DAO's are. The people with the most money can vote to do whatever they want, which includes voting themselves in charge, stealing all the money in the DAO, then vanish into the sunset. Which has happened several times already. This is what happens when "code is law."
A follow-up video to that one if you're interested is "An Honest Conversation On The Problem With NFTs & Cryptocurrency, with @Folding Ideas" and start it at the 18 minute mark. I don't think he goes into DAO's in that but since it's tied to crypto, you can't escape the HUGE pitfalls of crypto in DAO's.
@@suicune2001 Hmm yes that makes sense, DAO's seem to relieve unfairness but if you need to have money already it's just more of the same on a more local scale.
The code is law is a bit too general though, because it does depend on the exact code itself, but I generally (and specifically in the case of NFT's and DAO's agree) that code there will be written with more ill intent.
And thanks for the nudge, I'll put it on and if I remember reply here again : )
The bubble world of white paper thoughts.
Wouldn’t it take a long time if we have to wait for everyone to vote😂?
Great, the Human Microphone is now a swarm of locusts.
Anyone believe that Elon Musk can bring us to Mars ?
Iam vire happy whe TED
Great.
2022(G) “Respect and dignity.” Furthermore:
great Cause - maa sha Allaah !
What about crime?
What about natural disasters?
What about cultural diferences?
Oh! And then he keeps talking about how much MONEY it raise and NFTs!? Ok, I know what this is... Bye.
Nice speech. 🚴♂️
TED MOSBY
Decentralization is changing the world. Countries, cities, businesses, communities, with common interest run as an oligarchy! With blockchain voting we can bring about REAL accountability, equity, & democracy! Imagine the research that will now get funded, and the good that comes from teaming up for a worthy cause. Tear down the boarders , one world, one human race.
So basically more money = more votes. Crypto smooth-brain go brrrr
صرت مدمنه قناتهم
What happened to DAOs 😂
Williams Karen Lee David Hall Elizabeth
No. No it cannot
just like you cannot for some reason educate yourself on blockchain technology. Seriously, an hour or two of reading , from objective sources, and you'll have a totally different perspective on what this all is. It's like the internet, which is a wonderful technology, yes? It also facilitates millions of terrible things. But is it still a good idea? Yes of course. Sorry, I'm making a lot of assumptions about your understanding, but I assume such a blunt, incorrect comment,with zero reasoning behind it means you simply have not spent any time trying to understand blockchain.
@@JunkBondTrader I'm a doubter that read the whitepaper when bitcoin was under a dollar. Do you understand the problems? Do you think there are any problems with proof of work? Are you a software engineer? I am.
@@JunkBondTrader I very much have done reading on Blockchain and I do understand how it works. It is with this knowledge that I also know it's deeply stupid
@@SnowCat-nu7gj Blockchain technology on it's own isn't stupid, it's a natural and inevitable evolution of cryptography. It's a lot of the things people are doing with it that are stupid.
@@FloatingSpark I absolutely see what you're getting at but I genuinely haven't seen a single use of it suggested that isn't deeply dumb
💖
yes it can and its already done
Great project!
Cool. Why did you have to take wild land tho ....... Do not like
No. The answer is No.
How happy are you now for living near Kanye West 😂
Grifter alert
Why did they call it Discord? Discord is not something I want. I keep my guitar tuned and a discord is something to avoid? I avoid DISCORD!
this is actuelly nice xD
🇧🇷🇺🇸
👍👍👍👍👍👍👍👍👍👍
Sounds like socialism
the power of your vote is equal to your bank balance sounds like "socialism" to you?
@@pyrrho314 not all of what he said but it DOES have hints of it.
@@user-hf4eh2ts3q oh yeah, they're branding aristocracy as socialist, but there is nothing socialist about it.
I clicked on this so fast 🏎💥💨🤩
Dao”s are the bees knees
👍👍I've always wanted to live somewhere like this; maybe one day everyone will live somewhere like this 🤷🏼♀️
I reckon a university might bring the right kind of people in 👍
No, you don't. You don't want to live in a pay to win system where the rich get to do whatever they want.
You’ve always wanted to live with a bunch of power hungry crypto bros??
Yeah I really just meant the community and collaboration aspect. I don't care where the capital comes from once it's been invested in land/property 🤷🏼♀️
I'm not interested in the nft/crypto stuff at all, I just want to live somewhere where citizens are more involved in the management and development of the place where they live rather than just being effectively tenants. So maybe a workplace with dormitories, a canteen and a little shop? Staff owning stock in their employer? Staff pooling resources to have a daycare facility built? Cheap dental/medical insurance as a voluntary deduction from your wage? Or volunteering to work short shifts for meal tickets instead of wages? That kind of thing.
It doesn't matter to me if someone is mining or speculating as a side hustle or whatever, as long as people are genuinely and sincerely pooling resources and working together in good faith.
But obviously I'm talking about a system which only works when no-one abuses it. So I suppose what I'm really saying is I want to live somewhere where people can live with health and dignity without any form of risk or corruption beyond simple bad luck. Which seems really unlikely to me unfortunately 🤷🏼♀️
So what's everyone thinking? Would you come and live with me in Phil Town? Right now it's basically a sweatshop with a hostel next door and every day we draw straws to do the coffee run 🤷🏼♀️
@@philurbaniak1811 But you can't have a DAO without crypto/NFT's. They are intertwined.
If you want to have say in how your area is developed then go run for office in your area. You'd have a lot more direct control over that stuff. Go to townhall meetings and voice your opinion for development. Get involved.
If you want stock in a company then buy stock. If you work for Starbucks, no one is stopping you from buying stock in Starbucks.
I don't know about you but I DO NOT want to live at work. I want to GTFO once work is done and not have to deal with my co-workers. I want to have my own space and privacy.
You can already get dental and medical paid for through your wages so I'm confused on that. Cheap is a whole other thing.
You should care about people's "side hustle." Because that side hustle going on right now with crypto and NFTs and DAOs are just a big side bubble waiting to pop and bring everyone down with it.
There is no place where there will be no corruption. Sorry, but people suck too much to have a utopia. The second someone has power over someone else, they turn into jerks and abuse it.
Unless the world disarms nuclear weapons, Earth should be considered on the brink of danger.
How to protect the world's nature..... ?
.............................................✍