Although it's obvious that the DAO is a pretty crazy experiment, I haven't read anything that completely convinces me it's going to fall apart. I'm aware that it's daring, that it's got lots of <i>potential</i> vulnerabilities. I'm inclined, for the mean time, to just sit back and admire the enthusiasm.
If you found a security flaw in ethereum / DAO and stole a bunch of money, is it even illegal? Also, that guy who put 1/3 of his life savings into DAO is out of his mind
> <i>After it collects Ether from investors — the deadline to buy in is May 28 — the D.A.O. aims to put the money into other digital currency start-ups. </i><p>So the D.A.O. is just a very technical form of angel investing? I think a decentralized autonomous organization is an interesting concept but I wonder what the great benefit for society is. Most countries have well established legal personalities, such as corporations to create consensus between different shareholders. An it's usually not even expensive to set up. In the EU anybody can create a corporation in any member country using corporate law from any EU country, so you get to choose from a wide array of legal forms. What's the added benefit of a stateless organization? The corporate structure might exist in a stateless form but apart from that the organization is still bound by local regulations whenever it actually engages in a market. To me it seems like a concept dreamt up for a utopian anarcho-capitalist parallel universe.