If you talk to an supporter, (DAOs) are bound to come up in the conversation.The platform was build to support these sorts of decentralized applications, and the first Ethereum-based DAOs have started to emerge in early 2016.The crowdsale for has raised far more money than was raised in the original Ethereum crowdsale, which speaks volumes for the idea that Ethereum is simply a platform for other applications to build upon.Having said that, not everyone is buying the DAO hype.Founder and CEO was asked for his thoughts on DAOs during a panel at .Although excited about Ethereum in general, Silbert admitted that he’s a bit more skeptical when it comes to the early DAOs that have popped up so far.During his response to the question about DAOs, Silbert could not be any clearer in his support for the potential of Ethereum and the underlying ether token.He stated, “I am incredibly excited about the enthusiasm in the Ethereum community, about all things Ethereum, about ether, and about the potential for smart contracts.”As the founder of Digital Currency Group (DCG), Silbert is heavily involved in funding projects related to digital currencies and blockchain technology.

Although DCG has not announced any funding for Ethereum startups up to this point, the firm is to make its first investment in the Ethereum ecosystem later this year.and a pre-seed round for as the first Ethereum startup to receive venture capital funding.Although Silbert is excited about Ethereum, he does not agree with the vision held by some of Ethereum’s most-ardent supporters.He explained:“I sense there’s a certain utopian view of society, which I may or may not agree with philosophically, that I just don’t see from a real-world application perspective happening anytime soon.”Silbert went on to explain that a world where there is no regulation, lawyers, contracts, or SEC rules is not going to exist in the near future.He then clarified, “It may solve some problems.The idea of a decentralized autonomous organization, it’s super interesting.”Silbert also noted that many of the earliest applications built on Ethereum are related to gambling, Ponzi schemes, or pyramid schemes, but he also admitted that this isn’t necessarily a problem.

He added, “That’s OK because that’s an interesting way to experiment; it’s certainly what happened with Bitcoin.”One of the main criticisms of Ethereum up to this point has been the lack of useful applications that solve real-world problems.On a of , host and Wall Street veteran described how Ethereum supporters were unable to provide any use cases for the project to them at a recent meetup in New York.During his panel appearance on day one of Consensus 2016, Silbert seemed sympathetic to the idea that practical applications of Ethereum are yet to be found.He stated: “I don’t think the world needs a decentralized Uber, .I don’t think the world needs a decentralized AirBnb, .”Having said that, it’s important to remember that Ethereum is a platform on which a developer is essentially given the power to build any decentralized application they wish.It’s possible the best use cases of Ethereum have simply not been thought of at this point.During his final comments on DAOs, Silbert questioned the role these decentralized organizations can play in the real world.

He concluded: “These DAOs that are raising money from the masses with — basically it’s a blank check.bitcoin is a fiat currencyIt’s a pool of capital that’s going to be deployed in a way that I think will be very democratic.ethereal band wikipediaI’m skeptical because I don’t know the role it needs to play in society.bitcoin difficulty bitsI don’t know, in the capital formation process, what’s wrong with our current system that it’s solving for.ethereum address generatorI hope it’s successful, but I don’t see the problem it’s solving yet.”dogecoin to bitcoin exchange

It is now official.ethereum april 24thThe Chinese central bank, People’s Bank of China is pushing for regulations by circulating new policies to the cryptocurrency exchange platforms operating in the country.bitcoin sell in pakistanAs cryptocurrency traders in the country wait for exchanges to re-enable Bitcoin withdrawals, media reports suggest that the central bank has issued a directive, asking the cryptocurrency platforms to include stringent identity verification process for all the users.earn bitcoin with torThe new regulations released by the central bank is said to be on par with the ones applicable for mainstream banking institutions.bitcoin warren buffettAs the country’s regulatory agencies keep coming up with new policies, there is no relief in sight for frozen Bitcoin withdrawals from leading exchange platforms like Huobi, OKCoin, and BTCC.

These platforms had earlier set March 15, 2017, as the date for reenabling withdrawals, only to further extend the limitations indefinitely.The country’s cryptocurrency ecosystem has been in a state of limbo since the first inspection of cryptocurrency platforms and their trading practices at the beginning of this year.According to reports on the media outlets, the Bitcoin exchanges and trading platforms for any virtual internet goods operating from the country will have to install systems to collect information of the users and also report any suspicious trading activities to the authorities.There are stark similarities between the BitLicense implemented in the State of New York and the recent guidelines.These harsh regulations are said to be an attempt by the government to prevent people from avoiding capital controls and restrict the capital outflow in the form of Bitcoin.These developments have pushed China down from its earlier position as the top Bitcoin market.In the past one month, the BTC/CNY trading pair has seen a huge decline from the earlier 97% of global trade volumes to just 17%.