#Bitcoin & #Altcoin Trading Talk 29

## Bitcoin & Altcoin Trading Talk #29: A Summary

This episode of "Bitcoin & Altcoin Trading Talk" dives deep into the burgeoning world of Decentralized Autonomous Organizations (DAOs), specifically focusing on a new and highly anticipated DAO launching on the Ethereum blockchain. The hosts, William Kale and Rob Borden of Coinage.com, along with guests Brian Beamish ("The Rational Investor") and Alex Sturk, explore the DAO's mechanics, potential, and the broader implications for the cryptocurrency market. The conversation draws parallels to past market booms, like the dot-com era, and highlights the rapid proliferation of DAOs, raising concerns about potential market corrections and the long-term sustainability of the current hype. The episode also touches on the evolving landscape of altcoins, noting a shift towards projects demonstrating real utility and the anticipation of a busy summer for the crypto space.

### 1. Narrative Summary

The podcast episode primarily revolves around a new DAO launch, with its ICO ending on May 28th. This DAO, currently valued at $150 million despite an initial funding goal of just $500,000, has captured significant attention, with over 10% of Ethereum locked within it. The hosts and guests dissect the DAO's functionality, including its voting mechanisms, token generation rate, and a unique "split" feature allowing holders to withdraw their ether. They discuss the potential for the DAO to supplement or even replace the Ethereum Foundation, highlighting Ethereum's role as a pay-per-use network distinct from Bitcoin's function as a currency. The rapid creation of copycat DAOs is a significant concern, mirroring the dot-com boom and raising questions about the long-term viability of the space. The discussion also covers broader market sentiment, noting a focus on the relationship between Ethereum and the DAO, and anticipating a potential trading opportunity ("DowEat") as Ethereum's role in the DAO evolves.

### 2. Main Topics Discussed

• DAO Launch & Mechanics: Detailed discussion of the new DAO, its ICO, voting power, token generation, and the "split" feature.
• DAO Value & Pegging: Analysis of how the DAO's value is influenced by Ethereum and Bitcoin.
• DAO Copycats & Market Concerns: Comparison to the dot-com boom and concerns about the proliferation of DAOs.
• Ethereum & the Dow ("DowEat"): Speculation on the trading opportunity arising from the relationship between Ethereum and the DAO.
• Bitcoin Market Sentiment: Discussion of Bitcoin’s price action (making higher lows) and potential for a summer rally.
• Altcoin Utility: Observation of a shift towards altcoins demonstrating real-world utility.
• Upcoming Launches & Events: Anticipation of new projects and launch parties in the crypto space.
• Bitcoin Halving: Discussion of the upcoming Bitcoin halving in eight weeks.
• Lisk & Related Projects: Brief mentions of Lisk, Made, and NXT as related to decentralized organizations.
• DAO Governance & the Ethereum Foundation: Exploring the potential for DAOs to influence or replace the Ethereum Foundation.

### 3. Key Quotes

• William Kale: "I wouldn’t be surprised if the first proposal is we should probably invest in Bitcoin."
• Alex Sturk: "I think you're going to see a pretty close tie between Dow and Ethereum."
• "I started in this industry three years ago. And I would just simply go around the forums and can someone please tell me what the actual intrinsic value of one Bitcoin is? And nobody can answer the question."

### 4. People Mentioned

• William Kale: Coinage.com co-founder, Podcast Host
• Rob Borden: Coinage.com, Podcast Host
• Brian Beamish: "The Rational Investor," Guest
• Alex Sturk: Guest
• Ethereum Developer: Mentioned in a previous conversation.

### 5. Bitcoin Price if Mentioned

While no specific Bitcoin price was stated, the discussion referenced Bitcoin’s role as a benchmark for Ethereum’s value and noted Bitcoin was making “higher lows,” indicating a positive price trend.

Website Mentioned:

• dawub.org (for purchasing DAO tokens initially)