Own a part of a 3d printer! CREATE on [BTC-TC]

poly

member

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Merit: 10

Weighted companion cube

Quote from: 420 on March 07, 2013, 01:32:36 AM

did this go anywhere?

Nope, CREATE has being cancelled:

Quote

Hey all,

After rereading this thread and thinking about whether this would work, I've concluded that while it would
be a fun project, it would not succeed as a business, or as a security on an exchange like this. As some
have pointed out: the profit margin simply isn't advantageous enough to produce enough revenue to make
it worthwhile.

So, I am returning all funds to shareholders via a dividend scheduled for noon today. And I'll just eat the
5btc asset creation fee.

Thanks to everyone who supported this despite its rough start. I've learned from this that I should get a
diverse opinion before jumping into something. I'll always be on the prowl for new projects and
businesses!

Best,
Garrett

420

hero member

Activity: 756

Merit: 500

did this go anywhere?

hanzac

sr. member

Activity: 425

Merit: 262

I think it's a good idea. If you have interest and time, maybe you can start with build a 3d-printer by yourself, it won't cost much. Because currently, it's a fresh thing and it's expensive when you buy a full-fludged product.

I also think if you can build 3d-printers, this will be a better idea just selling the printers. It's much more profitable. Wink

Then you can sell the shares of your capability, maybe start a company, then IPO and selling the stocks. Although, it competes with MakerBot, but it will be much more fun.

Garr255

legendary

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What's a GPU?

Quote from: Littleshop on January 20, 2013, 03:17:25 PM

I think there is a business model there, but maybe not as a security. If you have the cash and wanted a 3D printer, buying one and leasing it out could make money. And of course the twist is that you can accept BTC as payment for items.

Yes that would be a much more simplistic approach, and if I don't start that business, I'd like to see someone do it!

burnside

legendary

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Lead Blockchain Developer

Quote from: Garr255 on January 20, 2013, 02:56:52 PM

Hey all,

After rereading this thread and thinking about whether this would work, I've concluded that while it would be a fun project, it would not succeed as a business, or as a security on an exchange like this. As some have pointed out: the profit margin simply isn't advantageous enough to produce enough revenue to make it worthwhile.

So, I am returning all funds to shareholders via a dividend scheduled for noon today. And I'll just eat the 5btc asset creation fee.

Thanks to everyone who supported this despite its rough start. I've learned from this that I should get a diverse opinion before jumping into something. I'll always be on the prowl for new projects and businesses!

Best,
Garrett

Probably best to use the forced buyback. That way all the shares end up back in the issuer account.

Cheers.

Edit/Add: When you're logged in as the asset issuer it's at the bottom of the trade page.

Edit/Add #2: Heh, I was too late, I see the div on there. No worries, you can still force buyback for 0.0001 or something.

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: Garr255 on January 20, 2013, 02:56:52 PM

Hey all,

After rereading this thread and thinking about whether this would work, I've concluded that while it would be a fun project, it would not succeed as a business, or as a security on an exchange like this. As some have pointed out: the profit margin simply isn't advantageous enough to produce enough revenue to make it worthwhile.

So, I am returning all funds to shareholders via a dividend scheduled for noon today. And I'll just eat the 5btc asset creation fee.

Thanks to everyone who supported this despite its rough start. I've learned from this that I should get a diverse opinion before jumping into something. I'll always be on the prowl for new projects and businesses!

Best,
Garrett

I think there is a business model there, but maybe not as a security. If you have the cash and wanted a 3D printer, buying one and leasing it out could make money. And of course the twist is that you can accept BTC as payment for items.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: danieldaniel on January 20, 2013, 03:03:58 PM

I think this holds the record for fastest security failure! Cheesy

Anyways, I think you're right. It was fun while it lasted.

Haha, I'd make the argument that it never really started Tongue

Ahh well, failure is healthy, right?

danieldaniel

hero member

Activity: 854

Merit: 1000

Quote from: Garr255 on January 20, 2013, 02:56:52 PM

Hey all,

After rereading this thread and thinking about whether this would work, I've concluded that while it would be a fun project, it would not succeed as a business, or as a security on an exchange like this. As some have pointed out: the profit margin simply isn't advantageous enough to produce enough revenue to make it worthwhile.

So, I am returning all funds to shareholders via a dividend scheduled for noon today. And I'll just eat the 5btc asset creation fee.

Thanks to everyone who supported this despite its rough start. I've learned from this that I should get a diverse opinion before jumping into something. I'll always be on the prowl for new projects and businesses!

Best,
Garrett

I think this holds the record for fastest security failure! Cheesy

Anyways, I think you're right. It was fun while it lasted.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Hey all,

After rereading this thread and thinking about whether this would work, I've concluded that while it would be a fun project, it would not succeed as a business, or as a security on an exchange like this. As some have pointed out: the profit margin simply isn't advantageous enough to produce enough revenue to make it worthwhile.

So, I am returning all funds to shareholders via a dividend scheduled for noon today. And I'll just eat the 5btc asset creation fee.

Thanks to everyone who supported this despite its rough start. I've learned from this that I should get a diverse opinion before jumping into something. I'll always be on the prowl for new projects and businesses!

Best,
Garrett

danieldaniel

hero member

Activity: 854

Merit: 1000

Hmm... I have access to a free 3d printer (replicator). My guess is that it costs like $0.50 to print the average small project.

I don't think that this will work as a business. Bigger companies like Shapeways will always be able to be cheaper than you.

The only way for this to be profitable is to mass-print.

I agree with others that this is more fit for a Kickstarter. You could offer free prints as rewards.

You'd have to come up with a clear goal for KS though. Maybe you could have a specific project in mind?

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: Bugpowder on January 19, 2013, 12:52:43 PM

Hey, cut him some slack, he is still in high school! Just learning the ropes!

http://admitmeplease.org/

Not like reading the straight dope on some forum ever physically hurt anyone, you know.

Quote from: burnside on January 19, 2013, 01:07:36 PM

There's not a seasoned wall street professional at the top of the stack dictating things, so you definitely have to be more careful about what you buy into. The community mods vote according to their intuition and whatever other motivating factors they might have, but the end result is that for the most part the community gets what the community asks for.

Being critical is just another free service I provide. If one in ten of those mods reads this and goes hmm...we're already +EV.

Quote from: odolvlobo on January 19, 2013, 08:42:10 PM

Quote from: MPOE-PR on January 19, 2013, 03:30:29 AM

And if any of the BTCT "moderator"-idiots wish to explain yourselves, here's open mic. Start with "I approved this so called security because I am an idiot and I was confused by..."

I approved this so-called security because MPOE-PR is a troll (or more precisely, a dick).

It is plainly obvious that his posts fall into one of the following categories:

Reviling anything or anybody that might compete with him.
Spewing invectives at people that disagree with him.
Absurd boasts and dubious claims of success.

Actually, I voted for it because although it is unusual, it is simple and straightforward. I think it is a better fit for kickstarter, but that doesn't mean it won't work on BTC-TC. Keep in mind that the idea is not to create a business. The idea is that if you want something made on a 3D printer, you can help Garr buy one and he will make it for you.

On the other hand, it looks like Garr is now leaning toward turning it into a business, which I think has a lower probability of success.

No, really, you approved this because I'm a meanie? More power to you.

PS. Why's everyone calling me he, what conspiracy is this!

odolvlobo

legendary

Activity: 4466

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Quote from: MPOE-PR on January 19, 2013, 03:30:29 AM

And if any of the BTCT "moderator"-idiots wish to explain yourselves, here's open mic. Start with "I approved this so called security because I am an idiot and I was confused by..."

I approved this so-called security because MPOE-PR is a troll (or more precisely, a dick).

It is plainly obvious that his posts fall into one of the following categories:

Reviling anything or anybody that might compete with him.
Spewing invectives at people that disagree with him.
Absurd boasts and dubious claims of success.

Actually, I voted for it because although it is unusual, it is simple and straightforward. I think it is a better fit for kickstarter, but that doesn't mean it won't work on BTC-TC. Keep in mind that the idea is not to create a business. The idea is that if you want something made on a 3D printer, you can help Garr buy one and he will make it for you.

On the other hand, it looks like Garr is now leaning toward turning it into a business, which I think has a lower probability of success.

Monster Tent

full member

Activity: 238

Merit: 100

Quote from: Garr255 on January 18, 2013, 05:05:09 PM

Hey guys,

I agree with most of the above. The business model definitely does need to be restructured, and since btc price keeps soaring upwards, the cost of printing via the current contract is definitely overpriced.

I will post back later with a new business plan, which will include USD pricing for prints, and should turn this into more of a company

Is there any indication that a 3d printer can make any sort of profit at all ? Its fine if you have one in your garage and all but creating a business with investors is a different ball game.

I believe this "security" belongs on kickstarter rather than a stock exchange and wouldnt approve it because of the lack of financial projections etc.

Maybe the site needs a new section for these types of projects because calling them "stocks" is laughable.

usagi

vip

Activity: 812

Merit: 1000

13

Quote from: Garr255 on January 18, 2013, 05:05:09 PM

Hey guys,

I agree with most of the above. The business model definitely does need to be restructured, and since btc price keeps soaring upwards, the cost of printing via the current contract is definitely overpriced.

I will post back later with a new business plan, which will include USD pricing for prints, and should turn this into more of a company

Frankly I think this is a terrible business idea.

However, as a LTC-GLOBAL shareholder I don't see why he can't list.

1. It's not our job to try and predict the future about what business can and can't be successful.
2. If it succeeds or fails, it will at least generate trading revenue for me, as a shareholder.
3. Garr has the right to try and make his business successful. I believe that.

So whatever I think doesn't enter into it. I say let him try. Garr is attempting to be a producer here, and run a real business vs. just another miner (or worse, fund). Sure there is room for more miners and more funds. But we also need producers and I think that sets this apart from the vast majority of new business ideas around here. I say kudos to Garr.

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: Bugpowder on January 19, 2013, 12:52:43 PM

Quote from: MPOE-PR on January 19, 2013, 03:30:29 AM

Quote from: SgtSpike on January 18, 2013, 02:22:30 PM

I think it's a neat idea,

Quote from: ahdinosaur on January 18, 2013, 03:48:47 PM

as with the fund, i think it's a great idea

Garr: start here. Apparently you've made 2000 posts for no benefit whatsoever, you're mentally below the average noob. Try reading 2000 posts instead, maybe that works better. "Soaring upwards" a horse's arse pfff.

Heads, people. Heads are for thinking with. Try it sometime.

Hey, cut him some slack, he is still in high school! Just learning the ropes!

http://admitmeplease.org/

I think MPOE-PR occasionally forgets that BTC-TC != MPEX. There's not a seasoned wall street professional at the top of the stack dictating things, so you definitely have to be more careful about what you buy into. The community mods vote according to their intuition and whatever other motivating factors they might have, but the end result is that for the most part the community gets what the community asks for.

Personally, I think the printer idea is a great one, but the business plan needs some work. I'm latching onto the website/selling prints possibilities, not so much the buying of shares to get my own prints. But the possibilities there I think are pretty good. You're not going to get crazy rich, but could definitely make a steady profit with a good setup.

Bugpowder

sr. member

Activity: 394

Merit: 250

Quote from: MPOE-PR on January 19, 2013, 03:30:29 AM

Quote from: SgtSpike on January 18, 2013, 02:22:30 PM

I think it's a neat idea,

Quote from: ahdinosaur on January 18, 2013, 03:48:47 PM

as with the fund, i think it's a great idea

Garr: start here. Apparently you've made 2000 posts for no benefit whatsoever, you're mentally below the average noob. Try reading 2000 posts instead, maybe that works better. "Soaring upwards" a horse's arse pfff.

Heads, people. Heads are for thinking with. Try it sometime.

Hey, cut him some slack, he is still in high school! Just learning the ropes!

http://admitmeplease.org/

Mushroomized

legendary

Activity: 1470

Merit: 1002

Hello!

I think you should focus more on generating profits to expand the operation, buying new printers, printer parts for new printers then purchasing the electronics, etc. Then use software like BOTFARM to be able to control a multiple number of incoming jobs across your printer farm. Otherwise I see this as kind of a shady investment, while the end outcome of you owning a printer and leaving.

Peter Lambert

hero member

Activity: 756

Merit: 500

It's all fun and games until somebody loses an eye

Quote from: Garr255 on January 19, 2013, 03:43:10 AM

Quote from: MPOE-PR on January 19, 2013, 03:30:29 AM

Why in the heck do you folks think that?

It's not either a neat idea or a great idea. It's not even an idea. It's fucking stupid, and that's all it is. This is the exact sort of nonsense GLBSE embodied, except it's a little late to the party. "Oh, there's this cool thing other people do, let's you buy me one of the retail items those other people market and we call it a company". What, maybe the cool of 3d printing brushes off on some random idiot that's not doing anything even vaguely related to it? (Yes dood, you're not "doing" 3d printing, you're doing GLBSE scamming, and six to eighteen months late to boot. 3d printing is just the angle, that's all. Yes, yes, I know, you didn't mean to. Guess what people who don't mean to do what they're doing are called.)

Garr: start here. Apparently you've made 2000 posts for no benefit whatsoever, you're mentally below the average noob. Try reading 2000 posts instead, maybe that works better. "Soaring upwards" a horse's arse pfff.

And if any of the BTCT "moderator"-idiots wish to explain yourselves, here's open mic. Start with "I approved this so called security because I am an idiot and I was confused by..." and fill in the blanks. What's next, a "security" to buy PMBs and "invest" the "dividends" into lottery tickets? A "security" to make clay mugs? Or let me guess, those were taken already.

Heads, people. Heads are for thinking with. Try it sometime.

And does anyone agree with this guy?

Regardless (assuming the answer is a "no"), a new plan is on its way Tongue

Also, I spell out my projects very clearly, so investors/customers know exactly what they're getting into. I'm not forcing anyone to like it or me; I'm just generally polite and straight forward.

He does bring up a number of valid points. I would like to see a full business plan before I invest any money into this.

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: Garr255 on January 19, 2013, 03:43:10 AM

Quote from: MPOE-PR on January 19, 2013, 03:30:29 AM

Why in the heck do you folks think that?

It's not either a neat idea or a great idea. It's not even an idea. It's fucking stupid, and that's all it is. This is the exact sort of nonsense GLBSE embodied, except it's a little late to the party. "Oh, there's this cool thing other people do, let's you buy me one of the retail items those other people market and we call it a company". What, maybe the cool of 3d printing brushes off on some random idiot that's not doing anything even vaguely related to it? (Yes dood, you're not "doing" 3d printing, you're doing GLBSE scamming, and six to eighteen months late to boot. 3d printing is just the angle, that's all. Yes, yes, I know, you didn't mean to. Guess what people who don't mean to do what they're doing are called.)

Garr: start here. Apparently you've made 2000 posts for no benefit whatsoever, you're mentally below the average noob. Try reading 2000 posts instead, maybe that works better. "Soaring upwards" a horse's arse pfff.

And if any of the BTCT "moderator"-idiots wish to explain yourselves, here's open mic. Start with "I approved this so called security because I am an idiot and I was confused by..." and fill in the blanks. What's next, a "security" to buy PMBs and "invest" the "dividends" into lottery tickets? A "security" to make clay mugs? Or let me guess, those were taken already.

Heads, people. Heads are for thinking with. Try it sometime.

Let's not be hypocritical.

And does anyone agree with this guy?

Regardless (assuming the answer is a "no"), a new plan is on its way Tongue

Also, I spell out my projects very clearly, so investors/customers know exactly what they're getting into. I'm not forcing anyone to like it or me; I'm just generally polite and straight forward.

Quote from: MPOE-PR on January 19, 2013, 03:30:29 AM

Try it sometime.

So you're polite. Go sell shares in it, why don't you. And for that matter, who even says you're allowed to substantially change the contract midgame? Eh?

Justin00

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★YoBit.Net★ 350+ Coins Exchange & Dice

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Topic: Own a part of a 3d printer! CREATE on [BTC-TC] (Read 3616 times)