Topic: Own a part of a 3d printer! CREATE on [BTC-TC] - page 2. (Read 3550 times)

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

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.

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.

aw ;-;

Buy a Printr bot instead, its cheaper and the same quality.

You mean like you halted all trading on your securities (and disappeared, and deleted all records and disowned all responsibility)?

https://bitcointalk.org/index.php?topic=35775.200

Maybe you should halt trading on BTCT until you figure out what exactly you are selling?

Is it going to be like this? https://bitcointalksearch.org/topic/updated-self-replicating-3d-printer-chain-bitprint-55102

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

if you want a decent 3d printer, i'd recommend http://typeamachines.com/.

as with the fund, i think it's a great idea, but i wouldn't invest until you had a usable website to buy prints where investors get dividends of the profits. for now it just seems like you want to buy a hot new 3d printer, oh and maybe you could use it for something, especially worrisome if you don't have experience in 3d printers.

I'll be honest and say that this seems quite overpriced IMO.  If I wanted to print out a 1 lb object (about 0.5kg), it'd cost me 300 shares.  300 shares @ 0.04 BTC ea = 12 BTC, or about $190.  Worse, I'm giving you an interest free loan for the entire period until I actually want to use my shares for a printout.

OTOH, if I go to Shapeways, I can print things starting at about $10.00, with most models in the neighborhood of $20.00 - $50.00.

Buying shares in this printer doesn't designate actual ownership in anything - it is only an overpriced preorder for 3D printing services down the road.

I think it's a neat idea, but you should offer 3D printing services for BTC rather than giving people a false sense of ownership in a 3D printer.  Or, if you want to give them partial ownership, then create a business plan around making pieces for other people, and offer shareholders some of the profit.

Any comments about the pricing of prints? It seems like basing it directly off of share count exchanged (if share price doesn't become tied to BTC/USD or other larger currency for some other reason) could lead to extremely high prices for printing.

Going directly off of the prices from the site you linked to one kg of plastics of $48USD and a share price at 0.04 BTC you end up making 16% of the cost per USD/BTC. Break even (on materials only, assuming no loss because of how the machine works) happens at $6/BTC, at current prices of $15/BTC you're able to make a 150% profit just from the materials cost. Adding in the processing cost increases this even more, but is reduced some by shipping and labor costs.

tl;dr - should this be priced in USD (or other "normal" currency) and then paid for in shares?

Two questions:

• Do you have experience operating 3D printers?
• Will there be any kind of warranty or insurance for the 3D printer??

If the machine breaks and there are no safety measures in place, investors are going to left out in the cold.

Something to think about.

checking this out.

not up to date on these printers yet but if it can do the following at reasonable prices you will be getting a money printing machine..

http://www.forbes.com/sites/andygreenberg/2013/01/14/gunsmiths-3d-print-high-capacity-ammo-clips-to-thwart-proposed-gun-laws/


lots to catch up on and maybe get some shares before it's sold out xD

As of now, I plan to create a web site where people can order 3d prints in exchange for bitcoins, and the revenue from this will be distributed as dividends. I'm about to register a domain, then once the site is operational I will raise a motion to start selling printouts there.

Until then, owning and exchanging shares are the only way to get a print. The lead time for these printers is eight weeks so the sooner we get it paid for the better!

Sounds interesting.

Will this be generating income, so just holding the shares will yield a dividend, or is the only reason to buy shares if you want to get a printinting?

Will you allow people to order printings by paying with btc, or is the only way to get printings to purchase and turn in shares?

Query error is fixed.  The ask order is up. 

Cheers.

Alright, the contract has been revised, and I'm ready to list the shares. There's a BTC-TC database error preventing me from viewing the issuing account's portfolio, so as soon as Burnside fixes that the shares will be listed.

Cheers,
Garrett

I agree, so I added a similar statement:
If adequate funds to purchase the specified printer are not raised by March 30th 2013, all shares will be bought back for the IPO price, and the security will be delisted.

Actually, don't quote me but I think we could print out RepRap clones with this printer haha!


I like your idea. Will edit the contract accordingly when I get a chance this morning. Shares will be for sale by noon PST!

Thanks to everyone for your interest and feedback

Ofcource not! That's like saying a company would sell a device that can make enough money to return your investment!

You need to have a provision in case you can't sell enough shares to buy the equipment. Something like, "if 9000 shares are not sold by 2/28/13, all shares will be bought back for the IPO price, and the security will be delisted." This will assure people that you aren't going to keep their money forever if the project doesn't get off the ground.

Could you imagine a company going to VCs and saying "we really want to make a printer so versatile and powerful, it can replicate itself entirely, and for 1/10 of what we'll be charging!" I think it'll take a 3d printer company advertising it's able to replicate another company's printer to set that clusterfuck in motion... 

Without proof-of-concept, I'm having trouble imagining what kind of dividends the project could bring in. If an "average" project were to take .5kg of wire, wouldn't that indicate the fee to print is effectively ~$170? At a minimum, it'd cost 200*.04=8BTC, or ~$120, which is effectively just the service fee for you to print something. Will you be charging non-shareholders more for this service? My imagination's fairly limited and I haven't looked through the databases of open-source designs. What could be produced by the Makerbot justifying a $170 price tag?

I'd suggest # of shares owned corresponds to a discount in using the service, up to some maximum. So, if you owned, say, 1k or more shares, you get a 100% discount on the service fee (but not material costs). 500 shares would equal a 50% discount, 100 shares 10% discount, and so on. Alternately, perhaps you should have to pay the company to personally use the makerbot at the same rate you'd charge them. When a shareholder pays 200 shares as a service fee, are those profits distributed to the shareholders as a dividend?