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

did this go anywhere?

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. 

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

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! 

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

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

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

http://admitmeplease.org/

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.

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.

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..."

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

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

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

http://admitmeplease.org/

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.

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.

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.

Try it sometime.

I think it's a neat idea,

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

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

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

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?

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

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?

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... 

How much of the printer can the printer replicate? .... I have an idea here I think

It's quite interesting, you'd better advertise it in your city or near, I'm sure that many people will need this convenient service. Because 3D printers are still rare, I think. It is quite useful to make tools or decorate home.

How much of the printer can the printer replicate? .... I have an idea here I think

so where's the listing?

Aw, why not?

One print job per month? Sorry, but... lol

Sounds pretty interesting although this seems more like an interest free loan.. where you then pay if you want to use the 3D printer.

I'd suggest giving everyone a free printout (only charge for materials + shipping) once a month or so. [/list]

Certainly a novel IPO.

If people trade in shares for a print-job is the plan to then resell the shares, to use it as a means to gradually buy the printer for yourself or some mix of the two (depending on your cash situation at the time)?

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

Shares are now trading! https://btct.co/security/CREATE[/s]

Hey all,

Let's face it: 3d printers are cool. I've wanted to own one for a while but I just don't have the extra money laying around. Surely some others have this same problem, or maybe you just don't want to deal with the technicalities of the machine, and you just want something that you can say you created. Either way, I am offering a solution via the BTC-TC exchange!

10,000 shares of the asset CREATE will be, apologies for my redundancy, created. I will keep a 10% stake in the project (as I have with my mining company Cognitive) and the remaining 9,000 shares will be sold at 0.04BTC each, which will raise roughly 350 coins. With this capital, one MakerBot Replicator™ 2X along with all of the base colors of ABS plastic wire for the printer will be purchased. Remaining funds will be held for future expenditure, whether it be for repairs, additional wire, etc.

And here's the fun part: At any time, you can trade me 200 shares plus 200 * kg of wire used shares (I suspect this will be under 0.5kg for an average project) in exchange for a 3d printout of your own, mailed to you. This includes the shipping and other fees only if in the USA.

Additionally, something for the future: I am considering creating a web site for this project, where people could purchase our printing power, and profits would be distributed as dividends. This would be brought up in a motion in the coming weeks.

Why are we choosing this printer? Many people including myself believe it is the best available within our reasonable price range. Here are a few advantages it has: http://www.makerbot.com/faq/

As always: comments, questions, and criticism are welcomed.

Cheers,
Garrett