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

[Monster Tent]

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.

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[odolvlobo]

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.

[MPOE-PR]

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.

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.

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!

[danieldaniel]

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?

[Garr255]

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]

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.

[Garr255]

I think this holds the record for fastest security failure! 

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

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

Ahh well, failure is healthy, right?

[Littleshop]

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. 

[burnside]

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. 

[Garr255]

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!

[hanzac]

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.

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.

[420]

did this go anywhere?

[poly]

did this go anywhere?

Nope, CREATE has being cancelled:

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