Kickstarter idea (bitcoin price LED ticker)

[ranlo]

Ok, so I guess that's why it hasn't been done yet. It would cost too much, and there wouldn't be enough demand to lower that cost. A few people would buy it, but not enough for any profit.

As Bitcoin takes off more and more, I think that there would be enough demand. The problem is more along the lines of the up-front cost. Someone would need to front the money for thousands of them to offset the high costs, and then basically sit on them while Bitcoin rides the train north.

[General]

Ok, so I guess that's why it hasn't been done yet. It would cost too much, and there wouldn't be enough demand to lower that cost. A few people would buy it, but not enough for any profit.

As Bitcoin takes off more and more, I think that there would be enough demand. The problem is more along the lines of the up-front cost. Someone would need to front the money for thousands of them to offset the high costs, and then basically sit on them while Bitcoin rides the train north.

If the right team was assembled and it was crowd-funded, the up-front costs wouldn't be too outrageous.

[ranlo]

Ok, so I guess that's why it hasn't been done yet. It would cost too much, and there wouldn't be enough demand to lower that cost. A few people would buy it, but not enough for any profit.

As Bitcoin takes off more and more, I think that there would be enough demand. The problem is more along the lines of the up-front cost. Someone would need to front the money for thousands of them to offset the high costs, and then basically sit on them while Bitcoin rides the train north.

If the right team was assembled and it was crowd-funded, the up-front costs wouldn't be too outrageous.

I don't think we're at the right time for crowd funding something like this though... I agree that it'd be viable later on, but right now the demand is too low.

[General]

Ok, so I guess that's why it hasn't been done yet. It would cost too much, and there wouldn't be enough demand to lower that cost. A few people would buy it, but not enough for any profit.

As Bitcoin takes off more and more, I think that there would be enough demand. The problem is more along the lines of the up-front cost. Someone would need to front the money for thousands of them to offset the high costs, and then basically sit on them while Bitcoin rides the train north.

If the right team was assembled and it was crowd-funded, the up-front costs wouldn't be too outrageous.

I don't think we're at the right time for crowd funding something like this though... I agree that it'd be viable later on, but right now the demand is too low.

With a well-developed product that functions properly and looks good, I think $100K USD in sales in the first month isn't far fetched.
That alone would be impressive for a normal new product.  And then when you throw on top that it's a product specific to Bitcoin, that's even more impressive.

I think over 1-2 years a product like this could generate a whack ton of cash and if the demand is no more, discontinue it.

[ranlo]

Ok, so I guess that's why it hasn't been done yet. It would cost too much, and there wouldn't be enough demand to lower that cost. A few people would buy it, but not enough for any profit.

As Bitcoin takes off more and more, I think that there would be enough demand. The problem is more along the lines of the up-front cost. Someone would need to front the money for thousands of them to offset the high costs, and then basically sit on them while Bitcoin rides the train north.

If the right team was assembled and it was crowd-funded, the up-front costs wouldn't be too outrageous.

I don't think we're at the right time for crowd funding something like this though... I agree that it'd be viable later on, but right now the demand is too low.

With a well-developed product that functions properly and looks good, I think $100K USD in sales in the first month isn't far fetched.
That alone would be impressive for a normal new product.  And then when you throw on top that it's a product specific to Bitcoin, that's even more impressive.

I think over 1-2 years a product like this could generate a whack ton of cash and if the demand is no more, discontinue it.

At a sales cost of, say $20 (I think going above this is going to be tough to find a lot of buyers), that's 5000 sales. This is a very niche product and 5000 would represent 2.5% of the community (estimated at 1m people). That's a lot.

I'm not saying it's not doable... I just don't think the numbers make sense right now.

[f3tus]

I'm not saying it's not doable... I just don't think the numbers make sense right now.

I agree. Personally, I'd say the limit would probably be some 1000 sales at first. But that's if the ticker was reasonably priced, 20-30$, which seems impossible.

MSP430 - $10
16x2 LCD - $10

Then assuming a wireless device, a wireless module which is around $20+. Maybe another 5-10$ for the rest of the components...

Maybe someone should start this Kickstarter project anyway, with the price range at 50-60$. Who knows, it might turn profitable. You wouldn't waste your own money anyway...

As for a device connected to the PC via USB or router via RJ45... I wouldn't buy it even if it was $10.

[Bibop]

30$ would hardly pay for the board and chip set let alone the screen, wi-fi technology.. custom made boot loader and software to make it all work correctly. best way i could think of do this is use the core parts of a cellphone and try developing on a android operating system.. but even then the screen would not even be big enough for you to hang it on the wall and see.. i am more the capable of developing this but 30$ would be impossible.

so why not an easy app to alarm in your phone even you not at home?

[f3tus]

so why not an easy app to alarm in your phone even you not at home?

Yeah, there already are several... But having an actual object on the wall/desk that shows you the price 24/7, like a digital clock, is kinda "fancier." And I and many others have WiFi on phones turned off during "sleep hours" to not waste battery life, so I could potentially wake up and the price dropped to $50, lol! Extremely unlikely, but yeah...

[colin012]

Hi,

Could somebody who knows about electronics and programming please make a prototype bitcoin price ticker: http://www.instructables.com/id/Make-a-Bitcoin-Price-Ticker-almost-from-scratch-us/

Preferably wireless, so it can be put on a wall or wherever. Additionally, allow to set a "limit," that when the bitcoin price drops below the limit, trigger an alarm sound.

If this can be done and sold for ~30$, I bet it'd turn into profit. I'd certainly buy it. In the example above, the components alone cost $60, and that's too much...

It wouldn't be that hard to make using Arduino. Only thing is that the components would cost over $30 by them selves. I think $100 would be a more reasonable price.

[General]

Hi,

Could somebody who knows about electronics and programming please make a prototype bitcoin price ticker: http://www.instructables.com/id/Make-a-Bitcoin-Price-Ticker-almost-from-scratch-us/

Preferably wireless, so it can be put on a wall or wherever. Additionally, allow to set a "limit," that when the bitcoin price drops below the limit, trigger an alarm sound.

If this can be done and sold for ~30$, I bet it'd turn into profit. I'd certainly buy it. In the example above, the components alone cost $60, and that's too much...

It wouldn't be that hard to make using Arduino. Only thing is that the components would cost over $30 by them selves. I think $100 would be a more reasonable price.

Agreed.  I'm sure production costs would go down if someone purchased materials in a larger amount.

[colin012]

Hi,

Could somebody who knows about electronics and programming please make a prototype bitcoin price ticker: http://www.instructables.com/id/Make-a-Bitcoin-Price-Ticker-almost-from-scratch-us/

Preferably wireless, so it can be put on a wall or wherever. Additionally, allow to set a "limit," that when the bitcoin price drops below the limit, trigger an alarm sound.

If this can be done and sold for ~30$, I bet it'd turn into profit. I'd certainly buy it. In the example above, the components alone cost $60, and that's too much...

It wouldn't be that hard to make using Arduino. Only thing is that the components would cost over $30 by them selves. I think $100 would be a more reasonable price.

Agreed.  I'm sure production costs would go down if someone purchased materials in a larger amount.

That's true but you need a larger amount of money to do that and I am very broke.

[f3tus]

That's true but you need a larger amount of money to do that and I am very broke.

Hence the Kickstarter campaign for crowdfunding the project...

[ranlo]

I'm not saying it's not doable... I just don't think the numbers make sense right now.

I agree. Personally, I'd say the limit would probably be some 1000 sales at first. But that's if the ticker was reasonably priced, 20-30$, which seems impossible.

MSP430 - $10
16x2 LCD - $10

Then assuming a wireless device, a wireless module which is around $20+. Maybe another 5-10$ for the rest of the components...

Maybe someone should start this Kickstarter project anyway, with the price range at 50-60$. Who knows, it might turn profitable. You wouldn't waste your own money anyway...

As for a device connected to the PC via USB or router via RJ45... I wouldn't buy it even if it was $10.

I think market research would be a better idea. Try to gauge how many people are interested via the forums and Twitter. Along the way, you're bound to find someone able and capable to make it happen, and the community showing interest could push someone to make the move.

[f3tus]

Someone on Reddit uses this:

http://imgur.com/b0eHYfK
http://www.dreamcheeky.com/led-message-board
https://github.com/MorbZ/NodeUsbLed

Though unfortunately must be connected to a computer.

[General]

Someone on Reddit uses this:

http://imgur.com/b0eHYfK
http://www.dreamcheeky.com/led-message-board
https://github.com/MorbZ/NodeUsbLed

Though unfortunately must be connected to a computer.

Paired up with a buddy of mine that's an EE.  Going to talk about costs, labor, etc. and potentially go through with this.

Will provide updates.

[ranlo]

Someone on Reddit uses this:

http://imgur.com/b0eHYfK
http://www.dreamcheeky.com/led-message-board
https://github.com/MorbZ/NodeUsbLed

Though unfortunately must be connected to a computer.

Paired up with a buddy of mine that's an EE.  Going to talk about costs, labor, etc. and potentially go through with this.

Will provide updates.

Thanks for the heads-up! I'd love to hear the costs associated with it. If possible, see if he can break it down into batches as well. ie:

1000 = $50 each
15000 = $30 each
300000 = $10 each

It would help better understand where we are in terms of the cost and how many need to be sold to make it worthwhile.

[f3tus]

Paired up with a buddy of mine that's an EE.  Going to talk about costs, labor, etc. and potentially go through with this.

Will provide updates.

Good to know! Also here is a related Bitcointalk thread: https://bitcointalk.org/index.php?topic=310184.0

[General]

Someone on Reddit uses this:

http://imgur.com/b0eHYfK
http://www.dreamcheeky.com/led-message-board
https://github.com/MorbZ/NodeUsbLed

Though unfortunately must be connected to a computer.

Paired up with a buddy of mine that's an EE.  Going to talk about costs, labor, etc. and potentially go through with this.

Will provide updates.

Thanks for the heads-up! I'd love to hear the costs associated with it. If possible, see if he can break it down into batches as well. ie:

1000 = $50 each
15000 = $30 each
300000 = $10 each

It would help better understand where we are in terms of the cost and how many need to be sold to make it worthwhile.

Right.  I'm a software guy so he'll provide that stuff.

I'll get back with prices it would cost me and prices I would sell for.

[Corporate]

I dont understand why these people are putting such a high valuation for a project like this.
It could be done with simple components for relatively cheap...

The problem is getting the data to the machine. Would BluTooth be an option? I can make an iphone/android app that will allow you to control the device. You could even have it display alt coin prices as well.

[ranlo]

I dont understand why these people are putting such a high valuation for a project like this.
It could be done with simple components for relatively cheap...

The problem is getting the data to the machine. Would BluTooth be an option? I can make an iphone/android app that will allow you to control the device. You could even have it display alt coin prices as well.

The issue is the goal is to keep it to where it doesn't need a device like a phone to handle it. It would just be a ticker that uses like your router and automatically updates or something.