Please read https://bitcointalk.org/index.php?topic=471166.msg5342870#msg5342870 and the Ann.

Ultra short is that 0.001 supply is limited, once it's gone it's gone. Additionally once a week the supply is cut for a day, Insanity Sunday, where all BTC from purchases goes back in to market, see the results of yesterday's here: https://bitcointalk.org/index.php?topic=471166.msg5323853#msg5323853

The after 9 weeks model is something that remains to be seen, but it could easily move to a different core model where there was a tiny block reward, or tx fee cut or increase, or at week 5 we could decide as a community to start raising supply cost, or wipe out 25% of the supply, or, or.. for now let's keep the current set up and see what happens.

Somebody asked at last!

Let us ignore the market cap for now, and move on to supply vs demand. WOLF is a social experiment dressed as a trading game and wrapped in a crypto currency, which supposes over a wider time frame that:

• a) over time demand will rise naturally (organic social networking between traders and investors)
• b) over time supply will reduce (via 10% tx fees, and weekly coin destruction)

and over a shorter per week time frame that:

• short term greed for bitcoin will serve to grow a+b exponentially
• a weekly known injection of bitcoin will reinforce the base price and grow overall trust in WOLF

WOLF will reinforce these suggestions if all supply coins from me are sold out before the end of the 9 week game. If that does happen then Market Cap does become an important measurement, and should grow week in week out from when the coin supply dries out to the end of the 9 weeks. In this situation if the price after Insanity Sunday stabilizes x% higher than where it was at the start, where x is the percentage of coin supply destroyed then cap grows. (Simple maths: Week 7, 650k coins in circulation, 35k buy back (5%), price would have to settle more than 5% higher after a known 100 BTC injection and additional market buyers with BTC).

In the process I hope that people just enjoy trading with other traders in an environment with no surprises or bots (hidden coin piles, miners dumping, scamming, artificial inflation, no demand etc), learn some trading strategies, learn how to react in the presence of a whale so they aren't so manipulated, and ultimately just have some fun.

If it helps any, after week 1 there was 79.9k WOLF bought, 43.9k destroyed, leaving 35.7k in circulation. 150 BTC went in through the pot and market traders (22+134), leaving an established base price of 0.001 with natural buy support on market, and an average coin "value" of 0.00197 BTC per coin (70/35600), even though supply is still 0.001 from me, and the average trade profit was 80% from players last week. Quite strange and interesting.

Hope that helps a little.

thanks, pm sent - hosting appreciated but unneeded, have a securely and neutrally located  i7-3770/32 GB/2x3TB+SSD dedicated linux box for this project

cheers, fyi all coins acquired on Insanity Sunday have now been destroyed - results post updated with links etc

please test http://www.mediafire.com/download/fm8h48rkp38ad12/insanitycoin-qt.zip first and once I've had confirmation it doesn't error on close for people I'll update the links - mac wallet being tested now.

That's the amount which has not been destroyed yet (<4k), because I can't withdraw until Poloniex update my account to allow withdraws higher than 5000 WOLF. As soon as tristan makes the change I'll update the results post with the tx-id of the final percentage being destroyed The majority ~40k has already been destroyed, see the results thread listed below. all destroyed.

Week 1 results: https://bitcointalk.org/index.php?topic=471166.msg5323853#msg5323853

reminder: I need windows 7 and mac testers for the new qt clients

WOLF supply open again.

Total to Destroy: 43940.88047998
destroyed: 363.36363636
destroyed: 39946.5277091
Remaining: 3630.98913454 (will update)

You can see the money supply decreasing here, and again here

Poloniex has a cap on 5000 WOLF withdraw per day per account which means I cannot withdraw the full balance yet, I have asked him to remove this cap from my account, which he is doing, and I'll update later today with the final transaction id's showing the destruction of the last ~3630.

week two begins

Hello Wolves,

First a big thank you to everybody who took part in the first Insanity Sunday, it was very interesting. I'd also like to apologise for being a bit later to the computer today, was feeling a bit worn and sleep deprived with ill children around, so decided to take an extra couple of hours to start the week feeling a bit better!

1) I require a couple of windows 7 & mac OS insanitycoin-qt testers, please pm me for links to the new qt's and details.

2) Considering the amount of interest in WOLF, I'm going to start developing support resources for the community, starting with a website to provide full details on the insanity project, clients, statistics, pot totals, weekly results, and hopefully an automated supply.

3) The 9 week model may need some tweaks to ensure it works optimally in the long term, if I have any tweaks I'd like to propose I'll let you all know over the coming weeks and request feedback/votes, for now every continues as planned.

Finally, I'll be opening up the WOLF supply again shortly, and will update the Purchase section of the Ann with a new pot address for this week.

Regards to you all at the start of week two.

you should read more before shouting random accusations, it's unfair - although I understand sensitivity after stackcoin scenario of course

man has 1000 apples (all the apples in the world!)
.. sells apples for $1 each
.. buys back as many apples as he can with proceeds
.. throws apples away
.. less apples, apples now more valuable
.. some people sell man apples back for small profit saying apples not valuable long time
.. some people say no man you not have my apples, I want!
.. some people buy apples from people for small profit, so they can sell man for more profit.
.. big market for apples grows
.. everybody wants apples!
.. man keep buying and throwing away apples
.. but man only buy $100 of apples each week
.. nobody can grow apples

ahhhhhhh apples, give us apples, no more apples, man buying apples next week with $100! we make apples more big price, you buy a bit of my apple for $1.

LOL - better if you consider it as an adult though and ready the ann + questions etc, 5yo's not have $$$ for expensive apples

results https://bitcointalk.org/index.php?topic=471166.msg5323853#msg5323853

Results Posted: https://bitcointalk.org/index.php?topic=471166.msg5323853#msg5323853

Yes, you are missing multiple factors detailed below:
Significantly it doesn't factor in 9/10/24 week holders, or those trying to exponentially grow their wolf holdings, it only factors in the weekly market traders looking for quick bitcoin.
https://bitcointalk.org/index.php?topic=471166.msg5245164#msg5245164
https://bitcointalk.org/index.php?topic=471166.msg5267129#msg5267129

Ultimately if everybody is trying to grab BTC quickly then your statement is partially validated, but even based on one week results the opposite appears to be happening, and those who are grabbing BTC are back for more quickly, depleting the supply faster, forcing benefit for the longer holders. Every sell order is a sensible buy order, from somebody who feels the price will go higher, and often who is willing to put in far more BTC than the seller is trying to get out as profit.

It's very interesting, and we may yet see a sub 0.001 price on market, which strangely would force the opposite to happen longer term, it would speed the process and bring new money grabbing discounted wolf.

My personal theory is that low profit greed and weak hands will create big profits longer term for wolf holders, and that it all pivots on how quickly the money supply is depleted. If you knew you could not get any more wolf tomorrow for 0.001, and that 100 BTC was being pumped in for the next few weeks, along with usual traders and investors, and a 10% tx fee, and massive coin destruction each week, would you sell?

Time will tell though!

There is no ideal time, this one covers Europe+Americas+Africas, with friends who are early risers and late sleepers in australia+china. So unless anybody can propose a better time set taking everyone in to account worldwide, we may be best to stick to this.

Historically (having worked online for years) this is the time I find most of my international contacts online with various stages of tiredness.

no, every week I do something different, and I won't always start at 18:00, may leave it till last second, or, or, or

There are 3 sales. That's every trade I did this week.

Insanity Sunday - Week 1 Results

Summary

• Total Pot: 79.52639466 BTC
• Total Acquired: 43940.88047998 WOLF
• Percentage Acquired Back: 55.25% of WOLF sold.
• Average Price: 80.98% over base (0.001809845 BTC)
• Maximum Price: 125% over base (0.00225 BTC)
• Minimum Price: 45% over base (0.00145 BTC)
• Market Activity: ~$85,000 USD (134 BTC @ $630)
• Peak Market Cap: $1,273,100 USD (((987947.27558637 /11)*10)*0.00225)*630
• Trade List: http://5.9.111.71/results/w1/trades.csv

Developer Feedback:

I honestly expected to be getting 25%-30% back with an average price of 0.003 / max 0.005 today. I was pleasantly surprised I managed significantly better.

I was amazed that people kept making each others bids cheaper. I thought most would have realised that if one person decides to go lower the best thing you can do is go higher, then they are left by themselves with no support.  I made this clear through the week, yet still everybody went lower even with additional BTC in the pre-pump, and a known pot of almost 80 BTC coming in minutes or hours.

For wolf and the pack long term, the most efficient model is "free wolf", buy 100, sell 50 for original investment = 50 free wolf, this forces exponential purchase of wolf, the faster it runs out, the faster it's a normal market with guaranteed bumps and no fixed supply available. This also maximises profit long term for the individual.
Mid way is as above but with reinvestment in to wolf, driving your overall purchase price down and wolf balance up ( 100+( 50*8 ) = 500 WOLF for 0.1 BTC with a value of 0.5 BTC, 400% profit over base, real profit probably xxxx%).
Short term and the lowest profit, but most guaranteed on a per week basis is the individual strategy sell everything each week for btc profit. This still benefits the pack as it's destroyed, lowering the coins in circulation making each single wolf worth more, but does reduce every bodies profit overall, most significantly the one with this individual strategy.

This is the only week I'll give feedback, various strategies have been discussed in my previous posts.

Other Updates

• new stable windows-qt client ready for tomorrow (thanks pompobit!)
• new stable mac client ready for tomorrow (thanks the samson)

Coin Destruction
Total to Destroy: 43940.88047998
destroyed: 363.36363636
destroyed: 39946.5277091
destroyed: 3630.98913454

You can see the money supply decreasing here, here, and again here


I'd like to thank everybody who took part in the first Insanity Sunday. Coin Supply opens at 10:00 UTC tomorrow for week two.

honestly, it's done.

done.

preparing results, trade history, and a general summary now.

That address is the account address at poloniex, the original btc is in their wallet now. If somebody withdraws from their account at poloniex, odds are some of it will come from that transaction since it's so big. BTC leaving it has nothing to do with us wolves (although it's probably one of you withdrawing profit).

ps: not finished, just an update on total so far. I expected to get far less and have to pay far more, had always assumed I'd be buying back roughly 25%, but seems you all wanted less profit (or less free wolf)