mmihai1978, please go through my recent posts, all the answers to your questions are in there, and to others you have not yet asked.

BlackMarket, the second exchange turned out to be me getting scammed by a user pretending to be from CoinMarket.io and asking for a bounty + test coins to implement. Luckily he only got 100 from me. It's good to have a single exchange for now, it makes Insanity Sundays more viable, and gives them more impact.

Agree completely, DOGE is the scariest thing I've seen in the crypto community, I honestly did not think it would go this far.

I am worried for the major dump, the one which happens when BTC rises again. That event will be more damaging to the crypto space then all of gox's current fiasco.

The one thing I can say, is that I'm glad some good has came of it, a few things were made possible by DOGE, and a few good charitable contributions were made. That element must not be undermined.

Ultimately though, the community backing may turn it in to something very good, perhaps it's already been dumped, and now it just generally does symbolize a good community.

Time will tell that is for sure.

Very sad, several years my junior, shocking.

Sincere condolences to the family.

I have only created one coin, but I have used a pseudonym.

The coin is essentially just the latest LiteCoin with some key changes which change it from a traditional crypto coin, to a trading game. I wanted to see what happened when traders and investors were left to their own devices with no influence from miners. Also to test my own trading skills, and perhaps learn.

I used the pseudonym in case people thought it was simply a terrible idea, it's one thing to discuss an idea with friends, it's another to get behind it and announce it publicly.

I do aim to make some money from it by holding, enough to cover my time doing it since it's an almost full time job for 9 weeks, and if I'm lucky, enough to top up my overall BTC balance.

My overall BTC balance I'm trying to grow large enough to last me 1-2 years of "wage", in order to build something which actually is new and innovative, a modular system which is the best of all crypto projects, and allows the blockchain to be applied to many more computing and storage scenarios.

Also, it's something fun to do for a while, sometimes trading, day job, client projects just gets stale.

additions:
Previously as a trader I have invested in multiple alt-coins, but as a trader to make a profit, not because I thought they were anything great.
If it has a c++ client based on bitcoin nobody can convince me it is anything new or innovative.
I do however recognise that some alts have provided interesting refinements and alternative approaches to key elements which do have some technical value.
Things with white papers, satoshi's paper is golden, Vitaliks ethereum paper is solid work.. these are good.

Feel free to make whatever you like, tell whoever you like, etc. If you feel evangelical about WOLF then evangelise.

Cryptsy thread, if you like.. some of the staff have already bought a small amount of WOLF each, so they're definitely aware.

Subreddit would be good, primarily to discuss results of each week, discuss strategies, or whatever.

People who own 2 BTC, having bought their first under 2 months ago, generally do not have insider knowledge.
The fact they are trying to "get behind" coins which have already been pumped and dumped openly by several thousand percent, also gives the impression of no insider knowledge, or even any ability to do simple sums and research.

I completely agree with you FierceRadish... and BitcoinSteve, people would respect you far more for being honest, rather than trying to convince people you are some magical mystery insider with knowledge of impending doom. It doesn't look good whichever way you try and make it sound.

Yes, it's on the ANN 1B5XfuPZZesYMMLZFhpeHAX9NaRLnEJkDh.
Additionally 5 BTC is in Poloniex already, and 1NE1JaypCmFRnuc8JVzyRXzBEjeHmnCu5S is the change address used so far.
The pot stands at ~42.23 BTC.

If I buy 89991 coins at 0.001, then BTC pot will have 10 BTC left.
If it is 23:58 and I still have 10 BTC, then I will have to buy at whatever the lowest price is until all BTC is gone.

However, do not think I will be the only one with BTC buying WOLF. The supply stops at 12:00, people will trade for 6 hours before I get to the market. After I finish, there is still 10 hours before supply at 0.001 starts again.

Also, I may be done in 5 minutes, or 5 hours, depending on my approach that day. I may start at 18:00, I may start at 22:00. If you see a 10 BTC buy order, it may be another trader trying to lift the price.

Sunday will be fun, I'm genuinely excited.

Correct, I will spend roughly 6 hours trying to acquire as many WOLF coins as possible in a wildly fluctuating market, using every approach I can.


Please reword, I'm not sure I understand.

All of the WOLF I manage to acquire on a sunday, will be destroyed.

Every trade I made during the 18:00-24:00 time period will be posted here, as a screen shot, and as a csv so it can be analysed.

And I hope it doesn't happen, it is exceptionally unlikely. There are roughly 40 holders that I have sold to currently, and no doubt several I don't know who've bought on market. Ideally we'll have slow exponential growth with more holders, less coins, higher per coin value, all growing steadily over multiple weeks. This will make the most level playing field, the healthiest market, and the most interesting game.

Ideally something like this (excuse the quality, I just rushed it out):



n.b. this is in no way a plan, reflective of price, going to happen, all btc value prices are fictional, do not represent the prices on insanity sundays or anything at all, it's wild speculation on what could happen, and what would be better than one entity buying most of the coins - it is however roughly viable

No, each person can buy anything up to all remaining coins in any given week. There is of course hard limit that there are only max 900k coins purchasable over the full 9 weeks. (~858k now)

The only limit is that each weeks pot can only be 100 BTC max (other than week 9), people can still buy more in any week though, it simply means the funds go in to the next pot which is not already full.

Here is the current situation:

Week 1 Pot: 42 BTC+
Week 2-9 Pots: 0

Suppose somebody buys 200 BTC now, then the pots will look like this:

Week 1 Pot: 100 BTC
Week 2 Pot: 100 BTC
Week 3 Pot:  42 BTC
Weeks 4-9 Pot: 0

The one special case is the pot on week 9. Consider a scenario where 50 BTC is bought this week, 75 the next, and 100 in all subsequent weeks, there will still be (50+25) 75 BTC worth of WOLF available during that time, which if bought would make week 9 a jackpot sized pot of 175 BTC.

Hope that explains. I also hope that by circa week 4-6 all the pots are full, and all wolf is bought, that will make for a very interesting months trading.

Why do you imagine there are actually 500,000 bitcoins?
1) Many of the "coin" (gox balances apparently backed by bitcoins) will be being traded backwards and forwards to increase overall balance of gox-USD or gox-BTC)
2) Many of the coins may not have any real bitcoin behind them.

For months gox could have been creating fake balances on accounts, trading, taking out BTC, and leaving people with fake BTC or USD balances backed by nothing.

People are gambling with balances which may or may not symbolize real currency. They either accept they have nothing, or try and increase one of their balances in the hope they do correspond to real currency.
They are essentially gambling on whether GOX will live or die.

Please see https://bitcointalk.org/index.php?topic=471166.msg5245164#msg5245164 regarding your first two questions ( if that doesn't answer, check my post history it's been covered a few times )

Sorry, I'd really love to be able to accommodate everybody at a time when they are all around including you of course, however there's always going to be somebody who isn't available at a given time. It's just a case of pick a time and stick to it each week. Sunday 18:00-23:59 GMT it is. Remember the distribution from me will be stopped from Sunday 12:00 to Monday 10:00, so for 20 hours the market should be quite.. interesting.

BlackMarket, thanks for the alternative logo, I'll add it to the list of them on the ANN.

no difference if you are holding log term, big difference if you are in it to trade and try and grow your balances each week (especially sunday).


Correct. It is additive, so if you wan't to send 1000 WOLF to somebody then the tx fee will be 100 WOLF, wallet balance required for the transaction would have to be 1100 or more.


no idea what will happen, or if there will be only one person, or if there will be an "end", price could stabilize, keep growing, shrink, no idea (same question applies to every coin).


Correct


my own holdings:
I had 10,000 (pre-tax), I sent 9090 to myself, destroying 909.
I gave 1000 to "Crypt X" for the windows-qt destroying 100
I gave 1000 to poloniex destroying 100
I was scammed out of 100 by a user who claimed to be from coinmarket.io, destroying 10
I sent 40 to the wrong address, so took that hit destroying 4
left: 6736 ( 9090-(2140*1.1) )
I then moved my balance to another wallet on my pc last night, destroying ~613 coins in the process.
I now have 6123 WOLF, 5566 of which is spendable.
So I have nearer 0.55% of the coins, of which I'm sure I'll need to offer some more for bounties, and I've destroyed 2300+ of my own coins.

"numerous strategies" - my goal is to acquire and destroy as much WOLF as possible, multiple players will be on the market on sunday, many with additional BTC hoping to buy up cheap WOLF and sell it for more, last night I noticed
24hr volume for day one on poloniex was already 26+ BTC with an average price of 0.00144 (44% higher). So one must assume that far more than just the "btc pot" I'm using will be being traded on sunday for WOLF. I am an ethical man and well versed crypto trader. I will be posting my full trading history for the night, you will be able to see every move I made after the trading session has finished. I presume the trading will be intense.

If I do a single big bump, the most likely scenario is that another trader buys up the book first, placing their order at the top to be bought to maximize that single traders profit, and nobody else's. Thus I have to be more thoughtful in order to be fair to everyone, and to achieve my goal of destroying as much wolf as possible. I cannot plan or pre announce my strategies more than that, else it will be abused. The key thing to remember is that I'll be using every trick I know to acquire as much WOLF as possible.

The design of this means that anybody who bought from me and wants out for a fair profit of should easily be able to achieve ~50%+ I fully expect some to achieve less, and many to jackpot at much higher percentages with a percentage of their WOLF balance. Ultimately I hope to destroy 25-50% of the coins sold each week, to have a fun (insane) market for most of each sunday, to have more WOLF holders at the end of each sunday, for many of you to have made a profit, and of course to have exponentially more wolf sold the following week with a bigger pot for the next sunday(s).

Block Explorer: back online, I forgot to nohup it yesterday so it runs in the background / doesn't turn off when I close a connection to dedicated server.

online from now, catching up on PMs and sending WOLF

ANN updated with details on sundays, snip follows:

Insanity Sunday

• Every Sunday, starting 23rd Feb
• All orders for InsanityCoin from dev at 0.001 will be halted at 12:00 UTC, from that point on no new WOLF will enter the market
• Between 18:00 and 23:59 UTC dev will be using the BTC pot (max 100) on market to acquire as much WOLF as possible using numerous strategies.
• 01:00 UTC Monday, results will be posted.
• 10:00 UTC Monday, market to buy WOLF from dev at 0.001 BTC will re-open
• All WOLF acquired by dev on sunday will be sent between two addresses until considered destroyed (less than 1 WOLF remains)

Pot stands at 35 BTC+ currently.

Consider me offline from here for new purchases until 10:00 UTC tomorrow.

I am unavailable 00:00 to 10:00 each day, roughly.

If one is required I can make one easily.

However google InsanityCoin and you get this thread as #1, with full discussion and honest feedback from buyers. What more could a website offer than this?

As often said. Bitcointalk, or reddit/r/whatever-coin does not represent the entire crypto trading community. Some people may not know what they are buying, or care.

Also, there are many people who with many strategies, a common strategy is to buy a coin at whatever base price is, then sit on it for x months or years. Many crypto traders are playing with free money they made from trading, and can afford any loss incurred, especially when the odds of profit are in their favour, given the bigger ecosystem and the point that crypto is a young growing technology sector. 0.001 may be 1000x lower than the price in a year.

Much of this is a learning / analytical exercise, to see the different approaches of people.

Additionally, there are of course gamblers, btc-whales, and manipulators to factor in at any point. The biggest WOLF whale currently has 9k. We are only hours in to this though.. somebody could place a 300 BTC order tomorrow.

Much to consider.

Finally, it's called InsanityCoin with InsanityWolf MEME, and a novel trading game with skilled players - what do you expect!?

I offered for you to send back the coins (minus fees of 10%+10%) ~2454.5 WOLF and I'd give you your 3 BTC back.

I think the main point is, whatever you do, you can't make a loss on these coins if you sell them at any point in the next 9 weeks on market. The order will definitely fill at 5,10, more %. Unless that is every single buyer puts up every single coin purchased at +x%, then and only then, won't it fill.

Honestly, I'd suggest you slow down, get a strategy and implement it - reacting to feelings and minor market moves is a quick way to loose money and make rash decisions you regret later. Every person holding this coin is a trader or investor, likely looking to get all the weak hands out of the game as quickly as possible.

Okay. It would be no loss though, 897k coins worth 897 is the same as 900k coins worth 900. Happy trading.

Pineapples, welcome and congrats