This is a useful service and I wish you well. Some constructive feedback, the website doesn't say what it is, how it works, how payment works, if there's escrow, what you get access to by registering, how to post a project, etc etc.. all that information would greatly help your cause  |
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nice little service - things like this really help the crypto ecosystem, thanks!
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This works the same way as BitAssets in Bitshares X.
Under Bitshares X, users can create BitUSD, BitGold (BitAssets) backed by BTS (the navtive internal currency) in the same way OP described.
Good to know, I'll check that out Uncle. |
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Fuck it. All in.
A solid investment plan. No dumber than Labcoin, I guess.  worst case he get's exactly his BTC back.. so it's a no lose during the first 9 weeks. If you buy 1000 for 1 BTC, I'll happily return the 1 BTC for the transferable coins (~909) at any point whilst there is money in the pot. |
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Basically this is the IPO of 900,000 BTC which are supposed to be given back to the owners of the InsanityCoin. The idea is to raise the market cap by injecting the BTC raised during the IPO back to the InsanityCoin. So, your coins invested will be spread to the other coin owners and you get less then you spent???
It is a bit confusing. Doesn't destroying coins actually destroys the value and so it decreases the market cap? Therefore you actually will not increase the price of the remaining coins?
Quite the opposite. If all coins are bought (900BTC), the transferred once (say to an exchange), then there will be 818,181 coins left. Worth 900 BTC minimum, that's if every coin is sold back at (market cap / supply) price, and nobody buys any coins on market, and no coin is transferred more than once, and if no coins are put up for sale at all in a 9 week period. If any one of those things does happen, the price and market cap will go up. Ultimately, every trader has a different strategy, some sell on market immediately for 25% more than they bought, some may be more aggressive and sell 10% for 400% more than they paid. Some may sell off market and destroy more coins by transferring ownership. Some may hold for 4 weeks, or 12 weeks, or a year. The biggest gamble, is how many to put to market, on which week, to make the most profit.. or whether to hold and let it rise trying to make 1000% of percent. Usually coins have a supply, and if supply outweighs demand, price goes down. InsanityCoin is different because the money supply always reduces, forcing the price of each coin upwards, while ever people buy and transfer it, the value of each coin can only go up. Everything is good for this coin, including people not buying it, because any coins not bought over the 9 weeks are destroyed. |
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The big difference between this and ripple, is that it doesn't require the pre-creation of any currency units, or even an independent currency. Credit is created on par with a lender giving away bitcoin, and "anti-credit" (essentially debt) is created in the same action for the party that takes that bitcoin. Annihilation capitalizes on the fact that two parties may agree on the current fair value of a bitcoin but disagree as to whether it is over or undervalued.
I follow, and stand corrected. Also unlike ripple, it would not be run by any company or foundation. Fortunately, there is no "Annihilation Exchange Inc."
That is certainly a strength. How would balances be handled, I'm thinking that to take out a 1 BTC order you would have to have more than 1 BTC, enough to cover any loss.. let's say 2 BTC. What would "$400 credit" entail, is this an IOU, who or what backs it, in what way is it a store of value? (I think I am missing an abstraction) Generally I feel the second flow chart would be clearer if both sides had a fixed $350 value and a change in btc value instead. |
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This is already codified as trading of IOUs in ripple.
However, I like the way you have explained it, and can't see any technical difficulty in creating this as a distinct module / layer.
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where does the money come from to buy up all the sell orders?
from people purchasing the coins, first paragraph of the ann |
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Yes the concept does seem different and perhaps not to bad, however how can you consider launching anything without a windows qt. You do realise windows users for the most part have no idea about compiling their own qt from source ?
Yes, exactly - windows-qt will be added in the next day or two, it was a concious decision not to add it yet. Would like to see several nodes running first, and an exchange confirming they will add the coin. |
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i dont get it
I think the point of this coin is to deal with dump issues by adding a large transaction fee and then destroying those coins, so as coins are dumped 10% in demand by default is added. That's what I'm getting from the post anyway. Sounds interesting. Pretty much yes - you'd have to be mad to dump it, as over the next 9 weeks all BTC will be used to buy back as much coin as possible to be destroyed. And every transaction destroys 10% of the coins sent. So the money supply always reduces, and the price always goes up. |
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senseless
that's the idea i dont get it
All coins start with a value of 0.001, coins are destroyed on every transaction, forcing the value of each coin up. In addition all coins available on market are purchased each week, and destroyed, further increasing the value of each coin, increasing market cap in big bumps, and reducing the money supply. |
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InsanityCoinDemocratic & Strong Coin for Investors and Traderswebsite: http://insanitycoin.com/ | twitter updates: https://twitter.com/CoinInsanity | https://kiwiirc.com/client/irc.freenode.net/#insanitycoin | https://poloniex.com/exchange/btc_wolfDevelopment on Project WOLF has begun, see http://insanitycoin.com for details.WOLF is now open to mine with a block reward, transaction fees are also reduced to 0.02 (from 10%), please update to the new windows-qtPreviously WOLF had a gamified distribution and coin destruction phase, generating over 1000 BTC in trading volume each week, and more than 6000 BTC volume over a 6 week period. The WOLF supply was depleted from 1,000,000 coins to ~ 330k via aggressive coin destruction and 10% destructive transaction fees. Of the coins in circulation, roughly 80k are in active circulation, with the rest either destroyed or held by long term investors. Following a community meeting on 2014-04-06 the proposed phase two was accepted and implemented. WOLF has entered Phase Two - a coordinated 400 BTC+ market push to lift the price by 65% minimum and stabilize it at 0.0015 or higher.The lift incorporates huge rolling BTC buy walls, starting at 9.2 BTC, growing quickly to 5 buy orders totalling 49 BTC, and then incrementally growing to 75 BTC. Additionally 9-15 BTC is injected on to the market (used to buy up sell orders) as the buy walls increase. Model- The remaining WOLF supply has been split in to 33 batches of 10,000 WOLF. Creating 33 distinct BTC pots.
- The price of each batch is incremented by 0.00002, such that the first is available at 0.00092, the second 0.00094, and so forth.
- As each batch is sold, a buy wall is created using the BTC on poloniex at 0.00001 less than the buy price, so walls are placed at 0.00091, 0.00093, and so forth.
- A stack of 5 buy walls will be maintained on the market, as a new buy order is placed at the top, the lowest priced buy order is removed, and the BTC from it is used to buy up all the lowest sell orders.
- All WOLF acquired by the buy walls and buy orders is destroyed, reducing the amount of WOLF in circulation.
see the table below for a full breakdown of the model.Objectives- smoothly transition from the gamified distribution phase to the long term model
- create a strong market presence with substantial buy support for WOLF
- enable 24/7 trading of WOLF
- lift the value of WOLF in a sustained manner
- support the flow of WOLF from weak hands to strong hands without damaging the market value
- enable traditional trading, such that all on market and supply buyers/holders benefit, and allow additional trading strategies
- incorporate optimal coin acquisition and destruction
- mitigate attacks from self interested short term whales
Notes- Market and Supply are both active 24 hours a day
- WOLF Batches are available consecutively, with no time limit, the supply depletes as fast as it is bought
- BTC buy walls will maintain from 49 BTC growing to 74 BTC
- Those leaving WOLF on the way up profit, but take a financial hit to get back on board as the supply price will be higher than their exit price
- Creates an effective minimum market spread of 3000 satoshis, with supply price between.
Why buy from the supply?Supply purchases effectively triple the weight of your purchase, even if at a particular time it’s marginally more expensive than on market, because: - The BTC you use to purchase becomes a buy wall
- An equivalent amount of BTC is injected into the market to buy the orders you would have bought
- The WOLF you would buy on market is bought anyway, and further it’s destroyed, so you know it can’t come back to be sold again.
Coin Supply Status and ChartCurrent Batch: 1, available ~6000.
Batch | WOLF
Available | Supply
Price | BTC
Generated | Buy Wall
Placed At | BTC on
Order Book | Buy Order
Placed (BTC) | | 1 | 10000 | 0.00092 | 9.2 | 0.00091 | 9.2 | | | 2 | 10000 | 0.00094 | 9.4 | 0.00093 | 18.6 | | | 3 | 10000 | 0.00096 | 9.6 | 0.00095 | 28.2 | | | 4 | 10000 | 0.00098 | 9.8 | 0.00097 | 38 | | | 5 | 10000 | 0.00100 | 10 | 0.00099 | 48 | | | 6 | 10000 | 0.00102 | 10.2 | 0.00101 | 49 | 9.2 | | 7 | 10000 | 0.00104 | 10.4 | 0.00103 | 50 | 9.4 | | 8 | 10000 | 0.00106 | 10.6 | 0.00105 | 51 | 9.6 | | 9 | 10000 | 0.00108 | 10.8 | 0.00107 | 52 | 9.8 | | 10 | 10000 | 0.00110 | 11 | 0.00109 | 53 | 10 | | 11 | 10000 | 0.00112 | 11.2 | 0.00111 | 54 | 10.2 | | 12 | 10000 | 0.00114 | 11.4 | 0.00113 | 55 | 10.4 | | 13 | 10000 | 0.00116 | 11.6 | 0.00115 | 56 | 10.6 | | 14 | 10000 | 0.00118 | 11.8 | 0.00117 | 57 | 10.8 | | 15 | 10000 | 0.00120 | 12 | 0.00119 | 58 | 11 | | 16 | 10000 | 0.00122 | 12.2 | 0.00121 | 59 | 11.2 | | 17 | 10000 | 0.00124 | 12.4 | 0.00123 | 60 | 11.4 | | 18 | 10000 | 0.00126 | 12.6 | 0.00125 | 61 | 11.6 | | 19 | 10000 | 0.00128 | 12.8 | 0.00127 | 62 | 11.8 | | 20 | 10000 | 0.00130 | 13 | 0.00129 | 63 | 12 | | 21 | 10000 | 0.00132 | 13.2 | 0.00131 | 64 | 12.2 | | 22 | 10000 | 0.00134 | 13.4 | 0.00133 | 65 | 12.4 | | 23 | 10000 | 0.00136 | 13.6 | 0.00135 | 66 | 12.6 | | 24 | 10000 | 0.00138 | 13.8 | 0.00137 | 67 | 12.8 | | 25 | 10000 | 0.00140 | 14 | 0.00139 | 68 | 13 | | 26 | 10000 | 0.00142 | 14.2 | 0.00141 | 69 | 13.2 | | 27 | 10000 | 0.00144 | 14.4 | 0.00143 | 70 | 13.4 | | 28 | 10000 | 0.00146 | 14.6 | 0.00145 | 71 | 13.6 | | 29 | 10000 | 0.00148 | 14.8 | 0.00147 | 72 | 13.8 | | 30 | 10000 | 0.00150 | 15 | 0.00149 | 73 | 14 | | 31 | 10000 | 0.00150 | 15 | 0.00150 | 73.8 | 14.2 | | 32 | 10000 | 0.00150 | 15 | 0.00150 | 74.4 | 14.4 | | 33 | 10000 | 0.00150 | 15 | 0.00150 | 74.8 | 14.6 |
DetailsFuture- WOLF switches to Phase Two on 2014-04-07
- WOLF switches to a low block reward but valuable mined coin on 2014-04-27
- Removal of percentage based fee and replace with a traditional fixed 0.002 WOLF (please discuss) fee on 2014-04-27[/url]
- New long term clients released this week.
- Feature and integration requests should be placed now.
OrderingThe master BTC Pot address is 15txQGhLmN133e2qBwGyXzKtYhHTchEy4g, pm the developer to order and check the current price, or to request a unique address for your transaction. To calculate how much WOLF you will recieve: BTC_Amount/WOLF_Price e.g. 0.5 BTC/0.00094 = 531.91489361 WOLF for 0.5 BTC. WOLF Orders will be processed every couple of hours each day, and buy walls on poloniex updated to represent the current state. Developer Status: online
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Bitcoin just celebrated it's 5th birthday.
M-Pesa has been going for 12 years and is fronted by major global corporations.. do you use it in physical shops where you live?
Visa was launched in 1958, it took over a decade to become used by some people, another decade or two to become mainstream.
Bitcoin is in early days, and it's already quite pervasive for such a young technology.
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scientific input:
not on the macroeconomic level as a currency
but on the mesoeconomic and microeconomic level on the INVENTION of the blockchain which is (practically) solving the byzantine general problem. Building a decentralized system which is not relying on trust is basically nothing but game changer in ecomic theory.
did somebody just take the time to point out that it's the blockchain which is the game changer, not the currency!? so glad somebody noticed, however please notice that it doesn't just change economic theory, it also has deep implications for distributed databases and systems all over the world, sad to say but only really vitalik (ethereum) has fully understood this and taken the next step. also we cannot underestimate the strength of autonomous corporations which blockchain enables, this itself may be an even bigger economic game changer. |
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but all version are with no exe, only "c" program
good point.. they used to be their, try and find a mirror - if all else fails let me know and I'll upload 3.6.6-1-windows |
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6500 (i own slush's pool).
even if i HAD a GPU i wouldn't mine at Slush's pool.
what u want to do is go solo. then at least u have the guts and the glory (25 BTC potential prize)
foolish, sad, and disrespectful... slush has done more for the community than ten of you (pool, stratum, trezor etc). |
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use an older version of cgminer, GPU support was dropped after 3.7.2 |
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No, what pisses me off, aside from the obnoxious Dragon's Den/Shark Tank swagger, is that you're trying to solicit free professional services with vague and unsubstantiated claims of previous experience and success. You're an anonymous noob, and you come in here trying to pretend you're a high rolling "mastermind" in the world of "online marketing". You are not. Competent, experienced marketing professionals would never solicit for free labor on an anarchic and childish altcoins subforum like this one.
+1 |
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Thanks for the kind words guys. The pizza thing was a lot more popular than I thought so I made good on as many trades as I could. Other than a little bit of single digit change, I spent everything I mined. As you all know, the difficulty rises to adjust to hashing power, so eventually the mining wasn't worth it for me. GPU mining BTC in 2010!??
As far as I know I was the first to release a GPU miner. I contributed the hash meter back then too, that's what the screen shot was all about. I used to maintain the Mac OS builds but others have taken that up now. It was a fun project and I learned all about OpenCL. I can't find the thread on the forum anymore but you can find it in my web dir ( http://eclipse.heliacal.net/~solar/bitcoin/sha256.cl ). That was back in May 2010. Maybe there were other people who were doing it in private too, though. For a long time I had been looking for a reason to learn how to write a shader, and this was a great project for it. The way I looked at it, I was helping out with an open source project, and I was making pizza with my code. You guys will laugh now but I mined everything with an nvidia 9800 GTX+ on Mac OS (hackintosh, another scene I used to help out in). I ended up getting 2 AMD Radeon 5970s with the bitcoins I was mining, but at the time, the OpenCL libraries from AMD and nvidia both were really buggy and I never got it to work right on more than one GPU. The same code that would work on the nvidia on linux wouldn't work on windows and vice versa. I was trying to make a generic OpenCL miner that everyone could run on all 3 platforms, and I spent months tweaking different kernels for each GPU, but I was also working two jobs at the time and so I never finished it. I ended up just leaving bitcoin on the back burner for a few years, then it exploded and people started asking me about the pizza trades. Every time the value goes up on exchanges, people email me asking me to comment on it, but really there isn't much more to tell than what I explained here. This is the old GPU mining release I made for Mac OS, probably won't work anymore though: http://eclipse.heliacal.net/~solar/bitcoin/Bitcoin-MacOSX-Intel-svn-75-opencl-2010-05-10.dmggreat to see you back lazlo, and thanks from all those who wouldn't/couldn't or don't know to say it do you remember who introduced you to bitcoin / how did you hear about it? |
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