BTC is a bit off topic, but it's a huge part of our ecosystem.. so I'll throw in my own opinion (I say the word I as example, I don't work like this):

If I wanted to acquire something I deemed useful, I'd prefer to buy it cheaper than more expensive, and if I could easily push the price down to acquire it, I would.
Similarly if I viewed something as a threat, and I could make it worth less and make it less threatening to my own concerns, I would too.

My own opinion with BTC is that one of those two things is happening, probably both together - a land grab. That which made btc hit it's heights has not changed, the only changes are that it's more popular and more main stream than before. To me the scary bit is the subsequent rise, not the dump.

Opinion of course. Only time will tell.

If it helps any, and since I'm a kind of admin / overseer - you can all "pledge" an mount in pm and I'll reply later with a total, so we can see what support is provisionally there without anybody just blindly committing.

PM me with an amount and price you'll get on board at, I'll note it all up and we can go from there.

Hopefully that helps.

if you didn't see my previous post and are confused about wolf, please read.

The coin has a single fixed supply, coins are purchased from the supply, all btc raised from selling the coin goes in to the orderbook at poloniex to buy the sell orders placed. All coins bought back are destroyed, thus depleting the amount in circulation. There were 1,000,000 coins originally.

During the first phase, batches of 100,000 WOLF were sold from the supply at 0.001 raising 100 BTC at a time, that 100 BTC was injected in to the market every sunday to buy up as many sell orders as possible, raising the price and acquiring back as many of the coins as possible for destruction. We did this for 6 weeks, with over 1000 BTC of trading volume each week, and resulting in ~75% buyback and destruction.

We are now on the second phase, where batches of 10,000 WOLF (33 batches in total) are sold from the supply, every time a batch is sold the BTC is placed as a buy wall to solidify the market. Each batch incrementally raises the price of the supply and the buy walls by 0.00002.

This second phase process lifts the price by circa 65% minimum, creates solid buy support in walls totalling 50 btc lifting to 75 btc at the end, and again destroys all WOLF bought back during the process.

At the end of this phase, there should be a minimum price of 0.0015 on market, with no supply left, ~250k coins in circulation, and a large 75 btc buy wall to support the price. At this point the coin moves to the mining phase, which will mint a rather meagre 20k WOLF per annum.

In short, WOLF is a fair democratic coin with no surprises, and really phase two is what every trader / investor hopes for when they join a "pump" or buy a coin hoping the coin will rise. Every purchase strengthens the coin and lifts the price, all dumps are removed from circulation and destroyed so they can't come back to haunt later, and all btc from every coin sold via the supply goes straight back in to reinforce the price on the market.

For this to work all it takes is for people to buy the coin, spread the word/joy, and for roughly 50% of those buying to believe in it, while ever that is the case the coin will rise in value and become rarer. Once this phase is over the same holds, any upward trends will be reinforced with a 75 btc buy wall in addition to the normal traders buy orders.

extra note to those considering buying on market
Do remember that buying on market, even if the price is lower, is false logic. When you buy on the market your BTC is taken out of the economy and you hold WOLF without the btc to back it up. When you buy from the supply, the BTC reinforces the price on market, and the wolf for sale on market gets swallowed up and removed from the economy (destroyed), additionally it encourages others to buy, which exponentially increases the price, volume, supply depletion, and makes your own holdings far more valuable and secure.

A buy from the supply creates a btc buy wall, and a btc buy order, and a wolf coin destruction totalling what you purchase - three times the weight.

Is anybody existing or new confused about how the new phase works, or do you have any questions about it?
I've had a few private messages asking for clarifications or from people who don't quite "get it"

Okay, I'll give it a concerted effort all day tomorrow, and make some plans this evening - sure we can make something happen

I'll be away from the computer for the next few hours, but will drop back in around midnight utc.

Exactly, it'll happen though at some point, and as it does more will join. The numbers are designed to force the price up regardless of dumping, all it takes is confidence.

There are a host of alt coins with various people trying to pump so they can dump, miners dumping, etc you all well know the state of the crypto scene. This coin is designed entirely for traders and investors, with input and decisions by traders and investors all the way along, it's as strong as you make it, and isn't open to manipulation, do run the numbers yourselves and do comment back with any changes, flaws, and proposals. It's your coin.

I agree completely, very keen to have organic growth of WOLF, however marketing and promotion can help. These things tend to grow organically and exponentially with one person prompting another to join in.


Correct, I'll clarify that on the new ann.


Agree completely, perhaps even an animated short which shows it working.


Perhaps, the miner flood gates open on 2014-04-27, just under 3 weeks from now regardless.


Yes all round.

Touched it for sure taking out about 15% of the wall, I presume somebody really needed some cash to take such a loss!

We discussed this in chat yesterday. There's about 80-100k floating around poloniex and being traded. With the new approach, if everybody who was active during the game phase dumped on the way up, it would use less than 25% of the funds brought in from the batches, that's with 100% dump. If we also presume that anybody buying after 0.0014 is certainly holding long term, then there's also enough to handle a near 100% dump from those acquiring during the first 20 or so batches.

In other words, if only 1/4 of the WOLF bought during this phase is held, and everything else from all phases is dumped, there isn't enough WOLF available to drive through all the btc injected in this phase and lower the price. And all that dumped WOLF gets destroyed.

Somebody just got a 30% bonus.

Anything is possible, from logo change through to entire re-branding. Opinions welcomed.

The current logo is based on the InsanityWolf meme.

Thanks, and thanks all!

I'll be in IRC most of the day today to discuss ideas for marketing / promotion, if you'd like to get on board, contribute, or have anything to add, please pop in, say hi, and we'll respond.

UPDATE

ANN Updated for Phase Two - please review

WOLF Phase Two under way, initial orders have started being processed for BTC received, pending orders will be processed when BTC is received, in chronological order.

Correct.

There is still a date of 2014-04-27 (3 weeks from now, which corresponds to the end of the original week 9) when the coin configuration changes. From then it's a mined coin, and the 10% transaction fee is dropped.

I'm preparing a new ANN and website content at the moment which gives all details.

Yes, all that starts from now - many updates to come, supply open, a low ball wall has been set by an investor, orders are in bound ready for processing. Let's do this.

That is in your hands, and the hands of your fellow wolf traders / holders.

I'm setting up the infrastructure and communicating with everybody to ensure that if you simply have a little faith in your own holdings, it will pay dividends. All you have to do is be strong and buy / hold / discuss wolf socially.

If you're not a strong hand then either don't buy, or get out using the walls which will be provided, that's what they are there for.

At the least, it's an open democratic coin where you have as much influence over it's future and price as I do - and collectively far more power over it than me.. I'm just administrative staff - there are no surprises and no people with free wolf or mined wolf waiting to dump. It's a level, transparent, playing field.. for once.

update: WOLF enters Phase Two on 2014-04-07, proposal accepted: https://docs.google.com/document/d/1py6VDiRlMl3zJbS19jCTpt0rd8F4wd1tXnck2VaMmZ8/edit

ps: new orders processed in chronological order from when received, so if you want any of the first batches express intent in pm to be first in the queue

Update

It appears that everyone is in favour of the new WOLF proposal.

If anybody has any comments / change requests or counter proposal, now is the time to mentioned them. Meeting ends in just under 2 hours, 00:00 UTC.

I'd like to thank the many people who've taken time out to agree a future for their coin today. It's been good to see so much involvement and thought.

I am not changing the rules. Previous investors are agreeing together new rules which benefit them.

Yes, just under 2 hours until meeting.

I'm active in IRC and many others are around, feel free to ask for clarifications, comment, or offer counter proposals or modifications from now.

This is a proposal for discussion. The final version of it when agreed by a majority will be implemented today and the supply will open.

Meeting Address: https://kiwiirc.com/client/irc.freenode.net/#insanitycoin

InsanityDev's WOLF Phase Two Proposal: https://docs.google.com/document/d/1py6VDiRlMl3zJbS19jCTpt0rd8F4wd1tXnck2VaMmZ8/edit?usp=sharing

I am active in IRC, please request any clarifications, post proposals, modifications in there.

Thanks BlockChains, it was more confirming than illuminating to be honest, you brought a lot of weight on the BTC side as a trader, and thus had the most impact on the order book each week. Perfectly valid strategy though and I hope it served you well. To be honest you and one other spent most of each week pricing each other out, took the lowest gains, and had the most impact on the overall price, if you worked together you could have made considerably more.

The next phase is a move to bolster the InsanityCoin economy, provide a solid footing for it going forward, to reward the longer term holders/investors, and provide enough constant weight on the order book that even the largest traders can't knock it down without taking a loss, almost a trader 51% attack mitigation measure. Whilst still keeping scope for traders to have some activity.

Meeting Address: https://kiwiirc.com/client/irc.freenode.net/#insanitycoin

InsanityDev's WOLF Phase Two Proposal: https://docs.google.com/document/d/1py6VDiRlMl3zJbS19jCTpt0rd8F4wd1tXnck2VaMmZ8/edit?usp=sharing