On Poloniex, the site always reverts to older quotes after a minute or so. Does this happen to everyone? I thought by now that they would have fixed this. It's very annoying.
works fine for me.. perhaps others can confirm. Dev, how will the coming sunday work?
Anything special?
Longer trade period like last week or active trading with buy and sell orders or something else?
And how much is the current pot?
Sunday, will certainly be actively trading in some fashion over a few hours, the exact methods depends on how you all place your orders, essentially if it's going to take 100 BTC to move the price up 6% then expect some active trading in a gap with both buy and sell orders and room for exponential profits. Pot Size I'm unsure, processing orders at the minute, and the next 24 hours is normally very busy with ~75-100 btc coming in each week at this time. I'll update with pot size and a few other things in a couple of hours. I'm here pretty much exclusively between now and sunday to process orders, and also implementing some changes to the client for after week 9. Many apologies for my limit availability recently, to save beating around the bush: two weeks ago we discovered my SO has a large cancerous lump, so my time and thoughts have been elsewhere recently. I will however be pushing on with the original plans for wolf, it'll just have to be more of a case of doing it with 50% of my time rather than full time as I had planned. Best Regards to you all, and many thanks for the kind words and offers of help received. |
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If you have insanitycoin on pmtocoins.com please withdraw it the market is closing down due to no activity in WOLF market
expect zero activity for another 5 weeks yet on markets other than Poloniex - a quick read of the Ann should have made it clear. all pm's being responded to now. |
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Dev what is happening? You still have the address crossed out and still didn't post your results. Forum is too dead during the week. I know people who are starting to worry about getting into wolf now. If you want those 6k WOLF you're holding to be worth much come week 10 we've got to have better updates during the week. Especially have to take care of something as simple as taking the dash out of the instructions page for buying wolf once the supply is back open.
Yes, I must apologise, things have been hectic in my personal life the past couple of weeks since we found out about the illness, and I've been off the ball. I'll update everything this evening in a couple of hours time. mini update- new checkpoints added, poloniex is updating client (somebody trying to mine a fork) - WOLF destruction underway, will update shortly with full results and destruction links update 2- new qt client being compiled - poloniex is now using the updated code with new checkpoints - WOLF is all destroyed on block indexes 14130 & 14132 - full update of the weeks trades coming soon. BTC Pot is at ~29 for this week so far |
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You have 82766.1196885 WOLF - all done for insanity sunday, thanks for playing.
This was the first week where I could have had more (had 91,000 at one point) but wanted it to be a bit more fun, and 82%+ buy back is still huge.
I'll post results and answer any new pm's that come in this afternoon, need to head out for a few hours.
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When I had to leave the game at ~ 8 UTC, the price was under 0.00105 and dropping. However, I see now that my sell order at 0.001099 was filled. I understand that the dev became active later, could somebody tell me what was the highest price he bought?
0.00113 was the highest Games is not quite over yet, expect it to be very soon though |
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okay - let's trade a bit more actively for a couple of hours, see what happens, now that we know the earliest of dumpers are gone
Next time skip to this step right from the start please I can't, quite a few wolf holders are in it to get BTC out again as quickly as possible, and they jam up the board.. remember that week where I just threw 100 BTC at it, price hardly moved, and price crashed? I need to get those people out first (or have some of you buy on a sunday instead of during the week, percentage profits would be pretty much the same) |
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okay - let's trade a bit more actively for a couple of hours, see what happens, now that we know the earliest of dumpers are gone
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I hate to say, but you all make the market what it is, if you decide to jam up an order book so it can't move in price, or dump low, or don't actively trade, then there isn't much anybody can do about it. I throw chunks of BTC at it in both orders and buy walls, and large amounts of money thousands at a time.
Look at the board, it takes $22.5 thousand to move it a couple of percent up. You control that.
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supply locked, pending orders will be with you in the next few minutes, btc pot is full.
best of luck to you all!
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This coin would make a great source of data for exploring game theory.
completely agree - the idea was to gamify the distribution phase of a coin to try and make it fair, each person holds as little or as much as they want, all with the same level of investment per coin (+/- a small percentage for those acquiring on market). Also just back in, all pending orders are processed, I'll try and pm you all. ps: btc pot at ~99, so consider it full! |
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BTC Pot is at ~ 86 BTC with 15 pending - thus consider it a full pot.
Just under 24 hours before the supply is cut.
It's my wife's birthday today so I'll be away from the pc this afternoon, any orders in the next hour or so will be serviced immediately, any after that will be sent this evening UTC.
Regarding the time, let us remember that all other coins are traded 24 hours a day, 7 days a week, and WOLF will be in a few weeks too, this is a gradual ramp up towards that, at only 20 hours it's also fair to presume that from 02:00-08:00 UTC monday I'll be sleeping!
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Very quiet here. What's the current pot size for this weeks insanity sunday? And how will the insanity sunday this week work, like below? So no buying and selling like week 3, only a bigger timeframe? Decision
I want to change this back over two weeks to how it was.
Week 3
I will be buying and selling, making whale moves in both directions, and the spread will change up and down over several hours. Those playing will make the most money for the week by buying and selling, and focussing what I, the whale, am doing. Expect no huge bumps, just a volatile market where active traders will make profit... obviously a fair chunk of buy orders will be filled in the process though.
Week 4 - Supply End
The time will change from a fixed 6 hours, to me trading with the pot at any time whilst the supply is closed. 12:00 Sunday to 10:00 Monday.
Supply End - Week 9
Bump, at a random time each weekend, 100 BTC will buy up the book in a single order as high as it will go.
I've changed parameters based on feedback several times, it's made the game more boring, getting back to roots now
Thanks! It seems to be quiet until the weekends - pot is at 64 but quite sure it'll be 100 and in to next weeks supply before sunday, as everybody waits until the end of the weekend. This week, you can probably expect random 10-25 btc buy orders at various times whilst the supply is empty. Poloniex, it appears to be more than fine - people have started being paid back bits of BTC, no more problems, everything working as expected. |
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But there is something that I can't understand in your trade list: at minute 06:54:00 (for example) you sold a lot of wolf between 0.001-0.00107 and, at the same time, bought another lot between 0.00154-0.001175. What was your reason to sell cheap and buy expensive?
If, by selling cheap, your goal was to decrease the market price, I think that your best next move would have been to buy your own cheap orders - seems the ideal way to reach the goal without losing anything.
But buying, instead, higher orders would increase back the market price, annihilating your first move and also making a loss for you. So, where is the gain?!
Or have you acted this way just to encourage other traders to play more active and to make the game more funny (as you promised)?
I was hoping to achieve three things: 1) Open up a spread in which the active traders could trade more freely 2) Make the game more fun 3) Slowly move the price up in a rolling fashion, I'd partly hoped more people had brought btc on the day or were actively trading and would put up buy orders also. Failing that though, a goal was to have a sentiment among traders or "somebody dumped low but the dev is still buying, it's not over yet, I won't sell low" (which would lead to them placing sell orders and jamming up the sell side again if no weight was added to the buy side). As a private trader, I frequently place orders to re buy everything I've sold at a price point lower, so if I sell at 0.0011, 0.0012, 0.0013, I will place buy orders at 0.00105, 0.00115, 0.00125, this keeps the price moving upwards, and ensures I make a gain even if a dump happens. I'd hoped to see some of this on insanity sunday, adding weight to the buy side which garners buy support and lifts the price higher. btc pot at 62 for this week so far |
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So glad to see you discussing things!
Week 3
Albert Einstein called compound interest ".. the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it".
He didn't really say that, but it's quoted a lot in various forms.
I short, this week I provided a volatile fluctuating market, with prices swinging from base to 5%, 10%, 15%+ forwards and backwards over a few hours.
From my perspective, this allowed me to acquire more WOLF cheaper, even if I had to take a hit on some trades where people were playing the spread, it forced people in to dumping lower, lowering my average acquisition cost massively.
From a traders perspective, if they were active and playing the spread or watching the price movements, they could perform several trades to grow their balances, similar to how compound interest works.
Working with fixed variable of buying at 0.001 and selling at 0.0011 five times in a row, and starting with 1000 WOLF.
Trade 1: Sell 1000 for 1.1 BTC, re buy 1100 WOLF
Trade 2: Sell 1100 for 1.21 BTC, re buy 1210 WOLF
Trade 3: Sell 1210 for 1.331 BTC, re buy 1331 WOLF
Trade 4: Sell 1331 for 1.4641 BTC, re buy 1464.1 WOLF
Trade 5: Sell 1464.1 for 1.1 BTC = 1.61051 BTC or 1610.51 WOLF
So whilst the market only went up 10% in our example, the trader earned 61.05% profit with 5 very simple trades.
Consider this trader did this for the last 3 weeks in a row, the same 5 trades. At the end of week 2 he'd have ~2593, week 3: ~4177.
For the sake of interest, week 9: ~72,890 - yes that is the correct figure, almost 7200% gain if the coin has not gone up in value.. if it has even doubled in value then that's nearer 15000%).
Week 2
This simply demonstrated what happens when everybody rushes for a coin seeking a large gain, they force each other lower, jam up the order book so that even a whale can't move it, and ultimately force many people in to a loss. You may recognise this pattern from most coins you've ever bought that have been "pumping" (allegedly).
Future
Ultimately you all need to learn to hold your ground, to trust that a coin is worth something, if you all believe it is, it simply will be, or even if most of you do.
Each week you know 100 BTC is going in to the market, why be so keen to let go of your WOLF? If you can buy 1000 for 1 BTC, and sell 1 for 1 BTC, do you not have 999 WOLF free, which you can sell at literally any price to make a profit? If you see somebody has placed an order lower than yours, why move lower still, move higher so the low order moves higher too, or leave them alone to get swallowed up for cheap. Remember your numbers though, you can't just keep putting all your coin on the market at a higher price as together you'll all be asking for so much BTC that nobody could move it, and also force your fellow traders to start going lower again.
All of this applies to every coin, successful "pumps" happen because the large coin holders clear the order book of sell orders, you'll notice that the coins which go up the highest have lots bought cheap, then hardly anything on offer for anybody else, frequently only 1-2% of coins in circulation are on the market, allowing the price to rise easily, stabilize high, then the sell start happening (the dump) - a dump wipes the price back down, a slow steady sell of only what you need to keeps the price going higher or roughly stable. This would never happen if the orderbook was full would it? you've seen those coins with lots of sell orders where it dies (check CORG, or check COL for something which is locked at a stale mate).
WOLF This 9 week game is a novel distribution phase, you who are playing are the ones who will and do hold 100% of the coin, you together control it's price, and your own profits, both short and long term. I hope you can make some short term profit each week to either get out with some BTC, or to be holding a decent amount of WOLF which you've lowered your overall purchase price for over the weeks, or even just holding free wolf having taken out your original investment. I also really hope you learn to value the coin(s) you hold, to not let them go too easily, and to start making larger profits on more stable markets - and of course hopefully WOLF will be one of them. I hold ~6000 as you all know, and I'd really like 9 weeks of work, and several months of feature additions after to be worth a bit more than 6 BTC at the end.. but that's all in your hands, and mine a bit I guess.
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everything depends on what happens after week 9, if something at all.
otherwise, it will be a game of musical chairs.
see the big "important read" read link on the ANN.. |
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Insanity Sunday - Week 3 ResultsSummary- Total Pot: 100 BTC
- Total Acquired: 83,328.15395436 WOLF
- Percentage Acquired Back: 83.328% of WOLF sold.
- Average Price: 10.052% over base (0.00110052 BTC)
- Maximum Price: 17.5% over base (0.001175 BTC)
- Minimum Price: 0% over base (0.001 BTC)
- Max Reported Profit: 62% by actively trading (others may have achieved higher)
- Trade List: http://5.9.111.71/results/w3/trades.csv
Coin DestructionTotal to Destroy: 83,328.15395436 WOLF A Note on ProjectionAt the current rate, we can assume that by week 7 the wolf supply will be empty, and 640,000 coins will have been destroyed. (120k by tx fees, 520k by insanity sundays). More than 100,000 coins are held by long term holders, meaning the amount in circulation and being traded should be around 260k by the end of week 7. (1m-640k-100k). In other words at the current rates, it looks like we'll have a market of 260k coins when the supply is empty, with 3x 100 btc bumps, no price reset, and an open market. Remember all the coins bought in those final weeks will also be destroyed, although I expect to get no where near the average 79k once the supply is empty! It would be very interesting to see some suggested projections of what the market may look like over those final three weeks before the swap to long term coin settings. Interesting. Thanks to everybody who took part in this weeks insanity sunday. WOLF supply opens 10:00 Monday, BTC Pot is ~60 for next week already
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Can anybody think of a reason why I shouldn't open the wolf supply early / now instead of tomorrow am?
I think it adds dynamics not opening until tomorrow. After each event there is a dip as bagholders are trying to get rid of coins, one generally gets good deals on Sunday after the event. The price did not go back up to normal for a few days leading to less people buying from the dev and more people buying on the market for that window. I would assume that less coins were sold because of this. Although I guess it does not matter that much if there is a pressing reason to open buying again. Good reason, and no, no pressing reason to reopen buying early  10:00 tomorrow it is. |
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Woot Woot... Increased my Wolf holdings 62% today Great, I hoped some people would get considerably higher percentages by actively trading, compared to those who just placed and order and sat on it. Can anybody think of a reason why I shouldn't open the wolf supply early / now instead of tomorrow am? |
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Done: 83,328.15395436 WOLF  I'll update with full stats and trade list shortly. |
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