[ANN][WOLF] Project WOLF

[GigaCoin]

This is fucking stupid, and it is absolutely pointless. This creates no value, all I can see is 100BTC going to the Dev and that's it.

Not even worth a pump and dump

[1715061405]

1715061405

[podizzle]

i agree put up a sell wall at .001 until its time to buy with fees

[jrprice]

replying to everybody, so many pms now 5 pages worth, I'll get to you don't worry.

pot is growing, over 20 btc, will update everybody properly once I get through this sea of PMs.

probably an idea for me to make an automated purchase bot

just make an sell order on exchange

yeah, I agree. why complicate things? just sell on an exchange. you need to get the coins out there and sold as quickly as possible. no point in using a pot to fill the sell orders on an exchange at the end of a week to drive up the price on the exchange, if you can still buy them for 0.001 from dev. if you can buy them for 0.001 then the price hasn't really gone up. people are buying slightly higher on poloniex coz they don't want the hassle of buying direct, but its gonna be boring until all the coins are in circulation - price will remain at just over 0.001 until you cant buy from dev. best to make them as easy to buy as possible.

[Hardwyre]

Dev should put all his coins on the exchange at 0.0015 instead of selling direct.  He's screwing the people who are buying on Pol.

[gvans]

Dev should put all his coins on the exchange at 0.0015 instead of selling direct.  He's screwing the people who are buying on Pol.

InsanityCoin it is, it's really a game and we cannot help it 

[Bfljosh]

I'm up for this experiment. I just sent 0,5 btc.


Net amount: -0.50 BTC
Transaction ID: ead827f65ea0fc7a323c2639fbcdb0991592ed05757e928ce88ab605fe91ea9c

Edit: received. Let's do this!

[Bfljosh]

What the hell, I order more  

Net amount: -0.50 BTC
Transaction ID: efd6bf5ef486683abab62370b7dca514a6092c706952f791dc981d557c757513

Edit: received, fast reply from dev. Thanks!

[Bfljosh]

noob question - when a trade is done at poloniex (of insanitycoins), am I right in saying that no destruction occurs because the insanitycoins aren't physically transferring from one wallet to another? ie destruction occurs when transferred to/from poloniex, but not within it.

This is correct.

[InsanityDev]

update

Fellow wolves, I think I've caught up with all the PMs now, if anybody hasn't had a response please let me know. 40+ people have expressed interest to purchase, and over half of them already have.

Pot
BTC Pot is at 22+ BTC and growing constantly.

Everybody uses the same address 1B5XfuPZZesYMMLZFhpeHAX9NaRLnEJkDh, apart from one 2 BTC transaction at the start to user NWO (who was the first to buy).
5 BTC has been moved to Poloniex so far and comprises the 5000 Buy order at 0.0009 in case anybody wants out, and the 500 buy order at 0.001 to set the base price.
0.65 BTC has been set aside to cover high powered mining rig contracts to keep the chain strong and fast for everybody over the next few weeks. I'll let the community decide if this is fair to take from the pot or not, if not then I'll personally replenish that amount.

Clarifications
When you purchase initially, you are purchasing "tax free" as it were. If you buy 1000 WOLF via the pot you receive 1000. 1100 are actually sent, 100 of those are destroyed.
Coins traded at poloniex and kept there are not destroyed, other than poloniex's own fee. Coins withdrawn to blockchain and sent are of course subject to a 10% destructive fee.

Why don't you sell on market at a fixed price?
Well that would be a huge xxx BTC sell wall.. not healthy..!

Buying Back / the weekly bump
Do be aware there are multiple traders in our pack, each with different strategies. Some will hold, some will put coins on at a low price to try and get them destructed and to buy more. Some may even bump the price themselves, buying everything on market at the weekend and putting only 1 WOLF up for sale at pot-size-price. This is the game.

I as pot holder will try to acquire and destroy as many coins as possible each week on the bump. One week it may be a huge buy order right up the book, the next it may be 5 orders at 20% of pot size over 30 minutes or so.

You as wolves have different motives, some of you will want to get as much BTC profit as you can, others of you will want to acquire as much WOLF as possible for when there is none left and the money supply is 500k or less.

The bump will be each Sunday at a random time between 18:00 to 23:59 UTC. Shortly after I'll announce how many coins were bought, take them out of poloniex and start sending them backwards and forwards between two addresses until less than 1 WOLF remains.

Thank you all, and looking forward to seeing how this takes shape over the coming weeks.

We are but only 48 hours in so far.

[luigi1111]

Dev should put all his coins on the exchange at 0.0015 instead of selling direct.  He's screwing the people who are buying on Pol.

That wouldn't make any sense; his price is 0.001, not 0.0015.

[InsanityDev]

Dev should put all his coins on the exchange at 0.0015 instead of selling direct.  He's screwing the people who are buying on Pol.

That wouldn't make any sense; his price is 0.001, not 0.0015.

more importantly:
1) a several hundred btc wall would not help anything
2) it would severely limit trading strategies
3) it would prevent exponential decline of the money supply. An important trading strategy is people buying off market, sell on market for more, and then buying more WOLF. This decreases the coin supply, grows the community + number of holders, and increases the value of each overall coin.

Ultimately, if you wolves can get through all of the InsanityCoin in less than 9 weeks, then you have x weeks of playing on market with a huge amount of traders, and guaranteed 100 BTC bumps each sunday.

[daniklo]

you havent replied to my pm..

[wizzardTim]

So, what is the process?

Let's say I want to invest.

I have to send BTC to a specific address and pm the OP with the transaction id? And then how will I get my WolfCoins? Is there a wallet?

[podizzle]

so all the action will be on the weekends and dead during the week? 

[y3804]

so all the action will be on the weekends and dead during the week?  

Yeah, pretty much. But you may want to buy now to set up your sell orders.

Dev, please check your PM.

[InsanityDev]

For interests sake, if I executed the pot now, the price would go over 0.01 BTC per coin on market, and 5000+ WOLF destroyed

[back to pm's]

[ZeroK]

So, what is the process?

Let's say I want to invest.

I have to send BTC to a specific address and pm the OP with the transaction id? And then how will I get my WolfCoins? Is there a wallet?

Yes, pm dev, send BTC to address given, he sends the Insanitycoin.

Link to wallets are in the OP.

It should be noted though, that sending to a wallet and then sending to an exchange, as opposed to sending to an exchange directly, will reduce the WOLF amount by 10%.

Some may do this intentionally to reduce supply, but it should be out of choice, not because if a mistake.

[podizzle]

sorry im lazy but will 10% be taken from each transaction even after 9 weeks?

[ZeroK]

For interests sake, if I executed the pot now, the price would go over 0.01 BTC per coin on market, and 5000+ WOLF destroyed

[back to pm's]

It is in traders interests to not place large sell orders until Sunday 18:00, and even later if they feel daring, so as to hide their strategy from the market and also reduce competition allowing them to set higher sell prices.

[kimosan]

So, what is the process?

Let's say I want to invest.

I have to send BTC to a specific address and pm the OP with the transaction id? And then how will I get my WolfCoins? Is there a wallet?

Yes, pm dev, send BTC to address given, he sends the Insanitycoin.

Link to wallets are in the OP.

It should be noted though, that sending to a wallet and then sending to an exchange, as opposed to sending to an exchange directly, will reduce the WOLF amount by 10%.

Some may do this intentionally to reduce supply, but it should be out of choice, not because if a mistake.

This coin is meant to be destroyed over time, a game of nerves. How long will people hold out, how many to buy back, how many to dump, when will people let go of all their WOLF... fun! Intentional (or, oops, unintentional) destruction. Excellent.

Mistakes happen, I'd try to limit them with this one.