InsanityDev please can u explain what will happen in market .. in numbers please ... im kinda new here want to understand why there is some dips lately
Gladly,
HistoryWOLF started out as a gamified experiment to try to prove that if the majority of holders believe in the value of a thing, that thing will have (potentially unlimited) value.
An environment was set up where a fixed supply of 1,000,000 coins were minted, 10% were destroyed through transaction fees, and 9 sets of 100,000 coins were made available. The game was simple, all coins were sold at 0.001 BTC per coin, and each week all funds from sales went in to the market to buy as many coins as possible. Those acquired coins were destroyed, taken out of the experiment.
This meant that all cheap coins were taken out of circulation indefinitely, all holders knew that the majority could be classed as strong hands, and all short term traders could make a small profit.
Preliminary FindingsAfter 6 weeks it became clear that certain entities were bringing too much weight, exploiting the game in order to make a small profit on a large number of coins, therefore limiting the value of wolf to be around the supply price.
Long term holders could be classified in to two categories:
1) Those that followed the notion that "if the majority of holders believe in the value of a thing, that thing will have (potentially unlimited) value"
2) Those that partially agreed with the above notion, but also believed an offering had to have technical merit's of it's own to reinforce value.
The ChangeWith ~300,000 coins left to distribute, the "game" was changed to more of "pump". It was designed to encourage exponential growth and prove the notion that "if the majority of holders believe in the value of a thing, that thing will have (potentially unlimited) value", based entirely on each investor/holders trust in their fellow investor/holder.
The price of coins from the supply incrementally rises, and the proceeds from sales create ever growing buy walls and buy support, again with the destruction of all coins acquired back. This new approach was refined and approved by the majority of holders (critical: holders - those who had already bought WOLF).
Secondary FindingsPeople who already followed the notion had already bought and held - thus were not bringing new btc to the pots.
People who believed distinct technical merit was needed held off.
Many who want to invest needed to see the theory partially working (others buying) before they added weight, bought, and encouraged others to buy.
This has created a period of uncertainty around WOLF where several things are happening:
1) Some people are committing to a loss and "getting out"
2) Many people are sitting tight and waiting
3) Some people are bringing BTC, but using it to acquire cheaper than the supply price on market, in order to maximise long term profits.
Additionally, I've had two personal events, a major unexpected long term illness with my wife, and a minor illness myself this week, which have exacerbated the situation.
Current Situation and FutureIt has become clear that the only way to prove the notion "if the majority of holders believe in the value of a thing, that thing will have (potentially unlimited) value" is to bring in fresh investment to get the ball rolling.
... and the only way to bring in fresh investment is to appeal to those that believe a coin needs innovation and technical merit in order to have value. (i.e. it proves that blind faith and agreement of value cannot be the only factor in determining true value, the thing must have intrinsic value itself).
Thus, in due course a plethora of innovative features will be built on WOLF to create the first third generation, web mounted, crypto currency eco system. Many of these innovations have already been prototyped by myself over the last couple of years, WOLF will bring them all together and be the working prototype for the next generation of "coin".
On the 29th April the new website will launch, which will have full details, and more over working demo's of many of the innovations. From there each innovation will mature from prototype, to test network, to main network, in turn, until eventually we have a full new ecosystem mounted on the web, with the legacy peer to peer system bootstrapped for redundancy and backwards compatibility.
The ~300,000 WOLF supply remaining, and the distribution model for it still holds and will still happen, it just needs the technical merit to get it started properly.
For the next four days we can expect the same rises and falls, unless somebody buys in early. The main server for WOLF is fixed and back up, mining rigs to run the network in the interim are now secured and working, and website + feature development is under way.
Features include, but are not limited to:
- http(s) mounted decentralized and distributed block chain, restful data transfer, extensible data which allows any data to be carried (and signed/encrypted) within each transaction. This harnesses the true power of the bitcoin paper, the blockchain, and treats it as a massively scalable cryptographically backed distributed database which can be used in virtually any scenario.. a new data layer for the web.
- anonimized cryptographic authentication protocol, building on key pairs this allows anonymous authentication, where a person can claim an identity if they so wish by proving they have the private keys used to authenticate. Additionally, like the bitcoin protocol it allows new keys for each use, thus exposing no link between authentications and identity across different uses, times, or domains.
- in chain mining parameters, all info required to mine the chain is encoded in the chain, creating an abstract mining protocol which any mining hardware/software can incorporate to automatically configure itself.
- browser based share mining, this allows anybody anywhere to mine on any device, and moreover treats mining as a useful commodity, web pages and content can be monetized in this way, and it could offer a healthy alternative to the advert sponsored web we see today.
- useful hardware mining, as the chain allows any kind of data in transactions, mining rigs can be moved to a position where they support real networks of useful data used in a variety of applications, rather than just currency chains of transactions.
There are several more, and lots of details and minor points in between, but hopefully that gives an indication of the current status, history, and future of WOLF.
