[ANN][WOLF] Project WOLF

[InsanityDev]

InsanityCoin
Democratic & Strong Coin for Investors and Traders
website: http://insanitycoin.com/ | twitter updates: https://twitter.com/CoinInsanity | https://kiwiirc.com/client/irc.freenode.net/#insanitycoin | https://poloniex.com/exchange/btc_wolf

Development 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-qt

Previously 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 Chart

Current 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

Details

• ports: 55445 RPC (55446 P2P)
• currency: WOLF
• prefix: W
• github: https://github.com/insanitydev/insanitycoin
• windows-qt: http://ge.tt/api/1/files/2HZRUNK1/3/blob?download new stable thanks pompobit
• mac-qt: http://ge.tt/api/1/files/2HZRUNK1/2/blob?download needs updated new stable thanks thesamson
• insanitycoin.conf: http://5.9.111.71/insanitycoin.conf
• block explorer: http://5.9.111.71:2750/chain/InsanityCoin
• exchange: https://poloniex.com/exchange/btc_wolf
• nodes list: http://5.9.111.71/connections
• logo: https://raw2.github.com/insanitydev/insanitycoin/master/src/qt/res/icons/bitcoin.png (alternative: https://i.imgur.com/2TN6lBU.png thanks syrusek)
• bugs: https://github.com/insanitydev/insanitycoin/issues

Future

• 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.

Ordering
The 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

[salstimda]

i dont get it

[fighter]

i dont get it

Yep

[Jarod1231]

uhhhh... so basically you buy the coin with the hopes that your own money is going to buy it back from you at a profit... while trusting the DEV to not take 100BTC and run away? lol

[Cryptock]

Is this a new code?

[InsanityDev]

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.

[CryptoCasino]

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.

Edit: OneRareCoin said he created Proof Of Rarity before you and he made his thread a week before you and I checked and he actually did. thread: https://bitcointalk.org/index.php?topic=457462.0

this is his new thread for launch: https://bitcointalk.org/index.php?topic=473921.new#new

did you copy him?

[cryptohunter]

no windows qt = dead.

[salstimda]

where does the money come from to buy up all the sell orders?

[romawi]

Every day when I see the announcements here, I think shitcoin XY can not be beaten and every day a new dev proves to me the converse 

[InsanityDev]

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.

[cryptohunter]

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.

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 ?

[InsanityDev]

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.

[InsanityDev]

where does the money come from to buy up all the sell orders?

from people purchasing the coins, first paragraph of the ann

[canth]

InsanityCoin - it's like playing blind roulette.

[vlight]

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?

[Danz0r77]

WTB 1 WOLF @ 0.0001

[AltcoinBull]

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 coins 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.

After 9 weeks when this IPO is finished it will be a free market. It is no different to how other coins pump but it will have help from the BTC reserves.

[Spoetnik]

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.

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 ?

must have been an accident LOL
whooooopsy
sorry didn't mean to exclude windows users while i work hard at flash mining.. cough cough Max coin lol
naive much ?

PS:
OP maybe see a shrink instead of posting poorly cloned ponzi schemes ?
and please do tell us how many coins have you posted and how many forum account names have you made ? about 30mb worth in the forum db or what ?

keep it up smart guy.. all your going to do is piss off more and more of the guys who *used to mine crap like this.
people are already growing tired of idiot clone coin spammers.
there is the rope..
do what you will with it smart guy lol

[InsanityDev]

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.