[ANN][WOLF] Project WOLF

[InsanityDev]

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.

Glad you made that clear - people have already taken different approaches, some are in it for 1% gains, some for 1000%.

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.

And by "large" that could mean large-btc-low-wolf (0.1 BTC per coin) or large-wolf-low-btc (0.001 BTC per coin), purely to destroy it and acquire more. Strategies.

Thanks for all your replies ZeroK, and for taking the time to check everything out properly - I can see you being a valued member of this community.

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

After a few weeks I hope we have a fairly solid pack of trusted traders centered around WOLF, I'd hope that community could make diplomatic decisions and decide this for themselves, they could stay, or reduce, or be removed all together. The community will decide nearer the time, I'll get a build together with whatever they choose, and people can update clients if a change is made.
nb: all past coins destroyed are gone for good, regardless of whether this change was made or not.

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 coin.

Exactly, there is of course nothing wrong with having multi-week strategies or changing them each week. I know I personally will learn a lot from this, and hope we all do (and make a profit).

I will stress again, as a pack the best course of action is to kill as many coins as possible, and reduce the supply from me to 0 as quickly as possible. That way the market should grow exponentially over the remaining weeks. A similar approach is to limit buying and let as many coins as possible be left in my supply at week 9, then they'll all be destroyed, also reducing the money supply massively. (Reducing the money supply increases the value of each coin).
I'd encourage you to discuss amongst yourselves, or think alone on, what is best for the individual, the pack, short term, and long term.

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[nonons]

if block reward is zero where is the supply from  scam coin

[minerfool]

what day/time will you be executing the trades over the weekend?  it should be the same each time so everyone can be prepared right?

also, will there be transparency for each trade week.  So if you receive 50BTC this first week, how will we know you bought 50BTC worth of WOLF, and not 45BTC and pocketed 5 for yourself?

[ZeroK]

what day/time will you be executing the trades over the weekend?  it should be the same each time so everyone can be prepared right?

The bump will be each Sunday at a random time between 18:00 to 23:59 UTC.

also, will there be transparency for each trade week.  So if you receive 50BTC this first week, how will we know you bought 50BTC worth of WOLF, and not 45BTC and pocketed 5 for yourself?

We will be able to work out from the market trade history of the exchange how much BTC was spent during the buy back.

Another way, requiring less calculation, is to keep track of the volume, and when it jumps suddenly work out the difference to see if it is the same as the BTC pot (or slightly greater, depending on other trades occurring simultaneously).

There may be trading noise but that cannot be predicted so cannot be used to reduce BTC spent on the buy back without getting caught.

[luigi1111]

if block reward is zero where is the supply from  scam coin

You may want to work on your reading comprehension. All coins are present from genesis block.

[capsized]

what day/time will you be executing the trades over the weekend?  it should be the same each time so everyone can be prepared right?

also, will there be transparency for each trade week.  So if you receive 50BTC this first week, how will we know you bought 50BTC worth of WOLF, and not 45BTC and pocketed 5 for yourself?

You know what would be insane?
Tell everyone the buyback is on Sunday and then do it on Friday.  

Just joking. But I must say, that so far this launch is going extremely well.
There is a Windows wallet, an exchange at launch and an interesting unique concept that is clearly defined and well communicated.

And despite the idea being insane, the business is handled professionally so far.

[nonons]

who owns the genesis block coins

[InsanityDev]

what day/time will you be executing the trades over the weekend?  it should be the same each time so everyone can be prepared right?

also, will there be transparency for each trade week.  So if you receive 50BTC this first week, how will we know you bought 50BTC worth of WOLF, and not 45BTC and pocketed 5 for yourself?

You know what would be insane?
Tell everyone the buyback is on Sunday and then do it on Friday.  

Just joking. But I must say, that so far this launch is going extremely well.
There is a Windows wallet, an exchange at launch and an interesting unique concept that is clearly defined and well communicated.

And despite the idea being insane, the business is handled professionally so far.

You have no idea how much I've already been tempted to do that. I wish I'd ignored requests to fix a time, however I can see how it's beneficial.

Regarding transparency, I can simply c+p the order history to the forum. Poloniex (staff or market history) could verify if there were any questions by anybody.

[sq]

Add your coin to our altcoin calendar.

[y3804]

Add your coin to our altcoin calendar.

The coin is already released...

[InsanityDev]

who owns the genesis block coins

I "manage" them, not own.

The only people who own coins are the ones who have bought them. Any coins not bought in the allotted 9 week time slot get destroyed.

I own circa 6000 total. Which hopefully is fair, it'll be my reward at the end, if I don't give any more away for bounties. (I gave 1000 to poloniex as first exchange to add, and 1000 to the windows developer who compiled the windows qt client for me, I'm a linux man).

edit: it was block 1, not block 0, which had all the coins in it. 1,000,000 exactly. Block 0 also had a reward of 1 single coin, that cannot be redeemed or spent, an offering as is customary.

[ZeroK]

what day/time will you be executing the trades over the weekend?  it should be the same each time so everyone can be prepared right?

also, will there be transparency for each trade week.  So if you receive 50BTC this first week, how will we know you bought 50BTC worth of WOLF, and not 45BTC and pocketed 5 for yourself?

You know what would be insane?
Tell everyone the buyback is on Sunday and then do it on Friday.  

Just joking. But I must say, that so far this launch is going extremely well.
There is a Windows wallet, an exchange at launch and an interesting unique concept that is clearly defined and well communicated.

And despite the idea being insane, the business is handled professionally so far.

You have no idea how much I've already been tempted to do that. I wish I'd ignored requests to fix a time, however I can see how it's beneficial.

Regarding transparency, I can simply c+p the order history to the forum. Poloniex (staff or market history) could verify if there were any questions by anybody.

With regards to fixing a time, and how long it is, there is a trade off between whether this is a game of skill or random chance.

If the time was not fixed, or of a very long duration, then it is very much a game of chance.

With the time fixed, and of a shorter duration, it becomes a game of skill, a game of how well you can place your sell orders to maximise your chances of having your orders filled, whilst also trying to maximise your profit.

Personally, I prefer it being a game of skill, to have the time both fixed and of a short duration, maybe even shorter than it is now.

[InsanityDev]

what day/time will you be executing the trades over the weekend?  it should be the same each time so everyone can be prepared right?

also, will there be transparency for each trade week.  So if you receive 50BTC this first week, how will we know you bought 50BTC worth of WOLF, and not 45BTC and pocketed 5 for yourself?

You know what would be insane?
Tell everyone the buyback is on Sunday and then do it on Friday.  

Just joking. But I must say, that so far this launch is going extremely well.
There is a Windows wallet, an exchange at launch and an interesting unique concept that is clearly defined and well communicated.

And despite the idea being insane, the business is handled professionally so far.

You have no idea how much I've already been tempted to do that. I wish I'd ignored requests to fix a time, however I can see how it's beneficial.

Regarding transparency, I can simply c+p the order history to the forum. Poloniex (staff or market history) could verify if there were any questions by anybody.

With regards to fixing a time, and how long it is, there is a trade off between whether this is a game of skill or random chance.

If the time was not fixed, or of a very long duration, then it is very much a game of chance.

With the time fixed, and of a shorter duration, it becomes a game of skill, a game of how well you can place your sell orders to maximise your chances of having your orders filled, whilst also trying to maximise your profit.

Personally, I prefer it being a game of skill, to have the time both fixed and of a short duration, maybe even shorter than it is now.

Likewise, I agree. You made that point well. So a short timeframe allows various skills to be employed - (and gives me personally some flexibility in my own life). For example somebody may want to buy the cheaper orders and place them higher.

I'm very intrigued to see how week one pans out, and compares to later weeks.

[jrprice]

if anybody is wondering, I sent 0.5btc to insanitydev and pm'd him the transaction id and my poloniex wolfcoin address.
he replied 2 mins later to say that he had sent the wolfcoins.
It took 8 mins for any confirmations to show at poloniex.
6 mins after that (14 mins total after he sent them), they had 4 confirmations and had completed the transfer into my poloniex account.
easy.

[capsized]

I'm very intrigued to see how week one pans out, and compares to later weeks.

Same here.
I guess that the first buyback will be very crucial.
Once that happens (and we all hope it will) and people see this is real, then it should literally open the floodgates.
I hope you'll have the IPO process automatized by then.

Also, I like the fact that the poloniex exchange doesn't have an API,
because bot traders will add very different dynamics to the trades.

As this is a very human experiment about greed, risk and strategy I hope it will stay like that for the next 9 weeks.

[kino]

Will there be a repricing after week one? Since much of the coins will be destroyed by then I think it's fair that OP's original price should move as well.

[y3804]

Wait there's a 10% Transaction FEE???

I just lost 0.3BTC. Fuck it, I'm putting a 2700 wolf sell order at 0.0011. Will remove before sunday if no buyers

[username here]

if anybody is wondering, I sent 0.5btc to insanitydev and pm'd him the transaction id and my poloniex wolfcoin address.
he replied 2 mins later to say that he had sent the wolfcoins.
It took 8 mins for any confirmations to show at poloniex.
6 mins after that (14 mins total after he sent them), they had 4 confirmations and had completed the transfer into my poloniex account.
easy.

Ditto, the dev is doing an excellent job of managing this coin so far.  He has been quite prompt and helpful with requests.

[username here]

Wait there's a 10% Transaction FEE???

I just lost 0.3BTC. Fuck it, I'm putting a 2700 wolf sell order at 0.0011. Will remove before sunday if no buyers

How do you not how about that?  It is in the original post.  The 10% is destroyed with every move.  That is the insanity part of the whole InsanityCoin concept. 

[y3804]

I thought it only occurred when you bought from the IPO (aka directly from the OP, and he would destroy the coin himself.)

I'm really stupid, sometimes... oh well