[ANN][WOLF] Project WOLF

[northranger79510]

I'm a big fan of this coin/experiment and convinced that this is a great concept, coming at the right time and delivered well.

Still, if I was a bank or insurance that would have to neutrally evaluate the risk of a certain venture, I would have to mark this as ultra-high risk investment.
Higher even compared to other cryptocurrencies, due to various reasons, mostly because it is centered around the dev as sole holder of the pot.
Creating a new account solely for this coin doesn't help either.

Now how can you gain more trust in the community and improve the really high perceived risk of this coin?
And I think you mentioned one remarkable fact about yourself ...

many pivotal BTC people know me.

That is awesome!
It doesn't take much to increase the trust into you and your coin by a manifold,
if just one of those pivotal BTC people would mention WOLF and thus proving your alleged ties.
One tweet even would be enough.

Disclaimer: I have invested close to 1,5 BTC and am ready to invest more if dev can get couple known people vouch for his identity.

I concur. If you can have poloniex owner as well as other trusted community member write on here that they vouch for you. I would invest more.

[InsanityDev]

no problem and good thinking, I'll ask a few people to confirm

edit: I've asked 7 people, including 3 buyers, 2 very trusted members of the community here, also some exchange guys BitJohn from cryptsy, and Tristan from Poloniex to confirm they know me.

[flo_k]

Are there any plans to ...?
No, the plan is to buy and destroy as many of the coins purchased as possible, raising each coins individual price and the market cap as high as possible over 10 weeks.
...
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.

But what if nobody will sell back during the 9 weeks, but keep all the bought coins, waiting the price to be raised by the others ? Why to sell even 1 Wolf of the initial cheap purchase, if it could worth a fortune sometime?

Don't you think that a lot of people (or all !) could judge this way and, if so, the "game" will not work?

 

[InsanityDev]

Are there any plans to ...?
No, the plan is to buy and destroy as many of the coins purchased as possible, raising each coins individual price and the market cap as high as possible over 10 weeks.
...
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.

But what if nobody will sell back during the 9 weeks, but keep all the bought coins, waiting the price to be raised by the others ? Why to sell even 1 Wolf of the initial cheap purchase, if it could worth a fortune sometime?

Don't you think that a lot of people (or all !) could judge this way and, if so, the "game" will not work?

nope: https://poloniex.com/exchange/btc_wolf

[escrow.ms]

Just wanted to tell that, I know the real identity of InsanityDev ("Not personally") and I have done deal with him in past.

Ps: I am not taking any kind of guarantee of your investments but if anything bad happens I will release his real identity in public.

[northranger79510]

Hey Dev,

Would you keep selling at a price rate of .001 each week until after 9th week?

[InsanityDev]

Hey Dev,

Would you keep selling at a price rate of .001 each week until after 9th week?

Yes, the sell rate will not change, and after the 9th week there is no more supply of coins from me, unless it runs out quicker of course.

Please do read the section "questions" on the original post, it clarifies all of these details and additional questions you may have - if there's anything not covered, please do ask

[capsized]

Just wanted to tell that, I know the real identity of InsanityDev ("Not personally") and I have done deal with him in past.

Ps: I am not taking any kind of guarantee of your investments but if anything bad happens I will release his real identity in public.

Keeping my word and chipping in another 1.5BTC into the pot.
PM sent to pack leader.

Yeah, let's do this! 

[MsCollec]

I don't know why i cant get my transaction confirmed and the wallet is showing only 1 connection

[flaminius]

I have a question concerning multiple exchanges that I do not think has been asked yet but should be since it looks like there is a second exchange being added...

How will you be proportioning the pot?  For example, will it be an even split between however many exchanges there are (an equal share to be spent on each exchange), a split that is directly proportional to the volume on each exchange or some other relevant statistic, or will it be split purely on a whim, with no particular system in place?

And on a side note, am I correct in assuming that if I have the wallet running and setgenerate set to true (cpu mining), while there is no benefit to the mining per se, there is a benefit to the network by providing an additional distributed node to process transactions?

[InsanityDev]

How will you be proportioning the pot?  For example, will it be an even split between however many exchanges there are (an equal share to be spent on each exchange), a split that is directly proportional to the volume on each exchange or some other relevant statistic, or will it be split purely on a whim, with no particular system in place?

I must update the ANN, the second exchange is not being added, I was scammed by somebody pretending to be from coinmarket.io. For now it's only Poloniex, although perhaps others will add in the future (Cryptsy, McxNow, Coinedup).

For the time being, and probably all of the 9 weeks, we'll stick to Poloniex, that way Insanity Sundays will have more impact. Any change can be proposed or discussed by the community, if that is there's a strong valid reason for changing.

And on a side note, am I correct in assuming that if I have the wallet running and setgenerate set to true (cpu mining), while there is no benefit to the mining per se, there is a benefit to the network by providing an additional distributed node to process transactions?

Yes, please do, every little helps. There are a few high power rigs to support the network, one is on it all the time, and there's a warning if anybody tries to fork the block chain which kicks in another 5 very high power rigs, with yet more available on demand and prearranged

[BlackMarket]

I have a question concerning multiple exchanges that I do not think has been asked yet but should be since it looks like there is a second exchange being added...

How will you be proportioning the pot?  For example, will it be an even split between however many exchanges there are (an equal share to be spent on each exchange), a split that is directly proportional to the volume on each exchange or some other relevant statistic, or will it be split purely on a whim, with no particular system in place?

And on a side note, am I correct in assuming that if I have the wallet running and setgenerate set to true (cpu mining), while there is no benefit to the mining per se, there is a benefit to the network by providing an additional distributed node to process transactions?

this coin method only work for one exchange. maybe dev must remove second exchange.

[flaminius]

How will you be proportioning the pot?  For example, will it be an even split between however many exchanges there are (an equal share to be spent on each exchange), a split that is directly proportional to the volume on each exchange or some other relevant statistic, or will it be split purely on a whim, with no particular system in place?

I must update the ANN, the second exchange is not being added, I was scammed by somebody pretending to be from coinmarket.io. For now it's only Poloniex, although perhaps others will add in the future (Cryptsy, McxNow, Coinedup).

For the time being, and probably all of the 9 weeks, we'll stick to Poloniex, that way Insanity Sundays will have more impact. Any change can be proposed or discussed by the community, if that is there's a strong valid reason for changing.

Excellent. I was hoping that was the answer.  

[NWO]

I can confirm that I know the true identity of InsanityDev. If there is any wrongdoing/ fraud by the dev, I will happily release this information to the public.

[BlackMarket]

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

Consider what you are doing. Those coins are guaranteed to be bought for 3 BTC on Sunday. You have not made a loss, even though 10% fee has been lost. You still hold 3 BTC worth.

Think of this scenario:
one person buys all 900k coins. there is now 900 BTC in the pot.
that person destroys 899k coins. there is now only 1k WOLF with a value of 900 BTC.
that person transfers the 1k to poloniex, they lose 10%.
now on poloniex there are 900 WOLF worth 900 BTC, that are gauranteed to be bought for 900 BTC.
1 wolf = 1 btc at that point.
the person who bought all the coins, has he lost anything?

this is what i'm thinking

dev sell 0.001 BTC/coin
one person buys all 900k coins. there is now 900 BTC in the pot developer.
that person sell all 900k coins at price 0.002BTC. So, dev can only buy 450k with 900BTC in pot.(because only developer want to destroy this coin)
then dev destroy 450k coins. so, now still 450k coins total in that person.

can you explain this?

[InsanityDev]

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

Consider what you are doing. Those coins are guaranteed to be bought for 3 BTC on Sunday. You have not made a loss, even though 10% fee has been lost. You still hold 3 BTC worth.

Think of this scenario:
one person buys all 900k coins. there is now 900 BTC in the pot.
that person destroys 899k coins. there is now only 1k WOLF with a value of 900 BTC.
that person transfers the 1k to poloniex, they lose 10%.
now on poloniex there are 900 WOLF worth 900 BTC, that are gauranteed to be bought for 900 BTC.
1 wolf = 1 btc at that point.
the person who bought all the coins, has he lost anything?

this is what i'm thinking

dev sell 0.001 BTC/coin
one person buys all 900k coins. there is now 900 BTC in the pot developer.
that person sell all 900k coins at price 0.002BTC. So, dev can only buy 450k with 900BTC in pot.(because only developer want to destroy this coin)
then dev destroy 450k coins. so, now still 450k coins total in that person.

can you explain this?

First, that's already impossible as almost 50k coins have been bought.

Secondly, if that did happen, the person would not have lost any BTC, and they'd hold all the wolf in the world for free. They'd have 100% of their fee. (n.b. exchange site would have a small amount of course from exchange fee). Also they would probably still manage to sell some wolf on market or privately, so they'd likely make some profit. They could in fact repeat this whole exercise if they wanted to.

Finally, much as it's a little interesting, it cannot happen, and it's probably best to focus on situations are at least semi viable

[BlackMarket]

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

Consider what you are doing. Those coins are guaranteed to be bought for 3 BTC on Sunday. You have not made a loss, even though 10% fee has been lost. You still hold 3 BTC worth.

Think of this scenario:
one person buys all 900k coins. there is now 900 BTC in the pot.
that person destroys 899k coins. there is now only 1k WOLF with a value of 900 BTC.
that person transfers the 1k to poloniex, they lose 10%.
now on poloniex there are 900 WOLF worth 900 BTC, that are gauranteed to be bought for 900 BTC.
1 wolf = 1 btc at that point.
the person who bought all the coins, has he lost anything?

this is what i'm thinking

dev sell 0.001 BTC/coin
one person buys all 900k coins. there is now 900 BTC in the pot developer.
that person sell all 900k coins at price 0.002BTC. So, dev can only buy 450k with 900BTC in pot.(because only developer want to destroy this coin)
then dev destroy 450k coins. so, now still 450k coins total in that person.

can you explain this?

First, that's already impossible as almost 50k coins have been bought.

Secondly, if that did happen, the person would not have lost any BTC, and they'd hold all the wolf in the world for free. They'd have 100% of their fee. (n.b. exchange site would have a small amount of course from exchange fee). Also they would probably still manage to sell some wolf on market or privately, so they'd likely make some profit. They could in fact repeat this whole exercise if they wanted to.

Finally, much as it's a little interesting, it cannot happen, and it's probably best to focus on situations are at least semi viable

ok, thank you for the answer. i can't wait insanity sundays 

[Jdtmp4]

Hey guys. I know the Dev's real identity. If he ever tried to do a run with anything or do anything shady at all, I would release all of his information here. I personally trust him fully and do not think he would do anything bad at all.

[InsanityDev]

For the wary, that's 3 verifications from people with various trust ratings, and a few more to come, notably Poloniex, and a very respected and trusted member who I've traded with previously, and who I've also lodged formal id with (Full Drivers License).

Regarding Coin destruction after Insanity Sunday:

I had planned to move coins between two balance until all were destroyed, however I realised today I can simply withdraw them back to the main supply, then send one transaction equal to 10x the received amount. Example:

• I acquire 15,000 WOLF.
• I withdraw to the wallet (13636.36 WOLF + 1363.639 tx fee destroyed).
• Then I send one transaction for 136363 from-to the master wallet, the tx fee on which will be exactly 13636.36
• This way, in 2 transactions I can destroy the full 15,000 (13636.36+1363.639 = 14999.999)

BTC Pot is just under 49 BTC now for the first Insanity Sunday. I'm offline for the night shortly, with intermittent check ins over the next couple of hours.

[username here]

BTC Pot is just under 49 BTC now for the first Insanity Sunday.

This can only end in tears, I can't wait...