[ANN][WOLF] Project WOLF

[InsanityDev]

There is no ideal time, this one covers Europe+Americas+Africas, with friends who are early risers and late sleepers in australia+china. So unless anybody can propose a better time set taking everyone in to account worldwide, we may be best to stick to this.

Historically (having worked online for years) this is the time I find most of my international contacts online with various stages of tiredness.

[1713961774]

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[XbladeX]

How buy Wolfs?
I think is better transfer it to direct Poloniex adress?

[capsized]

Sold at 0.0022 fuk im good

Expect for next week, a lowest hight, since a lot will be stucked with coins, and will starting to stress, and put low sell orders , just to be sure they are filled.

Some factors can change this like : Non topic buyers from poloniex buying above 0.001

Also, what just occurred to me: The maximum weekly potsize is 100BTC but the dev can sell more than that if there is demand.
The overflow BTC will carry over to next week's pot, but there will be far more WOLF in circulation during that week.

Even if we stay below the maximum pot every week, the amount of WOLF in circulation will still rise making the fight for the pot more fierce every week.
Or have I overlooked something?

I don't think that we will see prices dive below 0.01 yet next week yet, but with every week the pressure will rise for holders to liquidate their wolf. At any price.
That can cause people to acquire WOLF from the market instead of the dev, which then again will cause the pot to stagnate, causing deflation and dev supporting the markets on the exchange...

Omg, we are simulating a real world economy here! And dev is the federal reserve...  

[InsanityDev]

Also, what just occurred to me: The maximum weekly potsize is 100BTC but the dev can sell more than that if there is demand.
The overflow BTC will carry over to next week's pot, but there will be far more WOLF in circulation during that week.

Even if we stay below the maximum pot every week, the amount of WOLF in circulation will still rise making the fight for the pot more fierce every week.
Or have I overlooked something?

I don't think that we will see prices dive below 0.01 yet next week yet, but with every week the pressure will rise for holders to liquidate their wolf. At any price.
That can cause people to acquire WOLF from the market instead of the dev, which then again will cause the pot to stagnate, causing deflation and dev supporting the markets on the exchange...

Omg, we are simulating a real world economy here! And dev is the federal reserve...  

Yes, you are missing multiple factors detailed below:
Significantly it doesn't factor in 9/10/24 week holders, or those trying to exponentially grow their wolf holdings, it only factors in the weekly market traders looking for quick bitcoin.
https://bitcointalk.org/index.php?topic=471166.msg5245164#msg5245164
https://bitcointalk.org/index.php?topic=471166.msg5267129#msg5267129

Ultimately if everybody is trying to grab BTC quickly then your statement is partially validated, but even based on one week results the opposite appears to be happening, and those who are grabbing BTC are back for more quickly, depleting the supply faster, forcing benefit for the longer holders. Every sell order is a sensible buy order, from somebody who feels the price will go higher, and often who is willing to put in far more BTC than the seller is trying to get out as profit.

It's very interesting, and we may yet see a sub 0.001 price on market, which strangely would force the opposite to happen longer term, it would speed the process and bring new money grabbing discounted wolf.

My personal theory is that low profit greed and weak hands will create big profits longer term for wolf holders, and that it all pivots on how quickly the money supply is depleted. If you knew you could not get any more wolf tomorrow for 0.001, and that 100 BTC was being pumped in for the next few weeks, along with usual traders and investors, and a 10% tx fee, and massive coin destruction each week, would you sell?

Time will tell though!

[Frogcoin]

How buy Wolfs?
I think is better transfer it to direct Poloniex adress?

Yes, this is 10% better, and there's no reason not to.

[RJX]

I want in! 

Solo-mining just showed I found a block but nothing shows in wallet. How does this work anyway, is it 100% premined and you just buy of poloniex?

I don't get it, I read OP but still I don't understand how to get into the action.

If I buy from poloniex, at 0.01 and wait untill next sunday, dev will fill orderbook with the pot and it's up to me how high a sell order I put in and then hope pot-buy will hit my price?

[NWO]

I want in! 

Solo-mining just showed I found a block but nothing shows in wallet. How does this work anyway, is it 100% premined and you just buy of poloniex?

I don't get it, I read OP but still I don't understand how to get into the action.

If I buy from poloniex, at 0.01 and wait untill next sunday, dev will fill orderbook with the pot and it's up to me how high a sell order I put in and then hope pot-buy will hit my price?

Directly from the OP.

scrypt - 0 block reward, 0 mining fees - 3 minute blocks - 12 hour retarget - 5 confirmations

[RJX]

I want in! 

Solo-mining just showed I found a block but nothing shows in wallet. How does this work anyway, is it 100% premined and you just buy of poloniex?

I don't get it, I read OP but still I don't understand how to get into the action.

If I buy from poloniex, at 0.01 and wait untill next sunday, dev will fill orderbook with the pot and it's up to me how high a sell order I put in and then hope pot-buy will hit my price?

Directly from the OP.

scrypt - 0 block reward, 0 mining fees - 3 minute blocks - 12 hour retarget - 5 confirmations

Yea you're a real peach pointing that out.

Now how about some helpful information?

[CryptoCasino]

I want in! 

Solo-mining just showed I found a block but nothing shows in wallet. How does this work anyway, is it 100% premined and you just buy of poloniex?

I don't get it, I read OP but still I don't understand how to get into the action.

If I buy from poloniex, at 0.01 and wait untill next sunday, dev will fill orderbook with the pot and it's up to me how high a sell order I put in and then hope pot-buy will hit my price?

Directly from the OP.

scrypt - 0 block reward, 0 mining fees - 3 minute blocks - 12 hour retarget - 5 confirmations

Yea you're a real peach pointing that out.

Now how about some helpful information?

If you want some wolf you have to buy from dev for 0.001 or you can buy from exchange.

[JTB800]

I want in! 

Solo-mining just showed I found a block but nothing shows in wallet. How does this work anyway, is it 100% premined and you just buy of poloniex?

I don't get it, I read OP but still I don't understand how to get into the action.

If I buy from poloniex, at 0.01 and wait untill next sunday, dev will fill orderbook with the pot and it's up to me how high a sell order I put in and then hope pot-buy will hit my price?

Directly from the OP.

scrypt - 0 block reward, 0 mining fees - 3 minute blocks - 12 hour retarget - 5 confirmations

Yea you're a real peach pointing that out.

You can't be bothered to read for yourself and then you respond with sarcasm when you get an answer?

Jeez, we need more people at your intelligence level in this coin! Hop aboard, you real "peach" you!

Now how about some helpful information?

[adent]

Sorry if this was discussed before, but how can I now buy directly from dev for 0.001?

[profitus]

Sorry if this was discussed before, but how can I now buy directly from dev for 0.001?

Discuss with dev through PM

[adent]

Thank you.

[InsanityDev]

week two begins

Hello Wolves,

First a big thank you to everybody who took part in the first Insanity Sunday, it was very interesting. I'd also like to apologise for being a bit later to the computer today, was feeling a bit worn and sleep deprived with ill children around, so decided to take an extra couple of hours to start the week feeling a bit better!

1) I require a couple of windows 7 & mac OS insanitycoin-qt testers, please pm me for links to the new qt's and details.

2) Considering the amount of interest in WOLF, I'm going to start developing support resources for the community, starting with a website to provide full details on the insanity project, clients, statistics, pot totals, weekly results, and hopefully an automated supply.

3) The 9 week model may need some tweaks to ensure it works optimally in the long term, if I have any tweaks I'd like to propose I'll let you all know over the coming weeks and request feedback/votes, for now every continues as planned.

Finally, I'll be opening up the WOLF supply again shortly, and will update the Purchase section of the Ann with a new pot address for this week.

Regards to you all at the start of week two.

[BlackMarket]

yes, you must create website about insanitycoin and this is important.
when i can see coin destroyed for first week?

[InsanityDev]

yes, you must create website about insanitycoin and this is important.
when i can see coin destroyed for first week?

Total to Destroy: 43940.88047998
destroyed: 363.36363636
destroyed: 39946.5277091
Remaining: 3630.98913454 (will update)

You can see the money supply decreasing here, and again here

Poloniex has a cap on 5000 WOLF withdraw per day per account which means I cannot withdraw the full balance yet, I have asked him to remove this cap from my account, which he is doing, and I'll update later today with the final transaction id's showing the destruction of the last ~3630.

[flo_k]

Weren't 10% automatically destroyed when you withdrawn them from Poloniex?

[InsanityDev]

Weren't 10% automatically destroyed when you withdrawn them from Poloniex?

That's the amount which has not been destroyed yet (<4k), because I can't withdraw until Poloniex update my account to allow withdraws higher than 5000 WOLF. As soon as tristan makes the change I'll update the results post with the tx-id of the final percentage being destroyed The majority ~40k has already been destroyed, see the results thread listed below. all destroyed.

Week 1 results: https://bitcointalk.org/index.php?topic=471166.msg5323853#msg5323853

reminder: I need windows 7 and mac testers for the new qt clients

WOLF supply open again.

[flo_k]

Could you update the new windows-qt link in OP? It seems to be the old one there.

[InsanityDev]

Could you update the new windows-qt link in OP? It seems to be the old one there.

please test http://www.mediafire.com/download/fm8h48rkp38ad12/insanitycoin-qt.zip first and once I've had confirmation it doesn't error on close for people I'll update the links - mac wallet being tested now.