[ANN][WOLF] Project WOLF

[y3804]

Current BTC pot for week #2?

I'll PM you this week for another buy

[InsanityDev]

Current BTC pot for week #2?

I'll PM you this week for another buy

1.6 3.6 4 so far with ~10 BTC pending for today via async email conversations.

[lti4301]

I'm can not connect pool.....any another pool?

[mmihai1978]

The trust in the value of a coin (not a price, it having value) is the main thing missing for the crypto community at large, so many people will sell at any cost, even a loss, spiralling the death of their own investments. Imagine what would happen if the majority decided a coin was valuable, they would hold, place orders higher and higher than each other, demand would rise and value would rise. The thing which kills most cryptos is the holders having no belief in the thing they hold having value.

1200 years of backing in gold / silver then oil and goods tend to work wonders for the value of a coin.

A crypto coin with full reserve in fiat might work the same. For now, using electricity as proxy of the "gold standard" is the best we got. And it's not that bad as it could have been.

Raising the price of the supply ensures exponential decline, it would just be people dumping on the subsequent buyers each week, this is why most coins fail.

So if I read you right, you are saying that a new coin should start difficult and decrease in difficulty until a critical mass of adopters / implicit value is reached, and then diff should again increase?

--

On a lighter note, I give you the official shirt of this coin

[Philll90]

We are only 7 days in, we will definitely keep things as they are now for a few weeks. 9 weeks is a long time for some, and not long for others, you tend to find the first 3 months is when weak hands get out of coins, letting investors get in cheap, so IMHO 9 weeks certainly is not long.

I agree with that. I think 9 weeks is a good (in my opinion the best) timeframe. I think this coin needs some weeks to get a bit more established and known by more people.
Only 4 or 5 weeks could mean the dead of this coin after the supply ends because the coin isn't enough established.

I don't think 9 weeks is a long time. BTW I like the whole concept, for me it looks perfect and well-conceived as it is.

[InsanityDev]

The trust in the value of a coin (not a price, it having value) is the main thing missing for the crypto community at large, so many people will sell at any cost, even a loss, spiralling the death of their own investments. Imagine what would happen if the majority decided a coin was valuable, they would hold, place orders higher and higher than each other, demand would rise and value would rise. The thing which kills most cryptos is the holders having no belief in the thing they hold having value.

1200 years of backing in gold / silver then oil and goods tend to work wonders for the value of a coin.

A crypto coin with full reserve in fiat might work the same. For now, using electricity as proxy of the "gold standard" is the best we got. And it's not that bad as it could have been.

Value comes from agreement of value, if we all decide gold is valuable, it is. Mint Chip may be interesting in the future, to see what a countries Mint does with crypto. Electricity (work), or stake/burn are all approaches, there are many others not yet codified yet also, hashing as a commodity over blockchains of data may yet arise, ethereum starts in this direction. Very interesting, but a tangent I fear.

Raising the price of the supply ensures exponential decline, it would just be people dumping on the subsequent buyers each week, this is why most coins fail.

So if I read you right, you are saying that a new coin should start difficult and decrease in difficulty until a critical mass of adopters / implicit value is reached, and then diff should again increase?

not at all, I'm saying that if I sold to you today for 0.001, and bob tomorrow for 0.002, the odds are very high that you would try and sell your coins to alice, perhaps for even less than 0.002. Over a week of price rises, we would see nobody buying from supply any more, and we'd see the price drop exponentially as people clutched to undercut each other to keep some level of profit, however small. So changing the price week on week is not something which I feel is good for WOLF.

love the t-shirt, I may just buy one and post a pic of myself in it if this project succeeds.

ps: pot at 12.5 13 BTC and rising.

[mmihai1978]

this is exactly what we were talking in irc on Friday: we were sure you will sell WOLF at least worth of 150 btc this week so the amount of wolf chasing 100 btc next Sunday will be at least 200k (counting 1st week sales). Next Sunday should also be interesting .

i'd say the average profit next week will not exceed 20% (please note I have a very poor track record on all my forecasts ; mining quickly 0.05 of an obscure coin (named bitcoin) in 2011 and dismissing it as a fad was one of them).

[InsanityDev]

BTC Pot at ~13 BTC at the very start of week 2, offline from here, will return tomorrow am UTC to process orders.

[flaminius]

I'm quite happy with things just as they are, and started playing this game under the original conditions set by the dev. I think it should go on as announced and as planned for the first 9 weeks, and then see where we're at. Nine weeks (or less, if the coins sell out sooner) is a very short amount of time for complete dispersal of all coins, especially for a coin that we don't have to spend time mining. Compared to months or even years for some coins just to reach a halving point, let alone the complete volume of coins in circulation,  the timeframe for WOLF is tiny (I mean really, up to 6 hours a day of trading one day a week for up to 9 weeks... that's nothing).

I also really like that the price from the dev does not change until there are no more coins left, which gives everybody equal opportunity to get in for hopefully at least a few more weeks, instead of having a small percentage of people who manage to instamine the shit out of it at release, usually while the majority of people are still trying to get wallets downloaded and pools connected. It is a system that does not favour those with massive hashing power, and though you do need some BTC to play, you don't need a lot. Insanity Sundays allow an opportunity to make a bit of money and have a bit of excitement while we wait for the coins to be fully dispersed/destroyed, and we'll be able to see firsthand what happens to a coin once there is no more supply. Will value skyrocket due to scarcity, or will it fizzle and die after nine weeks without the Sunday buys? It'll be interesting to see, and I'm looking forward to it.

It's a fun game so far, and only a week in. Let's just leave the parameters as they are and as the dev originally intended until this whole thing plays out. After all, the validity of the results of an experiment like this go completely out the window if you start changing shit halfway through. For those who think things should be done differently, feel free to go develop your own coin to your own specifications and run your own experiment. In a nutshell, if you don't like the way the game is played, go play a different game rather than trying (or "suggesting") to change the rules more to your liking.

[Philll90]

I'm quite happy with things just as they are, and started playing this game under the original conditions set by the dev. I think it should go on as announced and as planned for the first 9 weeks, and then see where we're at. Nine weeks (or less, if the coins sell out sooner) is a very short amount of time for complete dispersal of all coins, especially for a coin that we don't have to spend time mining. Compared to months or even years for some coins just to reach a halving point, let alone the complete volume of coins in circulation,  the timeframe for WOLF is tiny (I mean really, up to 6 hours a day of trading one day a week for up to 9 weeks... that's nothing).

I also really like that the price from the dev does not change until there are no more coins left, which gives everybody equal opportunity to get in for hopefully at least a few more weeks, instead of having a small percentage of people who manage to instamine the shit out of it at release, usually while the majority of people are still trying to get wallets downloaded and pools connected. It is a system that does not favour those with massive hashing power, and though you do need some BTC to play, you don't need a lot. Insanity Sundays allow an opportunity to make a bit of money and have a bit of excitement while we wait for the coins to be fully dispersed/destroyed, and we'll be able to see firsthand what happens to a coin once there is no more supply. Will value skyrocket due to scarcity, or will it fizzle and die after nine weeks without the Sunday buys? It'll be interesting to see, and I'm looking forward to it.

It's a fun game so far, and only a week in. Let's just leave the parameters as they are and as the dev originally intended until this whole thing plays out. After all, the validity of the results of an experiment like this go completely out the window if you start changing shit halfway through. For those who think things should be done differently, feel free to go develop your own coin to your own specifications and run your own experiment. In a nutshell, if you don't like the way the game is played, go play a different game rather than trying (or "suggesting") to change the rules more to your liking.

+1

[InsanityDev]

I'm quite happy with things just as they are, and started playing this game under the original conditions set by the dev. I think it should go on as announced and as planned for the first 9 weeks, and then see where we're at. Nine weeks (or less, if the coins sell out sooner) is a very short amount of time for complete dispersal of all coins, especially for a coin that we don't have to spend time mining. Compared to months or even years for some coins just to reach a halving point, let alone the complete volume of coins in circulation,  the timeframe for WOLF is tiny (I mean really, up to 6 hours a day of trading one day a week for up to 9 weeks... that's nothing).

I also really like that the price from the dev does not change until there are no more coins left, which gives everybody equal opportunity to get in for hopefully at least a few more weeks, instead of having a small percentage of people who manage to instamine the shit out of it at release, usually while the majority of people are still trying to get wallets downloaded and pools connected. It is a system that does not favour those with massive hashing power, and though you do need some BTC to play, you don't need a lot. Insanity Sundays allow an opportunity to make a bit of money and have a bit of excitement while we wait for the coins to be fully dispersed/destroyed, and we'll be able to see firsthand what happens to a coin once there is no more supply. Will value skyrocket due to scarcity, or will it fizzle and die after nine weeks without the Sunday buys? It'll be interesting to see, and I'm looking forward to it.

It's a fun game so far, and only a week in. Let's just leave the parameters as they are and as the dev originally intended until this whole thing plays out. After all, the validity of the results of an experiment like this go completely out the window if you start changing shit halfway through. For those who think things should be done differently, feel free to go develop your own coin to your own specifications and run your own experiment. In a nutshell, if you don't like the way the game is played, go play a different game rather than trying (or "suggesting") to change the rules more to your liking.

+1

Thank you, I also agree.

Online for now, however I'll be out with my wife for a few hours during the day today. BTC Pot after monday is 15 BTC with multiple orders due.

[y3804]

Can't draw my BTCs out of Poloniex. Would have invested in a blink, but now with a small delay...

[BlackMarket]

Can't draw my BTCs out of Poloniex. Would have invested in a blink, but now with a small delay...

my btc in poloniex too 

[JTB800]

Value comes from agreement of value, if we all decide gold is valuable, it is. Mint Chip may be interesting in the future, to see what a countries Mint does with crypto. Electricity (work), or stake/burn are all approaches, there are many others not yet codified yet also, hashing as a commodity over blockchains of data may yet arise, ethereum starts in this direction. Very interesting, but a tangent I fear.

Oh, I had never heard of Mint Chip -- very interesting. It seems like it is just like Ripple. Or, I guess to be more accurate, what Ripple is trying to be. And with the backing of Canada (or, in another future case, any semi-serious government), Ripple would have trouble competing.

Quite frankly, any crypto-currency would find it nearly impossible to compete. The average person, who as of now only vaguely knows what BTC is (at best), will almost certainly gravitate toward a well-known fiat over something that is a bit ethereal. And let's not even get into explaining, to the average person, blockchains, hash rates, forks and AMD 7950 cards!

At any rate, that Mint Chip is an experiment worth watching.  

[iwillimust]

The other night in the InsanityWolf chat room people where planning on going to all the different trollboxes and chatrooms for various exchanges and tell everyone

[y3804]

Can't draw my BTCs out of Poloniex. Would have invested in a blink, but now with a small delay...

my btc in poloniex too 

Withdrawn. Poloniex works fine now.

[InsanityDev]

The other night in the InsanityWolf chat room people where planning on going to all the different trollboxes and chatrooms for various exchanges and tell everyone

Thank you for letting us know, in immediate response we put out a PSA at the time. I am unaware of anybody actually doing this though, and have heard no negative responses to Insanity Coin from anywhere as yet

my btc in poloniex too 

Withdrawn. Poloniex works fine now.

Poloniex added some safe guards last week which immediately lock down all withdraws if anybody tries to withdraw an above average amount, in order to keep all out crypto safe - this can sometimes cause a small but worthwhile delay

Pot at almost 20 BTC and counting, back at the pc for the rest of the day.

[CryptoAdvisor]

Isn't it cheaper to buy from the exchange? Doesn't a 10% transaction fee really make the price of buying here .0011, while it's only .00103 on poloniex? Maybe I'm seeing this wrong.

[InsanityDev]

Isn't it cheaper to buy from the exchange? Doesn't a 10% transaction fee really make the price of buying here .0011, while it's only .00103 on poloniex? Maybe I'm seeing this wrong.

No, if you buy 1000 for 1 BTC from me you receive 1000 - I actually send 1100, 100 of which is destroyed by the transaction fee.

[r0b1nuk]

no the chap is right because then you send it to the exchange and lose another 10% your right it is cheaper to buy from exchange as you wont incur that charge.