Topic: [ANN][WOLF] Project WOLF - page 42. (Read 131023 times)

The uncertainty is the issue. If this plan had executed quickly (it's now been a week with no movement...which is a LONG time in the world of crypto. Everything is super volatile and the fact that nothing has happened in such a long time is rightfully scaring people) or had any kind of backing to it, then it may have worked. The fundamentals are sound and the issues with human nature that utopianfuture points out could have been mitigated had it moved quickly. But as you can see, people are worried that nothing will happen and their WOLF holdings will be worthless and that the other holders will sell for the remaning BTC on the buy side, and it pushed the price down. I'm partially responsible in that I sold some of mine into the .9 buy wall days and days ago (so now I'm "only" left with around 8000 WOLF) and I can't blame those who sold all the way down to .13 even though to me that's not worth it. But holders are pricing in the % chance they think this is going to work at this point and clearly some people are just trying to get out for whatever they can. And very few people are willing to buy in, because there's so much uncertainty that the dev has done a pretty poor job of mitigating.

It will take a buy up of the books below the .91 sell orders (about 5 BTC now) and then putting up the first buy wall to push the price up and then getting the next buy walls up, but even then, I anticipate people selling right through those very quickly.

In retrospect it would have been so much better to take the 80+ BTC from week 6's sunday and just used that for phase two rather than one last game play. Then I think it would have worked. Now, well, I'm not so sure.

I lost almost everything i got on this coins, that really sucks.

IMO, I think you may be missing how the uncertainty factor just cant be overcome in the minds of the needed majority, for this to play out as planned. Saying that, you can see people understand the plan, im just wondering if the 'necessary' amount, just isnt enough. I also think the amount of calculating an individual has to do with regards to trust, with your direct involvement, but more so, with other traders is probably too uncomfortable for most, and/or too unconventional, maybe. Theres nothing you could have done, but it was arguably the worst time to try something like this, as far as trust/buying interest/general sentiment is concerned.
Thats not taking anything away from your efforts here, as ive found it interesting to watch from a social trading experiment, point of view.  

You have something, just not sure it belongs here.     

 

i know i am a bit obscure and the concept itself is not easy to explain, so try to give it some thought:

1 - market needs to reach an equilibrium price to prevent dumpers and pumpers; market is not there yet.

my view of a reasonable price is 0.00006 (before mining, this is important).

2 - dev must make a profit from selling / buying (ie a seignorage fee) which will go back on the market.
3 - dev must act as a market maker and ultimate liquidity provider, for a price.

then you got yourself a market. What would then be needed is a purpose for wolf or a multipool to prop the price.
also, i see no reason why this coin should be scrypt based anymore, given the asics.

There needs to be something that forces people to buy from the dev. Just encouraging people and saying it'll be better in the long run doesn't work (even though it is better in the long run...).

So dev should either start selling less than the current price on Poloniex or a co-ordinated buy up of all the coins below 0.0009 needs to happen (with a promise of not to immediately dump those coins into the first buywall that appears).

the plan is good but the current market needs to clear and settle to an equilibrium price.

so, if the equilibrium price is 0.0003 than dev should start selling at 0.00032 and buy-back at 0.00028. Spreads should be high and painful to cross.

Yep.

Lost absolutely everything I made on 4 Insanity Sundays...

I barely broke even. Should have got out earlier whilst I still could. It's a shame because we could have kept things going if we bought from the dev earlier but absolutely no chance of that happening now with orders at 0.0006 on Poloniex and people who bought the cheap coins waiting to dump into any buy wall.

y3804 and blockchains were the two that undercut everybody (and each other) racing each other and everybody else to less and less profit. If either of them joined this phase properly it would be great, but they could also do as much damage as good depending on how much weight they bring, and how short term / selfish they trade. (No offence to either of you, in the game you played hard and well).


I'm 99.9% sure it wouldn't work, IG-unknown would dump at some point and you'd be left holding more than you want with your BTC out of the game.

As with all coins, it requires a number of holders and buyers to become strong. Hence the plan for this phase suggested.


Correct, It's the only viable way forward for us all.


Viable, the primary concern is having a strong chain, at the minute I pay for mining rigs to support the chain - but can't indefinitely as it's quite a cost each week out of my own pocket.

I'm missing InsanitySunday this week, and feeling a bit down to be honest - everything is down on every coin I personally hold, WOLF has been a time and money sink (although I'm still 100% behind it). I've decided to stop worrying about the other coins I hold and just wait it out, concentrating on WOLF (mentally/emotionally).

Open Question: I feel like I'm missing something, throughout my involvement with crypto's over the last few years, it's appeared to me that all each trader really wants is a dumpless coordinated pump, with no surprise dumps from people who got in really low or miners, and where the coin ends up with solid buy support that incrementally backs up any natural rises from new people joining the coin, thus ensuring a profit and ensuring stability of holdings. I was and am quite sure that this phase of WOLF provides that, so very surprised that the response has been so low. What am I missing here? Is there an obvious hole/exploit in the plan I'm missing, or do other traders prefer to leave it up to chance with random-alt, or?

I don't like this plan because of two reasons.
1. This must be done internal and without poloniex (IG1 buys entire 0.00092 supply and sell back internal at 0.00093, IG2 buys entire 0.00094 supply and sell back internal at 0.00095 and so on). Otherwise if it wasn't internal, some bagholders would dump the WOLF into the buy walls and this wouldn't work.
2. With this you could raise the price to 0.0015 of course, but then at 0.0015 there wouldn't be any buy walls left because IG1/IG2 would have to sell the WOLF back into the previous buy walls up to 0.0015. So there wouldn't be a stablilisation and protection to ensure that there isn't a dump after reaching 0.0015.


This idea is much better I think. So we could work together. We plegde an amount of BTC to the dev. He collects all the pledges and if there is enough BTC to buy for example at least the first 3 batches at once, we will have a strong buy wall of 30 BTC on poloniex. This would ensure that the walls sustain the dumps and the game can start.
So if anybody is interested in this concept he should write his plegde to the dev, so he can collect all the pledges and make a big buy (simulating a big investor).
I've already wrote him my pledge. If the remaining people do the same, this will work.


And some suggestions for the future plans.
I think this coin shouldn't become mineable after the 9 weeks.
1. It would be better if this became a POS coin. So people are only able to join within the supply phase (so people are forced to join now within the supply phase, which could lead to more buy interest) After the supply phase the coin becomes a POS coin.
Stats for example:
PoS block generation after 1 day of holding,
Interest (annual rate) per year: 10%
2. Create a multipool for WOLF, so it would be possible to mine this coin and also increase the buy interest in WOLF (for this all bagholders should plegde/donate some WOLF for the creation).

Really happy that you are back! We really need an additional investor to get the whole plan starting. For a plan, please see the message of domtasc3:


The plan seems good, but we'll need some more people buying in along the way, and we need some original investors. I hope you can help with this! When do you think your BTC will free up? I refuse the sell below my buying price, but will buy from the Dev the moment I sell the coins I own at the moment. This will be max around 0.001 (some at 0.00094 or below as well). If we work together, we can start moving the coin up!

The positive thing in this dump is that people willing to dump and destroy the future of this coin are getting out.
Hopefully the people buying at these low prices know to hold on to it and not to sell under dev price.
Once the undercutters are gone _maybe_ people dear to buy from dev again.

How many total now left WOLF，How much destruction before the six weeks of WOLF

The problem I see with this coin is that it was too centralized, leaving one person to control all the wolf to burn. In addition to it having nearly no innovation except the burning concept.

If we set up a merchant they would have to price it to take in account the burn tax, but at least the coin would stop dropping in price because there would be utility for it.

What would be a good store to accept Insanity Coin?

One problem is that there are too many Wolf coins to play at the 0.001 buy in price.  We hit that tipping point and this happened.

If only there was a way to burn coins.  It would be nice if there was a way to establish ways of using the coin that will lead to some of them being burned.

You can officially as a coin move into the stabilization and regrowth phase.  (growth through burning)  Uses for the coin would be established while at the same time reducing the supply of coins.

Eventually as the coin becomes rarer, and if there are still merchants to buy things with it, the price should rise.  When it reaches a certain point the next round of Wolf can begin.

My BTCs are still locked on Bitfinex. Once we get a few more investors in with a good plan, we should be able to keep the game going. Weak hands will sell below 0.0006.

I made about 4 BTC in the first 5 weeks. Should've left it at that. I'll end up breaking even, basically. But could have been so much better.

Loose almost a btc whit this coin, insanity shit.

The Dev didn't buy up the book during one of the "events."

THIS CHANGES EVERYTHING: http://InsanityCoin.com