Topic: [ANN][WOLF] Project WOLF - page 94. (Read 131019 times)

There you go. I've put a 3BTC wall at 0.00109999. The reason why is because I already lost 300 coins transferring 3000 WOLF to Poloniex (from my wallet).

If anyone wants a way to quickly purchase WOLF, go ahead.

Your investment will promote coin destruction!

(Will be removed before sunday)

Thank you, but No.

One of the strengths of this coin is that supply diminishes whilst demand goes up, it becomes increasingly rare.

Fixed 0.001 pricing makes it far more likely that all coins will be purchased within the 9 weeks. Far more likely that some people will cycle through it for smaller profits. Far more likely that I can acquire and destroy more significant portions of the coin supply.

Consider this in 4.5 weeks time:
All the supply has been bought. ~250k coins have been bought back and destroyed, nobody can buy at 0.001 from me any more.
At this point we are in a situation where everybody knows that for the next 4-5 weeks 100 BTC per week of coin is going to be bought for sure. Meanwhile the coins in circulation is still reducing, the coin is added on coinmarketcap, and has had 4-5 weeks of solid exposure and discussion from you fellow traders. Do you imagine that coin going down over those weeks? Perhaps somebody will have xxK and dump them, but we know another 100 BTC order is coming.

Profits now are virtually guaranteed if you are at a lower price than the majority on a sunday. Major profits are not guaranteed, but are likely if you acquire and hold WOLF for longer. After those 9 weeks, anything can happen - I honestly have no idea.

Each trader has their own strategy, their own weaknesses, their own personal pressures, and will second guess themselves at some point as to when to hold, buy, and sell.

There is also the 24 week question, what will the price be. That, is the biggest question I have.

Price   WOLF   BTC
0.00109999   2727   2.99967273

Wow you are actually doing it.  I'm amazed that you actually bought 3 BTC worth and are now going to sell it for zero profit.

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

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. 

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

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

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.

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.

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.

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.

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.

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.

The coin is already released...

Add your coin to our altcoin calendar.

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.

who owns the genesis block coins

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

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.