InsanityDev



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Full MemberActivity: 140Merit: 100 [ANN][WOLF] Project WOLF February 17, 2014, 03:43:24 PM

Last edit: May 15, 2014, 06:08:10 PM by InsanityDev #1 InsanityCoin

Democratic & Strong Coin for Investors and Traders

website: https://kiwiirc.com/client/irc.freenode.net/#insanitycoin | https://poloniex.com/exchange/btc_wolf



Development on Project WOLF has begun, see http://insanitycoin.com for details.

WOLF is now open to mine with a block reward, transaction fees are also reduced to 0.02 (from 10%), please update to the new windows-qt



Previously WOLF had a gamified distribution and coin destruction phase, generating over 1000 BTC in trading volume each week, and more than 6000 BTC volume over a 6 week period.

The WOLF supply was depleted from 1,000,000 coins to ~ 330k via aggressive coin destruction and 10% destructive transaction fees.

Of the coins in circulation, roughly 80k are in active circulation, with the rest either destroyed or held by long term investors.

Following a community meeting on 2014-04-06 the



WOLF has entered Phase Two - a coordinated 400 BTC+ market push to lift the price by 65% minimum and stabilize it at 0.0015 or higher.

The lift incorporates huge rolling BTC buy walls, starting at 9.2 BTC, growing quickly to 5 buy orders totalling 49 BTC, and then incrementally growing to 75 BTC.

Additionally 9-15 BTC is injected on to the market (used to buy up sell orders) as the buy walls increase.



Model

The remaining WOLF supply has been split in to 33 batches of 10,000 WOLF. Creating 33 distinct BTC pots.

The price of each batch is incremented by 0.00002, such that the first is available at 0.00092, the second 0.00094, and so forth.

As each batch is sold, a buy wall is created using the BTC on poloniex at 0.00001 less than the buy price, so walls are placed at 0.00091, 0.00093, and so forth.

A stack of 5 buy walls will be maintained on the market, as a new buy order is placed at the top, the lowest priced buy order is removed, and the BTC from it is used to buy up all the lowest sell orders.

All WOLF acquired by the buy walls and buy orders is destroyed, reducing the amount of WOLF in circulation. see the table below for a full breakdown of the model.



Objectives

smoothly transition from the gamified distribution phase to the long term model

create a strong market presence with substantial buy support for WOLF

enable 24/7 trading of WOLF

lift the value of WOLF in a sustained manner

support the flow of WOLF from weak hands to strong hands without damaging the market value

enable traditional trading, such that all on market and supply buyers/holders benefit, and allow additional trading strategies

incorporate optimal coin acquisition and destruction

mitigate attacks from self interested short term whales

Notes

Market and Supply are both active 24 hours a day

WOLF Batches are available consecutively, with no time limit, the supply depletes as fast as it is bought

BTC buy walls will maintain from 49 BTC growing to 74 BTC

Those leaving WOLF on the way up profit, but take a financial hit to get back on board as the supply price will be higher than their exit price

Creates an effective minimum market spread of 3000 satoshis, with supply price between.

Why buy from the supply?

Supply purchases effectively triple the weight of your purchase, even if at a particular time its marginally more expensive than on market, because:

The BTC you use to purchase becomes a buy wall

An equivalent amount of BTC is injected into the market to buy the orders you would have bought

The WOLF you would buy on market is bought anyway, and further its destroyed, so you know it cant come back to be sold again.

Coin Supply Status and Chart



Current Batch: 1, available ~6000.





Batch WOLF

Available Supply

Price BTC

Generated Buy Wall

Placed At BTC on

Order Book Buy Order

Placed (BTC) 1 10000 0.00092 9.2 0.00091 9.2 2 10000 0.00094 9.4 0.00093 18.6 3 10000 0.00096 9.6 0.00095 28.2 4 10000 0.00098 9.8 0.00097 38 5 10000 0.00100 10 0.00099 48 6 10000 0.00102 10.2 0.00101 49 9.2 7 10000 0.00104 10.4 0.00103 50 9.4 8 10000 0.00106 10.6 0.00105 51 9.6 9 10000 0.00108 10.8 0.00107 52 9.8 10 10000 0.00110 11 0.00109 53 10 11 10000 0.00112 11.2 0.00111 54 10.2 12 10000 0.00114 11.4 0.00113 55 10.4 13 10000 0.00116 11.6 0.00115 56 10.6 14 10000 0.00118 11.8 0.00117 57 10.8 15 10000 0.00120 12 0.00119 58 11 16 10000 0.00122 12.2 0.00121 59 11.2 17 10000 0.00124 12.4 0.00123 60 11.4 18 10000 0.00126 12.6 0.00125 61 11.6 19 10000 0.00128 12.8 0.00127 62 11.8 20 10000 0.00130 13 0.00129 63 12 21 10000 0.00132 13.2 0.00131 64 12.2 22 10000 0.00134 13.4 0.00133 65 12.4 23 10000 0.00136 13.6 0.00135 66 12.6 24 10000 0.00138 13.8 0.00137 67 12.8 25 10000 0.00140 14 0.00139 68 13 26 10000 0.00142 14.2 0.00141 69 13.2 27 10000 0.00144 14.4 0.00143 70 13.4 28 10000 0.00146 14.6 0.00145 71 13.6 29 10000 0.00148 14.8 0.00147 72 13.8 30 10000 0.00150 15 0.00149 73 14 31 10000 0.00150 15 0.00150 73.8 14.2 32 10000 0.00150 15 0.00150 74.4 14.4 33 10000 0.00150 15 0.00150 74.8 14.6

Details

ports : 55445 RPC (55446 P2P)

: 55445 RPC (55446 P2P) currency : WOLF

: WOLF prefix : W

: W github : https://github.com/insanitydev/insanitycoin

: https://github.com/insanitydev/insanitycoin windows-qt : http://ge.tt/api/1/files/2HZRUNK1/3/blob?download new stable thanks pompobit

: http://ge.tt/api/1/files/2HZRUNK1/3/blob?download mac-qt : http://ge.tt/api/1/files/2HZRUNK1/2/blob?download needs updated new stable thanks thesamson

: insanitycoin.conf : http://5.9.111.71/insanitycoin.conf

: http://5.9.111.71/insanitycoin.conf block explorer : http://5.9.111.71:2750/chain/InsanityCoin

: http://5.9.111.71:2750/chain/InsanityCoin exchange : https://poloniex.com/exchange/btc_wolf

: https://poloniex.com/exchange/btc_wolf nodes list : http://5.9.111.71/connections

: http://5.9.111.71/connections logo : https://raw2.github.com/insanitydev/insanitycoin/master/src/qt/res/icons/bitcoin.png (alternative: https://i.imgur.com/2TN6lBU.png thanks syrusek)

: https://raw2.github.com/insanitydev/insanitycoin/master/src/qt/res/icons/bitcoin.png (alternative: https://i.imgur.com/2TN6lBU.png thanks syrusek) bugs: https://github.com/insanitydev/insanitycoin/issues

Future

WOLF switches to Phase Two on 2014-04-07

WOLF switches to a low block reward but valuable mined coin on 2014-04-27

Removal of percentage based fee and replace with a traditional fixed 0.002 WOLF ( please discuss ) fee on 2014-04-27[/url]

) fee on 2014-04-27[/url] New long term clients released this week.

Feature and integration requests should be placed now.

Ordering

The master BTC Pot address is 15txQGhLmN133e2qBwGyXzKtYhHTchEy4g, pm the developer to order and check the current price, or to request a unique address for your transaction.

To calculate how much WOLF you will recieve: BTC_Amount/WOLF_Price e.g. 0.5 BTC/0.00094 = 531.91489361 WOLF for 0.5 BTC.

WOLF Orders will be processed every couple of hours each day, and buy walls on poloniex updated to represent the current state.

Developer Status: online website: http://insanitycoin.com/ | twitter updates: https://twitter.com/CoinInsanity Previously WOLF had a gamified distribution and coin destruction phase, generating over 1000 BTC in trading volume each week, and more than 6000 BTC volume over a 6 week period.The WOLF supply was depleted from 1,000,000 coins to ~ 330k via aggressive coin destruction and 10% destructive transaction fees.Of the coins in circulation, roughly 80k are in active circulation, with the rest either destroyed or held by long term investors.Following a community meeting on 2014-04-06 the proposed phase two was accepted and implemented.The lift incorporates huge rolling BTC buy walls, starting at 9.2 BTC, growing quickly to 5 buy orders totalling 49 BTC, and then incrementally growing to 75 BTC.Additionally 9-15 BTC is injected on to the market (used to buy up sell orders) as the buy walls increase.Supply purchases effectivelyof your purchase, even if at a particular time its marginally more expensive than on market, because:Current Batch: 1, available ~6000.The master BTC Pot address is 15txQGhLmN133e2qBwGyXzKtYhHTchEy4g, pm the developer to order and check the current price, or to request a unique address for your transaction.To calculate how much WOLF you will recieve: BTC_Amount/WOLF_Price e.g. 0.5 BTC/0.00094 = 531.91489361 WOLF for 0.5 BTC.WOLF Orders will be processed every couple of hours each day, and buy walls on poloniex updated to represent the current state. Coin: [WOLF] InsanityCoin : Must Read: Bizarre Shadowy Paper-Based Payment System Being Rolled Out Worldwide

CryptoCasino



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NewbieActivity: 34Merit: 0 Re: ANN: InsanityCoin February 17, 2014, 03:51:19 PM

Last edit: February 19, 2014, 04:59:12 AM by CryptoCasino #7 Quote from: salstimda on February 17, 2014, 03:47:00 PM i dont get it



I think the point of this coin is to deal with dump issues by adding a large transaction fee and then destroying those coins, so as coins are dumped 10% in demand by default is added. That's what I'm getting from the post anyway. Sounds interesting.



Edit: OneRareCoin said he created Proof Of Rarity before you and he made his thread a week before you and I checked and he actually did. thread:



this is his new thread for launch:



did you copy him? I think the point of this coin is to deal with dump issues by adding a large transaction fee and then destroying those coins, so as coins are dumped 10% in demand by default is added. That's what I'm getting from the post anyway. Sounds interesting.Edit: OneRareCoin said he created Proof Of Rarity before you and he made his thread a week before you and I checked and he actually did. thread: https://bitcointalk.org/index.php?topic=457462.0 this is his new thread for launch: https://bitcointalk.org/index.php?topic=473921.new#new did you copy him?

cryptohunter



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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG







LegendaryActivity: 2100Merit: 1167MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG Re: ANN: InsanityCoin February 17, 2014, 03:51:43 PM #8 no windows qt = dead.

https://bitcointalk.org/index.php?topic=1764757.0 https://bitcointalk.org/index.php?topic=2829282 https://bitcointalk.org/index.php?topic=4895354.0 https://bitcointalk.org/index.php?topic=5098315.0 https://bitcointalk.org/index.php?topic=5105851.0 https://bitcointalk.org/index.php?topic=5110041.0 MY RED TRUST WAS LEFT BY UNTRUSTWORTHY SCUM BAGS CHECK

salstimda



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MemberActivity: 98Merit: 10 Re: ANN: InsanityCoin February 17, 2014, 03:53:10 PM #9 where does the money come from to buy up all the sell orders?

vlight



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Hero MemberActivity: 657Merit: 500 Re: [ANN][WOLF] InsanityCoin - coin destruction February 17, 2014, 11:07:06 PM

Last edit: February 17, 2014, 11:43:19 PM by vlight #16 Basically this is the IPO of 900,000 BTC which are supposed to be given back to the owners of the InsanityCoin. The idea is to raise the market cap by injecting the BTC raised during the IPO back to the InsanityCoin. So, your coins invested will be spread to the other coin owners and you get less then you spent???



It is a bit confusing. Doesn't destroying coins actually destroys the value and so it decreases the market cap? Therefore you actually will not increase the price of the remaining coins?

AltcoinBull



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NewbieActivity: 58Merit: 0 Re: [ANN][WOLF] InsanityCoin - coin destruction February 17, 2014, 11:21:03 PM #18 Quote from: vlight on February 17, 2014, 11:07:06 PM Basically this is the IPO of 900,000 BTC which are supposed to be given back to the owners of the InsanityCoin. The idea is to raise the market cap by injecting the coins raised during the IPO back to the InsanityCoin. So, your coins invested will be spread to the other coin owners and you get less then you spent.



After 9 weeks when this IPO is finished it will be a free market. It is no different to how other coins pump but it will have help from the BTC reserves. After 9 weeks when this IPO is finished it will be a free market. It is no different to how other coins pump but it will have help from the BTC reserves.

Spoetnik



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FUD Philanthropist







LegendaryActivity: 1540Merit: 1010FUD Philanthropist Re: ANN: InsanityCoin February 17, 2014, 11:29:05 PM #19 Quote from: cryptohunter on February 17, 2014, 04:03:26 PM Quote from: InsanityDev on February 17, 2014, 03:59:48 PM Quote from: CryptoCasino on February 17, 2014, 03:51:19 PM Quote from: salstimda on February 17, 2014, 03:47:00 PM i dont get it



I think the point of this coin is to deal with dump issues by adding a large transaction fee and then destroying those coins, so as coins are dumped 10% in demand by default is added. That's what I'm getting from the post anyway. Sounds interesting.

I think the point of this coin is to deal with dump issues by adding a large transaction fee and then destroying those coins, so as coins are dumped 10% in demand by default is added. That's what I'm getting from the post anyway. Sounds interesting.

Pretty much yes - you'd have to be mad to dump it, as over the next 9 weeks all BTC will be used to buy back as much coin as possible to be destroyed. And every transaction destroys 10% of the coins sent. So the money supply always reduces, and the price always goes up.

Pretty much yes - you'd have to be mad to dump it, as over the next 9 weeks all BTC will be used to buy back as much coin as possible to be destroyed. And every transaction destroys 10% of the coins sent. So the money supply always reduces, and the price always goes up.

Yes the concept does seem different and perhaps not to bad, however how can you consider launching anything without a windows qt. You do realise windows users for the most part have no idea about compiling their own qt from source ?

Yes the concept does seem different and perhaps not to bad, however how can you consider launching anything without a windows qt. You do realise windows users for the most part have no idea about compiling their own qt from source ?

must have been an accident LOL

whooooopsy

sorry didn't mean to exclude windows users while i work hard at flash mining.. cough cough Max coin lol

naive much ?



PS:

OP maybe see a shrink instead of posting poorly cloned ponzi schemes ?

and please do tell us how many coins have you posted and how many forum account names have you made ? about 30mb worth in the forum db or what ?



keep it up smart guy.. all your going to do is piss off more and more of the guys who *used to mine crap like this.

people are already growing tired of idiot clone coin spammers.

there is the rope..

do what you will with it smart guy lol must have been an accident LOLwhooooopsysorry didn't mean to exclude windows users while i work hard at flash mining.. cough cough Max coin lolnaive much ?PS:OP maybe see a shrink instead of posting poorly cloned ponzi schemes ?and please do tell us how many coins have you posted and how many forum account names have you made ? about 30mb worth in the forum db or what ?keep it up smart guy.. all your going to do is piss off more and more of the guys who *used to mine crap like this.people are already growing tired of idiot clone coin spammers.there is the rope..do what you will with it smart guy lol FUD first & ask questions later