Post
Topic
Board Announcements (Altcoins)
Re: ANN: InsanityCoin
by
InsanityDev
on 17/02/2014, 15:59:48 UTC
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.

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.