Re: [ANN][WOLF] InsanityCoin - destructive coin for investors and traders
Does the price given change every week, or stay the same?
Stays the same
So yes, you can sell a small percentage back for BTC and re-buy at base price of 0.001 to increase your holdings. This depletes the money supply faster and drives real coin price up higher and faster.Also, doesn't the fact that sellers will compete to have their coins be the ones that are bought back mean the exchange price will get dragged down to the price they bought at, or, if people get desperate, even lower?
If they get desperate, there are orders on market to accommodate dumps.
No single person holds enough to push the price down, the amount being bought in BTC is known, so even if somebody puts 4000 up for sale at 2% gain, the next best order may be 1 coin for 5 BTC and it'll get fully bought too.
Will be interesting to see how people play it, and if approaches change each week.
EDIT: What time and date is the weekly buy back going to happen?
Over the weekend, no specific time so as to give nobody an advantage, it'll be obvious when it happens.
Great questions, thanks!