Post
Topic
Board Announcements (Altcoins)
Re: [ANN][WOLF] InsanityCoin - destructive coin for investors and traders
by
ZeroK
on 19/02/2014, 18:37:20 UTC
what day/time will you be executing the trades over the weekend?  it should be the same each time so everyone can be prepared right?
The bump will be each Sunday at a random time between 18:00 to 23:59 UTC.

also, will there be transparency for each trade week.  So if you receive 50BTC this first week, how will we know you bought 50BTC worth of WOLF, and not 45BTC and pocketed 5 for yourself?

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.