Re: [ANN][WOLF] InsanityCoin - coin for investors and traders

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

Consider what you are doing. Those coins are guaranteed to be bought for 3 BTC on Sunday. You have not made a loss, even though 10% fee has been lost. You still hold 3 BTC worth.

Think of this scenario:
one person buys all 900k coins. there is now 900 BTC in the pot.
that person destroys 899k coins. there is now only 1k WOLF with a value of 900 BTC.
that person transfers the 1k to poloniex, they lose 10%.
now on poloniex there are 900 WOLF worth 900 BTC, that are gauranteed to be bought for 900 BTC.
1 wolf = 1 btc at that point.
the person who bought all the coins, has he lost anything?

this is what i'm thinking

dev sell 0.001 BTC/coin
one person buys all 900k coins. there is now 900 BTC in the pot developer.
that person sell all 900k coins at price 0.002BTC. So, dev can only buy 450k with 900BTC in pot.(because only developer want to destroy this coin)
then dev destroy 450k coins. so, now still 450k coins total in that person.

can you explain this?

First, that's already impossible as almost 50k coins have been bought.

Secondly, if that did happen, the person would not have lost any BTC, and they'd hold all the wolf in the world for free. They'd have 100% of their fee. (n.b. exchange site would have a small amount of course from exchange fee). Also they would probably still manage to sell some wolf on market or privately, so they'd likely make some profit. They could in fact repeat this whole exercise if they wanted to.

Finally, much as it's a little interesting, it cannot happen, and it's probably best to focus on situations are at least semi viable