Post
Topic
Board Announcements (Altcoins)
Re: [ANN][WOLF] InsanityCoin - coin for investors and traders
by
InsanityDev
on 03/03/2014, 13:47:53 UTC
DEVELOPER UPDATE

Game Change
Repeating in case anybody missed it.

Decision
I want to change this back over two weeks to how it was.

Week 3
I will be buying and selling, making whale moves in both directions, and the spread will change up and down over several hours. Those playing will make the most money for the week by buying and selling, and focussing what I, the whale, am doing. Expect no huge bumps, just a volatile market where active traders will make profit... obviously a fair chunk of buy orders will be filled in the process though.

Week 4 - Supply End
The time will change from a fixed 6 hours, to me trading with the pot at any time whilst the supply is closed. 12:00 Sunday to 10:00 Monday.

Supply End - Week 9
Bump, at a random time each weekend, 100 BTC will buy up the book in a single order as high as it will go.

I've changed parameters based on feedback several times, it's made the game more boring, getting back to roots now

update

Onwards!
This week is focussed on getting the website and information resources ready, along with defining the after-game block chain chain parameters.

On the last insanity sunday a market determined value of wolf will be established, with cap etc, at that point the game is over and we need the coin to be stable at it's core for all holders and users.
The current proposal is:
  • KGW or a slight modification of it
  • removal of percentage based fee, replace with a traditional fixed 0.002 WOLF fee
  • a block reward of 0.48 WOLF for weeks 9-26 (total of 17 weeks, this would produce 27417.6 WOLF, 1612.8 per week)
  • a block reward of 0.24 WOLF for weeks 26-52 (this would produce 20966.4, 806.4 per week)
  • a permanent block reward of 0.12 WOLF after week 52 (this would produce 20966.4 per year)
previous discussion starts around here: https://bitcointalk.org/index.php?topic=471166.msg5448417#msg5448417

Long Term

Now that we are entering the mid-game, would now the time to enlighten us with your future plans?

It will make a big impact on peoples decision whether to continue playing every week.
If there is the risk that I can't get rid of my WOLF with profit on Sundays, I'd like to have a positive outlook on the future of the coin.

I'd love to enlighten you all, I have mentioned several things in previous posts on this thread. There are a number of features which will potentially be rolled out, in which order, or which ones make the cut remain to be seen.

Generally, I'll be looking at migrating crypto currencies over to the web, first by boostrapping a number of key elements like the block chain, mining (in browser, perhaps as an alternative to the advert sponsored web), secure browser side web wallets & extensions, anonymous key pair authentication, distributed exchange, trade chains (like block chain but for exchange trades over different block chains), etc.. then there's the other side (wolf pack) which could cover anything from a decentralized whale (pack of traders voting on which trades to make acting as a whale, gamified), voting with currency and similar

So that gives a rough idea, I've been prototyping and planning for a few years now, my choice came down to creating a monster all in one like vitalik has with ethereum, or doing things iteratively on a working coin, adding features naturally so people can see their utility (or non-utility). I felt there was a need for a trading game, or coin that wasn't held by miners, and one thing naturally led to another and this felt like a natural path for me to take.

First though, comes the website and utilities on it to get measures on WOLF (coin supply, results, pot size, perhaps automated issuing of coins, etc), working on that this week.

n.b. there is a proper test chain also to test features on.

hope that helps.

edit: please do bear with me, we're only 14 days in though, it's been huge so far, I've done 300 posts,  30+ pages of in depth discussion, even more pms, over 100 traders and investors, 300 BTC of business, organised trading events, planning, maintenance etc, it's growing exponentially fast, and taking up 20 hours a day at the minute. I'm doing my very best to ensure this goes well for all.

Website and Information Resources
Please reply/pm/email any feature requests you have for the website. The obvious such as information, updates, weekly results, pot sizes, coin supply, general information, will of course be handled.

WOLF Supply is open again, same address as last week, ann updating now.