Post
Topic
Board Announcements (Altcoins)
Re: [ANN][WOLF] InsanityCoin Phase Two - coin for investors and traders
by
capsized
on 14/05/2014, 21:39:31 UTC
First and most importantly, I used 0.65 BTC from the funds about a week ago to pay for the wolf mining rig for the week, as frankly I'm out of crypto myself and holding alts which are all down in value, I'm also currently in the process of migrating to a new bank account so cannot replace it for a couple of days. By saturday, monday at the latest I'll have personal BTC again and will replace the 0.65. I should have updated the thread and asked before hand, I can only apologise, a stupid decision on my own part.
That is not the full story.
Again, why have ALL the funds been moved on May, 5th?
Not just 0.65 BTC. But 5.0 BTC: https://blockchain.info/address/1LmBHVsqC4iEfDHfdKkCXuBMCZm18UuciQ

Quote
Phase 2 is still on the cards, however if there's no more movement soon it may change in price a little (in which case anybody who bought from phase 2 will be topped up), move to being managed IPO style by poloniex with the current prices, or we may abandon it all together, destroy the coins, and refund the purchases in the pot. Seeking guidance on this matter over the next few days and will be discussing with NWO and all of you hopefully.
IMHO setting the price lower is generally a sign of weakness and degrading the worth of the coin.
To support the price it would be better if the mining diff and block reward would be balanced so that the cost of mining 1 Wolf would be equivalent to the highest BTC price step of phase 2 IPO.

Regarding the phase 2 in general, I'm honestly not feeling any traction at the moment.
Especially since dev is still busy developing instead of marketing the coin.
Also quite fed up with chasing the wherabouts of the fund. I wish I could stop making negative posts already,
but I can't as long the phase 2 funds are out of sight or unaccounted for.
Therefore my vote is for refund and proper relaunch of the IPO together with the rebranding.

Btw, I just got the wallet from github and compiled  on Ubuntu and it's not synching yet (using nodes from http://5.9.111.71/connections). edit: syncing fine now.