What May Be: "The Web That Has No Weaver" (INSN Write-up)
If all you know is what you’ve seen, then how can you make a correct assessment of anything? Especially something you don’t know exists? Sorry, well the fact of the matter is, you can’t.
So for the moment, perhaps you can let me suggest something and it is not surprisingly named InsaneCoin; well I can personally vouch for the fact that, having actually worked in an insane asylum, I know what insanity looks like. So therefore, without doubt, InsaneCoin is not so insane.
Hello, Adam the Horse here…
Are you still sitting at home, wringing your hands in despair over how we can put a man on the moon, but we still cannot find the golden fleece of cryptocurrency? Well it could be the fact that you can’t, because there are more than one. I need you to hold on for the ride please.
On the one hand, you could just turn up the volume on some Trent Reznor or Marilyn Manson song, right? Alternatively, you can watch your coin like a hawk fearlessly day and night, with as much love as you would give a newborn child. Or on the third hand you can trudge down a path that could have you “rolling on the river of Mollys,”or reaching total destruction staying up without sleep for a month of Sundays. Alternatively, on the fourth hand, Insanity could be what you are facing. Well it could be even worse; you could end up in an insane asylum.
So now onward to INSANITY and going back down the rabbit hole... again remember you have choices. We just laid out 4 ways to deal with all this, so let’s pretend that you just found 20 dollars in the gutter in Skidrow concert, where no one is about. What do you do? Well don’t ask us, we’re not financial advisors. So just on your own, if you think it’s worth taking the chance, invest the 20 in insane coin and raise enough money to one day to as civic duty use the money you make to end homelessness. Or just take a trip with molly instead if that's what suits you.
Moving on to the more technical side(with help from Tom), we can see that there definitely seems to be some significant interest in this project based on the price action, and it's currently maintaining support above a major support level that it fell from in early November last year, before subsequently "mooning" to very profitable degree. We noticed on forums several reports of a viruses in older versions of their wallets, but we ran a virus scan of what was(at the time of writing) the latest wallet, and it's squeaky clean according to Avira. With legit cryptocurrency software commonly setting off false-positives and some people liking FUD, so far we give the InsaneCoin team the benefit of the doubt there, as far as past versions of their wallet go. INSN is working to get onto Bittrex and Poloniex, which would obviously be welcomed by investors.
This coin seems quite secure. “Velocity blockchain security system – Velocity is a prototype blockchain security system that secures the Insane blockchain though governance and restraint technology. The system acts as a 'triple check' security feature against blockchain inconsistencies and possible exploits such as rapid block times, incorrect fees, insufficient balances and other issues that are widely used by programmers with malicious intent to cause damage to the blockchain..”
“Now at this low price mixed with futuristic algorithms, $20 could get you, well... maybe a trip to the moon.” -Adam the Horse
Insane coin released a new wallet update. V1.0.5.2 membrane 07 it is set to fix masternode payouts, to fix PoS payouts, a fix to PoW, coding cleanup and more. This was news in social media tweeted by InsaneCoin on March 13th. UPDATE: Between the time of writing and the time of publication, they have moved and updated their website - the wallet is now up to version 1.0.5.3
Last Week Tonight’s host John Oliver points out INSN on HBO, on the March 11th 2018 episode. Which is also possibly good for market and growth.
Currently though, INSN has been in a downtrend since mid-January, losing most of the ~%800 gain it had seen since late December. With the rest of the market seemingly in a recovery, it's at a somewhat attractive price, but with the extremely low liquidity and lack of stop-losses at Cryptopia(which currently accounts for 95% of it's trading volume), we must advise extra caution with one for now. Much like Tom has(temporarily) with Bitcoin Candy(CDY) @ CoinEx, it's really easy to lose most of your money on the smaller market cap and lesser-known coins, especially if you're forced to trade without stop losses if you decide to trade them.
In the BluePaper it goes into breakdown of what is now known as Velocity, which was known in the past as “pulse”. It was rewritten and worked through to tighten security and the chain stability aspects. The importance behind this is to ensure a smooth transition constraining the current chain within the specific parameters written in the code as opposed to block spacing and other properties acting like it's a suggestion instead of rule of action written as mandatory actions. This is most important if there is an increase in mining or trading, it wouldn't slow processes. It would also act in being more secure by triple checking all blocks and ensuring they are not as vulnerable to an attack. This triple check system looks over the sector even after it has been seemingly accepted to meet all requirements, it is not immediately accepted, but instead rechecked for any possible inconsistencies or exploits.
It used the X11 algorithm, and the ticker was originally INSANE, now listed as INSN. The new total supply of INSN v/s Insane is 30mil. Also with INSN they added master node functionality of 6% APR interest.
With Insane V2(INSN rather INSANE), they also turned Proof of Work back on, with a block reward that's usually 1 coin per block, but can be 2 when a random "insane" block is found. There's always an 8% of finding an insane block, which along with doubling up the block reward for POW, doubles up the block reward in POS as well, from 1.5% to 3%.
A darksend feature to supposedly allow anonymity for transactions was added. INSN now also allows secure message sending within the blockchain much like pinkcoin and other coins that we are aware of.
VRX targeting has been implemented, which they claim is more streamlined and robust than the dark gravity wave (DGW), which “uses multiple exponential moving averages and a simple moving average to smoothly adjust the difficulty” and was originally developed for DASH, which Brittany talked about in her first post for us.
“Insane is not a clone, or just a copy of some other coin. Although based on the widely used code that runs the Bitcoin network, insane has taken this code and made it all its own." They seem to be up for almost anything as far as use cases of the coin, But they specifically talk about "insane space,” which they say is “a place for the future to happen, a place to meet, build or just relax in an environment designed to promote forward thinking and get those creative juices flowing.” We can't help but wonder if they might have been suggesting a possible virtual reality type a use case when they wrote that, which would tie in well with our article on VIBE.