Quote from: FNG on May 14, 2014, 12:33:36 PM

Quote from: Vann on May 14, 2014, 12:26:21 PM

Quote from: energion on May 14, 2014, 06:51:36 AM

ShibeCoin Network Issue Resolution and Transition to Pure Proof-of-Stake

   As everybody is aware the ShibeCoin network experienced odd proof-of-work behavior earlier today. As a result we have taken the step of moving to pure proof of stake slightly sooner than planned.

   Over the course of the proof-of-work mining period we have consistently experienced "stuck" blocks. This is a common problem in popular coins and occurs due to rapid changes in network hashrate that drive the difficulty up. It is this problem that algorithms like Kimoto Gravity Well and DigiShield were created to solve. In ShibeCoin's case, we used the DigiShield algorithm. This would bring the difficulty back down so the network would not be stuck forever.

   The strange behavior we saw earlier today was a result of a bug in the implementation of DigiShield in our code. I was already aware of the issue, but overlooked putting the PoS wrapper code around the block indexer in the difficulty algorithm. The algorithm looks at previous blocks to calculate solving time to then make an adjustment. In Proof-of-Stake coins you need to wrap the pointer to the previous block in a method that iterates based on whether the block you are looking for is a stake block or a PoW block. Without this check, once staking occurred on the network the difficulty adjustment picked up the stake difficulty and used it to retarget the PoW difficulty. The result were rapid jumps from difficulties of 100+ to difficulties of 0-1.

   We have cutoff PoW at block 5430. We moved it up slightly because we noticed the network sticking again, and folks were growing tired of working through the stuck blocks.

   Now that we are in pure proof-of-stake mode, network transaction processing is dependent upon users staking in their wallets. As part of the staking process blocks are minted and the network moves along, as staking is another form of mining. Leave your wallet open and running, unlocked for minting if you have encrypted it, and you will earn stake interest on your coins as well as transaction processing fees.

   The minimum coin age in ShibeCoin is now 8 hours, and the maximum coin age or coin age maturity is 8 days. This means that you can begin earning stake as soon as after 8 hours of coin age, but as you move closer to 8 days you have a greater chance of winning stake. After that staking occurs as a luck of the draw process. The best thing you can do to support the network is to leave your wallet running and staking and contribute to the network transaction processing.

   Thank you to everyone involved for your patience and understanding while we have worked through these issues, often under the pressure of extreme FUD. Now it is time to look to the future and to grow the ShibeCoin community.

   Best Wishes,

   energion

Anyone that's not an amateur knows it's not an common problem for a coin to fork multiple times in less than a week. It's an incompetent and amateur 'dev' looking to cash in quick profits.

https://bitcointalk.org/index.php?topic=595767.msg6713631#msg6713631

It's also not FUD when the FACTS show this nothing more than an insta-mine SCAM. The only fear is by the baghoders that keep pumping this scam. The only uncertainty and doubt is why anyone would think this is anything other than what the facts make it obvious that it is!

Over 50 blocks were mined more than AN HOUR before the coin was launched here in a ninja announcement. The block explorer shows a total of 56 blocks, including the first 50 with the largest rewards were mined before the coin was even announced. That's even worse than an insta-mine scam, given the only ones that could have mined those blocks were the 'dev' and those he let know over an hour before anyone else.

Any one that's ever been at a coin launch knows it doesn't take an hour to mine 50 blocks when the diff is 0.00002 and the BS that a pool got those coins simply doesn't add up, especially when the largest block rewards are 100% skewed towards the beginning when the diff is the lowest and insta-ming before and after the announcement was made is the easiest thing to do with the way the coin was launched in a ninja announcement. In addition to having zero innovation and being a 100% Doge ripoff, for the 'dev' to try and capitalize off the work the Doge community accomplished in raising $55,000 to sponsor a NASCAR team, by releasing his shitcoin on the same day Doge introduced their NASCAR team, shows how classless they are in their attempt to make a quick profit.

Shibecoin Is The New Doge Ripoff And Latest Altcoin Ninja Launch

http://altcoinherald.com/shibecoin-new-doge-ripoff-latest-altcoin-ninja-launch/

Shibe Coin, a complete ripoff of Doge Coin, likely a scam - an article by The Cryptocurrency Times

http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/shibe-coin-a-complete-ripoff-of-doge-coin-likely-a-scam/

The 50 blocks that were mined before the announcement was made contained the highest rewards and amounted to 6,250,000 coins out of the total of 252,500,000 mined during the PoW stage. That equals 2.5% of the PoW coin total + an additional 1,500,000 coins from the announced 0.5% premine. 8,750,000 coins were mined BEFORE the announcement was even made..

The coin was announced at 3:03 PM EDT The block explorer shows there were 56 blocks mined BEFORE the coin was announced. To say the coin was not insta-mined both BEFORE and after the announcement was made is simply not the truth. People need to know this before investing or believing the hype.

http://192.227.251.74:8888/chain/ShibeCoin?hi=59&count=60

Code:

57 2014-05-04 19:04:48 1 100000 1.009 6950000 0.018912 2.61897 0%
56 2014-05-04 19:01:50 1 100000 0.84 6850000 0.0171296 2.61691 0%
55 2014-05-04 19:01:00 1 100000 0.63 6750000 0.0168056 2.61633 0%
54 2014-05-04 19:00:35 1 100000 0.473 6650000 0.0167708 2.61604 0%
53 2014-05-04 19:00:26 1 100000 0.701 6550000 0.0169213 2.61594 0%
52 2014-05-04 18:58:57 1 100000 0.526 6450000 0.0161574 2.61491 0%
51 2014-05-04 18:58:46 1 100000 0.526 6350000 0.0162847 2.61478 0%
50 2014-05-04 18:57:46 1 125000 0.789 6250000 0.0158449 2.61409 0%
49 2014-05-04 18:55:51 1 125000 0.763 6125000 0.014838 2.61275 0%
48 2014-05-04 18:54:53 1 125000 0.572 6000000 0.0144792 2.61208 0%
47 2014-05-04 18:54:15 1 125000 0.429 5875000 0.0143519 2.61164 0%
46 2014-05-04 18:53:31 1 125000 0.643 5750000 0.0141551 2.61113 0%
45 2014-05-04 18:48:42 1 125000 0.482 5625000 0.0111227 2.60779 0%
44 2014-05-04 18:48:39 1 125000 0.362 5500000 0.0113426 2.60775 0%
43 2014-05-04 18:47:58 1 125000 0.271 5375000 0.0111343 2.60728 0%
42 2014-05-04 18:47:27 1 125000 0.203 5250000 0.0110301 2.60692 0%
41 2014-05-04 18:47:22 1 125000 0.152 5125000 0.01125 2.60686 0%
40 2014-05-04 18:47:01 1 125000 0.147 5000000 0.0112847 2.60662 0%
39 2014-05-04 18:46:03 1 125000 0.125 4875000 0.0109028 2.60595 0%
38 2014-05-04 18:45:12 1 125000 0.094 4750000 0.0106019 2.60536 0%
37 2014-05-04 18:45:01 1 125000 0.07 4625000 0.0107639 2.60523 0%
36 2014-05-04 18:44:57 1 125000 0.052 4500000 0.0110069 2.60519 0%
35 2014-05-04 18:44:50 1 125000 0.039 4375000 0.01125 2.6051 0%
34 2014-05-04 18:44:41 1 125000 0.029 4250000 0.0114699 2.605 0%
33 2014-05-04 18:44:38 1 125000 0.022 4125000 0.0117824 2.60497 0%
32 2014-05-04 18:44:31 1 125000 0.016 4000000 0.0120718 2.60488 0%
31 2014-05-04 18:44:28 1 125000 0.012 3875000 0.0124306 2.60485 0%
30 2014-05-04 18:44:21 1 125000 0.009 3750000 0.0127662 2.60477 0%
29 2014-05-04 18:44:16 1 125000 0.007 3625000 0.0131481 2.60471 0%
28 2014-05-04 18:44:03 1 125000 0.005 3500000 0.0134606 2.60456 0%
27 2014-05-04 18:44:02 1 125000 0.003 3375000 0.0139468 2.60455 0%
26 2014-05-04 18:43:59 1 125000 0.002 3250000 0.014456 2.60451 0%
25 2014-05-04 18:43:57 1 125000 0.002 3125000 0.0150116 2.60449 0%
24 2014-05-04 18:43:55 1 125000 0.001 3000000 0.0156134 2.60447 0%
23 2014-05-04 18:43:54 1 125000 0.001 2875000 0.0162731 2.60446 0%
22 2014-05-04 18:43:52 1 125000 0.0 2750000 0.0169907 2.60443 0%
21 2014-05-04 18:43:50 1 125000 0.0 2625000 0.0177778 2.60441 0%
20 2014-05-04 18:43:48 1 125000 0.0 2500000 0.0186458 2.60439 0%
19 2014-05-04 18:43:47 1 125000 0.0 2375000 0.0196181 2.60438 0%
18 2014-05-04 18:43:46 1 125000 0.0 2250000 0.0206944 2.60436 0%
17 2014-05-04 18:43:45 1 125000 0.0 2125000 0.0218981 2.60435 0%
16 2014-05-04 18:43:44 1 125000 0.0 2000000 0.0232639 2.60434 0%
15 2014-05-04 18:43:41 1 125000 0.0 1875000 0.0247801 2.60431 0%
14 2014-05-04 18:43:40 1 125000 0.0 1750000 0.0265394 2.60429 0%
13 2014-05-04 18:43:28 1 125000 0.0 1625000 0.0284375 2.60416 0%
12 2014-05-04 18:03:10 1 125000 0.0 1500000 0.00282407 2.57617 0%
11 2014-05-04 18:02:01 1 125000 0.0 1375000 0.00228009 2.57537 0%
10 2014-05-04 18:01:16 1 125000 0.0 1250000 0.00199074 2.57485 0%
9 2014-05-04 18:00:35 1 125000 0.0 1125000 0.00173611 2.57437 0%
8 2014-05-04 18:00:09 1 125000 0.0 1000000 0.00165509 2.57407 0%
7 2014-05-04 17:59:15 1 125000 0.0 875000 0.00126157 2.57345 0%
6 2014-05-04 17:58:14 1 125000 0.0 750000 0.000763889 2.57274 0%
5 2014-05-04 17:57:50 1 125000 0.0 625000 0.000648148 2.57247 0%
4 2014-05-04 17:57:22 1 125000 0.0 500000 0.000486111 2.57214 0%
3 2014-05-04 17:56:36 1 125000 0.0 375000 0.000115741 2.57161 0%
2 2014-05-04 17:56:24 1 125000 0.0 250000 3.47222e-05 2.57147 0%
1 2014-05-04 17:56:18 1 125000 0.0 125000 0 2.5714 0%

Not much a Dev can do when it gets overwhelmed by hashing power

The dev's took the correct action by ending PoW.
One of the Dev's has fixed multiple coins issues for other Dev's
They're not anonymous

spread your FUD elsewhere...see you on the MOON

LOL, like the flaming bag of shit that you call 'Shibecoin' is the first coin to ever have hash on it. BinaryClock runs one of the biggest pools here, he knows about hash and also knows the coin has serious issues.

https://bitcointalk.org/index.php?topic=595767.msg6713631#msg6713631

The only reason the 'dev' ended the PoW is because he's an amateur and too incompetent to be able to fix it. It doesn't matter to him anyway since he already has his premine and insta-mine from the first 56 blocks mined over an hour before the coin was announced. As soon as the PoW is over, they will cash in and this coin will be forgotten as quick as it started. The sooner, the better off everyone will be!