Quote from: dfletcher on June 03, 2014, 05:27:37 AM

Okay so this coin is a bit special for me so sorry for the length of this saga (: It is the first coin that I watched from the beginning and stuck around and talked with the community throughout. There has been more drama in Shibe's month of life than the entire run of the TV show "Lost".

I must admit to being a bit annoyed at first by Loq. What I realize now is that he was just doing what everyone who launches a coin does: be excited about it all around Freenode's IRC. The heart of the altcoin community is in there so of course that's what he did. My nitpicking complaint that he was badgering the Mintpal staff to get added as a hot new coin seems pretty trivial now. Every new coin with any kind of volume is going to have overexcited followers who beg to be on the world's biggest exchange, that just makes sense. Loq did not keep this badgering behavior up or anything just telling the story of my introduction here. Despite this initial reaction, people in the mining community kept talking about it. I decided what the heck, let's check it out.

From these early days someone has really hated this coin. I mean, seriously *hated* it. I don't understand why at all. The theory among the conspiracy minded in the #shibecoin channel is that it's someone from the Dogecoin community. Which I personally think would be really odd since Dogecoin is #3 in a chain of ripoffs already. But you know, people gonna be peeps and well, get mad bro. There was also a fork which could have upset some people who lost money, but that's just par for the course in crypto. Later I learned that Loq and Energion were both in some kind of position of authority (at least in IRC) in the Whitecoin community during it's time of meltdown and I think someone from there seems likely. This someone (or multiple pissed off someones) may or may not have been buying and dumping Shibe at a loss, or their FUD was so successful that it caused a similar effect on the community. I didn't dump, not sure what others did.

Around this time another coin appeared and started spamming Shibe's IRC channel. Doje. Same exact idea as Shibe except dumbed down to the 100th degree, coincap at ridiculous levels, and a 20% premine that's plainly visible in their Main.cpp at github. My immediate reaction was ironically the exact same as the Dogecoin hater. I could not stand that someone had forked/copied the idea of Shibe. Then I realized that maybe this would draw or dilute the hate coming from FUD-ster #1 and well, that I'm dumb =).

Then something totally crazy happened. People liked Doje! Not just liked it but were buying and everyone was partying like it's 1999 in the IRC channel. On the first or second night of it's existence something like 3 million of them rained on me. An excited Doje community sprang to life instantly.

An odd thing about Doje: it actually works really pretty well. The network was running smoothly at a time when Shibe's network was clogged up more than myself after I eat a bunch of cheese. This may be because Doje's PoS implementation happens to work particularly well, or possibly because more people were running Doje wallets than people running Shibe. I'm not sure why it worked better than Shibe but it did. More folks jumped ship because of this.

After a period of stagnation, whales start dumping. It was Shibe's council team, probably every single one of them. Pretty sure on this. He-said-she-said on who started it. I don't care. But the result was another big hit on the price.

Us clueless plebs in the IRC channel at this point are in complete limbo, wondering what the heck is going on, why Shibe is steadily losing value. The development of Shibe which at first had some real energy (lol Energion had his batteries charged) and speed had suddenly come to a grinding halt. A program called "Shibidends" was a carrot that we followed. News for the sake of news. A glorified rich list and most of us suspected that's what it was but were happy to see Shibe in the news. Desperate for good news at this point.

Finally after several days of following the carrot Energion appears in #shibecoin and reassures us that all is well, Shibidends is on track and the future is bright.

Then one evening soon after OdynGrd (sp? he's not in chan now) drops a serious bombshell in the IRC channel: Doje was created by Loq and Energion to try to distract the FUD away from Shibe.

ARE. YOU. FUCKING. KIDDING. ME.

One of the accusations of the original FUD-ster was that Loq was some shady developer that's been behind some past coin failures. And now here's one of the council members saying that Loq has done exactly what the FUD-ster said. So I'm immediately pissed at Loq.

What happened next was a kind of coup. Loq and Odyn took over Shibecoin, wrenched it away from Energion (and I later learned, Frystikken). I actually and honestly believe that they did this because they were tired of constantly lying to the community they were supposed to be leaders of.

The reason I believe this is clear. (1) Loq admitted everything I've said here on video. He has apologized and now seems to be focused like a laser on what's important: making Shibe awesome. (2) Delivering the awesome. What you see here is not just some pretty new wallet UI. To say it is is a huge disservice to the folks at Bittrex who are helping change the code base to a PoS system that isn't constipated. Feel free to drop into Bittrex's IRC channel and ask what their process has been like. It's really impressive, they're managing to swap out the blockchain of a coin with minimal or no loss.

Side note: during the last round of drama here Doje has changed names to BankNote.

BankNote folks: getting away from the silly / joke beginnings of Doje is good. But please, step out into the light, make some plans to make BankNote awesome. It could be. Your system works well. Just show yourselves, admit the stupidity and luck of the beginnings of BN and try to make it awesome.

Both teams: guys, the time for squabbling is over. You both have what could be awesomely bright coins to work on. Please do that. Shibe seems on the right path but Loq can't resist the occasional dig in the channel or in the obsolete #dojecoin channel. Loq, cut that shit out. Energion and Frystikken, come on guys play time is over. Bittrex: you guys seriously kick butt.

oh, thank you
very informative

BitLudmann

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