The emperor has no clothes...  SHIBE never hit 500 sat or more.

The price won't go up due to the blockchain.  It will go up once the guy who is waging economic warfare runs out of coins, as well as as we deliver newsworthy things that add value to the coin, like Shibidends.

Yes it will go live later tonight when I'm in front of my main machine and done with family stuff.  And then you can troll all the rich addresses

Got the List of Rich Shibes completed:



As well as commenting on other address walls:

The technical dev is aware of the issue with the sticking blockchain.  I'm keeping an eye on it, if we don't see natural movement this afternoon then I will issue another patch to get things moving again later this afternoon or tonight.

One thing that would help to artificially speed things up is to reduce the stake modifier interval setting, but this requires a "POS Fork" and I'm not aware of any coin that has successfully done this.  Blackcoin did it by ignoring all the previous stake blocks, Badgercoin attempted it but it seems they rolled that change back after testing.

We're trying to keep the chain stable while dealing with people trying every trick in the book to mess with us.  We're juggling a lot of balls but rest assured we are on it!

Yeah, I've got a patch to tone down the logging, that "noise" should really only be appearing when the debug flag is enabled.  That'll be in the next wallet update which will probably be sometime later tonight or early tomorrow.

It is pretty disingenous and somewhat insulting to keep trying to refer to Shibe as some sort of ripoff or derivative of Doge, a coin whose creator got up on stage and told you people your coin has no value.  And you wonder why it is no economically viable.  Attacking us for playing a better ball game is not going to bring value back to Doge.  You would be smarter to try to work with us and get a piece of some of the innovative things we are working on, but it is apparent that won't happen.  You reap what you sow man.  Smart money got the hell out of Doge when the getting was good.

Thanks!  Expect to release later tonight or tomorrow.  The initial data loader is running now and is about 70% of the way through the blockchain harvesting addresses to pre-load the site.

I am getting close to launching the Shibidends site which has been expanded to include The List of Rich Shibes, the Shibe Royals, Shibellionaire's, and a pseudonymous messaging system.

The way it will work is that you can post on other address's "walls" similar to Facebook, by signing your message in your wallet to prove you own the address.  Only Shibellionaires can post on the Shibe Royal's walls, Commoners can post on Commoners walls and Shibellionares walls.  Maybe I will tweak that, it depends.

Here's a sneak peek:


After activating your address you'll be eligible to receive dividends proportionate to your average address balance relative to the sum of other active address balances.

All known addresses have a page with a richometer and statistics about the address, dividend payout history, ranking compared to the rich list, rank movements, comment wall, etc.

You can set a username for your address by signing a set-username message in your wallet.

It's gonna be pretty cool!

We can add a minting icon in the status bar to give an indication of staking status.  PoS is moving along smoothly now, as the average coin age on the chain increases it will smooth out even more.

    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

Fear. Uncertainty. Doubt.  Drama.  Days of Our Shibes.  No its not a scam.

Clearing The Air Around The SHIBE Coin
...some words from the developer

Greetings.  I thought I would write a few thoughts to help clear the air around the release of our coin The Shibe Coin.  The amount of interest in this coin and the way it has exploded after launch far exceeded expectations and has been great fun.  But, I have also been somewhat saddened by the tremendous amount of FUD being purveyed much of which is pretty far off base or flat out wrong.  It is particularly saddening to me because I have fixed a lot of your pet coins behind the scenes, and built so many windows wallets for devs that couldn't be bothered to read the documentation in their own repos or who just couldn't get the build process to work.  And so to me it is a bit of a slap in the face when I have tried to put something cool together for the community, to then read so much FUD on the forums and in IRC some spread by folks that I have bailed out in the past.

I'd like to address a few topics that I think need clarification, and provide a glimpse into our plan for the future.

First, with regards to DOGE, I think we need to set aside any adversarial nonsense and conjecture of that sort.  SHIBE is not a ripoff of DOGE, it is not intended as a competitor to DOGE, it is supposed to be complementary to DOGE.  I mined DOGE from launch, DOGE has been very good to me, the idea with SHIBE was to offer a PoS coin done right as a complementary coin to DOGE which has been more of a tipping coin and every day trade coin.  SHIBE is intended to have more of a business and trading focus.  It is well intentioned and not some biting brand dilution scheme.

Second, as far as AC and this supposed BTER statement, we are absolutely not associated with AC.  Indeed, part of my motivation for pushing this coin out was because I lost a lot of money on AC and I knew I could do a good proof of stake coin.  I rented rigs and mined that coin at a loss at launch, and bought up more because I thought it was going to be a hit and then I went to bed.  And then I woke up the next morning to find that we all got burned.

Third, there has been some FUD about a wallet address supposedly holding some enormous amount of "instamined" funds.  This address was our launch pool wallet.  We had about a dozen miners on the pool at launch, that grew to maybe a couple dozen at a time shortly thereafter.  Some people rented big rigs, I rented a modest amount of hash.  The devs do not hold big wallets like some of the big investors in the coin who went big with hash or bought up the market.  I'm not really in this coin to get rich off of a coin launch, I'm in it to build a platform.

My vision really is for SHIBE to be a vehicle for a lot of  other ideas, and to be an inclusive community with other coins like Blackcoin, DOGE, etc.  Every coin needs to have a purpose and a reason for existing, a niche in the market.  To me coins like Blackcoin and Unobtainium are in the luxury niche, Blackcoin has exceptional branding that has a prestige and luxury feel and is the kind of coin I could see using to buy luxury watches and that sort of thing, at least thats what it is to me.  Doge is the fun coin that doesn't take itself serious that you can mine and tip around to your friends without thinking about it too much.  Doge got me started with mining cryptos.  Quark is the coin that won't stop ticking with the unstoppable community that had great publicity at the end of last year.  And many others.  

SHIBE is the coin for innovation, trading and wealth storage, the coin that drives the development of crypto solutions in the scene.

There are a bunch of things in the works for SHIBE that have been held somewhat close to the vest as we want to have sites and information ready first and frankly we want to get through the pure PoS transition before turning our attention to these programs.  I'll note a few of these in brief, more detailed information will be forthcoming in the coming week.

First, is the SHIBEX Fund.  The concept is to do something similar to the Winklevoss's fund for Bitcoin but on a much smaller scale, providing micro investments and technical and management guidance to help foster growth in the ecosystem.  You can follow @SHIBEXF on Twitter for now and watch for further announcements.

Second, is Shibidends.  This is a dividend program that will pay out to SHIBE users from a goodwill fund funded by participating vendors.  We have an exchange and a payment solution in progress that will participate in the fund.  A portion of the fees from these is going to be set aside as goodwill to reward the community using SHIBE.  Unlike other programs you don't need to register for anything or buy anything.  It will be like a stake on your stake.

These are projects by the dev team to support SHIBE.  In addition we also have the Shibe Council representing the community and guiding the evolution of the coin.

The dev team behind this coin has a lot of professional experience and is committed to the long term support and growth of the ecosystem.

Best wishes,

Energion

Ok, well, now we know this is ridiculous.  Obviously you guys don't know how coins actually work.

:shakes head:

Good luck with a coin that can't process transactions ;-)

You didn't specify the PoW algorithm in the first post.  Sure have a complex iPO structure though.  What's the point?  Why not just use Blackcoin or Mintcoin or just use Novacoin or Peercoin?  The coin specs don't really offer anything more unique.  500 blocks to maturity?  Wut?  Why?

My thoughts on these features and the "whitepaper" is that they are just a bunch of touts to sell the IPO, and will most likely never see the light of day.  Build it and put out a tech demo first.

This was posted a few years ago:
http://newsbtc.com/2014/01/12/gavin-andresen-neutralizing-51-attack-bitcoin-network-circa-2012/


Are there any alt coins that have tried this yet?

It seems like there is this crazy rush of coingen coins, Scrypt coins, and country coins with "airdrops" and all this other nonsense.

But who's working on tackling technical innovations and the 51% PoW attack problem?

I know we have proof of stake from Peercoin and automated checkpointing which introduces some centralization.  That is one defense mechanism.

What about others?  A decentralized solution or evolution of the PoW blockchain concept?

There's a few coments on his blog post with some good suggestions for enhancing the idea too.  Just curious if anyone has tried implementing it?

Graphics and stuff looks nice and professional and all... but your specs on the proof of stake interest, etc. are like that because you didn't change any of it from peercoin.  Are you going to get this onto leveldb?

Bagholding some of this, bought at like twice where it is now.  Really hope we don't see this hit single digits.  Cool concept coin and at least it appeared that there was some real effort being put behind it.  Doesn't seem like the kind of coin that would just die.  Maybe I'll grab some more...tough call.

When is the airdrop scheduled to start?  We're still a few weeks away right?

Not masterbrain, but a promoter who I guess mostly uses youtube.  I don't think he's done any of his own coins yet.

I think he's trying to be the turnaround business guy with cryptorush, but the pressure got to be too much.

They got bitten a couple times by bad coins on top of the BTC hack etc.  I don't know what they expected using the OpenEx codebase, which thankfully appears to have been pulled from github.

I get what they were trying to do with CR, but you can't expect to be successful using a codebase that was known to have, umm, "issues", and throwing every coin that comes along up on the exchange.  So many coins being put out now from the generator and inexperienced developers with random defects.  If you're going to do it you gotta have an experienced developer thoroughly checking every coin, and that quickly becomes non-scalable/unprofitable.

I think they learned some lessons.  At least they haven't just closed up and run away, and are actively trying to shore up the site and make everyone whole...which is more than you can say about some other exchanges lately...