Earlier today during an in-depth investigation into the abject failure of the rip-off coin Shibecoin, "Johny Coinz" interviewed the unsuccessful developer "Loq" the creator of Shibecoin. I pasted the interview below.
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Johnny: So "loq" you created Shibecoin recently for what reasons?
loq: Johnny, I saw that many alt coins were being created in the market and they were truly innovative in many ways, I wanted to harness the potential of POS after seeing the success of Blackcoin and I also wanted to brand the coin with the catchy name Shibecoin to perhaps steal some of the Dogecoin community and perhaps convert them over to the POS system.
Johnny: Well, you actually angered most of the Doge community and many people referred to this as a scam or rip-off? How do you respond to these allegations?
loq: Honestly I never asked or searched out the Doge people to see if they were interested or consenting of my use of the word Shibe in my coin, but it's a word. And words are not property, I didn't intentionally try to upset them. I really was hoping that we could work together on this and be a happy family.
Johnny: I do not think you will ever be considered family to the Dogecoin community, but let us move on to a new topic. Shibecoin had a lot of popularity at its birth, but that quickly declined into hatred and a passionate exodus from the coin. This caused the price to falter and that caused many more people to leave the Shibecoin community and market. Please comment on this.
loq: Johnny, I didn't expect the problems to be so numerous and complicated. When the wallet staking issues started, I was in over my head......really I had no clue what to do, I was just experimenting and trying to copy what others had done with their code. I wanted to...
Johnny: Before we get into the staking issue, lets go through the problems chronologically. First the coin was disabled on the markets and this happened many times, what was the reason for that?
loq: Hmmm....uhhh, well I don't really know...we had some issues with the code, I really wasn't ready to deal with the problems I was trying promote the coin as best I could. I wasn't even aware the coin was disabled on the markets.
Johnny: When you say promote, you really mean you were sitting in IRC chatting with other people?
loq: Yes. I feel that IRC is the best place to reach the type of people that would be interested in an a new innovative POS coin.
Johnny: Well, I wouldn't agree about the innovative part....but on the IRC issue......is it fair to say that you spent A LOT of time arguing with people in IRC about Shibecoin.
loq; There was quite a few people who were spreading lies and rumors about the coin, and I desperately needed to dispel these rumors.
Johnny: What were some of the rumors?
loq: Hmmm, mostly that the coin deposit weren't working and that confirmations were broken, also a lot of people complaining that it was a rip-off....I don't really remember...
Johnny: The consensus is that Shibecoin is a rip-off coin, and it's a fact that the coin was broken soon after its launch. Many people had issues and the exchanges had to disable the coin.
loq: You are right, it was a mess. I want to be up front and honest, I was in over my head. The code was wrong, its still wrong. The coin is a mess, I'm glad I've washed my hands of it.
Johnny: loq, the truth is that you were removed from heading development of the coin and replaced by a much more stable individual. There is plenty of evidence that shows your behavior and decision making regarding Shibecoin was immature and inexperienced. People got tired of the incessant drama you created, you effectively destroyed the coin with your decisions. You treated people that had serious issues with the coin with disrespect and ignored many issues. You should have been honest with people from the start and admitted that you had no right to be releasing a cryptocurrency and fooling so many people into losing A LOT OF MONEY. I have the evidence right here that you and some other people dumped millions of Shibecoin at the market peak. This caused a severe market crash, and you deceptively took their money right out of their hands. Shibecoin is a fraud, what say you?
loq: (silence and head shaking for about a minute) Oh man...I (long pause) I, uh, I feel horrible that so many invested into Shibecoin and the price crashed, but this is what happens in trading. I did sell most of my Shibecoin at the top market price around 450 satoshis, I made a lot of money....I guess if you look at it, I have those people's money now. They invested, I sold....and now their Shibecoin is worth next to nothing.
Johnny: loq, the real issues is the fraudulent claims that you made about the coin's stability and innovation and future. These people believed that they were buying a stable currency that they would be able to use in the future, a lot of people BELIEVED IN YOU and THEY BELIEVED IN SHIBECOIN. How were you able to manipulate these people so easily?
loq: Honestly? People are stupid, they want the next new flashy thing...POS was the bomb at the time, and it still is, Blackcoin was a trail blazer....Dogecoin is a fun community, I stole their concepts and tried to brand it as my own. The problem was I didn't really have the innovation, I didn't have the community. The whole thing was a lazy rip-off attempt, but it worked. I made money for my pockets, that is truthfully what it was all about. I really wish those people could have made money with me, but the fact is that Shibecoin couldn't compete with the REAL coins that are available.
Johnny: And it didn't survive because you and your friends dumped millions of coins on the market, did you know the coin would crash after that? Did you want it to crash?
loq: NO, I didn't want it to crash. I'm not an asshole.
Johnny: NO? So your just incompetent and inept? And a fraud? People lost A LOT of money! They lost faith in the crypto system because of jerks like you that prey on a system that has no rules or regulations to safeguard them. I hope this never happens again, but i get the feeling that you're going to be right back at it. You probably have already started working on another coin? Have you?
loq: (silent for a bit) No, not really....nothing I plan on releasing. Just my own work, stuff like that.
Johnny: Well, I don't believe you, and I hope anyone that reads this interview will keep an eye on you and make sure you keep your incomptence out of the crypto scene, you make me sick. This interview is over.
loq: You still owe me a hundred bucks.
Johnny: Fuck you, go dig it out of your pockets.
