Please see this IRC chat from #shibecoin, in which I ask loq to explain the apparent instamine of the coin:
(08:44:45 PM) tf2honeybadger: loq: can you explain this?
https://bitcointalksearch.org/topic/m.6622763(08:45:02 PM) dragnar: encblot not for the host he now has close to 2 million free shibecoins
(08:45:10 PM) loq: yes tf2honeybadger I can
(08:45:24 PM) encblot: dragnar: yep, it pays to be devious
(08:45:24 PM) loq: its true, we are currently owning 30billion coins according to fud
(08:45:28 PM) tf2honeybadger: MintPal-Jay and I are both interested in this. I'm going to invite him here.
(08:45:30 PM) loq: roflmao.
(08:45:40 PM) loq: yeah go on
(08:45:40 PM) PanicShibeAFK: encblot: no one is looking at long term results. we are looking at short term profits, and we are getting them.
(08:45:45 PM) Haven88: At the bottom it says
(08:45:46 PM) Haven88: summary: shibecoin is a 100% legit coin
(08:45:56 PM) binaryclock: shibecoin is a 100% legit coin
(08:46:02 PM) binaryclock: why so mad?
(08:46:06 PM) maartentjewut: Can anyone explain why the transactions are pretty slow tonight?
(08:46:09 PM) vb`: tf2honeybadger: if i can suggest goign to #shibecouncil
(08:46:12 PM) dragnar: loq wen u start talking could u lock the channel so there is no spamn ?
(08:46:13 PM) vb`: pls
(08:46:18 PM) tf2honeybadger: will do, vb`
(08:46:18 PM) loq: yes
(08:46:19 PM) TrollBoxChamp: i agree +vb
(08:46:19 PM) vb`: less noise
(08:46:20 PM) loq: I will
(08:46:42 PM) mode (+v MintPal-Jay) by loq
(08:46:54 PM) nonproprietary: shibecoin is much legit
(08:47:00 PM) mode (+m ) by loq
(08:47:02 PM) loq: okay
(08:47:20 PM) loq: about this thread and all the other threads
(08:47:29 PM) loq: there are numbers out there, not even fudder can agree on
(08:47:48 PM) binaryclock: i like fud
(08:47:48 PM) tf2honeybadger: I want you to know, that for full transparency, this chat will be logged and posted on bitcointalk as a reply.
(08:47:55 PM) loq: the blockheight of 50blocks contained 50blocks multiplied 125k blockreward
(08:47:57 PM) binaryclock: HI MOM
(08:47:59 PM) loq: okay
(08:48:04 PM) vb`: ^
(08:48:12 PM) binaryclock:
http://shibe.dedicatedpool.com(08:48:19 PM) TrollBoxChamp: i was here for a pivotal moment in crypto history... yay!
(08:48:31 PM) loq: 50x125000=6,250,000 coins
(08:48:35 PM) loq: okay
(08:48:49 PM) loq: out of those 6,250,000 coins, we have premined 13 blocks, which is 0.5%
(08:48:55 PM) loq: AFTER we premined the blocks
(08:49:01 PM) loq: stratum was taken down
(08:49:05 PM) loq: coin was prepared to launch
(08:49:14 PM) TrollBoxChamp: where is the original pool address...it shows how coins were distributed...dispell all this fud
(08:49:20 PM) loq: we have advertised in various irc channels to invite people to join the mining from minute 1
(08:49:27 PM) loq: let me speak
(08:49:39 PM) loq: so we had roughly 30 people in our #shibecoin channel
(08:49:45 PM) loq: at the moment of launch
(08:50:10 PM) loq: we opened a thread on cryptocointalk with the pool information exactly the same moment we opened up registration on the pool
(08:50:18 PM) dragnar left the room (quit: Ping timeout: 240 seconds).
(08:50:20 PM) loq: for the people on irc
(08:50:31 PM) loq: we posted a couple of minutes later on bitcointalk
(08:50:44 PM) loq: that is, how people call it, ninja launch
(08:50:55 PM) loq: but it is 100% legit -> fluttercoin
(08:51:01 PM) loq: they did the same
(08:51:21 PM) loq: so, we revenued the people hyping up the coin from second 1 with a little higher block reward from minute 1
(08:51:49 PM) loq: as everyone else, we the devs, have mined with those 28+ other people from minute 1 legitimately
(08:52:03 PM) loq: nobody rented a crazy amount of hash
(08:52:24 PM) loq: after bct 3 other pools have been opened in less than 20 mins
(08:52:43 PM) loq: people, including me switched from the original pool to other pools to distribute the hash and build up the network
(08:53:02 PM) loq: it took exactly 15mins of smooth mining when someone started hitting with 1ghash solo mining against all of us
(08:53:06 PM) loq: at around block 60
(08:53:18 PM) loq: then, the network grew out of control from that point
(08:53:31 PM) TrollBoxChamp: give jay and bader voice
(08:53:35 PM) loq: the chance was there for everyone, who believed in the coin, who believed in the devs
(08:53:36 PM) TrollBoxChamp: badger*
(08:53:38 PM) loq: both have voice
loq lordfanton
(08:53:43 PM) TrollBoxChamp: o my b
(08:53:44 PM) tf2honeybadger: We can talk, we're just letting loq get his words out
(08:53:53 PM) loq: I have spammed in big channels about this
(08:54:02 PM) loq: people have laughed at me as dogecoin ripoff idiots
(08:54:04 PM) loq: and here we are
(08:54:09 PM) loq: 300people later in irc
(08:54:13 PM) loq: this is the story
(08:54:21 PM) loq: I am holding 1,9million coins in my private wallet
(08:54:49 PM) loq: the 0.5% premine is gone and spend, I have done a listing in #shibecouncil and everywhere I was ask for what we spent it for
(08:55:05 PM) loq: I am not hiding anything and have been open about transparency from minute 1
(08:55:09 PM) loq: nor is energion
(08:55:54 PM) loq: so, if there are any more questions that are uncertain, that need to be answered, I am up for this day and night, but I wish that people stop believing the fud because I can name most of the people that have been in this channel supporting our coin from minute 1
(08:56:11 PM) vb`: one of the reasons i really like this coin and the reason the shibecouncil was formed
(08:56:18 PM) loq: and now those are our pillars of the community helping growing it
(08:56:36 PM) loq: some of those have dumped their early minings already
(08:56:40 PM) loq: I cant help that
(08:57:02 PM) loq: if you have been around from day one
(08:57:14 PM) loq: you would notice that nearly A MILLION COINS have been rained upon the channel
(08:57:40 PM) loq: by everyone, the devs with their superb premine that is faster gone than dust on rainy days
(08:58:00 PM) loq: its your turn
(08:58:01 PM) loq:
(08:58:20 PM) tf2honeybadger: Is that all?
(08:58:34 PM) loq: if there are specific questions feel free to ask
(08:58:42 PM) tf2honeybadger: I think you should /mode -m and let everyone ask at this point.
(08:58:43 PM) loq: but that is the explanation of this fud spread around yes
(08:58:52 PM) loq: okay. but people
(08:58:53 PM) loq: dont spam
(08:58:56 PM) tf2honeybadger: I cannot help but notice that the price is dropping, so I think people do want to talk.
(08:59:01 PM) loq: my eyes are burning
(08:59:12 PM) mode (-m ) by loq
(08:59:14 PM) Foopy64: poopy butts!!!!!!!!!!
(08:59:14 PM) encblot: haha
(08:59:18 PM) ItsYaBoyTaps: Shower time
(08:59:19 PM) alty: the price is dropping rofl
(08:59:20 PM) MalkbabY: The coin is legit.
(08:59:30 PM) alty: it was at 200 yesterday
(08:59:33 PM) gatti: Why does bitcointalk.org have a monopoly on altcoin launches anyway?
(08:59:33 PM) omalley-crypto: tip loq 50
(08:59:34 PM) dR3: mmm delicious dropping
(08:59:35 PM) MalkbabY: just buy some free coins
(08:59:37 PM) Zisef: Tf2 your my boy blue!
(08:59:41 PM) THEHONEYBOOBOO: iv been here for the shibe rain! was awesome
(08:59:45 PM) vb`: ok guys lets try to not spam and go one at a time if you have qquestions
(08:59:52 PM) tf2honeybadger: single file line please!
(09:00:00 PM) dR3: like flies to a buy : P
(09:00:05 PM) binaryclock: someone kick Zisef
(09:00:12 PM) Jamenjaw: hey loq
(09:00:13 PM) Zisef: I love being kicked
(09:00:15 PM) loq: zisef is a welcomed guest
(09:00:18 PM) vb`: in his ass?
(09:00:19 PM) loq: Hi jamenjaw
(09:00:23 PM) sp00lin9_: !balance
(09:00:24 PM) tipshibe: sp00lin9_: You need to be identified with NickServ to tip.
(09:00:26 PM) binaryclock: Zisef is an op in my channel lol
(09:00:27 PM) tf2honeybadger: I'm going to post this now, loq.
(09:00:31 PM) loq: alright
---
(09:01:27 PM) MintPal-Jay: Who owns this address -
http://shibex.theshibecoin.com/address/Sa5bmQiDwDnVFuhgeFSmQ6RjBSxgFA4aTd(09:01:28 PM) loq: and the whole scene
(09:01:40 PM) mode (-m ) by loq
(09:01:41 PM) Foopy64: POOPY BUTTS!!!!!!!!!!!!!!!!!!
(09:01:51 PM) loq: sec MintPal-Jay
(09:01:52 PM) loq: its loading
(09:02:01 PM) energion: MintPal-Jay that is the group digging pond pool address
(09:02:01 PM) maartentjewut: Foopy64 please...
(09:02:06 PM) r0ach: mintpal: not loading for me yet, people keep linking pool addresses and claiming it's the dev tho
(09:02:26 PM) crucher_: we broke the block explorer
(09:02:30 PM) TrollBoxChamp: jay
(09:02:40 PM) TrollBoxChamp: from my understand that was someone renting hash power on nice-hash
(09:02:42 PM) dragnar: test
(09:02:48 PM) TrollBoxChamp: understanding**
(09:02:50 PM) r0ach: mintpal-jay: here is my independent investigation of Shibecoin launch: https://bitcointalk.org/index.php?topic=595767.msg6622938#msg6622938
(09:03:07 PM) loq: I dont know MintPal-Jay
(09:03:14 PM) loq: this wallet seems to be there from day one
(09:03:22 PM) crucher_: if dedicated pool mined the first 50, that address should belong to them
(09:03:25 PM) frst: It is the Groupdig miningpool-wallet
(09:03:30 PM) TrollBoxChamp: i am pretty sure i know whos wallet that is
(09:03:31 PM) energion: That wallet address was the groupdig pool wallet
(09:03:34 PM) alty: mintpal-jay : this is a good coin, it's got great support, will bring lot's of volume, it's clean
(09:03:35 PM) TrollBoxChamp: and they dont hold those coins
(09:03:37 PM) TrollBoxChamp: they sold them
--
As always, you should make your trading decisions based on your own independent research and critical thinking. That is all. I hope this gets resolved quickly and fairly.