"Is the shit" is a phrase that is grammaticly incorrect. The phrase implies that something, or someone "is the shit", not suggesting the negative meaning of the word "Shit". The word "shit" is infact transformed in to a very strong, positive word, when put in this sentence; it can describe almost everything.

A term used to reference cannabis/marijuana/weed.

a phrase that implies the exact opposite of what it entails, instead of a negative connotation. Many a netizen have mistaken "is the shit" for implying what it literally means. What doesn't help is those who use it incorrectly as well. The plural form of "is the shit" is "are the shit".

After smoking weed and getting high. One enters the realm of social networking with friends and starts a conversation exclusive as of containing the word "I" followed by any other word. The receiver of these messages should replying in the same taste following these simply rules. These conversation may stretch to any point as long as the rules are never broken. The conversation may last indefinitely.