[ANN]Spectrecoin[XSPEC] TOR+OBFS4, Ring Sig, Stealth!

[Zer0Sum]

Yes same principle of narrow distribution and collusion/market manipulation.I think with this project it was not as fully intentional as with them though.

Still once it has such narrow initial distribution it is very hard to correct it intentional or not.

Perhaps the whales should hand over 50% of their tokens and give it out freely to the board like deep onion.... although whales will never do that.

Just my opinion others owning this will have their own different opinion.

Most people use CMC as a tool for investment it is irresponsible of them not to rank initial distribution.

A narrow initial distribution and market manipulation killed Bitcoin... oh wait.

Let's just go straight to "interesting project"...
In a world where Monero is worth $2 billion... it's nice that someone is building on the SDC code base.

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[Beachguy]

@Cryptohunter @3x2 - Moderator here....I posted about these endless walls of text some folks seem to feel necessary to make a point.
They're distracting, serve no useful purpose and I will not have them in this thread.
Please
 clean them up and reduce the size.
You have 12 hours or I will clean them up for you.

[TalRasha]

Yes same principle of narrow distribution and collusion/market manipulation.I think with this project it was not as fully intentional as with them though.

Still once it has such narrow initial distribution it is very hard to correct it intentional or not.

Perhaps the whales should hand over 50% of their tokens and give it out freely to the board like deep onion.... although whales will never do that.

Just my opinion others owning this will have their own different opinion.

Most people use CMC as a tool for investment it is irresponsible of them not to rank initial distribution.

A narrow initial distribution and market manipulation killed Bitcoin... oh wait.

Let's just go straight to "interesting project"...
In a world where Monero is worth $2 billion... it's nice that someone is building on the SDC code base.

4% owns 97% of the Bitcoins. https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html But 4% in bitcoin is 500 000 addresses

Maybe its going to sound stupid. But I was thinking a bit, and what can whales of spectre do in here, is to do a so called 2nd coin offering. They can get a bunch of coins and offer them at a fixed price. If the top 100 wallets owns 99%. It should not be a problem to manage the whales "angel investors" to sell some of their coins, promote the 2ndCO on the internet and sell lets say 50% of thier coins at a fixed price. For example 0,50 Dollars a coin and the coin offering lasting for one year or till all the offered coins are going to be sold out. 10 000 coins for a wallet cap to ensure wider distribution.

So they can re-sell 50% of the coins to more people and earn some money.

Someone is going to say that we have a free market for it, but if 100 people owns 99% bigger investors are going to back up. I think Basic Attention Token had the same problem... But they sold only  1 billion tokens to the whales. 0,5 billion is going to be redistributed better. So at least something.

[Beachguy]

I think you're getting carried away with your self.
The topic here is xspec....not ramblings. 

[puremage111]

price dumped abit due to the btc minor crash, seems people are cashing out alts to btc to fiat tho

Means, time to get more stealth!

[bamb]

This is the coin the market has been waiting for! The possibilities is xspec. We need xspec now more than ever! I will always stash this coin.

[Gandalf86]

This is the coin the market has been waiting for! The possibilities is xspec. We need xspec now more than ever! I will always stash this coin.

Yes I think we have the possibility to become one of the big players and challenge Monero. We have the right devs, and we have the necessary funds. It's only a matter of time.

[mandica]

the reason this will not take off is because the majority was distributed to only a handful of people at the ico.


initial distribution is very important.

otherwise it looks an interesting project.

Well then, how do you account for our fiat system by which the 1% of wealth is equal to the other 99%?

Use logic in your arguments.

Everyone cried about this ICO being a scam and now everyone crying about how distribution is unfair because they did not get ICO price.

If you think this isn't going to work, get off this forum or take that stupid logic elsewhere.

For some of us outside of the Western world, Spectrecoin is the only reliable cryptopcurrency, don't tell us it 'wont take off' because of your 'logic' which clearly only involves your little western brain with its little western perspective.
 

You speak of logic but do not fully understand the term.

Narrow distribution is open to collusion and market making.

People do not want to invest in projects where their investment and security are in the hands of a few people. Have you heard of the term decentralisation? if not give it a google if youre even permitted access to that by your masters.

Lol some tor tweaks is all that is needed to make spec the only reliable cc outside of the western hemisphere. Quick i better tell the dev teams outside of this thread so they can get in on the action. No wonder they are missing out on all this volume.

Its not only about the ico price it is the distribution and that being this narrow makes it vulnerable to collusion and market making. How reliable will it be for you  when the value/security is in the hands of just such a few people..

You fuck up the initial distribution you fuck up the project. A few get away with it.

This one was far too narrow.

Also collusion was evident from the start. I watch the exchange prices 80 sats ico ....  never hardly dipped below 2000 sats exchange. This demonstrates high collusion and market making.

Sorry but it is a tough road from here for spec because I hear there is a new version of coinmarketcap coming that will investigate and rank the initial distribution of the coin for greater investment security.

So you are saying that Spectre is not decentralized because of its initial distribution? It is still decentralized. Once those whom hold large quantites sell, the wealth becomes spread out, unlike the initial ICO quantities. Pretty straight forward.

My argument is that 1% of the worlds wealth is equal to the other 99%. Its pretty ironic that the solution is in the problem itself. Do you now understand?

Furthermore, can you give us a 'solution' to your 'problem' so we can move forward, rather then backwards. We are all moving backwards here by arguing with your 'logic'. So give us a positive 'solution' lets here it:

What seems straight forward to you is not actually straight forward.

When initial distribution is so narrow it is IMPOSSIBLE to know what those whales do and when especially so with a coin like this.

Why do you think CMC  is being updated with infographics about initial distribution? because if that is screwed up after this it is impossible to tell who owns the wallets the whales appear to be selling to.

This is also flawed because until they have sold it all who is to know if the devs are some the whales (which would make sense) and when they are sold out to others development stalls.

POW with a fair release protocol is the only way to ensure fair and wide distribution.

Hugely advertised icos that are open ended are the best form of ico but sadly even they can be gamed.

When it is apparent a handful of whales initially took all the coins there is no real way to solve the issue. It is now a high risk investment for anyone.

Sure if you can it all out to 6 people you can call it decentralised if you want. Nobody will take you that seriously though.

Look on the bright side the collusion between the whales held tight and even if it sinks back to 2000 sats or less you all made some profit.

Certain coins pull this off but not to the extent it appears by using cmc for volumes and cap. Most of that is whale insider buying and selling back to themselves.

Anyway it is actually a shame because i do think it wasnt and intentional insider scheme like you say ppl didnt buy because they devs didnt make a convincing case to persuade people it wasnt a scam... then again perhaps that was intentional to keep distribution narrow.. YOu will never know.

In principle i would never buy into a project where a few whales are making their own market prices.

Your best hope is noobs that don't know about the narrow distribution or high risk takers jump on it.

Either way was not a good start and it has held this back.

This is the state of things. The ICO did not deliver the wide distribution we hoped for and due to intensive trolling and scam accusations against us many people chose not to invest. At the time of the ICO we could not go back and restart the project and so against the odds we decided to move on. In retrospect, maybe some things around the ICO could have been done differently but here we are. You may or may not believe me but I am not such a whale and only retained what was stated in the ICO documentation. However, I believe that we have proved that we did not intend to abandoned the project and our new lead developer is now working full time to bring about the updated roadmap: https://spectreproject.io/roadmap/

Yesterday (Friday) I met with the lead dev @jbg (Slack, he is not on this forum) and we discussed the roadmap in detail and also outlined some additional features and ideas for the medium term. We also discussed hiring a cryptographer / programmer full time to work on the project. I am positive and confident at this stage that we can bring a stable and anonymous crypto to the users as promised and that once we are past 1.4 which will have a completely new UI people will see that we are serious about what are aiming to achieve. We have a very supportive community, highly competent developers and now funding to keep it going.

Whales exist in any crypto and not least Bitcoin and that has not stopped it from becoming widely distributed. The user base will expand and whales will dump and distribution will occur over time. We have a nice development momentum and ideas at the moment and I think people can judge for themselves and I have no doubt that we have a unique vision for this coins and we can make it happen.

[VEEGOLD]

This is the state of things. The ICO did not deliver the wide distribution we hoped for and due to intensive trolling and scam accusations against us many people chose not to invest. At the time of the ICO we could not go back and restart the project and so against the odds we decided to move on. In retrospect, maybe some things around the ICO could have been done differently but here we are. You may or may not believe me but I am not such a whale and only retained what was stated in the ICO documentation. However, I believe that we have proved that we did not intend to abandoned the project and our new lead developer is now working full time to bring about the updated roadmap: https://spectreproject.io/roadmap/

Yesterday (Friday) I met with the lead dev @jbg (Slack, he is not on this forum) and we discussed the roadmap in detail and also outlined some additional features and ideas for the medium term. We also discussed hiring a cryptographer / programmer full time to work on the project. I am positive and confident at this stage that we can bring a stable and anonymous crypto to the users as promised and that once we are past 1.4 which will have a completely new UI people will see that we are serious about what are aiming to achieve. We have a very supportive community, highly competent developers and now funding to keep it going.

Whales exist in any crypto and not least Bitcoin and that has not stopped it from becoming widely distributed. The user base will expand and whales will dump and distribution will occur over time. We have a nice development momentum and ideas at the moment and I think people can judge for themselves and I have no doubt that we have a unique vision for this coins and we can make it happen.   Let people say whatever they like but with what I have seen so far this project will stand out in no distant future its unfair distribution now maybe then it will be the price is beyond their reach hehe

[sirsplashalot]

@cryptohunter: I asked for a valid solution, not one that involves a time machine. As you can see from above, Spectre developers are transparent and looking to take this further then whatever elaborate exit scheme you have fantasized it to be.

I am very much so happy to keep that public address on the blockchain and I wish more would do the same.

[Just_Jinn]

This is the coin the market has been waiting for! The possibilities is xspec. We need xspec now more than ever! I will always stash this coin.

Whats the difference between Spectre and Deep Onion? Also there is Verge and Crave in the horizon

[HippiePyro]

Whats the difference between Spectre and Deep Onion? Also there is Verge and Crave in the horizon

Well for starters Spectre hasn't been hacked like deep onion, nor do the devs make you work for your coin.

As for technical differences
Spectre has OBFS4 in addition to standard TOR. This allows it to be used in places where TOR is banned.

Spectre gives you the choice of wallets and transactions as public or private on several levels. Ring Sigs and stealth addresses, plus tor. This gives you true completely untraceable anonymity if you wish to have it.

Spectre also has low power mobile staking, in testing due to be released in a few months. This is the first tech of its kind and could essential turn every mobile into a "node" for the network and a savings account for the users.

XSPEC is the only coin to offer all this and more. This is only the beginning, much more in the wiki.

http://coinwiki.info/en/SpectreCoin#Specifications

[TalRasha]

I understand that spectre did not get a lot of attention during the ico, few investors owns a lot of coins and thats not the fault of the development team or the investors. They had an idea and offered anyone to come and join. Well I was not into crypto back then. Did not have the knowledge I have now, and I didnt understand the Ideas that people in crypto were fighting for. Many of them to make society and payment system work better, working equaly good for everyone. And its a legit that Devs and Investors want to be rewarded for the time or risk they took and are still taking.

@cryptohunter: I asked for a valid solution, not one that involves a time machine. As you can see from above, Spectre developers are transparent and looking to take this further then whatever elaborate exit scheme you have fantasized it to be.

I am very much so happy to keep that public address on the blockchain and I wish more would do the same.

I was thinking about the solution that doesnt require time machine. And its not a problem that there are invisible wallets that we cannot see, if you can see 1000 visible wallets owning 99%.

Just in theory:
You could  take 100 angel investors who owns 87% and create common interest. Interest would be to hold the price growth of the coin very slow and steady, allowing more people to get in. Hold this tactics until you are going to get enough users on board. Use the money as you do now, to fund development and add public relations, advertising or lets say informing, spreading the IDEA, explaning benefits, while creating constant demand for the coin, healthy growth, wide user base, more internet shops that accept it etc.

Example: Set the price on the 1 dollar per coin + slow growth. Until you wont get rid of 50% of top 100 holders coins. Thats almost 40%, 8+ million dollars for early investors and developers for advertising, growing network.

Create the network effect - more people coming in, telling others about their investment, pushing the price higher. You could use the 5% stake reward to achieve that, during bigger hypes you would have to sell of some of your coins. Dont try to maximaze own short term profitability, but grow the network, which is going to reward you long term.

This is the best idea that comes on my mind at the moment. Or just use invisible wallets for everyone (if thats possible) and delete the posts complaining about it  

[babsjoe]

I heard there was a lots and lots of premine for this coin. Also heard this coin is ne of the safest coin in the world.

[Just_Jinn]

Whats the difference between Spectre and Deep Onion? Also there is Verge and Crave in the horizon

Well for starters Spectre hasn't been hacked like deep onion, nor do the devs make you work for your coin.

As for technical differences
Spectre has OBFS4 in addition to standard TOR. This allows it to be used in places where TOR is banned.

Spectre gives you the choice of wallets and transactions as public or private on several levels. Ring Sigs and stealth addresses, plus tor. This gives you true completely untraceable anonymity if you wish to have it.

Spectre also has low power mobile staking, in testing due to be released in a few months. This is the first tech of its kind and could essential turn every mobile into a "node" for the network and a savings account for the users.

XSPEC is the only coin to offer all this and more. This is only the beginning, much more in the wiki.

http://coinwiki.info/en/SpectreCoin#Specifications

Could Spectre have Masternode feature?
Why when Bitcoin goes down Spectre follows the same pattern? Verge and Crave don't follow this pattern which is nice in my opinion. Most investors don't want to lose their marbles if Bitcoin loses $1.000 overnight

[Gandalf86]

I heard there was a lots and lots of premine for this coin. Also heard this coin is ne of the safest coin in the world.

The word premine does not apply to this coin because we're not mining, it's POS. The team held 5% at the beginning to pay the early devs, now what is left is 1% of the coin supply (200k). That's not too much IMO.

It's certainly not "the safest" because that is difficult to prove. We're aiming at becoming the most privacy-supporting payment method, where people can exchange cash for Spectre and vice versa, without being monitored. It's a community project, everyone who wants to help can be part of it.

[Gandalf86]

Could Spectre have Masternode feature?

Probably not. Masternodes with POS just further contribute to centralization of the control over the network. We try to stay as decentralized as possible, where everybody can support the network by staking/forging.

[Beachguy]

Why when Bitcoin goes down Spectre follows the same pattern? Verge and Crave don't follow this pattern which is nice in my opinion. Most investors don't want to lose their marbles if Bitcoin loses $1.000 overnight

So now you're thinking Bitcoin is going down?
And that one abandoned project and one pump and dump coin are the way to go? 

[justvamp]

Why when Bitcoin goes down Spectre follows the same pattern? Verge and Crave don't follow this pattern which is nice in my opinion. Most investors don't want to lose their marbles if Bitcoin loses $1.000 overnight

In my opinion this coin feels pretty good. It got x5 for the last couple of weeks and the correction was quite small comparing to other coins.
A correction is not a bad thing though -- other people will use this chance to buy the coin while it's relatively cheap and the price will go up.

[bananadines]

Is there anyone that tried to stake the coins on a rasperry pi? I thought about staking some coins with a debian and i think one of these coins will be XPSEC Very nice to see that the most stakingcoins growing up slowly. Maybe I should add some more long term positions.