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

[Just_Jinn]

Hey guys

I am new to the world of crypto, however I see the potential of XSPEC and have started buying, I am hoping the price continues to drop for a while so I can get more.

I have a few questions for anyone who knows, forgive me if they have been answered already.

1. When XSPEC is more widely adopted and the stealth option in more mature with the ring signatures (as I understand the concept, I may be wrong) will XSPEC be able to rival MONERO for anonymity?

2. How does XST-STEALTH COIN compare to XSPEC, as XST also claims to use the TOR network?

3. How does the anonymity of XSPEC compare to NAV and CLOAK COIN, is it only the TOR integration that sets them apart?

I have done my best to research these things myself, but my understanding is limited.

Thanks

I wished I knew, I would like to add my two cents and put all privacy focus coins in the table to compare as well. Hopefully someone with technical knowledge about them would be able to give us insight and point out the differences


StealthCoin
Crave
Verge
PIVX
Deep Onion
Signatum
Monero
Dash
Spectre
Zcash
Cloak Coin
NAV
Anoncoin
Torcoin
KORECoin
Komodo
Ethereum Dark
Safe Exchange Coin (Omni Token)

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[Gandalf86]

You also have to unlock the wallet for staking. Or at least I did. I still can't find my private key. Just my address.
Can you stake with with stealth? How does this affect the public viewed network weight?
Why is the staking reward higher than the 5% for some and others don't received any reward at all? Only the big dogs, with lots of xspec already, can receive staking rewards? Small guys gets nothing without taking the biggest risk(open wallet) This is seeming more and more iffy.
Seriously, where is the security layers?. Yes there is TOR and OBFS4, and eventually mature ring sig. But you don't even have a a password on the wallet without much digging. Anyone could see the info you must display when staking.

Maybe I'm just being a total newb. But this coin has to be new user friendly if it's going to compete with the big dogs. It's a secure, stealth coin, with good tech. But Tech is almost useless if most users can't figure it out. Those who have the knowhow are already using other, older coins.  

We need a tutorial! Make it so easy you can't not use it!

The problem is: This is exactly the same for ALL coins. In every POS coin I have seen, there are newbies asking "how do I stake, what are the requirements for staking" etc. The answers are always the same, because the concept, proof of stake, is always the same. It would only require hitting Google and getting some knowledge about what is happening here, e.g. what POS is! You cannot expect people to explain to you how to drive a car, if you don't know what a gearshift is. And people are not asking how to drive a car here, they are asking "how do I drive this car?". The same way as you drive any other car man. Maybe try learning about cars first before you buy one.  

Sorry this is not meant to be unfriendly or disrespectful. Maybe I will add a section about it to the Wiki article at one point.

To answer your Specte-specific questions:

• You cannot stake with a stealth address (yet).Whether you can stake or not depends on the type of balance, either public or private. See the post below.
• Yes, the password only protects access to your private key, not the entire wallet (yet).

[vanillagalaxy]

• You cannot stake with a stealth address (yet).

obviously even an old member could get you the wrong answer.
you can stake with a stealth address as long as this address is not the stealth address that you are using in the "PRIVATE" account.

[Gandalf86]

• You cannot stake with a stealth address (yet).

obviously even an old member could get you the wrong answer.
you can stake with a stealth address as long as this address is not the stealth address that you are using in the "PRIVATE" account.

Actually you are right, coins are not "stored" in a stealth address. Either you send coins to it and it creates a new public address, in which case you can stake. Or you send ring signature tokens to it, in that case you can't and it will be displayed as private balance. Thanks for pointing out. 

[srqrebel]

Leaving a device connected 24/7 is risky

This is not the first time I have seen this claim, with regard to staking.  Can someone please explain the reasoning behind this?

Because, even if there is risk associated with having a wallet open for staking (despite it being password protected against hacking), that risk is present any time the wallet is open for staking, even if just part time.  While I understand that the less time a device is connected and a wallet is staking, the lower the risk, I also understand that the reward is likewise lower.

So, what really matters is the risk to reward ratio.  Does that ratio increase when the wallet is left open for staking 24/7, and if so, how?

[Virtuoso]

Staking on a stealth adress would be a very amazing feature.

[gildinglite]

Wallet is a beauty, dropped these nodes in Spectrecoin.conf for an excellent connection:

https://novaexchange.com/addnodes/XSPEC/

[Gandalf86]

Staking on a stealth adress would be a very amazing feature.

Yes. I'm pretty sure it will happen sooner or later. A colleague of JBG will join, first for just a month. He's a cryptographer. Maybe we can make him stay  

Leaving a device connected 24/7 is risky

This is not the first time I have seen this claim, with regard to staking.  Can someone please explain the reasoning behind this?

Because, even if there is risk associated with having a wallet open for staking (despite it being password protected against hacking), that risk is present any time the wallet is open for staking, even if just part time.  While I understand that the less time a device is connected and a wallet is staking, the lower the risk, I also understand that the reward is likewise lower.

So, what really matters is the risk to reward ratio.  Does that ratio increase when the wallet is left open for staking 24/7, and if so, how?

That's a very good question. It depends on your attack scenario. Computer stolen? Server compromised through a Windows update? Remote NTP exploit? The last two would be doomsday-like global scenarios. The latter risk does increase with time if you keep your computer alone, but if you encrypt your wallet and the power gets plugged, they will not be able to access it. Another case would be that someone comes to your house and tries to access the running system, in that case locking the screen with a password should help against most attackers. Personally I don't see any reason security-wise to not keep my home server running 24/7, and have the wallet unlocked.

[bzyzny]

To clarify, I'm pretty sure when you enter your password and check the staking only option, it still requires you to enter the password again to send a tx. So coins can't be stolen that way. However I'm curious if the staking keeps the private key in RAM, if so then it is vulnerable to hacking/virus, and ram dump if attacker has physical access. Anyone know if key is kept in RAM during staking?

[HippiePyro]

Your not being rude. And yes I did figure it out on my own. My point is this. You say that this happens with every POS coin. Spectre is different and should be in this regard too. If you can make the user feel secure, that is over half the battle. Being secure is one thing. Feeling it is what will bring people en mass.
Google hasn't answered me on why larger amounts get paid more often. Obviously they would get more having a larger amount. But why do they get paid multiple time a day versus 40+days for the little guy.

[Bitman86]

There are two kinds of people for staking:

1- Those who see Staking as a Solution: Ok Staking. BTC

2- Those who see Staking as a Problem: No Staking.

In my opinion this is the best Guide for Staking.  

[uscoin1]

fyi...  this guys says with each gov't crackdown, privacy coin will rise.

"Govt regulation is coming sooner rather than later. The harder they crackdown, the more privacy coins rally. You need a position them."

https://twitter.com/leoncfu/status/905601576596893696

[srqrebel]

Google hasn't answered me on why larger amounts get paid more often. Obviously they would get more having a larger amount. But why do they get paid multiple time a day versus 40+days for the little guy.

I'm just going on my personal deduction, but it seems to me that it is because no matter what quantity of coins one is staking, the payout is a constant two-point-something XSPEC (a quantity which seems to gradually decrease over time; not sure why, unless it reflects distribution across a greater percentage of coins being made available for staking, over time).

So, since 2 XSPEC is a much larger percentage, of, say, 100 coins available for staking, than 10,000 coins, it pays out at much greater interval than it would for 10,000 coins.

So, if you were to receive, on average (because it is a lottery system, after all), 1000 coins per year if you were staking 10,000 coins, then you would likewise receive 10 coins per year if you are only staking 100 coins.  Since staking rewards are always around 2 XSPEC, that means you would receive an _average_ of only 5 payouts or so per year, as opposed to 500 or so payouts per year if you were staking 10,000 XSPEC.

Make sense?

[srqrebel]

Incidentally, I used a 10% average staking reward for my above example.  That is actually lower than the actual current annualized staking reward based on the number of coins one has available for staking (IF one stakes 24/7), despite only 5% being added to the overall XSPEC supply per year.  The discrepancy is due to the fact that the majority of XSPEC are not available for staking at any given time.  Some people _never_ have their wallets open for staking, some do it only part time, and others park their coins at exchanges (where they cannot be staked).  The result is that the 5% per year is distributed among those who do stake, with those who stake 24/7 taking the largest quantity of staking rewards.
(Which is only fair, of course.)

[bzyzny]

Srqrebel, I believe you are correct. For anyone trying to stake with a smaller amount, I'd suggest making sure all your coins are in a single UTXO. For example if u buy 100 xspec, withdraw it to your wallet, and then buy and withdraw another 100 xspec, your wallet will consist of 2 unspent transactions (UTXO). In this case, send all the coins to yourself, now they are all in 1 UTXO. Statistically, it shouldn't make a difference in the long term, but having a higher staking weight seems to give rewards on a more consistent basis, instead of varying randomly. The amount you earn is the same, just less variability in when staking occurs. This is just my observation, I may be wrong.

[HippiePyro]

Yes that makes sense now, thank you

[LIghtvelocityCoin]

Wallet is a beauty, dropped these nodes in Spectrecoin.conf for an excellent connection:

https://novaexchange.com/addnodes/XSPEC/

I can get connected before 28th August in China. But since then, I can't connet and sync with several pc.
Who suffers the same problem?

[RKh]

Wallet is a beauty, dropped these nodes in Spectrecoin.conf for an excellent connection:

https://novaexchange.com/addnodes/XSPEC/

I can get connected before 28th August in China. But since then, I can't connet and sync with several pc.
Who suffers the same problem?

Please join XSPEC Slack, there are devs answering questions on support channel

Thanks for reporting

[artmen007]

For the first 2 days it's a couple of coins and then almost 10 days have passed and silence... all of this?

[DRPD]

For the first 2 days it's a couple of coins and then almost 10 days have passed and silence... all of this?

what do you mean: staking rewards?
i can confirm that my staking rewards are rolling in just fine the last 10 days