I have already backed up the wallet.dat and have it saved in a safe space. Does this action need to be repeated as coins are added through staking and purchasing new XSPEC?
It does not
need to be repeated, as the .dat file essentially just IDs your 'place' on the blockchain. However, it's a good idea to make multiple backups through time to be extra careful and to protect yourself against file corruption, etc. This becomes more important if/when the devs implement any significant new feature.
I have a similar question as the wallet.dat; do I need to repeat this exportprivkey process as my wallet grows from staking and new XSPEC purchases?
Same answer as above re: repetition. Re: syntax, just to confirm, you're using
exportprivkey <Public Address>
...yes?
If I encrypt my wallet performing what functions will require me to un-encrypt?
Your wallet needs to be unlocked to stake, and to perform transactions. However, there are two levels of clearance: you can unlock your wallet 'for staking only', or you can unlock it completely. E.g., if you unlock it for staking only, you would need to enter the password and unlock a second time in order to transfer funds.
Not saying this is the best possible way to do it, but personally I keep any passphrases that I can't remember on a dedicated USB key. Since the wallet needs to be running to stake, and since there will always be occasional issues (power outage, OS crashes, hardware trouble, need to upgrade wallet, decide to transfer some coins, etc.), you will need to have more-or-less reasonable access to your passphrase.
Most importantly are there any other security measures you recommend?
Use a dedicated staking computer. Get a refurbed/older laptop or RPi (min. 2GB RAM), buy a new hard drive, make a clean OS install on it, and then never go online with it (other than to stake)--transfer all installation files using a USB key. Linux is safer if you're comfortable with it, but Windows is fine if you are careful. If the latter, go to town on firewall/AV/anti-malware software.
Lastly (I promise!) is there an easy way to find out how many coins are in circulation and how many are currently staking? I saw some one mention offhand that there are about 20 million in circulation but only 8 million are being staked.
You can see how many XSPEC there are, plus a lot more info, on an XSPEC block explorer; e.g.
https://chainz.cryptoid.info/xspec/To the best of my knowledge, the number of coins currently staking is the network stake weight, which is displayed in your wallet when you hover over the SpectreCoin logo in the upper right. Your own reward rate depends partially on this. See the following from Reddit user bitcoinx2:
[Staking is] 5% per year. So that's about 0.01337% of your balance per day on average (because X^365 = 1.05 resolves to X = 1.0001337). Your expected reward per day is X*0.0001337, and you have to wait 2/(X*0.0001337) per days on average (because the block reward is currently ~2 XSPEC). That number of days is what the wallet calls "estimated waiting time" or so when you hover the staking icon. Note that the process is random, so you can have good luck or bad luck on certain days.
This is only a rough formula though, because with PoS v3 the actual staking payment depends on the network weight as well, so in reality you get "coinSupply / networkWeight" times the reward. Like, when only 50% of the total balance are staking, you would get twice the reward.
This latter point is why the actual reward rate is higher than it 'should' be right now.
I apologize for all the questions but I want to get this right because I see a very bright future for Spectre Coin and I want to ensure my investment is safe, especially after hearing all the stories about people losing millions in BTC to theft and stupidity.
You sound like you are already thinking more carefully about this than 99% of people, so you'll be fine. Just use common sense, make backups, and don't use your staking computer to look for porn. Also, XSPEC is a cool project, but there are other cool projects as well; as in 'real life', consider diversifying your investments to spread your risk around. And, of course, don't invest any money in crypto that you can't afford to lose--this is a very fun but very risky place.
