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

[naftaman]

My Spectrewallet 1.3.5. is no more syncing - it hangs on syncing - anybody got a solution ?
Yesterday staking & syncing no problems - i got no error - but it hangs on syncing.

Same with me

[yiminh]

any plan for smart contracts?

[hroub]

My Spectrewallet 1.3.5. is no more syncing - it hangs on syncing - anybody got a solution ?
Yesterday staking & syncing no problems - i got no error - but it hangs on syncing.

Same with me

Try in the debug console the command :

Code:

rewindchain 1000

If this doesn't work for you guys, you could go to the discord #support channel:
https://discord.gg/pteDyhF

[btctalker77]

Now, and finally, the system-wide interest is fixed at 5% (i.e. 5% of approx. 21m = 1.2m per year at present),  but this amount is spread among the staking population only, and thus, on an individual wallet level, the effective interest received is currently somewhere between 10% and 20%

Is this true? Is this how the POS interest works? This is really bad news for regular investors who are not stalking...

I thought the interest is 5%, and if only 1/3 of the coins are used for stalking, than the total inflation would be only 1.66%

That would mean lower inflation. It's really unfair for those who are not stalking if the system works as you describe it. If some people get 10% to 20% interest while others get zero, the difference is very big. 5% vs zero would be more fair.

[Cubirez]

Now, and finally, the system-wide interest is fixed at 5% (i.e. 5% of approx. 21m = 1.2m per year at present),  but this amount is spread among the staking population only, and thus, on an individual wallet level, the effective interest received is currently somewhere between 10% and 20%

Is this true? Is this how the POS interest works? This is really bad news for regular investors who are not stalking...

I thought the interest is 5%, and if only 1/3 of the coins are used for stalking, than the total inflation would be only 1.66%

That would mean lower inflation. It's really unfair for those who are not stalking if the system works as you describe it. If some people get 10% to 20% interest while others get zero, the difference is very big. 5% vs zero would be more fair.

Considering that the stakers are the ones to keep the network going, it is fair that they get interests out of it.
It is the same with Pow coins, miners get rewarded for their efforts, and not the others.

In any case staking is very easy to set up compared to mining. You just need to leave a wallet running on a computer. You could also do it from a VPS. + a few post above, an exchange allowing staking from the exchange wallet was mentionned, which would be even easier to use (never tried it though)

[Gandalf86]

Is this true? Is this how the POS interest works? This is really bad news for regular investors who are not stalking...

I thought the interest is 5%, and if only 1/3 of the coins are used for stalking, than the total inflation would be only 1.66%

That would mean lower inflation. It's really unfair for those who are not stalking if the system works as you describe it. If some people get 10% to 20% interest while others get zero, the difference is very big. 5% vs zero would be more fair.

It's meant to be an incentive to support the network, it's not meant to be fair. Some coins have 25% or even 100% per year. 5% isn't a lot actually. If you feel like you are missing out, just set up a Raspberry Pi for staking, or let the wallet automatically start on operating system start on your PC.

[Beachguy]

Is this true? Is this how the POS interest works?

https://www.investopedia.com/terms/p/proof-stake-pos.asp

Sounds like you need to learn more about crypto currencies ...Google is your friend....For PoW coins...the miners provide the network. Fewer miners means slower network and slow transactions. Their reward is a share of a block or perhaps the whole block.

The folks holding and staking are providing the network and assuring steady,fast transaction times. Their reward is their stake.

People DO have a choice you know, to stake or not stake.
But, somebody has to do something or there's no network.

[Inkognito222]

Community, please support xspec

https://twitter.com/cryptowhaletips/status/961049588755922944

[naftaman]

Hi guys, I´m getting this, my staking power should be much higher, I don ´t have any coins reserved for "not staking"

[snowboard]

Community, please support xspec

https://twitter.com/cryptowhaletips/status/961049588755922944

VOTING TIME!!!  REMINDER!!!!

Leave your wallets for what it is and VOTE!!

[EleanorZ]

Hi guys, I´m getting this, my staking power should be much higher, I don ´t have any coins reserved for "not staking"

You just received a stake today (based on the transactions in your wallet), so a portion of your coins will be in the process of re-maturing before they can stake again. Your stake weight will increase back to 'normal' once this happens. Everything is fine; this is the same as with most/all PoS coins.

[Acura3600]

My Spectrewallet 1.3.5. is no more syncing - it hangs on syncing - anybody got a solution ?
Yesterday staking & syncing no problems - i got no error - but it hangs on syncing.

Same with me

Try in the debug console the command :

Code:

rewindchain 1000

how long does the process gonna be ?
I'm about to delete and reinstall the wallet, maybe this will solve the problem

[snowboard]

Again an oppurtunity missed, because off ignorance..


60%SHIELD (XSH)
30%Spectrecoin (XSPEC)

You guys (some) are complaining about lack of marketing etc etc... we don't have the budget to do good marketing at the moment as i understand.. so we have to grab every opportunity by the balls..

[Alterberg]

One of my favorite coins. I can not wait to come! Good luck in development and greetings to all who contribute

[btctalker77]

Is this true? Is this how the POS interest works? This is really bad news for regular investors who are not stalking...

I thought the interest is 5%, and if only 1/3 of the coins are used for staking, than the total inflation would be only 1.66%

That would mean lower inflation. It's really unfair for those who are not staking if the system works as you describe it. If some people get 10% to 20% interest while others get zero, the difference is very big. 5% vs zero would be more fair.

It's meant to be an incentive to support the network, it's not meant to be fair. Some coins have 25% or even 100% per year. 5% isn't a lot actually. If you feel like you are missing out, just set up a Raspberry Pi for staking, or let the wallet automatically start on operating system start on your PC.

I get the incentive part, and it is normal to work this way, but the way it is described is misleading. When you say 5% interest for staking, I think about 5%, not 10%-20%.
When you get interest for a term deposit in a bank and the interest rate is 5%, you get 5%. It doesn't matter if other people keep their money in checking accounts and don't get any interest, you will still get only 5%. The bank doesn't calculate a 5% interest for all the money held by the bank, and then distribute it proportionally to those who have term deposits. It doesn't work this way, and any person who understand the concept of interest knows I am right.

This is why the way POS interest is described here is not the normal way interest works, but a very strange way.

I am also invested in NAV Coin, another POS coin, and from the discussions I've seen in their threads, it seems that the interest rate is exactly 5% and the coins that are not stalking are not generating any interest. In their case, the inflation is about 2.5% instead of 5% because around half of the coins are not stalking. This is how people are describing it. Now, after what I read here, I'm not even sure if NAV works the way I understood it does.

You also said "Some coins have 25% or even 100% per year." which is true, but nobody would invest in such coins unless he/she is a staker.

There must be a balance between the incentive to support the network and the inflation that affects regular investors/users who are not staking. The major fiat currencies like USD and EUR have a target inflation rate of around 2%, and people still complain about it. As a comparison, 5% for the whole monetary mass is big. If the interest was working the way I thought it did and the stakers got 5% while the rest got zero, than the inflation rate would be only 1.66% if only one third of the coins are staked, which is much better.

Remember that Bitcoin got successful once the mining rewards got low, and regular people who just wanted to buy/hold/spend got into the game. If miners would still be earning thousands of Bitcoins without a cap on the maximum amount of potential coins, there would be zero interest from the general public. And a coin made only of miners/stakers is not a coin.

[pvk444]

...

I get the incentive part, and it is normal to work this way, but the way it is described is misleading. When you say 5% interest for staking, I think about 5%, not 10%-20%.

...

If it's misleading, then just think of the 5% as the yearly increase in supply which will be distributed to all online wallets in proportion of the amount the online wallets hold and the time the wallets are online.

Even if you want to hold on to the view of the 5% as the interest received, then one option is to think of 5% as the base return that you will receive from staking and anything above that as a bonus which depends on the overall online network.

I personally like the idea that I am "guaranteed" 5%, but in reality can expect more (an unknown amount) due to the online / offline distribution of XSPEC.

If you start with 10% or 20% as the expectation, you will likely be disappointed in the long term, due to the fluctuations.

[pvk444]

There must be a balance between the incentive to support the network and the inflation that affects regular investors/users who are not staking. The major fiat currencies like USD and EUR have a target inflation rate of around 2%, and people still complain about it. As a comparison, 5% for the whole monetary mass is big. If the interest was working the way I thought it did and the stakers got 5% while the rest got zero, than the inflation rate would be only 1.66% if only one third of the coins are staked, which is much better.

Another point I want to make: setting the 5% at the overall supply level guarantees that you know exactly how supply will grow. To ensure this system-wide certainty one has to accept variations at the individual wallet level (but as mentioned previously, these fluctuations do not impact wallets negatively, as they always receive MORE not less).

If you fix the dividend at the individual staking level, it becomes impossible to accurately predict the true increase in supply.

For price / market stability the overall system-wide features are more important than those at the wallet level. Thus, even economically, this system implemented by XSPEC I find much better than those where the overall supply can fluctuate randomly.

[Gandalf86]

I get the incentive part, and it is normal to work this way, but the way it is described is misleading. When you say 5% interest for staking, I think about 5%, not 10%-20%.
When you get interest for a term deposit in a bank and the interest rate is 5%, you get 5%. It doesn't matter if other people keep their money in checking accounts and don't get any interest, you will still get only 5%. The bank doesn't calculate a 5% interest for all the money held by the bank, and then distribute it proportionally to those who have term deposits. It doesn't work this way, and any person who understand the concept of interest knows I am right.

This is why the way POS interest is described here is not the normal way interest works, but a very strange way.

I am also invested in NAV Coin, another POS coin, and from the discussions I've seen in their threads, it seems that the interest rate is exactly 5% and the coins that are not stalking are not generating any interest. In their case, the inflation is about 2.5% instead of 5% because around half of the coins are not stalking. This is how people are describing it. Now, after what I read here, I'm not even sure if NAV works the way I understood it does.

You also said "Some coins have 25% or even 100% per year." which is true, but nobody would invest in such coins unless he/she is a staker.

There must be a balance between the incentive to support the network and the inflation that affects regular investors/users who are not staking. The major fiat currencies like USD and EUR have a target inflation rate of around 2%, and people still complain about it. As a comparison, 5% for the whole monetary mass is big. If the interest was working the way I thought it did and the stakers got 5% while the rest got zero, than the inflation rate would be only 1.66% if only one third of the coins are staked, which is much better.

Remember that Bitcoin got successful once the mining rewards got low, and regular people who just wanted to buy/hold/spend got into the game. If miners would still be earning thousands of Bitcoins without a cap on the maximum amount of potential coins, there would be zero interest from the general public. And a coin made only of miners/stakers is not a coin.

Right. That's why this is not called "interest rate". It's the Proof of Stake reward, and we use Proof of Stake version 3 from Blackcoin. And for that system, the block reward depends on the block height, and as the block time adjusts automatically, the global "inflation" is about 5% yearly, fairly distributed between those who have contributed to the consensus. Fiat may have different numbers, because fiat is not a Proof of Stake system! Navcoin has their own implementation of Proof of Stake, which works differently. These are simply different systems, there is no point in discussing the differences.

If you think the reward is too high, then thanks, your point was made, it will not change soon. Many people complained that it is too low for their staking to be profitable. Just different points of view.

[naftaman]

Hi guys, I´m getting this, my staking power should be much higher, I don ´t have any coins reserved for "not staking"

https://imgur.com/Mw4xeyl

You just received a stake today (based on the transactions in your wallet), so a portion of your coins will be in the process of re-maturing before they can stake again. Your stake weight will increase back to 'normal' once this happens. Everything is fine; this is the same as with most/all PoS coins.

Thank you. It is as you said

[naftaman]

I believe that 5% is fine, BUT.
I would suggest the inflation could be not fixed number, but variable.
For example it could be average of US, EU and other economics (no Zimbawve etc.) inflation, min. 1% max. 5%.