Topic: [ANN]Spectrecoin[XSPEC] TOR+OBFS4, Ring Sig, Stealth! - page 40. (Read 94880 times)

C'mon, you're a legendary member.  

• https://en.bitcoin.it/wiki/Data_directory
• https://altcoinwiki.org/en/SpectreCoin#Data_directory

Rename the Spectrecoin data directory, create a new one, and copy over your wallet.dat. Then start the wallet, so it will sync from scratch. If it is stuck, then probably your blockchain data got messed up.

I have make a new "Data" Directory inside the Spectrecoin Directory - but it doesn't help :-/

Could you please provide a technical whitepaper for the Stealth Staking? Sounds really juicy, but I can not image how this should work?!?

Try making a new data directory.

Yes. I think a windows release is still outstanding, but 1.3.6 is safe to use.

Problem not solved. Any other fix for that? I don´t have disqord.

I saw the v.1.3.6 of XSPEC wallet on the GitHub. Is it legit?

Of course it is just about different points of view.

What I want to say is I think a low inflation in the long term is more beneficial to everyone, including both stakers and non-stakers because it creates more demand from investors that results in a higher price.

If the staking reward is too high, a lot of people will be put off by the high inflation.

Take Monero for example, which has a tail emission that results in a perpetual inflation starting with 0.87% and dropping a little every year.
Even Bitcoin's current inflation is below 5% and will just go down from here.

While Monero and Bitcoin miners receive less coins for their work as compared to a higher emission rate, the value of their rewards is higher because the coins are worth more. One of the reasons the coins are worth more is because inflation is low.

Coins with double digit inflation are considered shitcoins for a reason, because it is a bad investment in the long term to simply hold such coins in a cold wallet.

Back to XSPEC's example, you said many people complained that the rewards are too low. Just consider the following example:
Case 1: 1000 coins being staked for one year at 15% reward = 150 new coins. If the coin is valued at $2 the staker earns $300.
Case 2: 1000 coins being staked for one year at 5% reward = 50 new coins. If the coin is valued at $10 the staker earns $500

In the above example, it is clearly shown that a lower reward in number of coins can have a higher value if the coin appreciates in value. In the second case, both stakers and cold storage holders are much better off than in the first case.

The question is, is there any direct correlation between inflation rate and coin value? I'd say it is a very big correlation, and a lower inflation rate can easily be offset by value appreciation resulting from higher demand for low-inflation coins.

Anyway, I don't say that 5% coin supply inflation is extremely high or a big problem, but I believe a lower inflation rate would serve the coin better in the long term, and everyone would be better off, from stakers to non-stakers.

Great project! I have seen this on several youtube channels that shared about this project. Very promising and much needed

Just think of the "extra" if/when they happen...as an "airdrop"  

Can we move on from this staking business?

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%.

Thank you. It is as you said

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.

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.

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.

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.

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

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..

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

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.