Topic: [XSPEC] Spectrecoin | Untraceable Tx | Ring Signatures | Tor Integration - page 72. (Read 115722 times)

When are you setting a goal?

There is no promotional bounty for the community?How much raised in first 48 hours?
thank you in advance.

If you haven't assigned to translate your ANN thread to Filipino translation for the local board, let me know. I shall update the thread every now and then for the users to learn more about SPEC. I'm a fan of SDC.  

its really good news . but i confused is

ad we know --SDC -->with  Ring Signatures for anonymous transactions , do your team wanna add ‘Zero Knowledge’ proofs to your project . ?  if so , its amazing.

plis chek slack

https://spectreproject.slack.com/messages/@spectreproject/

I can confirm more than 3.5 BTC has been received in the first 2 days.

The ICO is not really for the cryptocurrency but to develop the mobile platform that goes with it. It may not have been made clear, we will have a white paper and hopefully an alpha version of the mobile platform out very soon. The mobile platform is a kind of mix between Uber and Localbitcoins that is aimed at the small remittance market in Africa and Asia where increasing control and regulation makes it difficult for non-mainstream money transfer to operate. What we propose is something that hasn't been done before, a free app that will faciliate cash transfer and use an anonymous currency for balance settlement.

That is what the ICO is for. Spectrecoin has already been made and we are now working to complete the Tor integration. It will become clear soon. I will update the OP but it's all in the FAQ.

The ICO is to develop the mobile app and that will drive the value and we are not following SDC as such and will not implement a market. The app we are building though could be used as a payment terminal as well and a few other things.

I do see that maybe it's early stages but we will have something to shown soon and in time.

The fact that this project is legal since it clones an open source code doesn't make it legit.

Just cloning a project people are working on for a long time and modifying several parameters doesn't justify an ICO.

You already get a lot of money by taking other community hard work so at least dedicate from your own time and create a basic working version of what you want and let the community decides if it wants to invest in improvements or not.


Just taking open source code with minor refactoring and ask for Bitcoins from us for development is a real shame and I promise you I have nothing personal here, I invested in several ICOs lately and I do not own any SDC, I am just writing my opinion on asking for money at such an early stage when you did almost nothing on your own.

That's a nice score. But how do we know it's true or not?

Total BTC raised: 4.21375889 BTC from 26 ICO participant
Good luck dev

Its christmas time. Everyone wants some quick money but I dont think this dev will get any of it.

lol, windows client with 20 Qt libraries? I wonder if the dev know how to build the wallet client? and when I try the window client it crashed. While I see some re-org of the menu etc, I don't really see much new there. When the coin claims support of "zero knowledge proof" which protocol it uses? zerocoin or zerocash? or just the buzz words? With min new stuff and doing ICO, lmao, I guess the dev wants some quick money?!

This one sounds like a long shot to me. Will there be a working beta before the ico is over?

put an updated btc invested amount on the op please.

We have just released a slightly updated version of the Spectrecoin wallet in preparation of starting the blockchain and starting to pay out the 1 SPEC 'proof-of-investment'

Download Windows Qt v1.0.0.1b

I will change that, it was meant to be size 18 but I will fix it

The best thing to do is to read the intro on the blog:

https://blog.spectreproject.io/

ED: updated the OP with text instead of graphics.

So first off the text in the ANN picture (why do you even put TEXT in a PICTURE??) is completely unreadable! What is that, font size 3?!

So could you maybe explain to me first, what is the idea of this project? And how does it work?

I know that some people have some concerns about what we are doing. I'm inviting everyone to Slack

https://slack.spectreproject.io/

To come and talk to us. We will answer any questions.

This scam accusation is pure lies, there is an army of freshly created newbie accounts that is working hard for us to fail. These are just lies and it's difficult to deal with. Please read the following:
https://bitcointalksearch.org/topic/m.17085517

Where is Spectrecoin cloned from?
•   The code base for Spectrecoin is derived from the code base from Shadowcash [SDC] (https://shadowproject.io/en) and the code base has been modified with the parameters we feel are right for what we want to achieve. This is mainly the staking reward scheme and the block time. There will also be further functions added and further modifications to this base to integrate with The Spectreproject’s other parts.

Why clone from Shadowcash and not any other cryptocurrency?
•   We believe that Shadowcash has very strong privacy and extremely resilient anonymity features such as confidential transactions using ring signatures and also stealth addresses and is one of the top cryptocurrencies today. Privacy and anonymity is crucial for what we are aiming to achieve. In addition, Shadowcash has an HTML based wallet that will allow new features such as web-apps or advanced functions to be integrated.

Is it legal to copy Shadowcash and call it Spectrecoin?
•   Shadowcash is published under “The MIT License (MIT)” under the Open Source Initiative (https://opensource.org/licenses/MIT) that state: “Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.”

•   The Spectreproject and Spectrecoin is complying with the conditions set out in the MIT licence and Shadowcash is referenced in the code (https://github.com/spectrecoin/spectre) where it is needed and also in the splash screen for the Spectrecoin wallet and also the ‘About’ section from within the wallet.

Why not use Shadowcash then for your project?
•   Well, although Shadowcash is a brilliant cryptocurrency we want the freedom to change the code to facilitate the functions that we have in mind for Spectrecoin. It appears that Shadowcash is aiming to integrate a market function and to develop the currency with this in mind. We want to use Spectrecoin as an exclusive currency for a small remittance app and so we are aiming towards cash transfer as a main focus and not a market currency as such. Having the freedom to alter the code allows us to build an infrastructure and to integrate Spectrecoin in this.

So you are just trying to cash in on Shadowcash’s success?
•   No, not at all. The overriding focus for The Spectreproject is to deliver a mobile platform for uncensored, unmonitored and anonymous cash transfer. Spectrecoin is an integral part of this and the currency is not created for its own sake but to serve as a settlement medium in the small remittance transactions. By having our own code base, we can tweak this any way we want to make it work. The development team (4 members at present) will share 4/5 of 5% of the Spectrecoin supply as a stake in the project to ensure future participation. That means that each team member will hold a stake of 100,000 SPEC at the end of the ICO and 100,000 SPEC will be available for certain bounties and incentives geared towards PR. 19 million SPEC will be offered to you if you want to hold a stake.

Why do you need an ICO?
•   The small remittance app that will run on Spectrecoin will undergo an initial development until it can be released as an open source project and added to the app store for Android for a start. We envisage this app to be “released into the wild” as it were and we are not planning any revenue stream from this endeavour. We are hoping that as the app reaches the public it will certainly be controversial in some territories and that it will stoke up enough interest to gain a momentum of its own and entice developers to work on the code and keep it alive. We will also work on the app but will not ‘own’ it and not incorporate it and not directly benefit from it. This is because it would almost certainly require us to have a licence and this would be likely to fail. All we wish to do is to build this app that will enable people to transfer cash anywhere anonymously just like the Hawala system today. The team has one member working on the app right now and a ‘pre’-alpha version will be out for demo soon. To be able to bring this to life the way we intent it, we need to hire further developers and we need some solid PR once the app is out to make people aware that this product exists. So, the bulk of the ICO funds will go to hiring people to work on the app and to run a proper and sustained PR campaign once it’s all done. Some of the ICO funds will cover initial expenses and the running of servers and the like. This is a small fraction. It is not possible to fully develop this without any funding and so we seek to crowdfund this project and offer you a stake.

How do we know that you are serious about this?
•   Most ICOs make promises of some future network and functions that are not yet in existence and some are clearly more serious than others in this respect but a common feature is that you will not be able to use the finished product until sometime after the ICO ends. We have taken the unusual step now to release fully functioning wallets for you download. You will need to download the wallet anyway to take part in the ICO (https://blog.spectreproject.io/) and to generate a receiving SPEC address. We will start the network and the nodes and you will be able to sync your wallet and check the block-explorer. In addition, to show you that the network is viable we will deposit 1 SPEC to your receiving address as a ‘token’ payment to prove that we have received your investment. At the end of the ICO we will distribute the rest of the funds. The blockchain will be driven by zero value proof-of-work blocks whilst the ICO is running. In this way, you can see that we are serious and that we have a product ready at the very start. In addition, the ‘pre’-alpha app will also be out as demo with a white paper. As we are preparing to issue 1 SPEC as a ‘token’ proof of investment we will now set a minimum limit of investment to 0.01 BTC.

I don’t need an app like that, so why should I invest?
•   You are investing in Spectrecoin which will be the only currency to be used for the remittance app and as such you would expect value appreciation from a gradual increase in demand for Spectrecoin as a result of the increased use of the app. We will promote the app to areas where mobile use is high and the demand for cash transfer is high and where people are mostly unbanked. You do not need to download the app or use it or even have any interest in it as such. You should know however that this market is in need of anonymous ways to transfer cash as the governments are increasingly trying to regulate the traditional Hawala participants. This pegs Spectrecoin to real use by real people. Spectrecoin is of course also a fully-fledged anonymous cryptocurrency in its own right and can be used on the internet as any other cryptocurrency. We believe that this app is one of the first real-world usage of anonymous cryptocurrency and it will certainly be controversial when its done.

Why did you open a new thread?
•   When we announced the project, we were a bit naïve maybe as we have never attempted an ICO before. We also made a silly mistake in the code by overlooking or omitting the mention of Shadowcash in places. This drew some angry trolls to make some outrages allegations and effectively block the thread. This was not intentional on our part but maybe naïve as I said. In respect of this I have gone through the code and made sure that Shadowcash is credited where needed. We will welcome any sensible discussion of course but there is no point in making any allegations or just mindless trolling. So, in the interest of transparency:
•   (1) Yes, this is clone of Shadowcash which is open source.
•   (2) Yes, we did make mistakes in the first thread and release but we acknowledge that and seek to rectify the mistakes.
•   (3) Yes, we are using the same wallet layout as Shadowcash with a Spectrecoin logo and colour scheme as is common place in the cryptocurrency space.
•   (4) No, we will not include a marketplace and the marketplace tab will be taken out in the next version of Spectrecoin. We are rather in favour of a system like OpenBazaar or other P2P market places.
•   (5) No, we will not follow Shadowcash and their development as such but will diverge and focus on our own project.

Thank you for your support!