We already have Monero for "anonymous currency with ring signatures". Isn't this a little redundant? Or is there a significant difference between the two coins that I'm not seeing here.
I think competition is great and it might keep devs on their toes and feet and try to make things better. Isn't your statement a bit like saying, "oh, we have BMW so we don't need Mercedes". Why should consumers settle for one brand when someone else might improve on the the concept. Free market and competition is healthy, so go SPEC and prove them wrong...
You're right. I think I'd just prefer that there's one of every idea or innovation so it makes it easier for me to know what ICO's/projects are worth keeping my eye on, but no, there's nothing wrong with competition. It sounds like a good project from what I'm reading here. I'm still a huge Monero enthusiast and if I happen to hear about Spectrecoin on the news a couple years from now, I'll be really surprised. xD