Bitcredit Protocol is a free, open source community project.
We are Bitcoin maximalists in the original sense and follow Austrian Economics principles.
Anybody was and is welcome to join and contribute.
The 10 Rules of Bitcredit Protocol
(which Wildcat mints must adhere to):
1. Proof-of-work: Only commercial e-bills for goods already produced, invoiced to other businesses, qualify for minting of Bitcoin credits (MoE).
2. Verifiable terms: E-bill maturity must match expected reflux from buyers, and no more than 12 months.
3. Verifiable prices: Invoice prices must be plausible.
4. Bitcoin rails: Payment is in Bitcoin, irrespective of e-bill denomination.
5. Verifiable redemption: Upon maturity, e-bills must be verifiably paid via Bitcoin mainchain or Lightning Network.
6. Non-custodial: Not your keys? Not your coins, nor your credits.
7. Privacy by default: Fungibility of credits through bearer instruments and censorship resistance.
8. Decentralisation: Wildcat mints in the Bitcredit Network compete independently under peer supervision.
9. Game theory: A clowder majority can eliminate rabid wildcats through punishment transactions.
10. Future money: No contractual convertibility before maturity.
Bitcredit Protocol will stabilise Bitcoin.
It will be a real "stable" coin,
not a fiat fake "stablecoin".
Without an issuer,
without a central bank,
without volatility,
without debasement,
without censorship,
without interest.
Just free market mechanism.
Sorry everyone, we having some technical problem with Twitter Spaces.
They keep breaking up.
We will announce a better format for our next call, likely on Jitsi.
