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.
(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.