BitLeuThis is the approved revision of this page, as well as being the most recent.
BitLeu (BTL) is an ASIC and MultiPool resistant coin that uses a unique combination of hashing and mixing functions known as Scrypt Jane.
"Leu" translates from Romanian to English as Lion, hence BitLeu means BitLion.
BitLeu is not just an electronic currency; it is a new and sustainable concept that intends to bring the value of the money back in the pockets of Romanian people, within the country and internationally. Thus, BitLeu is a new open source peer-to-peer cryptocurrency, owned by citizens and businesses of Romania and their friends worldwide. Everyone should be aware that the whole BitLeu concept is not designed with a pump-and-dump idea in mind. Low block rewards slowly increasing for the first year coupled with the increase of the N-factor will not allow huge farm owners to dump big amounts on exchanges, thus leaving the coin with a very little amount to trade. The creators of the coin aim to make the Bitleu sustainable, with a strong technical structure and applicable financial strategies to ensure good return to users. Therefore the Bitleu value will not decrease even after the "Delivery" (aka air-drop).
Phase 1 - Business adoption of BTL as method of paymentEdit
Starting with 15th of April 2014, it is planned to distribute an incentive of 50,000 BTL to any business that has successfully implemented BTL as a payment method, limited to the first 10 businesses. Launching Phase 1 at least couple months before Phase-II will strengthen BTL as a currency, making it geared more towards real world commerce, rather than speculative in nature. By the time BTL arrives in the hands of the consumers, there will already be many business projects accepting the BTL as means of payment.
Phase 2 - IndividualsEdit
Phase 2 is a Delivery of 100 BTL per Romanian citizen who is able to identify him/her to the satisfaction of the system, for up to 10,000,000 people (about 75% of Romanians that are above 18 years old). This action will be done through a secure online platform, with similar identification system as payment processors or banks are using today. Phase 2 will be divided into few stages, by the end of which unclaimed BTL will be made available to more people. This is of course the most important component for the launch of BTL, and this will be performed by the Foundation. BTL coins remaining after Phase 2 will go into the BitLeu Foundation's Fund.
Phase 3 - The BitLeu Fund: BTLBC / BTLIF / BTLRFEdit
BTLBC - BitLeu Business Credit
This BitLeu Fund will be responsible for the BitLeu Delivery to the Companies that have a sustainable business plan, powered by BTL. It will take care about the BTL Fund for economic development of the BTL market, by using BTL.
BTLIF - BitLeu Investment Fund
This fund will invest in Romanian startups, and also will donate to charity and support projects that promote BTL. The authors work with a lawyer to open their own Registry of Commerce and all startup businesses powered by BitLeu Investment Fund and BitLeu Business Credit will be recorded in this registry.
BTLRF - BitLeu Retirement Fund
All Romanians and their worldwide friends will be able soon to make savvy financial investments that respect and improve the environment. This truly makes sense and it is a low risk, extremely profitable venture. It cleans air and water, and creates homes for many forest animals. Everyone wins, including all the grandchildren yet to be born. Invest your BTL cryptocurrency in a legal environmentally friendly venture.