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Author Topic: Best way to pay BTC "dividend" via Altcoin?  (Read 486 times)
ignitiondefect
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January 11, 2017, 09:28:40 PM
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Lets say that I want to pay out BTC to owners of an altcoin in proportion to their ownership percentage of the coin. Whats the best way to do that? For instance, GEMZ is a Counterparty asset (altcoin). Every GEMZ address is also a BTC address. Is there any easy way to distribute BTC automatically to all GEMZ owners in proportion to their ownership?
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ignitiondefect
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January 11, 2017, 09:40:13 PM
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I mean, is there a way to just send the BTC to one address and it automatically distributes to the holders of the altcoin in the correct proportion?
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January 12, 2017, 12:15:41 AM
 #3

Lets say that I want to pay out BTC to owners of an altcoin in proportion to their ownership percentage of the coin. Whats the best way to do that? For instance, GEMZ is a Counterparty asset (altcoin). Every GEMZ address is also a BTC address. Is there any easy way to distribute BTC automatically to all GEMZ owners in proportion to their ownership?

Why not pay the dividend out in terms of the altcoin itself?
Are you afraid that it might affect the supply and hence its price?


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ignitiondefect
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January 12, 2017, 04:03:23 AM
 #4

Lets say that I want to pay out BTC to owners of an altcoin in proportion to their ownership percentage of the coin. Whats the best way to do that? For instance, GEMZ is a Counterparty asset (altcoin). Every GEMZ address is also a BTC address. Is there any easy way to distribute BTC automatically to all GEMZ owners in proportion to their ownership?

Why not pay the dividend out in terms of the altcoin itself?
Are you afraid that it might affect the supply and hence its price?

What do you mean by "pay the dividend out in terms of the altcoin itself?"
Pursuer
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January 12, 2017, 08:06:14 AM
 #5

Lets say that I want to pay out BTC to owners of an altcoin in proportion to their ownership percentage of the coin. Whats the best way to do that? For instance, GEMZ is a Counterparty asset (altcoin). Every GEMZ address is also a BTC address. Is there any easy way to distribute BTC automatically to all GEMZ owners in proportion to their ownership?

Why not pay the dividend out in terms of the altcoin itself?
Are you afraid that it might affect the supply and hence its price?

What do you mean by "pay the dividend out in terms of the altcoin itself?"

it means if you want to pay someone who own X coin $1 in bitcoin then instead pay that some one $1 in X coin instead.

and one other suggestion, is that if that X coin has the same algorithm as bitcoin (for example if the same method is used for making private keys) it means someone with address 1XCoinAddress.... owns the same address on bitcoin network (same private keys) so you can pay that amount to the same address on bitcoin blockchain instead.

Ryan Dugan
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January 12, 2017, 09:33:07 PM
 #6

Lets say that I want to pay out BTC to owners of an altcoin in proportion to their ownership percentage of the coin. Whats the best way to do that? For instance, GEMZ is a Counterparty asset (altcoin). Every GEMZ address is also a BTC address. Is there any easy way to distribute BTC automatically to all GEMZ owners in proportion to their ownership?

You going to need a program/script then you give out the % of the total bitcoin to each member who owns GEMZ. So if you have 10% of the GEMZ then you get 10% of the total bitcoin or you can payout in the current btc value of GEMZ. Both, you would need some programming skills to do.

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ignitiondefect
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January 13, 2017, 08:40:53 PM
 #7

Lets say that I want to pay out BTC to owners of an altcoin in proportion to their ownership percentage of the coin. Whats the best way to do that? For instance, GEMZ is a Counterparty asset (altcoin). Every GEMZ address is also a BTC address. Is there any easy way to distribute BTC automatically to all GEMZ owners in proportion to their ownership?

You going to need a program/script then you give out the % of the total bitcoin to each member who owns GEMZ. So if you have 10% of the GEMZ then you get 10% of the total bitcoin or you can payout in the current btc value of GEMZ. Both, you would need some programming skills to do.

Yes, this is the answer I was looking for. Is it possible to incorporate this script into an altcoin itself. Lets say there's an altcoin where every altcoin address is also a Bitcoin address, as in the case with Counterparty tokens. But the altcoin has one master address. Any Bitcoin sent to that master address is then automatically distributed to the altcoin owners in proportion to their ownership.
Ryan Dugan
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January 17, 2017, 11:41:19 PM
 #8

Lets say that I want to pay out BTC to owners of an altcoin in proportion to their ownership percentage of the coin. Whats the best way to do that? For instance, GEMZ is a Counterparty asset (altcoin). Every GEMZ address is also a BTC address. Is there any easy way to distribute BTC automatically to all GEMZ owners in proportion to their ownership?

You going to need a program/script then you give out the % of the total bitcoin to each member who owns GEMZ. So if you have 10% of the GEMZ then you get 10% of the total bitcoin or you can payout in the current btc value of GEMZ. Both, you would need some programming skills to do.

Yes, this is the answer I was looking for. Is it possible to incorporate this script into an altcoin itself. Lets say there's an altcoin where every altcoin address is also a Bitcoin address, as in the case with Counterparty tokens. But the altcoin has one master address. Any Bitcoin sent to that master address is then automatically distributed to the altcoin owners in proportion to their ownership.

Well im glad I could help. I am no programmer but what you say is true and is possible. Have a look at clamcoin. Clamcoin gave out clams to each bitcoin wallet. Which is exactly what you looking for since clam was distributed by max clams / bitcoin wallets. Also clamcs were sent to each address like each bitcoin address had its own clam address linked to it.

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