Chapter 7: Distribute BTC

This is probably the most powerful enchantment I can offer you at this time, but beware, it is also the most dangerous one because this will send bitcoins to addresses that might not be under your control. If you make a mistake in the configuration you could lose a lot of money!

It allows you to create an enchanted address that will automatically distribute all the bitcoins sent to it according to a set of preconfigured parameters. The possibilities are endless: giving dividends to investors, automatically splitting bitcoin over multiple addresses and many more use cases that I haven’t thought about yet.

This enchantment is similar to the previous one, you can give a distributer a name, a description for the purpose along with an optional youtube video. The option to keep the distributer private or make it public is also available. As well as setting an optional percentage based distribution fee.

But is different in a few aspects:

There are a few different ways to determine how the money is distributed. It can be a dynamic distribution according to a SIL or one of the other Linked Lists or a fixed custom distribution.

You must specify a threshold value to trigger the enchantment, make sure it is high enough so it doesn’t try to distribute too small amounts.

Once every 10 minutes, it will check to see if there are any unspent transaction outputs with at least 3 confirmations. If the total amount is higher than the threshold value, the entire amount will be distributed proportionally.

2 extreme situations need to be considered: when the amount to distribute is very low and/or when the number of outputs is very high. In these situations it is possible that the smallest outputs are lower than the specified minimum output amount. When this occurs, those addresses will be excluded for the distribution.

Also there is a hard limit of 2000 outputs, if there are more than that, only the ones with the highest proportional share will be included.


demo Distributer

A description for the demo distributer, do not send bitcoins to this address.

Distribution threshold: 0.001 BTC

Minimum output value: 0.0001 BTC

1HevfuAFWfftwnDPJyUyngTQuTuzzp2iMw

Distribution source: SIL

Created by Wouter Glorieux on 2016-04-23 13:36


House Stark

Bannermen, It is time to pay your taxes! Send your bitcoins to this address so they can automatically be distributed amongst the members of house Stark! Robb Stark, King in the north

Distribution threshold: 0.01 BTC

Minimum output value: 0.0005 BTC

1Q7sLmuPzJx555dgjWPRxvGHoqYZikLP7x

Distribution source: SIL

Created by Wouter Glorieux on 2016-04-22 20:46