Send bitcoin to owners

[dexX7]

A Master Core client has everything to "send bitcoins to owners" with the RPC call getallbalancesforid_MP to grap all balances of a property and sendmany, createrawtransaction or the UI to send bitcoin.

Nevertheless it would be useful, if there were a "send bitcoin to owners" function to skip the step of manually sending the coins.

This is mainly a topic for Master Core, but actually, it could as well be specified here, and on top, when sending a transaction which transfers bitcoin to owners, the transaction could carry a data package to "flag" such a transaction explicitly, so that transaction explorers can identify transactions of this kind more easily.

[dacoinminster]

Interesting idea. Might be useful. Seems low priority for now, unless a project asks for it . . .

On Sun, Dec 28, 2014 at 1:52 PM, dexX7 notifications@github.com wrote:

A Master Core client has everything to "send bitcoins to owners" with the RPC call getallbalancesforid_MP to grap all balances of a property and sendmany, createrawtransaction or the UI to send bitcoin.

Nevertheless it would be useful, if there were a "send bitcoin to owners" function to skip the step of manually sending the coins.

This is mainly a topic for Master Core, but actually, it could as well be specified here, and on top, when sending a transaction which transfers bitcoin to owners, the transaction could carry a data package to "flag" such a transaction explicitly, so that transaction explorers can identify transactions of this kind more easily.

— Reply to this email directly or view it on GitHub https://github.com/mastercoin-MSC/spec/issues/298.

[Bitoy]

This is useful for companies issuing "dividends". Companies can issued fixed tokens (shares). And the btc dividends can be distributed proportionally to those that the hold company tokens,

[dacoinminster]

Well, they can already do BTC dividends manually, so nobody is waiting for us to implement this - a change like this would simply allow our wallets to track those payments.

On Fri, Jan 2, 2015 at 12:18 AM, Bitoy notifications@github.com wrote:

This is useful for companies issuing "dividends". Companies can issued fixed tokens (shares). And the btc dividends can be distributed proportionally to those that the hold company tokens,

— Reply to this email directly or view it on GitHub https://github.com/mastercoin-MSC/spec/issues/298#issuecomment-68513237.

[dexX7]

It really comes down to the question how much utility should be provided. As you mentioned, it is no problem to get a list of balances/holders and to send some coins manually without a specific function for this task, nor some special (Master) transaction to track such transactions.

I initially started this thread, because it's one of those (marketing) points sometimes mentioned: "x can/can't do BTC dividends!" -- well, and because it would indeed be handy. ;)

[zathras-crypto]

I mentioned on the other thread

Just clarifying here - a bitcoin STO has absolutely nothing to do with the MP and is not issued via the MP. Sure you may use MP balances to determine to whom and how much BTC you are going to send, but there is no protocol packet to parse, just a bitcoin transaction with a bunch of outputs. As such, the Q stands as should this be a Omni Protocol function? I actually think it will be useful for integrators, but agree on prioritization - if no-one is asking for it yet, let's put it on the backburner.

Reflecting on my earlier comments, these BTC functions (Bitcoin STO, Bitcoin Crowdsales etc) I do believe are significant product enhancements. The most commonly used example is that of a mining company (Quantum Miners) - if we actually follow that example through then the most likely scenario is the mining farm owner wanting to split N BTC of profits between people with shares in the farm (an effective Bitcoin STO).

Fully agree that this can be done manually, but we have the math already in the codebase so at some point in the future I think it would be a nice addition :)

Thanks Z