Dispensers

A dispenser is an automated selling mechanism within Counterparty. It works similarly to a vending machine: the seller deposits a quantity of an asset and sets a price in satoshis (the smallest unit of Bitcoin). Anyone who sends the exact amount of BTC to the dispenser's address automatically receives the corresponding tokens.

How Does It Work?

1. The seller creates the dispenser: they choose the asset to sell, the quantity per transaction, the price in satoshis, and the total amount to make available.
2. The dispenser becomes active: it appears on the blockchain waiting for buyers.
3. The buyer sends BTC: by sending the exact amount of satoshis to the dispenser's address, the transaction is processed automatically.
4. The asset is transferred: tokens are sent to the buyer without any intervention from the seller. Everything happens on the Bitcoin blockchain.

Practical Example

An artist creates a digital collectible called MYART and puts 50 units up for sale in a dispenser at a price of 50,000 satoshis (≈ 0.0005 BTC) each. Anyone who sends 50,000 satoshis to the dispenser's address automatically receives 1 unit of MYART.

Advantages of Dispensers

• No intermediaries: buying and selling happens directly on Bitcoin, with no need for a centralized platform to custody funds.
• Automated: once created, the dispenser operates on its own until it runs out or the seller closes it.
• Transparent: anyone can verify the dispenser's conditions (price, available quantity, sales history) directly on the blockchain.
• No registration required: there is no need to create an account or complete a verification process to buy through a dispenser.