📅 Original date posted:2014-01-28
📝 Original message:Greatly appreciate seeing this discussion occur. This is something that
potentially could be supported through a bounty - possibly a process BIP?
Possibly related: https://gist.github.com/ABISprotocol/8515891
> Yes, recurring payments and subscriptions is a frequently-requested
> feature. It needs a new BIP. Here is an outline:
>
> The situation is somewhat analogous to HTML5 local storage. The remote
> (merchant) wants to initiate a persistent behavior. This is bitcoin, so
> we
> have a "push" model for payment, and the user has complete control. The
> merchant can, at most, send a "subscription request." The user is
> responsible for making on-time payments after that point.
>
> Centralized services like coinbase.com or blockchain.info will have an
> easy
> time of it. An automated program on their backend, sending payments as
> needed, is easy and direct.
>
> More inventive services might employ multisig transactions, generating and
> signing one signature of a TX, then sending that TX to the human for
> further signing and publishing. A few competing vendors could offer bots
> that provide this signing service.
>
> Decentralized, standalone wallet clients will be somewhat troublesome. We
> can store a local subscription request, and send recurring payments... if
> the wallet app is running. If not, the user will be missing payments,
> that
> perhaps they intended to make (rent!).
>
> Each of these solutions can be cancelled at any time by the user. As
> such,
> a courtesy "subscription cancelled" message sent to the merchant is
> recommended. User controls the usage of their money at all times, the way
> things should be.
>
> And finally, you do not want to make it /too easy/ to send money over and
> over again. From a human-interface perspective, a textual reminder to
> send
> money might be preferred over actual recurring payment automation:
> reminder
> email + manual spend inserts a bit of additional human thought and review
> into the process, with all that entails.
>
> --
> Jeff Garzik
> Bitcoin core developer and open source evangelist
> BitPay, Inc. https://bitpay.com/
> ------------------------------------------------------------------------------
> WatchGuard Dimension instantly turns raw network data into actionable
> security intelligence. It gives you real-time visual feedback on key
> security issues and trends. Skip the complicated setup - simply import
> a virtual appliance and go from zero to informed in seconds.
> http://pubads.g.doubleclick.net/gampad/clk?id=123612991&iu=/4140/ostg.clktrk_______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>
Odinn Cyberguerrilla [ARCHIVE] /
npub18x…hg6zk
2023-06-07 15:12:46
in reply to nevent1q…zqcs
Author Public Key
npub18xqykhf26udeq2nyk98ee0a5q4w3s2f75m405a6zswpdy573lxeqmhg6zkPublished at
2023-06-07 15:12:46Event JSON
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"content": "📅 Original date posted:2014-01-28\n📝 Original message:Greatly appreciate seeing this discussion occur. This is something that\npotentially could be supported through a bounty - possibly a process BIP?\n\nPossibly related: https://gist.github.com/ABISprotocol/8515891\n\n\u003e Yes, recurring payments and subscriptions is a frequently-requested\n\u003e feature. It needs a new BIP. Here is an outline:\n\u003e\n\u003e The situation is somewhat analogous to HTML5 local storage. The remote\n\u003e (merchant) wants to initiate a persistent behavior. This is bitcoin, so\n\u003e we\n\u003e have a \"push\" model for payment, and the user has complete control. The\n\u003e merchant can, at most, send a \"subscription request.\" The user is\n\u003e responsible for making on-time payments after that point.\n\u003e\n\u003e Centralized services like coinbase.com or blockchain.info will have an\n\u003e easy\n\u003e time of it. An automated program on their backend, sending payments as\n\u003e needed, is easy and direct.\n\u003e\n\u003e More inventive services might employ multisig transactions, generating and\n\u003e signing one signature of a TX, then sending that TX to the human for\n\u003e further signing and publishing. A few competing vendors could offer bots\n\u003e that provide this signing service.\n\u003e\n\u003e Decentralized, standalone wallet clients will be somewhat troublesome. We\n\u003e can store a local subscription request, and send recurring payments... if\n\u003e the wallet app is running. If not, the user will be missing payments,\n\u003e that\n\u003e perhaps they intended to make (rent!).\n\u003e\n\u003e Each of these solutions can be cancelled at any time by the user. As\n\u003e such,\n\u003e a courtesy \"subscription cancelled\" message sent to the merchant is\n\u003e recommended. User controls the usage of their money at all times, the way\n\u003e things should be.\n\u003e\n\u003e And finally, you do not want to make it /too easy/ to send money over and\n\u003e over again. From a human-interface perspective, a textual reminder to\n\u003e send\n\u003e money might be preferred over actual recurring payment automation:\n\u003e reminder\n\u003e email + manual spend inserts a bit of additional human thought and review\n\u003e into the process, with all that entails.\n\u003e\n\u003e --\n\u003e Jeff Garzik\n\u003e Bitcoin core developer and open source evangelist\n\u003e BitPay, Inc. https://bitpay.com/\n\u003e ------------------------------------------------------------------------------\n\u003e WatchGuard Dimension instantly turns raw network data into actionable\n\u003e security intelligence. It gives you real-time visual feedback on key\n\u003e security issues and trends. Skip the complicated setup - simply import\n\u003e a virtual appliance and go from zero to informed in seconds.\n\u003e http://pubads.g.doubleclick.net/gampad/clk?id=123612991\u0026iu=/4140/ostg.clktrk_______________________________________________\n\u003e Bitcoin-development mailing list\n\u003e Bitcoin-development at lists.sourceforge.net\n\u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\u003e",
"sig": "779007a42ca0db6b592efad655d5fef7380f8266c8dee7a7e57dfb62e5ac8509bbf300848548778ecf104f06618790f21ea1ac890785d45efe0cb7b97d168790"
}