From: Jeff Garzik <jgarzik@bitpay•com>
To: Odinn Cyberguerrilla <odinn.cyberguerrilla@riseup•net>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>,
Stephane Brossier <stephane@kill-bill•org>,
Pierre-Alexandre Meyer <pierre@kill-bill•org>
Subject: Re: [Bitcoin-development] Extension for BIP-0070 to support recurring payments
Date: Tue, 28 Jan 2014 01:48:42 -0500 [thread overview]
Message-ID: <CAJHLa0P9cXWb-dOGL-A-iNTkELz3fO-woihiprD5NiUi_V74Yw@mail.gmail.com> (raw)
In-Reply-To: <ffaba6419d12b997feb1f421538d3b0b.squirrel@fulvetta.riseup.net>
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Let's keep fund raising off this mailing list, please. PS bounties don't
work.
On Tue, Jan 28, 2014 at 1:08 AM, Odinn Cyberguerrilla <
odinn.cyberguerrilla@riseup•net> wrote:
> 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/
> >
> ------------------------------------------------------------------------------
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> http://pubads.g.doubleclick.net/gampad/clk?id=123612991&iu=/4140/ostg.clktrk_______________________________________________
> > Bitcoin-development mailing list
> > Bitcoin-development@lists•sourceforge.net
> > https://lists.sourceforge.net/lists/listinfo/bitcoin-development
> >
>
>
>
--
Jeff Garzik
Bitcoin core developer and open source evangelist
BitPay, Inc. https://bitpay.com/
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next prev parent reply other threads:[~2014-01-28 6:48 UTC|newest]
Thread overview: 25+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-01-28 2:36 Stephane Brossier
2014-01-28 3:58 ` Kevin Greene
2014-01-28 4:29 ` Jeff Garzik
2014-01-28 4:43 ` Jeff Garzik
2014-01-28 5:07 ` PikaPay
2014-01-28 6:08 ` Odinn Cyberguerrilla
2014-01-28 6:48 ` Jeff Garzik [this message]
2014-01-28 6:34 ` Mike Hearn
2014-01-29 2:47 ` Stephane Brossier
2014-01-31 18:13 ` Mike Hearn
2014-02-08 2:57 ` Stephane Brossier
2014-02-09 2:48 ` Stephane Brossier
2014-02-11 10:00 ` Kevin Greene
2014-02-11 18:01 ` Stephane Brossier
2014-02-12 6:32 ` Kevin Greene
2014-02-12 6:37 ` Kevin Greene
2014-02-14 20:28 ` Stephane Brossier
2014-02-24 18:04 ` Stephane Brossier
2014-02-25 16:29 ` Mike Hearn
2014-02-25 18:40 ` Drak
2014-02-25 19:03 ` Jeremy Spilman
2014-02-25 19:06 ` Christophe Biocca
2014-02-26 3:53 ` Stephane Brossier
2014-02-26 10:30 ` Mike Hearn
2014-02-11 16:24 ` Mike Hearn
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