From: "Odinn Cyberguerrilla" <odinn.cyberguerrilla@riseup•net>
To: "Jeff Garzik" <jgarzik@bitpay•com>
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: Mon, 27 Jan 2014 22:08:43 -0800 [thread overview]
Message-ID: <ffaba6419d12b997feb1f421538d3b0b.squirrel@fulvetta.riseup.net> (raw)
In-Reply-To: <CAJHLa0NvufgU6NUKWR6a_foibtEVGSmpMjTB2_pqFhqrEGMssw@mail.gmail.com>
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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>
next prev parent reply other threads:[~2014-01-28 6:08 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 [this message]
2014-01-28 6:48 ` Jeff Garzik
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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