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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/
> >
> ------------------------------------------------------------------------------
> > WatchGuard Dimension instantly turns raw network data into actionable
> > security intelligence. It gives you real-time visual feedback on key
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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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  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 [Bitcoin-development] Extension for BIP-0070 to support recurring payments 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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