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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/
> ------------------------------------------------------------------------------
> WatchGuard Dimension instantly turns raw network data into actionable
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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
>





  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 [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 [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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