Author: Jeff Garzik 2014-01-28 04:43:58
Published on: 2014-01-28T04:43:58+00:00
Recurring payments and subscriptions are a highly requested feature in Bitcoin that requires a new BIP. The remote merchant initiates a persistent behavior, but the user controls the payments through a "push" model. Centralized services will have an easy time implementing recurring payments with automated programs or multisig transactions. However, decentralized wallet clients may have issues if the app is not running, resulting in missed payments. Users can cancel these solutions at any time with a courtesy message sent to the merchant. Textual reminders might be preferred over actual recurring payment automation to ensure human thought and review in the process. Jeff Garzik, a Bitcoin core developer and open-source evangelist from BitPay, emphasizes that users should always control the usage of their money.
Updated on: 2023-06-08T01:58:10.749960+00:00