Bitcoiners are joining mastodon en masse, hope you're ready for the influx @Gargron
@bitcoinshirt @MrHodl @NicolasDorier Thanks a lot for your answers, this avoided me going "down the rabbit hole" of trying to make it work :)
I have a basic understanding of crypto and think recurring payments would be a killer application but the only way I can think of making it work would be to use multisig with recurring dates (not sure if that is even possible) or ethereum contracts to allow one sig to take out money at specific dates unless cancelled. It's an idea
@MrHodl @bitcoinshirt @NicolasDorier Manual repayments are a pain for everyone. They are a lot harder to manage to the person that receives and annoying to do every repayment for the user.
Then people forget, do it later, service gets interrupted because of no payment, I believe it would end up as a big mess (emails back and forward).
From my experience MOST people hate anything that gives them the slightest bit or work, at least I do :P
@NicolasDorier @MrHodl @bitcoinshirt well that sounds really useful.
Is there any chance that you could make this endless and the user keeps funding if it wants to continue or does it have a set number of payments/time that needs to be set upfront. Plus the user need to have the full amount for all the months subscribed upfront, right?
You withdraw automatically 0.1 every month from his account. If at the 6 months he wants to stop, he can withdraw the remaining 0.4 BTC.
But if he wants to continue for at least one year, he would deposit 0.8 BTC.
You may scam him and take his money, but this is strictly an improvement over card as he can control the max amount to afford to loose
Well, hotwallet if you want to be completely hand free. But what you can do instead is batch all the withdraw requests for the day/week, then ask the admin to insert his Ledger Nano S to do all the withdraw at once (or use PSBT, BIP 174 when more supported)
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