5

I am contemplating designing some minor sites that uses bitcoins, but as far as I can see, a manual action is needed for every payment.

Is it possible to set up a "subscription" system or repeating transactions?

If not, I am planning to design a system where you can replenish your subscription, by simply "filling up" your account and then over time the allocated coins will be depleted.

5
+100

Repeated transactions using Bitcoins is impossible, unless you have access to the private key. This requires a specific client. Such functionality is not yet available, as most people encrypt their wallets (the client can't decode it without the user. The second approach would be preferable.

  • That second approach could also be an external service, does not need to be tied to your site. Bitcoin wallet services could offer subscriptions just like PayPal does. – Thilo Jan 10 '12 at 2:31
0

I have been buying subscription based services using Bitcoin payments delivered by BitPay.

You get a monthly invoice in email which you need to pay or the service stops working. One could automatize the processing of this invoice quite easily - after all Bitcoin is money with API (just pick up address, sum, automatize the send from your wallet). In this case, it would be the end user still in control what Bitcoin emphasis a lot.

The alternative, a prefilled wallet where you share the private keys and you can transfer Bitcoins back to yourself on any moment does not sound bad either.

  • 1
    "The alternative, a prefilled wallet where you share the private keys and you can transfer Bitcoins back to yourself on any moment does not sound bad either.". What do you mean? You cannot charge it back after the transaction has made it to the main chain. – Jori Apr 7 '14 at 17:16

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.