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Is there a standard for recurring cryptocurrency payments? (self.cryptocurrency)

submitted 1 year ago by Kalcifer to c/[email protected]

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cross-posted from: https://lemmy.world/post/2264480

From my experience, it seems that any service that offers cryptocurrency payments seems to always set them up as a one time purchase that you manually must renew periodically. Is there any standard that exists, or is in the works that supports recurring payments to a service directly from a wallet?

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[–] Kalcifer 1 points 1 year ago (1 children)

So, you need a program that runs on a schedule that signs transactions for you.

This is exactly what I am referring to. Perhaps it wasn't clear in my post, but I wasn't talking about the vendor taking money from my wallet, but the service is set up such that it expects a payment on a regular basis, and your wallet just makes automatic payments for you on a sort of timer.

[–] [email protected] -1 points 1 year ago

Yeah well, that's not that hard, if you've got a computer that's running 24/7 and has access to a node, a CLI wallet that can sign transactions for you. I'm sure there's some bots like this out there on github or something if you search for them. The real trouble there is, most vendors have very specific requirements to know who made the payment, like including an invoice number in tx_extra, or a side channel message with a tx number in it, stuff like that, a one size fits all not might not work.