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Author Topic: Automatic payments with bitcoin?  (Read 2937 times)
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May 04, 2012, 09:41:42 PM

Hi everyone I've set up my bitcoin wallet and everything, but I'm wondering why there seems no way to send an automatic payment through the wallet. Example: 1 BTC to 16exchJU1UCJcSkNEyBxzZfbZpA4189Bmt per month.

Why is this not implemented in the standard bitcoin wallet? I was considering accepting bitcoins for my business, but without this how do customers make regular payments easily?
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May 04, 2012, 09:47:12 PM

At the moment, most pay-monthly or pay-annually services use invoices, and warn their users via e-mail or other methods several days before their payment is due, then they can deposit the appropriate amount of BTC in their account on site, before the payment is due.
At the moment, there is no pay monthly option in the Bitcoin client, most likely because it's not on the top priorities. There's also many flaws in the design, for example if you accidentally left it paying 1BTC every month to 1blablabla, and suddenly the payment address changed, the Bitcoins would be lost (or scooped up into the owners personal funds rather than your own).
There may be certain escrow services that allow pay-monthly sort-of automation, although I haven't used any so I don't know of any examples that do so.

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May 05, 2012, 05:33:30 AM

It could be easily done by writing a short script that first runs the client as a server, then sends the BTC with the sendfrom or sendtoaddress command and then shuts down the server with the stop command. And it would execute once a month.

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