00:00 Why isn’t bitcoin used for memberships, subscriptions, and other recurring payments?
00:50 Push vs pull payments
02:42 What you need to set up recurring crypto payments
03:37 Using the Lightning Network for subscription based services
Why can’t you use Bitcoin for recurring payments such as memberships and subscriptions? The issues is in the architecture of Bitcoin. The Bitcoin protocol will only allow “push” payments, and not “pull” payments. But this doesn’t mean that you can never use crypto for recurring payments. In fact networks such as the Lighting Network may work very well for subscription based services.
This question is from the bonus live stream on earning crypto, which took place on Jun 13th, 2020. If you want early-access to talks and a chance to ask questions in the monthly live Q&As with Andreas, become a Community Builder on Patreon: https://www.patreon.com/aantonop
Bonus Livestream Session – How to Earn and Sell for Crypto – https://youtu.be/OA08wZNvN8c
Bitcoin Q&A: What are the most exciting new Lightning Network features? – https://youtu.be/W34RdzFwz8M
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