This project is inspired by: https://github.com/genesisdotre/Bitcoin-Games-nLightning-Mind-Chrome-Extension
I was trying to find if there is a way of streaming payment, literally satoshis per second.
Question on StackOverflow: https://bitcoin.stackexchange.com/questions/88117/does-lightning-network-has-concept-of-continuous-stream-of-value
Streaming payments is not part of the lightning network protocol yet. However you can build a lightning app that simulates exactly this.
I'm stealing this idea. Not exactly stealing because I feel partially responsible for thinking about it, just not being fully aware if this is already a part of the protocol
build and support technology that can’t abuse users
You are in control of all your subscriptions.
Pay for the stuff you are actually using.
It’s not Netlix and other companies keeping your billing details, credit card data.
It’s not service providers holding on to your upfront payments.
It’s not banks overcharging you, stacking hidden fees.
It’s you pushing payment to them.
You are in full control, they cannot run away with your money, they can’t be evil.
| insurance | mobile plan | bike rental | |
|---|---|---|---|
| OLD 🏦 | pay annual | pay monthly | pay daily |
| NEW ⚡️ | pay daily | pay hourly | pay every minute |
| Default increment | 1 day | 1 hour | 1 minute |
| Default prepayment | 1 week | 1 day | 15 minutes |
There should be some buffer, reservoire, grace period.
I don’t want to lose my subscription just because my node went offline.
I pay for my internet, my internet is down, cannot SSH to my node and fix it. Catch-22, just like this outage by Google: https://www.wired.com/story/google-cloud-outage-catch-22/
As my longevity (reputation, loyalty) as a customer increases the service provider can tweak the values.
Initially, as we operate in a trustless (hostile) environment, it will be a customer who should prepay for the initial duration of the service.
For simplicity we can assume for nodes are online, if one of the nodes is offline cannot do much.
- If my node is online and their node is online then I can request the new invoice via REST API, get the invoice and pay it.
- If my node is offline, then cannot pay anyway.
- If their node is offline, then cannot pay anyway.
Fees on lightning network: unfairly cheap.
BUT… I ran into a feature, when I couldn’t send 1 sat because the fee was too high.
It was not possible to send 1 sat and spend 1 sat to send it.
I suggest we set the default for 1000 sat which is $0.09 at the current prices.
Let's assume this project is completed and we have ability to stream payments on Lightning Network. But who will be the receiver on the other end?
Bitrefill - 13 June 2019 - https://www.coindesk.com/bitcoin-startup-bitrefill-raises-2-million-seed-round-for-worldwide-expansion
OpenNode - 19 Decemeber 2018 - https://bitcoinmagazine.com/articles/bitcoin-payment-processor-opennode-gets-125m-investors
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Similar to PayPal: https://developer.paypal.com/docs/integration/direct/webhooks/event-names/#billing-plans-and-agreements
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BILLING_AGREEMENTS.AGREEMENT.CANCELLED -
If the subscription is cancelled (either explicitly or via lack of payment) the receiving node should inform the service provider.
- This is their competition, they are sponsoring the prizes.
- Placeholder submission: https://devpost.com/software/lightning-subscription-can-t-be-evil-streaming-payment
- For reasons outlined above we will usee Blockstack login and submit the completed product to app mining
So let's assume I rented a VPS and it's spinning CPU cycles... Is it really my own machine, my own node, how do I assure it's not backdored right from the start?
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This is cool: https://canarytokens.org/generate
Since I started working on this project, I've discovered the following:
- Joule Allowances -
13 June 2019: https://twitter.com/wbobeirne/status/1139229792128180224
This is ideal for apps that have small, frequent payments to access content (For instance, a video streaming platform that charges you for every minute of viewing time.)
- Sablier -
1 June 2019: https://twitter.com/PaulRBerg/status/1134773451888238592
It's a decentralised app for continuous payments. Up to you to decide what to use it for, but works best for paying salaries by the minute 💸
- ERC: Money Streaming - ethereum/EIPs#1620
Currently there is no “force push” to a trigger payment, need to have invoice first.
Check this out: lightningnetwork/lnd#2455
- Mars, @marsXrobertson on Twitter
- Dave
