The inability to do subscription payments in Bitcoin has been a huge hindrance to payment adoption and merchant acceptance
But NWC fixes this
Discussion
Subscription payments, however, are a net negative, I think. It encourages the business model of getting people to signup but them forget they have the service. Bad business.
With nwc you can setup expiries for each subscription, the user has way more control than credit cards
As well as just deleting them whenever you want unilaterally
Yeah, way better! How many subscriptions just make it impossible to get them to stop. So frustrating... This will make the market competitive again!
There are definitely pros and cons. However, with NWC, the user maintains the ability to cancel any time they want by simply removing the connection.
In general, though, I agree. The subscription model is part of the "you never actually own anything" plague of all streaming content delivery these days...
I can see a few reasons you might want to have something reoccurring, that you don't have to manually approve, outside of subscriptions though. For instance, reoccurring savings transfers or donations.
The whole "the user is in the driver's seat" paradigm of bitcoin does make it a whole lot better. The ability to cancel at any time is a game changer. Just revoke permissions and it stops! No hassle with the crapy website full of dark patterns. It'll finally make the market competitive, again.
Subscribed
Yeah, that’s not good for encouraging payments via bitcoin. Subscription would definitely help with the inelastic nature of bitcoin and the law of demand for consumers.
I believe you need to adjust your verbiage.
Inelastic as used as an economics term doesn't describe bitcoin's nature - infact it describes a good that is completely the opposite.
Nor in demand or supply is this an accurate depiction:
Supply doesn't change at all due to price change.
Demand does change as price changes.
Cool. Thanks for the info.
As long as the price that is locked in is realistic and reasonable though.
Otherwise, your product better be indispensable.
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Tell Tony LN subs have been resolved.
We solved that in mutiny forever ago with nwc
As long as you can easily cancel the subscription and they don't have access to your Bitcoin this is good.
I can't stand how credit cards companies don't allow you to easily block subscriptions because of that I am hesitant to use my credit card online.
Bitcoin is going to completely change the system. It will make people spend more online because the will not have to worry about their or forced never ending subscriptions.