200 sats \ 1 reply \ @DiedOnTitan 11 Jun \ on: Cool update on hedgehog protocol bitcoin
Does this require that all 12 months are funded, not spent, but funded?
Ok. either implies that the funds will be tied up, which now that I think about it, must be the case.
So this is more like a fully pre-funded but cancellable subscription use case. Part of the appeal of a traditional subscription is lost with money time-locked, but I am thinking about incentives where this might work...
Here is one: if Bitflix offers a diminishing monthly fee for the duration of the subscription, this might compel subscribers to hang on and lock their funds. If they cancel, and later want to subscribe again, the monthly fee restarts at the higher rate further incentivizing the monthly subscription model. Exciting stuff!
🦔HEDGEHOG🦔
Does this require that all 12 months are funded, not spent, but funded?
Yes. The money is "sent" into multisig addresses, which means they are prefunded, but I put the word sent in quotes because this happens off chain. The money hasn't actually moved, or at least that move isn't "final" yet -- the sender can overwrite it if the bridge server cosigns to overwrite it. I can automate the bridge server so that it signs whatever the sender wants if a virtual channel is marked as a bill payment, thus allowing the sender to freely overwrite one or more of their prefunded billpay channels if (for example) they have a sudden expense. Then later they can replace the overwritten ones with new ones of the same value when e.g. their next paycheck comes. Effectively borrowing money from "piles" that they previously earmarked for future bills. Which is pretty similar to what people often do in real life.
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