How to set and cancel a recurring payment

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Authored by @silverstackeruk

Hello, SPIer's. Today we are going to look at 1 of the new toys we got in last week hardfork, it's a good one and something I have always thought would be great but never actually thought it would be added. What else could I talking about other than "recurring payments". As an investment token, this opens a lot of doors for us as we can basically create new things that let and reward users to invest/save regularly on the blockchain. Real game-changer.

Ok so I had planned to do a bunch of snapshots to show a detailed tutorial of how to do this but it's dead simple, just as easy as a normal transfer with a few extra steps. I went ahead and took 20 minutes to make a quick video instead. To be honest, I dont even think a tutorial should be required as it's that easy but just to show how easy,

Obviously, @cublife is perfect for this upgrade based on its monthly distribution model where new CL is minted and issued on the 21st of each month. I can see 1 user @bashadow is the first investor to have a recurring payment set up to @cublife.

This opens the doors to many projects that have been around but never done well. Some projects are heavily dependent on new cash flow to grow and build, ponzi scams will be the 1st thing many will think of but im thinking of projects like lotto's, saving clubs, etc. These sorts of projects start well but receive regular payments to survive. What good is a lotto if people buy tickets once and never again? No good is the answer. Same for a savings club, they start out strong with good intentions but fail because people forget to make payments and then quit. Recurring payments offer the lifeline of regular new funds and that's a big deal when it comes to growth.

Today's post is not a long one as the video took me a little time. LBI will be taking advantage of this upgrade so I thought a quick tutorial to show our share to others would be a good way to say, we're gonna need to know how to do this as we might build projects around it. Should also mention it's HIVE only, no hive-engine tokens. This could be something the hive-engine team might release but if they cant pull a fee from it, we'll probally never it.

Thank you for taking the time to read through this post, if you liked it, feel free to upvote are share it.



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19 comments
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Today's post is not a long one as the video took me a little time. LBI will be taking advantage of this upgrade so I thought a quick tutorial to show our share to others would be a good way to say, we're gonna need to know how to do this as we might build projects around it. Should also mention it's HIVE only, no hive-engine tokens. This could be something the hive-engine team might release but if they cant pull a fee from it, we'll probally never it.

I find it interesting and i have upvoted it..


Posted via proofofbrain.io

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I’m excited to see how the project implements these new features. I’m waiting to see how many Leo I’m averaging at the end of the month with my Cublife investment. Then I’ll be setting up a recurring investment as well. !LUV

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I was a having a bit of a hard time figuring out what the actual use cases for this feature would be. You covered a lot of great ones in this post. It makes a ton more sense to me now. Thanks for sharing this!

Posted Using LeoFinance Beta

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Well I know that the guys at CTP were really happy about recurring payments but good point about the fees. So you think it will be unlikely to ever happen or do you think the fee could be an enabling function for the token (aka one time fee).

Posted Using LeoFinance Beta

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these kinds of tutorials should be readily available in the front ends because it's difficult to find information like this by searching on the blockchain

Posted Using LeoFinance Beta

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Great tutorial, such info makes us more aware of the HIVE blockchain capabilities...

Posted Using LeoFinance Beta

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WARNING - The message you received from @anaivelazco31 is a CONFIRMED SCAM!

DO NOT FOLLOW any instruction and DO NOT CLICK on any link in the comment!

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I'm the only person who is screaming Patreon!!!!!
We can totally totally have a super cheap crypto alternative to Patreon!!! We could even allow people to donate with their upvotes!!! Wouldn't that be really cool. Someone needs to get this Dapp working!!!
!PIZZA

Posted Using LeoFinance Beta

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Very useful post which I am keeping it in my bookmark list just in case

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What synchronicity. It was my research into cublife that led me to leofinance which then led me to some sort of steemengineteam that had been exploiting my vote through some old steem auto voting thing i had no idea what was going on some awful process about recovery account having to not be steemit. For days i was in a miserable recusive process with hivesigner having to handwrite new private keys only to then struggling to decipher my handwriting which had worsened after shattered on ice broken wrist a few years ago. At one point i was certain that i had lost my account for good. @steemengineteam @starwarz @vapenation these are accounts that still exist that had slowly leeched my accounts values and efforts for years. It appears as it may be a single person upvoting commenting and interacting with a dozen different accounts. I guess he thought he was all that. On the steem blockchain i started following the money and ended up with the address to binance. After that they sent me forty steem and an apology that that had happened. I GUESS that was around the amount they grifted from me but ill never know. I had prob logged into steemengine using an owner key so it was my own damned fault. Hiveengine steemengine whew it still makes me dizzy. It was terrifying to have to endure the small factions of too much power held at certain discord groups. Wether to trust third party apps when it says not to give certain private keys to third party apps. And then to see even within the voting of delegates some kind of fractal of the suspect eating away into the top 20. Chaos theory, am a strange attractor causing rapid changes. Watch how insane the movement of murmurs and you get an idea of tensors calculus rate of change. Things i know little about but feel them deeply?

Ramble on. I would like to thank the individuals 8F59A808-F763-499C-B720-24BA7C0D6918.jpeg
Who helped me and didnt lash out when i was pretty much out of my head. I still dont know the why and the what but it was right here in a conversation about cub that made me curious enough to investigate.

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