I disagree. If it is secure, others will follow and competition will make this a neat market. But still, who is making any money?
We needed this functionality in the mobile app anyway (it is difficult to input a bitcoin address on a phone
) And since it was needed by others, we wanted to share this with the community. We will focus on the speed and availability of the shortener so developers and users can focus on their tasks at hand.
the whole idea of using names or shortscuts for addresses is flawed as long as bitcoin doesnt have a reference field that can be filled with arbitrary data so multiple payments can be made to the same address.
then, shortening or naming, centralized or decentralized, makes sense.
Good point. While not simple, the way you can use the shortener now is simply requesting a new shortened address for your new bitcoin address that you use to receive every new payment. btc.to does not need to be used for every transaction. Rather, use this when you simply need to quickly share an address, tell someone over the phone, enter it into a mobile, etc. I treat my bitcoin addresses like check#'s, so each transaction is separate with the exception of my poor empty donation address.
Not in the sense of competition or security. I mean - if shortner service "XYZ.ly" decides to pull out of the business, or simply can't afford to keep their servers running, what happens to all those cute shortened URLs? That's right, they all break. Doesn't make sense to put all those eggs in that particular basket.
These are great points. I assure you we will not disappear on the community and no, this service is not for everyone. However, it is a GREAT service for people who require an easier way to share, remember, or input bitcoin addresses. Also, if you use a new address for each transaction, then the survival of the btc.to address is unimportant after the transaction has completed.
So in other words, let's say you are talking to someone on the phone and need to give him an address. Let's say he has the mobile app. You can go to btc.to get a short address, give it to him and he can send.
Hope this helps!