I was thinking about the advantages of PayPal over Bitcoin, and the way we can make this system much easier for end users.
With PayPal, you can send money to an email address, and email addresses are much easier to remember than Bitcoin addresses.
I was wondering if we could do the same with Bitcoin. Allow people to send money to a domain name.
So instead of sending money to "113oN6A93WnAiK2iKD4BpVMQyDY4fbGEay", why not just send money to "jonwaller.net"?
I think there are nice two ways to do this:
Embed a bitcoin in a web page. Just like RSS or linking an Author, you can add a "LINK" in the head like this:
<link rel="bitcoin" href="http://example.com/page-with-only-my-bitcoin.htm
I made a Chrome extension proof of concept:https://chrome.google.com/webstore/detail/bkanicejfbhlidgjkpenmddnacjengld
Another way would be through a BITCOIN DNS record, but that's more of a hassle to change, and set up, implementation "left as an exercise for the reader."
Obviously money can go to the wrong person if someone hijacks the website or DNS and replaces their own number, but PayPal is vulnerable to the same thing, and I've never heard of that happening.
What do people think?