Subject: Re: [Bitcoin-development] Fwd: [BIP 15] Aliases

From: Walter Stanish <[email-masked]>
Date: Thu, 15 Dec 2011 14:41:02 +0800

>> Just so we're clear, what is the need for HTTP at all?
>> A query for a string and an answer can all be handled via DNS.

> It is a lot easier to set up an HTTP server to dynamically respond
> with addresses than a DNS record.

Interesting that you bring up the effort factor.

The notion that every individual will want to run their own DNS or
HTTP based alias system to dispense transaction-specific bitcoin
addresses seems - on this basis - alone a little far fetched. Such a
system would provide very little added value at significant hassle to
the small subset of users who could be bothered setting up such a
scheme. Also, remember that most people in the world don't even know
what DNS is, nor do they have the capacity or motivation to set up a
program on a web server for what amounts to minor ongoing time savings
and some vanity thrills.

To my mind, it is far more likely that third party hosted services
(such as providers of hosted wallet, conventional currency holding and
exchange services) will provide aliasing resolution, and that these
alias resolution services will operate on an alias@provider mechanism
(for example, IIBAN and its 'institution' codes @ ).

In addition, during the 'pre-transaction exchange' that the alias
resolution process essentially represents, additional value could be
added by these types of service providers by providing functionality
presently excluded from Bitcoin but relevant to real world financial
systems. For example this 'pre-transaction exchange' process might
include, in addition to alias resolution, transaction metadata
exchange (transaction description, invoice/order number, taxation
information, schedules of fees and charges, pre-arranged currency
exchange rates if filling an payment for an amount quoted in another
(eg: conventional) currency, shipping terms, transaction reversal
(cancellation) terms, escrow terms, etc.)

Regards,
Walter Stanish
Payward Inc.