The $250,000 Bitcoin Domain Name: Bitcoinwallet.com Launched

Domaininvesting.com reports that the bitcoinwallet.com was sold in February for $250,000 and now appears to have been launched as a new business.

The site's stated aim is to support a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term wallet "as easy as your name". It consolidates an individual's multiple bitcoin addresses into a single page. This alone wouldn't be incredibly novel, considering the variety of other services out there that can achieve the same effect. Here, users get a distinct "domain" (ironic considering the beginnings of the site), a personal page stating your goals and your "official" wallet. It takes the form of: name.bitcoinwallet.com.

There is a social twist as well, with the most popular pages shown front and center. These may include, for example, popular causes for bitcoin donations. The most visited pages include: Dorian Nakamoto- the new quasi-hero of the crypto community, Edward Snowden (both who have received crowdsourced funds), and someone called "scammer.bitcoinwallet.com".

The site lets you send bitcoins to any other user without a fee and apparently with instant confirmation. Deposits and withdrawals into your own account, however, are charged a 0.0008 BTC ($0.36) transaction fee to cover miner fees and costs for the service.

Among security features is the increasingly popular proof-of-Solvency Solvency Solvency is defined as the quality or state of being solvent, relating to any individuals or businesses’ ability to pay off long-term debts including incurred interest.In essence, solvency is the ability of an entity to continue operations into the foreseeable future. Companies that become insolvent end up filing bankruptcy while solvency ratios can be performed by investors or analysts to evaluate a company’s ability to stay in business. How is Solvency Determined?Common solvency ratios used in Solvency is defined as the quality or state of being solvent, relating to any individuals or businesses’ ability to pay off long-term debts including incurred interest.In essence, solvency is the ability of an entity to continue operations into the foreseeable future. Companies that become insolvent end up filing bankruptcy while solvency ratios can be performed by investors or analysts to evaluate a company’s ability to stay in business. How is Solvency Determined?Common solvency ratios used in Read this Term concept. Anyone can apparently confirm that another user's balance is accounted for without actually viewing a specific user's balance.

Continuing with the domain name theme, premium usernames can be purchased. Pricing is based on a sliding scale: an initial fee ranging from 0.1 BTC to 2 BTC plus a yearly fee ranging from 0.01 to 0.2 BTC.

The launch is (very slightly) reminiscent of Namecoin and their mandate to use their crypto protocol to decentralize domain names on the web.