Back in August, @wiz announced that he was submitting an application for the top level domain .bitcoin on behalf of the bitcoin community #1541127
Today, ICANN published all the top level domain applications and wiz's application is among them.
Wiz specified that
The registration policy will be Bitcoin Only. We will verify all domain name registrants perform a Proof of Work: run a node, operate a seed, contribute to software, run a wallet, exchange, custody, payments or mining service, publish, teach, or convene a conference or meetup.
The registry will also pledge 21% of revenue from operating the .bitcoin TLD to fund Bitcoin open-source software development. The .bitcoin namespace is for the people who build and run the network, so we want to give a defined share back to the community.
I'm not entirely clear on what the process is going forward, nor the timelines, but it will be interesting to see how this develops.
Has anyone read this?
The .bitcoin name is a lease. You pay every year. The registrar can refuse renewal, seize the name or change the records.
Then the application to those masters wants to add a committee on top that checks to make sure the .bitcoin holder is following their rules and if not will revoke the name.
No one holds a key, no one can check anything against Bitcoin.
Everyone is trusting ICANN, the registry and a committee.
Adding layers of trusted 3rd parties, this sounds great!
i'm new on this about bitcoin and crypto, how can i start on this?
you already have, considering you paid 2 sats to make this comment.
I'm not sure what this means or how this works. How can I squat strategy.bitcoin?
Bitcoin-only policy is interesting - PoW = run node/operate seed/contribute to software/run wallet/teach = filters for actual builders, not squatters. Pledging 21% of revenue to open-source dev = putting money where mouth is. Curious how ICANN will handle contention since .bitcoin has had alt-root claims for years.