hosting your own identity is a luxury that few can justify today. I agree with Wesley Felter and appreciate the prerequisites that he lists. But I'm a patient person.
Ten years ago having a computer in the home was an oddity. Five years ago having a LAN in the home was an oddity. Now you can pick up a so-called DSL router at your favorite computer store and have an instant LAN configurable with an HTML interface.
To many seem to assume that centralization is the only way to get scalability and reliability. Every server I have dealt with has quotas, down time, and limitations on the services they provide (example: no full text indexing). The initial reason I started working from home was because I deal so much with the outside and external connectivity was actually better at home.
P2P shows that there are alternatives to static IP addresses. Perhaps the right place for my e-wallet is in my back pocket.