Idea: once you have a steady stream of users, automate some domain name squatting. Buy the cheap ones (.xyz, .website, etc.) for every name, then threaten submitters with libel blogs unless they pay up.
Although I am sure your intentions are pure, he raises a valid point. I think you'd benefit from making it apparent that "we won't steal or squat you name" somewhere on the landing page.
I think it's a fantastic idea, keep up the good work.