Oh sorry, forgot to mention that this is coming soon. The website shows the free cloud based app. We are seriously thinking of offering a self hosted version for those that can't host their data in the cloud.
You are absolutely correct. iferapp.com is the free cloud based application - the self hosted version will come soon :)
I just wanted to post it here and see if this is a good idea at all.
Besides, if you are thinking of opening it up for self hosting, what does it matter if the sample size of HN readers who seen your headline and click on it think it is a "good idea" or not?