Phosphorus and Lime

Still trying to wrap my head around this. Sounds simple enough. Take an address like this:

http://phosphorusandlime.blogspot.com/

and turn it into something like this:

http://tinyurl.com/cbmkx

The TinyDisk stuff sounds fascinating, but that's the part I don't quite understand yet.

A tracking link from xents.com
(doesn't appear to work)