BitTorrent Cryptocurrency

[thebitcoinkiddo]

Interestingly, I realized that sites for torrents already allow users to receive donations in Bitcoin, so there are already a large number of uploaders who are familiar with Bitcoin, and who would be interested in this cryptocurrency.

Yup, because torrents are kind of hosting illegal files so BTC definitely has some degree of anonymity associated with it.

[1715199107]

1715199107

[unamis76]

Beyond the obvious comments of "this guy doesn't really know what he's saying about Bitcoin", there are some remarks left to be made.

"The short of it is what you do instead of computers burning electricity to mine you have storage space that's mining."

He's late to this "storage mining" trend, that has already come and gone (reminds me of Burst and Storj). Not sure why he thinks he's developing something entirely new. Joystream is also being developed, although at a rather slow pace (but at least it works via Bitcoin testnet already).

Anyways, it will be interesting to see developments on this, although upload credits had quite a few people against them in early p2p years... It will all depend on how they implement this. If they do it right, it may be a way to support big uploaders. I hope they factor in not only just upload speed and GB uploaded, but also time spent uploading or at least available to do so.

If there's an attempt to monetise torrenting, the torrenters will simply say fuck off and do their own thing. That's why they torrent.

I don't think they'll say no for a small reward if they keep files online.

Yup, because torrents are kind of hosting illegal files so BTC definitely has some degree of anonymity associated with it.

Incorrect, you should read up on torrents.

[Wesimon]

Earning from seeding was not a new idea after all. I found a thread here that claims a torrent site is already using this concept.

--snip--
9.Torrent Seeding
--snip--

Let's add 82 ways more.

I want to know about no 9. any info/website about this?

Joystream

I have to say, I am a bit disappointed that Bittorrent's idea was not new at all. I admit that I am not that updated in terms of the news about bitcoin. To think that I praised them about their idea.   

[CoinHoarder]

Interesting.

I think BitTorrent and Cryptocurrencies could go well together somehow. I am not exactly sure how or what project will "win" yet. There are already a few projects that are working on this or something similar. I am minimally invested in:

vTorrent:
- Incentivize seeders and uploaders
- Publish torrent metadata on the blockchain for search purposes (decentralized piratebay)
- The dev is weird/unresponsive and doesnt give many updates, it may be a scam I am not sure... but I only have some change in it just in case it blows up.

Visio:
- Already integrated with IPFS (decentralized internet)
- Already stores IPFS hash (web address) to content
- Already has a website integrated with IPFS for movie streaming (http://www.visio.wtf/)
- You can also do all of the above in the downloadable wallet
- Active and responsive dev

I've been looking into other projects along the same lines too. I found Atmos (Novusphere.io), but there seems to be a lot of discontent from ICO participants. Similar to the discontent from vTorrent token owners.

I think Visio currently has the edge, but I have yet to figure out how they are planning on monetizing everything and bringing value to the Visio token. I kind of agree that making people pay for things will not be very popular. The only other alternative I can think of is using inflation to add incentive like Steem does, but this didn't work out very well for Steem. So, who knows...

[ownageplocks]

This would really be something I'd be interested in. I've been a faithful user of torrents since the late 2000s. I wonder how much coin I could have accrued through all my seeding over the years. Regardless I hope other torrent sites will consider implementing or adopting a coin such as this. I wonder though how they will integrate the sending of the coins into the network.

[szpalata]

This would really be something I'd be interested in. I've been a faithful user of torrents since the late 2000s. I wonder how much coin I could have accrued through all my seeding over the years. Regardless I hope other torrent sites will consider implementing or adopting a coin such as this. I wonder though how they will integrate the sending of the coins into the network.

I've been contemplating over the feasibility of this project myself too but if they are able to succeed maybe we can also profit from seeding files online.

[Sundark]

Interestingly, I realized that sites for torrents already allow users to receive donations in Bitcoin, so there are already a large number of uploaders who are familiar with Bitcoin, and who would be interested in this cryptocurrency.

Yup, because torrents are kind of hosting illegal files so BTC definitely has some degree of anonymity associated with it.

This is the bitcoin address of The Pirate Bay, aruably the most popular torrent site at this moment:
https://blockchain.info/address/129TQVAroeehD9fZpzK51NdZGQT4TqifbG
Over the years they started acceping bitcoin in 2015 and since that time people donated more than 11 BTC
I don't think a sending a donation to TPB can be associated with fact that someone is downloading pirated content.

[ven_bug_trap]

Love the idea of being able to earn a currency by uploading to a certain tracker, and then being able to donate part of that currency to the tracker to keep it running. Not only will this help torrent trackers survive, but it will incentivise seeding, particularly on public trackers where it's basically nonexistent.

[robelneo]

They will not have a hard time promoting their own crypto currency since they already have a user base.Bittorrent is another example of programs that utilize the power of crypto currency and many more programs are coming in to take this kind of opportunity.

[iTradeChips]

They will not have a hard time promoting their own crypto currency since they already have a user base.Bittorrent is another example of programs that utilize the power of crypto currency and many more programs are coming in to take this kind of opportunity.

this is great. this morning while walking with a friend we were talking about a coin for torrent file sharing system. so i searched later and found this thread and an article about bram cohen https://torrentfreak.com/bittorrent-inventor-bram-cohen-will-start-his-own-cryptocurrency-170424/
i cant wait for this coin to launch !

[buenaobra]

Really interesting...This will really promote the advocacy of free file/info sharing.  Earning while sharing.  My 100% support is on this.

[asyakashi]

I am a bittorent user, digital currency is the strong attraction of every investor. Do not waste the best moment to try new innovations, that's better. Many agree with this project, and many do not support it. It's Normal, a challenge to seriously design this project.

[benedictonathan]

This is one project that can be developed so that peeps can earn while they seed their files. Might be used by pirates but if we can develop it so that we can start first with legit files - our own personal collections.

[MedaR]

If there's an attempt to monetise torrenting, the torrenters will simply say fuck off and do their own thing. That's why they torrent.

Yes this is true, they won't have much of it. This service should stay free.

Humans are always looking for opportunities to make money, that's usual. All of these altcoins are a clear result of that.

People will go other places as seen before. Bad investment plan.

What a great idea. This is going to be the next big thing in currency.

Why? Because you think this is something new, whole idea already existing and there is not much interest for this i presume. People will always choose gratis things, instead of buying them. This is basic of human psychology.