BitTorrent Cryptocurrency

[gentlemand]

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.

And check how much those sites receive in donations. It's bleeding pitiful. And I assume most of the BTC sent is nicked as well.

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[Yakamoto]

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.

And check how much those sites receive in donations. It's bleeding pitiful. And I assume most of the BTC sent is nicked as well.

Well, to be fair, the users of Bitcoin are often more reluctant to give donations to people online (partially due to potential value changes), but even then the entire online community is often fairly stingy with their donations and it isn't all that common for people to give anything to others.

You are right, though, the donations have been very minimal in my observations. Maybe my hypothesis is wrong.

[freedomno1]

Apparently, Bram Cohen, founder of BitTorrent, has announced plans to introduce his own crypto-currency within the next few months.
http://www.trustedreviews.com/news/death-to-bitcoin-bittorrent-reveals-plans-for-rival-cryptocurrency

If he was able to put a cryptocurrency value on each seed that BitTorrent users currently serve/seeding. It might just be something
Bittorrent users will be able to provide seed and earn cryptocurrency amount per uploads

That is an interesting development Bittorrent always had the Peer to Peer aspect that was applicable to cryptocurrencies the only issue that remains is the size of the block and the type of storage. Maidsafe, Ether etc already have the design similar to storage so how they do it different would be worth watching. Well off to the observing panel.

[Naokia980]

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.

And check how much those sites receive in donations. It's bleeding pitiful. And I assume most of the BTC sent is nicked as well.

Well, to be fair, the users of Bitcoin are often more reluctant to give donations to people online (partially due to potential value changes), but even then the entire online community is often fairly stingy with their donations and it isn't all that common for people to give anything to others.

You are right, though, the donations have been very minimal in my observations. Maybe my hypothesis is wrong.

What do you mean with"very minimal "? Should rich guys donate to them?

[gentlemand]

What do you mean with"very minimal "? Should rich guys donate to them?

Nope. It just demonstrates the appetite for torrenters to part with their money.

Here's the address posted on the Piratebay - https://blockchain.info/address/129TQVAroeehD9fZpzK51NdZGQT4TqifbG

Those countless billions of dollars worth of content have garnered...

Wait for it...

11 BTC in donations.

Anyway, as I said before I don't think this is going to have anything to do with torrents. He probably wants to separate himself from that dark little corner.

[MissGrey]

BitTorrent always has been a "free" service and make a cryptocurrency based on storage, what make it different to others?  there are already other projects similar to this. Also, I think that make a project like this maybe would do a negative effect because some users aren't accustomed this technology or simply won't be in accordance with this.

[Lauren Smith]

This is awesome !! Very clever I'm not sure why noone had thought of it before. I will seed even more then I currently do anyway. Get paid too ! 

author=LuanX3 link=topic=1887650.msg18756018#msg18756018 date=1493218950]
I actually hate people creating coins for the weirdest things, like that concoins. What is the point of creating new coins that do not have anything innovative but just to create a coin for a particular purpose? Why not just use bitcoins for bittorrents? It still does the same thing and it doesn't need to create a new shit coin.

Actually concoin is pretty good and has an actual use and reason to be same as this coin.

I was wondering when something like this would be seriously considered....However, I do see where it might cause a backlash.  A project like this doesn't mean that downloads are paid for....it just means that seeding is paid with an otherwise arbitrary asset....right?

Yes that's right. Coins will be paid out according to some formula they have and given to you for seeding. What we will be seeding is another story. Maybe it doesn't matter. But I think they should have their own library as well. Just a thought.

BitTorrent always has been a "free" service and make a cryptocurrency based on storage, what make it different to others?  there are already other projects similar to this. Also, I think that make a project like this maybe would do a negative effect because some users aren't accustomed this technology or simply won't be in accordance with this.

What are you even talking about ? There no projects like this. Also if someone doesn't use torrents then this isn't for them so I'm not sure what you going in about when you say some people are not "accustomed".

[clickerz]

I think this is a good chance for bit torrent to raised funds and improve its services through ICO. Bit torrent / torrent as a name is already known and I think its easy for him to raised higher amounts since people are enjoying the benefits of this system. I am also supporting this project if ever this will be materialized and push through.

[hardtime]

This is just going to end up being like any other coin, it's going to garner an insane amount of attention due to the simple fact that the person in charge is someone who actually has some sort of following due to the company / service he provides to people. With this known, people will think he has a reputation to uphold and his coin has to do good simply on this fact of reputation. But like anyone else, this guy is simply going to make a ton of money off peoples' false hope and hell run away with a lot of money.

This is going to be everything but revolutionary, sad but true.

[pooya87]

What do you mean with"very minimal "? Should rich guys donate to them?

Nope. It just demonstrates the appetite for torrenters to part with their money.

Here's the address posted on the Piratebay - https://blockchain.info/address/129TQVAroeehD9fZpzK51NdZGQT4TqifbG

Those countless billions of dollars worth of content have garnered...

Wait for it...

11 BTC in donations.

Anyway, as I said before I don't think this is going to have anything to do with torrents. He probably wants to separate himself from that dark little corner.

this is usually the case with all the donations. and also partly because most people don't even have bitcoin!
also there are lots of donation addresses, mostly belonging to the content providers (pirates) and some donations go directly to them. and we all know that bitcoin is not anonymous and DMCA is watching, shh

[Golftech]

This is just going to end up being like any other coin, it's going to garner an insane amount of attention due to the simple fact that the person in charge is someone who actually has some sort of following due to the company / service he provides to people. With this known, people will think he has a reputation to uphold and his coin has to do good simply on this fact of reputation. But like anyone else, this guy is simply going to make a ton of money off peoples' false hope and hell run away with a lot of money.

This is going to be everything but revolutionary, sad but true.

well its another project to watch out and see to it that it will served its sole purpose, we are looking for the service that will make the progress
continue and served the needs of the project, as many of us here waiting and watching where this project will bring, keep moving forward and
make this things happen for crypto lovers.

[Kemarit]

Lol. Not another coin that will so called "beat" bitcoin. 1000 coins have tried, 1000 coins have failed. I like the idea though, but I don't think this will become a bitcoin killer.


"Cohen also took aim at Bitcoin during his appearance on the podcast, saying he considers it to be "still over-hyped".

He added: "it's getting a lot more media attention than the actual impact that it's having so far... a lot of people get excited about Bitcoin because it's gone up a lot in value and they have made money off it."

Its all about the money. Cohen just want to have a share of the market because crypto-currency, bitcoin for particular is very popular now and prices are getting higher everyday. For all we know he has already a lot of bitcoin in his wallet as investment. Everyone is really jumping on the bandwagon now and riding the new revolution - Bitcoin.

[Amph]

this resemble a bit datacoin, an old coin that give you reward for uploading data on torrent, not really a new project, and i would prefer if they focus on implementing bitcoin in their idea

all this "i want to create my own coin" is always detrimental and have no future, in fact every time someone even among the big(google or microsft) try to do it , it will always result in a failure

[Herbert2020]

it is perfectly understandable to be honest
there is a huge market with a lot of profit that is also easy to make. you just code and then premine, ICO, crowd-funding, or whatever else you want to call it and then release the code and people pay for it and you get rich.
although i am a bit disappointed to see someone like Cohen do this. i hope i am wrong about my assumptions.

[sotoshihero]

this resemble a bit datacoin, an old coin that give you reward for uploading data on torrent, not really a new project, and i would prefer if they focus on implementing bitcoin in their idea

all this "i want to create my own coin" is always detrimental and have no future, in fact every time someone even among the big(google or microsft) try to do it , it will always result in a failure

I think I got your point here. Though I like the idea of this proposal but of course we need something that this coin has a purpose or demand. I hope they are serious about this project and continue to innovate the said system. I am hoping that this will not become a money making activity only but something with significance for the benefit of all.

[saocodonls95]

Great info, coin for ""seed"". This is other way to used internet money

[Wesimon]

That was a great idea. The users will gain from bittorrent while seeding a file. This will result to every file from the servers of bittorrent have more seed. That will increase the download speed of files. This will be a revolutionary change for the torrent community. I do hope that bittorrent will launch their ICO soon and I am sure that this will be a hit 

[freedomno1]

That was a great idea. The users will gain from bittorrent while seeding a file. This will result to every file from the servers of bittorrent have more seed. That will increase the download speed of files. This will be a revolutionary change for the torrent community. I do hope that bittorrent will launch their ICO soon and I am sure that this will be a hit  

That is one way to promote seeding just like Leech all you want but we get paid to Seed now so it's all good, even still the premium seeding sites will likely remain popular.
(From the leeching battle to the sharing and seeding battle that would be fun to watch)

[Seansky]

That was a great idea. The users will gain from bittorrent while seeding a file. This will result to every file from the servers of bittorrent have more seed. That will increase the download speed of files. This will be a revolutionary change for the torrent community. I do hope that bittorrent will launch their ICO soon and I am sure that this will be a hit  

That is one way to promote seeding just like Leech all you want but we get paid to Seed now so it's all good, even still the premium seeding sites will likely remain popular.
(From the leeching battle to the sharing and seeding battle that would be fun to watch)

If this project succeeds I think downloading torrents sometimes will be faster because there will be many seeders because they can earn some coins just by seeding. I think this project might be useful not to us but of course to those who download torrent since torrents will be faster to download. I do hope that they wont make torrenting be a paid service because of this altcoin they made.

[freedomno1]

That was a great idea. The users will gain from bittorrent while seeding a file. This will result to every file from the servers of bittorrent have more seed. That will increase the download speed of files. This will be a revolutionary change for the torrent community. I do hope that bittorrent will launch their ICO soon and I am sure that this will be a hit  

That is one way to promote seeding just like Leech all you want but we get paid to Seed now so it's all good, even still the premium seeding sites will likely remain popular.
(From the leeching battle to the sharing and seeding battle that would be fun to watch)

If this project succeeds I think downloading torrents sometimes will be faster because there will be many seeders because they can earn some coins just by seeding. I think this project might be useful not to us but of course to those who download torrent since torrents will be faster to download. I do hope that they wont make torrenting be a paid service because of this altcoin they made.

That is basically the precedent hinted at here a distributed altcoin tor would mean that those who participate need to have a way to earn which we presume is seeding files. If so then we may see a division of bittorrent to a paid and unpaid section with different seeders. We already have private torrent sites with minimum seeding requirements to join and stay a member so I can see little clubs being made if it keeps the P2P structure and has a filter mechanism. Hard to speculate there isn't even a whitepaper to explain how it functions.

If it's just storage though Maidsafe already has good progress on that front but there can be more than one, the skill level and development paths may share similarities but they may be complementary to one another in the end.  
https://maidsafe.net/