BitCoinTorrentz.com - Torrent Download Service

[mizike29]

Doesnt really make sense to pay money for torrents, that are illegal to download, and you can get free and fast from any FREE private torrent site, or even public site.  I can see the anonomyous aspect of the service worth something vs public torrenting, but private torrent sites, pretty easy to become a member, get invited, super safe, max download speeds, doesnt seem to make any sense why someone would pay for a service that is already free?  And if you wanted to be anonymous you could always use tor.  I also dont see how there would be any way for you to provide faster speeds then ones personal max download speed anyways?  Example torrentleech, revolutiontt.org   both private, pretty much 0 day release, maxes your bandwith out, mine is 1.8mb/s full throttle on pretty much any download and its free.  Just dont quite see the upside of paying bitcoins for an illegal free service that already has been in existence for years?  What is the benefit of using this method?  I guess if your torrents are blocked by your ISP, in college etc then maybe this service would make sense a little, but kinda missing the point, looks like from the site that I would upload a torrent file that I already dowlnloaded and have to the site?  I couldnt give a link from a private torrent site I assume?  Kinda miss the concept on this one I guess.

[dancupid]

Doesnt really make sense to pay money for torrents, that are illegal to download, and you can get free and fast from any FREE private torrent site, or even public site.  I can see the anonomyous aspect of the service worth something vs public torrenting, but private torrent sites, pretty easy to become a member, get invited, super safe, max download speeds, doesnt seem to make any sense why someone would pay for a service that is already free?  And if you wanted to be anonymous you could always use tor.  I also dont see how there would be any way for you to provide faster speeds then ones personal max download speed anyways?  Example torrentleech, revolutiontt.org   both private, pretty much 0 day release, maxes your bandwith out, mine is 1.8mb/s full throttle on pretty much any download and its free.  Just dont quite see the upside of paying bitcoins for an illegal free service that already has been in existence for years?  What is the benefit of using this method?  I guess if your torrents are blocked by your ISP, in college etc then maybe this service would make sense a little, but kinda missing the point, looks like from the site that I would upload a torrent file that I already dowlnloaded and have to the site?  I couldnt give a link from a private torrent site I assume?  Kinda miss the concept on this one I guess.

I use it becasue for some torrents it's much faster and guarantees my download - It takes a couple of minutes to download on bitcointorrenz and then I can immediately start watching as I stream it from there. You can just paste the torrent link, and it only costs 0.04 btc per gb if you register.
Personally I find it a very useful service.

[molecular]

Doesnt really make sense to pay money for torrents, that are illegal to download, and you can get free and fast from any FREE private torrent site, or even public site.  I can see the anonomyous aspect of the service worth something vs public torrenting, but private torrent sites, pretty easy to become a member, get invited, super safe, max download speeds, doesnt seem to make any sense why someone would pay for a service that is already free?  And if you wanted to be anonymous you could always use tor.  I also dont see how there would be any way for you to provide faster speeds then ones personal max download speed anyways?  Example torrentleech, revolutiontt.org   both private, pretty much 0 day release, maxes your bandwith out, mine is 1.8mb/s full throttle on pretty much any download and its free.  Just dont quite see the upside of paying bitcoins for an illegal free service that already has been in existence for years?  What is the benefit of using this method?  I guess if your torrents are blocked by your ISP, in college etc then maybe this service would make sense a little, but kinda missing the point, looks like from the site that I would upload a torrent file that I already dowlnloaded and have to the site?  I couldnt give a link from a private torrent site I assume?  Kinda miss the concept on this one I guess.

you said it yourself: 1.) anonymous aspect, 2.) can use even if bittorrent traffic blocked

also: what's that about having already downloaded the .torrent file? 1.) that's only a small metafile, 2.) you don't even have to download it, you can just supply a link to it.

[mjcmurfy]

curious what happened with the stock? It was over 1.5btc per share now it's at .5

I am curious myself. I can't answer this question for you, as you would need to ask the investors themselves. The stock price seems to move of its own volition, in ways that I cannot predict. I can only put this down to the over-exuberance of investors. It is still valued at approximately 0.6 btc, which is 3x my IPO price.

Doesnt really make sense to pay money for torrents, that are illegal to download, and you can get free and fast from any FREE private torrent site, or even public site.  I can see the anonomyous aspect of the service worth something vs public torrenting, but private torrent sites, pretty easy to become a member, get invited, super safe, max download speeds, doesnt seem to make any sense why someone would pay for a service that is already free?  And if you wanted to be anonymous you could always use tor.  I also dont see how there would be any way for you to provide faster speeds then ones personal max download speed anyways?  Example torrentleech, revolutiontt.org   both private, pretty much 0 day release, maxes your bandwith out, mine is 1.8mb/s full throttle on pretty much any download and its free.  Just dont quite see the upside of paying bitcoins for an illegal free service that already has been in existence for years?  What is the benefit of using this method?  I guess if your torrents are blocked by your ISP, in college etc then maybe this service would make sense a little, but kinda missing the point, looks like from the site that I would upload a torrent file that I already dowlnloaded and have to the site?  I couldnt give a link from a private torrent site I assume?  Kinda miss the concept on this one I guess.

Not everyone has access to private torrent trackers that can max out their download pipe. Others may have limited or expensive bandwidth and cannot afford a 1:1 seeding ratio, which is required of you on these sites. Tor is too slow for anonymity purposes. Some people cannot use torrents because they are behind firewalls or other restrictions that throttle their download speeds. Others simply want streaming access to video files after a few minutes, while some use to service because they value their anonymity. There are many different useage-scenarios, I am not going to reiterate them. If you can't see the utility of the service, fair enough. Others do however.

I did not say that the service can provide faster speeds than the home user's maximum download speed, what I did say however is that the torrent will download up to 100x faster than it would on a home connection, meaning the file is available for instant streaming access (e.g. to vlc) or instant download access within minutes.

When you download a torrent at home, you have to wait for 100% completion before you can access it. Even with fast download speeds, this can sometimes take a long time. This service will download it for you in a matter of minutes, and it is then instantly available to access from the server. You can then stream it to your computer if it is a media file, or use a download accelerator to ensure that you max out your download bandwidth - you cannot always achieve this with public torrents, even well seeded ones.

Yes, you can give a link from a private torrent site, as long as the tracker allows torrent downloads from IP addresses other than that used to login to the site itself. If not, you can just download the .torrent file and upload it. Please note however that this service is not intended to be used as a seedbox or long term storage of files, so I cannot guarantee that your torrent will be seeded according to the rules of the particular private torrent tracker you are using.

And don't forget, not every torrent is illegal! There are many legitimate uses of the technology. Bitcointorrentz does not condone the use of the service for the downloading of copyrighted or illegal materials. So if you want to download illegal files, please feel free to do so using your own home connection, and suffer the consequences should your ISP or a IP rights organization find out about it.

Anyway, as I said, If you can't see the utility of the service you obviously have no need for it. On the other hand, If you DO have a need for the service, for whatever reason, the utility is immediately obvious. Clearly you don't need it, but thank you for your input nonetheless.

[astana]

cool service

[mizike29]

Yeah I have no need for the service and I would guess anyone with say comcast or verizon etc wouldnt need it, but I could see people that want to be anonymous for whatever reasons using it and people blocked by firewalls, colleges etc,  I just figured there were easy ways around that these days.  I remember when I was in college it was tougher to download but figured by now that would be fixed lol.  Yeah the streaming is pretty cool, didnt comprehend how that was working, you are not downloading the entire torrent at one time, kinda different.  Yeah in my case and most I would assume that have a normal internet connection, any torrent can be fully downloaded in a couple of minutes, I download about 10 a day everyday lol so I am a heavy ass user.  Cool concept though, and obviously very affordable.

[molecular]

Wow... all 200 shares have now been bought, in less than 24 hours! Thank you to everyone who has invested.
Dividends will be paid every 2 months, on the 16th of the month - the date the company was listed on GLBSE.

Soo, what's the status with dividends and publishing numbers? Looking forward to see what's been going on

[mjcmurfy]

It's only been one month, but traffic to the site has been steady and growing and the sales figures are looking quite good.

Total earnings to date are 8.93177 btc, with approximately 221 downloads, equating to about 7 downloads per day and approximately 0.04042 btc per download on average. Some of course download much smaller files, others much larger, and some of those earnings were when the price was more expensive.

There are 39 registered users on the site so far, and 1,719 unique visitors according to google analytics. There are quite a number of users downloading without registering too, but unfortunately I have no way of determining the unregistered:registered downloads ratio. Earnings are 435% above my initial growth estimates, and this is even taking into consideration the 50% price drop... so I would say things are well on track to date.

I said dividends would be paid every two months, but was just wondering if shareholders would prefer I pay monthly instead?

[molecular]

It's only been one month, but traffic to the site has been steady and growing and the sales figures are looking quite good.

Total earnings to date are 8.93177 btc, with approximately 221 downloads, equating to about 7 downloads per day and approximately 0.04042 btc per download on average. Some of course download much smaller files, others much larger, and some of those earnings were when the price was more expensive.

There are 39 registered users on the site so far, and 1,719 unique visitors according to google analytics. There are quite a number of users downloading without registering too, but unfortunately I have no way of determining the unregistered:registered downloads ratio. Earnings are 435% above my initial growth estimates, and this is even taking into consideration the 50% price drop... so I would say things are well on track to date.

I said dividends would be paid every two months, but was just wondering if shareholders would prefer I pay monthly instead?

Thanks for the numbers, those look quite good, I'd say. One question remains: what was the cost of running the site so far and what is the "gain" (having a hard time with english accounting terminology)? What I'm getting at: Would there be any dividends so far?

About dividends: For all I care you could pay dividends quarterly, every two months it totally ok.

EDIT: oh, and don't get me wrong, I'm not complaining about (lack of) dividends here. I didn't buy my shares for that reason, I'm just interested as to how well the biz is going money-wise ^^

[mjcmurfy]

@molecular: With regards to the cost of running the site, i.e. server costs and advertising, I will absorb these expenses for now using money raised from the IPO and pay the gross profit figure as dividends. This server is being paid for by myself and a friend, and it would be otherwise just sitting there doing very little and I would be paying the rental anyway. So for the time being, I consider the server as a personal investment to the service.

@Peter Lambert: With regards to the timeframe for payment of dividends, I don't really think a motion is necessary. I'll just go ahead and make one of those "executive decisions" and pay them monthly instead, unless any shareholders object to getting paid. I think this would be the most transparent way to do it. Plus I have always wanted to make an executive decision...  

Profit per share to date is 0.00893177 btc, which is a 4.5% ROI at my IPO price after 1 month. I will make the dividend payment later on this evening once the transfer to GLBSE has been confirmed.

[mjcmurfy]

Ok, I have paid 8.93177 btc to asset holders, but I'm a bit confused. On the GLBSE client, I clicked pay asset holders, and entered 8.93177. I think that payment was distributed only among the 200+ shares that have been sold, but not to the 700+ shares that I hold myself.

This is the first time I have paid dividends, so I am not 100% sure if I should have only paid profits for the amount of shares held by others? I assumed that the profit would be distributed equally among all 1000 shares, but it appears not to have been the case.

Oh well, I guess shareholders have gotten an unexpected windfall.

If anyone has any experience paying dividends on GLBSE, do you know where I went wrong?

[mjcmurfy]

Ahh... well, that kinda sucks. But at least I know for future reference now.
They really should make that more clear on GLBSE!
Can shareholders confirm receipt of their mega-dividends?

[molecular]

Ok, I have paid 8.93177 btc to asset holders, but I'm a bit confused. On the GLBSE client, I clicked pay asset holders, and entered 8.93177. I think that payment was distributed only among the 200+ shares that have been sold, but not to the 700+ shares that I hold myself.

This is the first time I have paid dividends, so I am not 100% sure if I should have only paid profits for the amount of shares held by others? I assumed that the profit would be distributed equally among all 1000 shares, but it appears not to have been the case.

Oh well, I guess shareholders have gotten an unexpected windfall.
If anyone has any experience paying dividends on GLBSE, I would appreciate some input.

Peter Lambert, you have a few tickers registered on GLBSE, right?
Do you know where I went wrong?

hehe. I've been wondering why I received such a huge dividend (0.03038017 BTC per share).

How many shares have been sold? I thought it was only 200, but 8.93177 / 0.03038017 = 294.

I'd be willing to give the too-much-payed dividend back, but that might be quite a hassle, if not impossible, to collect it from all shareholders?

[mjcmurfy]

I offered 200 shares at the IPO for 0.2 btc/share.
I have sold a few more since then, I have checked GLBSE and your math is correct.

Don't worry about returning the dividend. Like you said, it would be an impossible hassle. Let's just chalk this one up to stupidity on my part and a GLBSE lesson learned. I may deduct the excess from the next dividend payout, but it's not a huge deal to be honest. It's only a couple of bitcoin. Hopefully, there will be more by 16th of next month, and the month after that, and the month after that...

[2weiX]

love the service.
one request:

could it be possible to (optionally?) extend the availability from 3 to 5 days for registered members? what with all these new 20+gig HDTV torrents, three days sometimes is a little tight, when you share the comp and thus the bandwidth with the missis :-D




also: interested in investing smallish (getting smaller everyday, by the way things are looking for the BTCUSD). still some shares outstanding?

[mjcmurfy]

@2weiX: I am very glad you find the service useful! Unfortunately though, I have no way of distinguishing between torrents downloaded by unregistered users and those downloaded by members, so the only way to handle the deletion of files is after a standard timeframe. It was initially 7 days, but I reduced it to 3 after a number of users pointed out that it may be open to abuse if the torrents remained on the server for too long. I could increase the global time limit to 4 days though, if you are having trouble downloading the files in time. Or alternatively, just contact me through the contact form on the site and I can extend the time indefinitely for you until you confirm that it has been downloaded.

I will try and come up with a slicker way of handling this in the future though. I have a number of new features lined up for the next major update, which has been in the pipes for a while now. I don't have an exact ETA, but I am extremely busy with work until the end of october, so I don't think I will get round to it until the first or second week in november.

With regards to shares, unfortunately I do not have any more remaining for the IPO price of 0.2 btc, and the site does not need any further investment. But I thank you for your offer. You may be able to scoop some up from the secondary market if there are any shareholders willing to sell. You could put in a buy order on GLBSE for however many shares you want for whatever price you are willing to pay, and if any of the existing shareholders are interested, your order will be filled.

[mjcmurfy]

Considering the recent drop in the btc:usd rate, do shareholders think that I should increase the price back to the original level of 0.1 btc/gb, or continue with 0.05 btc/gb for the moment? I would appreciate feedback from anyone, including users of the service - would you be happy to pay 0.1 btc/gb?

[2weiX]

Considering the recent drop in the btc:usd rate, do shareholders think that I should increase the price back to the original level of 0.1 btc/gb, or continue with 0.05 btc/gb for the moment? I would appreciate feedback from anyone, including users of the service - would you be happy to pay 0.1 btc/gb?

is there a way to automatically adapt your fees to the BTC/USD?
if so, figure a USD/GB number that breaks even, add x% and update accordingly on a daily basis.

if not: it might help me use the service a little less if you raised the fees :-D

[cablepair]

using your service to download battlefield 3... pretty cool man, thanks

edit: really fast too 3.5+mb


question: how long do I have to download it from you, after you have completed the download?

[Ricochet]

question: how long do I have to download it from you, after you have completed the download?

This is answered in the first post, though I think it's wrong and is actually 3 days instead of 7, and the time starts ticking when you start the download and not finish it, as indicated a few posts up.  From the first post:

100% Anonymity
We place great value on the privacy of our users, and therefore pledge to provide a 100% anonymous service. No information is logged to our servers that could be used to identify you. All torrents are securely deleted after 7 days, and our service does not log IP traffic.