[2019-01-05] BitTorrent Is Launching Its Own Cryptocurrency on the Tron Network

[Carlton Banks]

Hey as long as they are selling their original work in the file sharing website I don't care about it, but if you are starting out do you really want to go on a paid only file sharing website? As a content producer will you limit your viewers to people who are willing to pay you even if they don't know you? Of course not, some artists right now are discovered in soundcloud or youtube as these websites don't restrict their viewers/listeners to only the ones paying them.

Sure, and if people can find new artists on Soundcloud, then artists who get alot of plays can use their Soundcloud page to promote short clips of tracks they think audiences will like. Then they can take 100% profit by using file sharing networks to distribute the full length track/film.

the artist itself cannot do it independently that is why we have producers, publishers, labels and studios to help them for a fee.

Yes they can, artists don't need publishers, labels or studios, they can do it all themselves. The only thing they couldn't do before was accept money over the internet. They can now.

[Theb]

~snip~

Sure, and if people can find new artists on Soundcloud, then artists who get alot of plays can use their Soundcloud page to promote short clips of tracks they think audiences will like. Then they can take 100% profit by using file sharing networks to distribute the full length track/film.

But then again can you name me one content producer that is independent who became rich by now? Even Techn9ne or Macklemore who has been independent on their own for a long time needs the support of labels to get their tracks on the radio. Even content creators in blogs and Youtube has sponsors and other help to support them. You cannot really think that they can be rich on their own.

the artist itself cannot do it independently that is why we have producers, publishers, labels and studios to help them for a fee.

Yes they can, artists don't need publishers, labels or studios, they can do it all themselves. The only thing they couldn't do before was accept money over the internet. They can now.

They cannot limit themselves on a file sharing site to earn for a living (or at least be satisfied with it). Why limit themselves on the internet for money? Most artists right now are dying just to get their songs heard on the local radio. I mean they cannot be satisfied by just number of downloads to earn money. And if they do want to earn that way the only way to do that is to boost their fan base which can only happen if they are doing music tours or concerts all around the world which they cannot do alone.

[Carlton Banks]

You're talkin about the way it is now as if that's all that's possible. I'm just saying I think someone will figure out that they can cut out most or all of the middlemen. It's easy to argue your perspective, because you're just retelling what's happening outside your window. I'm saying that if you look at the direction these industries have been going in on a long timescale, eventually someone will take the final step to complete independence and also be a massive success. In the 1930s, everyone was completely dependent on Hollywood or Tin Pan Alley, or Broadway. That total dependence has been slowly disintegrating ever since.

[veleten]

Also, there's no precedent of successful crowdfunding of an AAA game or a Hollywood-quality movie yet.

Citizen Kane?

It's not exactly a new thing, platforms like Kickstarter were around for many years already.

It would be new if someone talented had the first ever 100% independent hit film/track/album. It'll happen, I've been saying this for years. Someone who's smart enough to know how good they are, and knowledgeable enough to know they can do everything them self. You don't need an industry when all the modern equipment is household grade.

oh, there are many successful crowdfunded games
one of my favorite games, the Banner Saga  (it has 3 parts now) was crowdfunded
Wastelands 2 was crowdfunded ,maybe not an AAA title, but definitely a fantastic sequel to the classics
I'm a fan of old school RPG and strategy games, there is this new project called Atom
and its a Fallout 2-like RPG , crowdfunded too

as for the Bittorrent's cryptocurrency and people who never pay for stuff, well there must be some good incentitive for them to buy content
and I don't see what model is going to be successful there, but in any case the sales should cover the coin development costs
I'm more interested, actually, in how Bittorent will sort the legal issues- royalties, piracy etc.
or they would have to spend their premined coins to pay fines to Microsoft and Bangbros 

[stompix]

So company expects people who have spent their entire lives doing anything not to pay anything - pay something.

Imagine how many people said that to Steve Jobs when he decided to charge for mp3. Or to the founders of Netflix, Spotify etc ...

I know it is late but since the thread appeared again in my watchlist I just come across your post, dunno how I missed dit earlier

Steve Jobs decided to charge the ones that were already paying. People were buying cd well before mp3 and audio tapes before that, what BitTorrent is trying to do is the opposite.It's like creating an acorn farm with the plan of selling it to squirrels and at the same time paying some squirrel a referral share for every squirrel that comes and pays for the acorns.

I know there is this myth that pirates spend more money on stuff, fake numbers coming from TorrentFreak but the reality is that the ones that get stuff for free are nor happy paying even a few cents for something. I've already told you I saw the stats of a movie sharing website, those people would not click anything, would not donate anything, would not support the website for a single minute. To simply believe that with such a userbase you are going to milk some revenue you're mistaken!

[royalfestus]

It took just 16 min to sell off on binance. This fast fund raise by some projects at the beginning of the year is giving a good sign to the space, I just dont know after I have enjoyed such a long period of free file sharing I will be willing to pay now. This is the only thread that gave any information of the project, a project of such influence in the early years of bitcoin, could raise money without any contribution from the forum, no announcement page either.

[wendy107th]

2 to 3 sat price there confusing everyone dont buy at 30 sat 

[esetop01tryba]

BitTorrent, which pioneered peer-to-peer technology for sharing files on the internet, is creating its own cryptocurrency.

Issued by the Singapore-based BitTorrent Foundation, the new BitTorrent Token (BTT) will run on the tron protocol, developed by Tron, which acquired BitTorrent in June of last year. The file-sharing software company claims to have 100 million users.

Justin Sun, founder of Tron and CEO of BitTorrent, said in a press release:

“In one giant leap, we can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”

The plan to issue a token follows the announcement of Project Atlas, which BitTorrent revealed at the end of August. Project Atlas is a new iteration of the P2P software. It provides users with a way to spend and earn crypto while sharing files.

Under the existing system, users need to put a file on the system in order to download something. As Sun explains in a YouTube video, the user has no incentive to keep a file on the network once they have finished downloading.

With BTT, users can pay someone with the file to send it to them and they can pay for more bandwidth, so it downloads faster. With the prospect of payment, file hosts have an incentive to keep more files available to the network, making it more likely that a given user will be able to download something they want more quickly.

Read more: https://www.coindesk.com/bittorrent-is-launching-its-own-cryptocurrency-on-the-tron-network

As far as I know BitTorrent is not as popular as before, but the fact that it will be sold not through ICO but through IEO is of interest. Another is a big plus that the IEO will be held on the exchange Binance. Let's see what happens)