"BitTorrent...was acquired by cryptocurrency firm Tron last August for $140 million in cash. Today, we’re seeing the next logical evolution, with BitTorrent announcing its own cryptocurrency token users can buy, sell, or trade to get faster download times"
crazybrker4 - 5 years account age. 125 - 250 comment karma.2 weeks ago
How would this work from a business standpoint?
Illegal/free downloads: Say you want to download the latest version of Kali Linux. On 100mbit connection, I download near the max speed already. Would I pay to make it go faster?... Probably not. Now that I have the file, I'd still seed it for free and maybe some people might give me a few BTT for my work. I just don't see the massive influx of money into this system. If someone was downloading for free yesterday, do you think they would be willing to pay for it tomorrow. Illegal IP torrents fall in this category too. Except, you are not only stealing, you are profiting as well. I think the RIAA and others will really want to hunt you down. No more simple letters in the mail.
Itunes/Amazon digital media: Now this seems practical. User buys a song for $1, traditionally $0.50 goes to the creator and the rest goes to the hosting site (BitTorrent in this case). We could make some spare change from each digital media that host and seed but BT needs yo implement some DRM or something,
How do you all think this will work? We can't all just host stuff that doesn't belong to us and get rich. The money has to come from somewhere.
The title and "innovation" tag really drive home how uninformed most of the users of this forum are. BitTorrent releasing a shitcoin to monetize something that used to be free is not good news for the crypto-space.
Upfiring already does this with a better use case (encouraging seeding of old content or as a distribution platform for content creators). Upfiring has a great beta already out and will be releasing their full product super soon.
Oh look, another useless token and money grab. Never forget that Tron plagiarized their whitepaper. I remember reading that piece of shit whitepaper the day it came out, and I remember thinking at the time that it was one of the worst whitepapers I had ever read, and I've probably read over 100 whitepapers. Why anyone would buy TRX or this BitTorrent coin is beyond me. No wonder the general impression of crypto is that it's full of outright scams.
I don't hold any Tron, but there is actually a bit of genius to the idea depending on how it is implemented. Like if they implement things via staking in some way, making it to where you are essentially saying you will act as a seeder for some product as long as you receive a financial incentive to do so, then it could really aid with hosting content on a decentralized peer to peer system....like the current use case is mainly pirating, but it could just as easily be hosting web-content that instead of being received from a central server has its resources scattered across multiple seeds that are remaining active for the financial benefits provided by BitTorrent...like this could be the first step in fully decentralized websites that don't store content on a centralized server...and fuck depending on the websites implementation could even aid in ensuring privacy of sensitive information as it could be designed to partition user data so that different seeders are the ones storing each bit of that information.
If you want to see what it's like, Upfiring is almost done with tokenized torrenting
It's a dev version, but it works