Topic: [2019-01-05] BitTorrent Is Launching Its Own Cryptocurrency on the Tron Network - page 2. (Read 499 times)

I've been using torrents for years but I would be willing to pay in some cases. If it meant 1) getting obscure, hard-to-find media and 2) incentivizing uploaders to seed faster so I'm not waiting days for downloads to finish, I would definitely pay something. I'm not sure how much I'd be willing to pay, but I'm be open to it.

People pay for Usenet and private torrent trackers, so it doesn't seem that crazy.

It's not exactly a new thing, platforms like Kickstarter were around for many years already. Sadly, they have their own problems, like scammers who blatantly scam their backers (just like in ICO's), or projects who fail to keep their promises (check out Star Citizen). Also, there's no precedent of successful crowdfunding of an AAA game or a Hollywood-quality movie yet. Crowdfunding is always the risk for consumers, because they are blindly buying something that doesn't exist.


The problem with todays content-creators is that they are too greedy, they all try to create their own platform, which makes it very inconvenient for consumers. Disney and many other producers have pulled their content out of Netflix, for example. So, in many cases people pirate not because they can't afford the price, but because they don't want to deal with all the obstacles.

But content producers will get smart eventually, despite how dumb they are now.


The new model will be something like this: convince people your art/software is good by giving away something for free. Then crowdfund the release of the full product, which is copyright free once it's been funded. And why not distribute it through bittorrent when your profits are getting squeezed like that? It's easy to build bittorrent into webpages, no-one even knows they're using it.

The alternative is to pretend that it's still the 1900's. And complain about how it isn't, essentially. I'm surprised content producers aren't already bored of doing that

I hadn't thought of it like that. That is indeed a big old can of worms.

I presume Tron are going to push legit content on torrents as hard as they can. As it stands that must be a microscopic percentage of torrent traffic and it won't occur to mom and pop to fire up the family client.  

And if these coins are traceable to certain files expect lawsuits to fly at exchanges, and instantly turn off any torrenter considering the idea.

Brutal     

Back in 2011 one of my friends had a movie website that was hosting pirated content and he tried to monetize it by different means. From about 10 000 visitors a day he didn't manage to get a single sale, no matter what he tried to sell through affiliate links.

The only way to pay for the server and bandwidth was to force people through a gateway of links and pop-ups and splash pages.
Of course, Adblock took care of it in the end.

This will turn ugly pretty fast.
Before you had at least an excuse that you were not financially motivated for pirating content, with this one prepare to pay thousands if not hundreds of thousands of dollars if you're caught.

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

I know there's the prospect of earning too but that depends on other freeloaders laying out.

This is also why I'm unsold on micro payments. If something has a micro price it's not going to be that vital to me. I already click away from places that hassle me over ad blocking. I'll click double speed if they want some money to read their three paragraph how-to article about removing the practice grenade I have stuck in my colon.

In a way this is a good news for Bitcoin for two reasons. One - File sharing Copyrighted content for payment has been controversial  for years and we do not want that associated with Bitcoin. Two - Most of these tokens might be traded on exchanges where bitcoins are also traded and that money might end up being invested in other Crypto currencies like Bitcoin.

Let's see how this one is handled by the courts and how many people will be sued for this. 

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