Sounds great! Would be awesome if you could incorporate a reputation system for uploaders (maybe seeders too), it would be good to have an idea of the quality of the torrent we're paying for. It would also be pretty cool to have a way for users to request content. The possibilities here are mind-boggling. I am definitely following this one
I dont think we should have to PAY for content that is already out there for free. When you start paying for shit that you can steal , you mind as well just buy the content in the first place
I'm not saying you PAY for the content, just for the bandwidth usage, you are in essence paying for a fast download. Once you upload to 1:1 you get the coins you spent back.
Unless you download premium content, then the content creator gets paid. You can always make this back by seeding back over 1:1 to gain back the coin that you spend on the premium content. example, you download an independent film that is 1gb in size and costs 5TPB to download. downloading 1gb is going to cost 1TPB but once you seed back 1:1 you gain back 1TPB, once you seed back 6:1 you would make back your original 1TPB and an aditional 5TPB, gaining back what you spend to download the content in the first place. Keep in mind that the content creator can charge less than other services like itunes since they don't have to go through another organization that has huge overhead. This means you could see new release songs come out for 10 cents a download because that is still more than the artist would get selling it on itunes at 99 cents and having most of it taken by the studio and apple.
Looks like ill be rolling in the TPB coins.
But I see what your saying ObscureBean. Basically retention rate of files online. I think thats an age old issue with BT with older files. Alot of old files cannot simply be found because no one leaves their torrent client open with 1000's of files being seeded at the same time.
This is why emule, no doubt being much older, is still used today. It might take a week to grab that 2002 DvD, but someone has it and is sharing it.
I have a few people that have contacted me that want to help on the coin. I'm still looking for more people, I would like to make this a very big project with many people collaborating. I'm considering alternative forms of funding such as getting sponsors to pay for advertising in the OP or future website or hell even in the wallet itself. We can update it monthly and change out the ads or make the wallet pull ads from a central server.