You say you can do this in a week, but you'll run into unexpected programming hurtles. You sound like you know your stuff but don't make the mistake of over-promising deadlines because this community will verbally tear you to shreds. Look no further than SJCX to see how coming up with new Proof of Work mechanism based of atypical things like storage and file sharing is really difficult. You have to come up with entirely new proof mechanisms from scratch and it's not as simple as it sounds. Your best bet would be try and network in the community and meet other programmers who have the time and willingness to take this project on with you because ICOs are not fair to the community (you could simply honestly hit brick walls in your abilities that you didn't foresee, even if you're honest). Don't bother releasing the coin before you're close to a working prototype unless you want to just make another shitcoin scam but frankly you'll only make a few thousand dollars these days pulling that crap. I'd give this project a couple months deadline if you know what you're doing and have a handful of guys working with you. Good luck.
The plan is a couple of months, I was just making an example in the OP. I'm not trying to give any hard deadlines yet as I'm still in the preliminary stages. I'm also not looking to start an ICO. I know I may run into walls, I love walls, I always come out the other side having learned something.
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. 
No reason to pull funds from the users, thats what ads are for. 
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.
