Tokenizing BitTorrent would fail if users had to buy from an exchange first. Assuming new users don't have tokens, clients could negotiate a short term token loan. For example: > My usual rate is 1 TRNT/Mb per 100 Kbps. For every Mb I give you, you owe me 1.1 TRNT (10% interest)
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Fitting network payments to user incentives is hard! By using a token instead of ETH/BTC, the protocol designer can experiment in early phases and decentralize proportional to risk tolerance. A BitTorrent token fork is reasonable, BTC not. Big reason to consider tokens IMO
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Building decentralized protocols is hard. Historically, file sharing businesses are hard to profit from. I think the fat protocol paradigm is a strong argument for tokenizing BitTorrent, specifically. Launching a protocol isn’t just tech. Network effects require marketing.
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As mentioned, using a token instead of BTC lets you hedge risk while experimenting by keeping the possibility of a fork open You can also use a token to incrementally experiment w/ incentives. Start with a closed network token you can’t cash out then support fiat exchange later
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PayPal scaled past network effects by giving $5 to every invited user. Decentralization liberates, right? Tokens provide a low cost alternative that let you try things like tokenizing BitTorrent and overcoming network effects without $100M in VC funding
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Yeah, you can fork a tokenized protocol and add Ethereum or Bitcoin. Who is footing the marketing bill for bootstrapping your hostile yet philanthropic fork? It’s not about greed driving protocols, it just doesn’t cost $0 to get users.
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I intentionally didn’t cover a few topics: • Scaling blockchains • Decentralized identity and Sybil resistance • Fraud resistance These are what crypto companies will spend years building. I just wanted to share the vision for tokens I think others might be missing
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Is you enjoyed this thread, I also have a blog post on tokenizing BitTorrent.
The post goes into more detail while this thread clarifies and expands on some things I didn’t cover in the post.
Thanks for reading!https://medium.com/@jbackus/what-if-bittorrent-had-a-token-13d62a590aa7 …Show this thread
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5) The BitTorrent work could replaced by
@MineFilecoin 6)why does the arts and entertainment world need to be so fragmented and at the same time the 'power of reach' is centralized. Why not have a network with more organic uprisings of great art...! -
7) Content creators would have to shift to interacting with network, submit content to 'release groups' a All content pulling in value from various ways it 'works' with communities.
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4) But ultimately, the goal would be to let users examine any particular content (film,song, whatever etc) and analyze thr cross-platform data attached to it. -IPFS or Swarm comes into play
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3) I think the best way to achieve this is trying to get existing entities on board to become a tracker themselves. Spotify could be a tracker. Pitchfork could have a tracker. All on same network.
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1) I think this *economy of sharing, sorting, curating, collaging, rewarding...-- art and etc* could be a grand protocol itself.
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2) a) a common 'internet of private trackers' b) ratings network layer. (Think Metacritic. Will create a universal and wisdom of the crowds-like oracle into the quality of said content)
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