BitTorrent has been around since 2002 and it’s one of the most popular software still in use today. It is essentially a peer-to-peer file transfer application that breaks down large files into small pieces and distributes them via a network of computers. This allows downloads to be completed faster than using traditional methods. After using Bittorrent for many years, it has been hard to find any real disadvantages. BitTorrent is not the most secure application, which is the only disadvantage I have found. It does not encrypt your data, so anyone could be viewing the supposedly personal files that you are sharing with people you trust. I don’t mean to scare you, but it’s true. It’s also hard to know how much money goes into the company and how they spend their money. The owner of BitTorrent is Bram Cohen, who is a very private man who rarely gives interviews and never talks about plans. The price of BitTorrent is going up, however, and a few people have asked me why, so here’s my attempt to explain.
The rise of BitTorrent:
While BitTorrent has been around for over a decade now, originally run by Cohen and the original developers, it grew tremendously since then. It’s no wonder why since it’s such a great application for users like myself who prefer the slower download speeds of Bittorrent over more popular applications like iTunes or Netflix. The best way to compare it would be to say that in 2002 you could purchase as much storage space on your computer as you wanted (not even real storage space; just in bytes!) for $25 a year. Nowadays, you can’t even buy a gigabyte worth of storage space for under $5 a month. This is why I think BitTorrent has been so successful.
The sudden price rise:
In recent years, BitTorrent has seen a massive price rise and it’s simple to see why. The name BitTorrent alone is enough to scare some people off due to its association with the severity of illegal downloads. But it’s not what you think; most people use BitTorrent for legal downloads, especially now that there are many streaming sites like Netflix and Spotify, which makes slow download speeds less of an issue. But even if you use it for illegal downloads, it is still a useful piece of software in the long run. It’s just hard to get people to understand that while BitTorrent may be illegal, it also saves them a ton of money. In the United States alone, citizens pay over 411 billion dollars a year for television content. That makes up over half of all cable costs.
BitTorrent launches new BTTC token
BitTorrent has launched a crypto-currency (basically a virtual currency that can be used as payment for some products) through the BTTC token. There was no ICO, however, a total of 20 million BTTC tokens were created, and they are still accepting investors. The thing I like most about the BTTC coin is that it doesn’t have any ICO money behind it, but it can still be used to trade on various exchanges and websites. There are also many other features I enjoy about BitTorrent, like the fact that you get rewarded with tokens (similar to Bitcoin) in whichever file you are seeding (uploading) at the time your ratio goes over 1.00. The other feature I love is that they don’t limit the amount of power you use on your computer to support this site.
BitTorrent price prediction: Can the price break out?
However, this is something I’m sure they will address in the future and when they do, I expect it to break out of its current trading pattern. The price is also in a very nice uptrend and looks like it might be headed towards $0.06 by the end of the year. The main question that many traders have been asking themselves is why BitTorrent hasn’t gone up more since it started seeing massive gains at the end of May 2018. As you can see from my chart above, there have been some downward price movements that threw off many people who purchased BitTorrent during this time.
