Bittorrent Coin: A Wise Investment Decision?

BitTorrent (BTT) is a TRON TRC-10 cryptocurrency that acts as a transactional mechanism between service providers and BitTorrent clients. It was launched in January 2019 and has since experienced significant price volatility. The price of BTT is currently $0.00000083 with a circulating supply of 932,028.89B BTT. In this article, we will explore the past, present, and future of BTT and answer the question: is it a good investment?

BitTorrent's price history and future predictions

BitTorrent Coin is a cryptocurrency that has gained a lot of attention in the crypto community. The BTT network, together with TRON, shared a vision of a decentralised internet without barriers. This enables content creators and providers to connect and directly earn BTT tokens without any deductions from middlemen or brokers, with no censorship of content.

The year since BitTorrent [BTT] landed on the crypto market has been tough. The crypto has lost about 80% of its initial value since its inception in 2019. In the first two days of trading on CoinMarketCap on 31 January 2019, BTT traded at about $0.0004. However, in February, BTT had a strong start with an increase to $0.0011 per unit. Over several months, the price continued to fall.

On 18 January 2022, BTT reached an all-time high of $0.000003054. However, in 2022, this altcoin saw another downtrend, with its price fluctuating between $0.002 and $0.003. The performance was mainly influenced by broader crypto market movements, BTT’s trading volume, updates regarding BitTorrent Speed, and developments on the Tron network.

BTT ended 2021 with a trading price of $0.0002. The price began to increase gradually afterward, receiving a massive boost from US$0.0005 to around US$0.0129 in mid-February, before falling back. On 5 April 2021, the BTT raised its ATH by $0.0126. In addition, BTT’s fall by 50% in May caused the cryptocurrency to sink as low as $0.002.

Bullish BTT price predictions for 2024 range from $0.00000106 to $0.00000242. If the market turns bullish again, the completion of major project milestones and the integration of BTT can boost optimism.

According to CoinQuora, BTT’s price in 2023 is expected to reach $0.00000400, $0.00001 in 2025, $0.00002 in 2026, $0.00003 in 2027, $0.00005 in 2028, $0.00007 in 2029, and $0.0001 in 2030.

According to CoinPedia, BTT’s price in 2025 could be between $0.00000306 and $0.00000412, with an average of $0.00000200. In 2026, the price could be between $0.00000323 and $0.00000609, with an average of $0.00000466. In 2027, the price could be between $0.00000435 and $0.00000788, with an average of $0.0000611. In 2028, the price could be between $0.00000556 and $0.00000956, with an average of $0.00000756. In 2029, the price could be between $0.00000636 and $0.0000125, with an average of $0.00000943. In 2030, the price could be between $0.00000750 and $0.0000138, with an average of $0.0000106.

Wallet Investors estimate the price forecast for 2026 to rise long-term to $0.0379. The profit is projected to be about +327% with a five-year investment plan. According to Trading Beasts, the highest price planned is $0.000045049, while the minimum predicted value is $0.0030633. Digital Coin Price estimates that BTT might increase to $0,00368548 by the end of 2021.

The pros and cons of investing in BitTorrent

Pros

• BitTorrent is a well-known peer-to-peer communication protocol for file sharing with a community of over 100 million internet users.
• BitTorrent is the largest decentralized file-sharing protocol, with characteristics such as multiple administrative organs, protection of users' identities through random line generation, and a decentralized sharing system with no central entity.
• BitTorrent has a native token, BTT, which is a TRON TRC-10 cryptocurrency. It acts as a transactional mechanism between service providers and BitTorrent clients.
• BTT has the potential to allow creators and users to obtain and spend coins without the involvement of intermediaries, giving new value to contributed computing resources and the transaction process.
• BTT lays the foundation for the future decentralization of platforms that promote transparency, spurn censorship, and reward participants.
• BTT brings blockchain closer to becoming mainstream technology by unifying the BitTorrent peer-to-peer network and the TRON blockchain.
• BTT offers market-driven incentives to users to promote collaboration, allowing for the optimization of BitTorrent Swarms.
• BTT can be used as a payment to get faster download speeds.
• BTT can be staked on DLive, a video and streaming platform that distributes 25% of the donations it receives to users who stake on its platform.
• BTT contributes to improving the BitTorrent ecosystem and targets an extremely large user base.
• BTT offers additional features to the platform's users, providing a way to earn money through sharing distributed content and seeding.
• BTT enables users to download files with higher speed by spending a small amount of BTT tokens.

Cons

• BTT is considered overvalued.
• There is a significant amount of resistance and bear markets that must be considered before investing.
• Most of the turnout for BTT comes from crypto investors, not BitTorrent users.
• The project is under development, and it is uncertain if the BitTorrent team can successfully bridge the gap between the crypto industry and torrent users.
• There is no guarantee that BTT will speed up the BitTorrent network.
• The token's business model is questionable due to the strong clampdown on piracy and copyright infringement by authorities and content management companies.
• The torrenting scene, which should be the main community interested in this project, does not seem to be interested in BTT.
• The token is currently sitting at a high ROI from the ICO price, with a large chunk of the supply held by a group of people who are not associated with the BitTorrent protocol or torrenting.
• TRON foundation and team, TRON community, seed investors, and BTT partners currently hold over 50% of the token and may be waiting to cash in and dump the tokens on the market.

How BitTorrent works and what problems it solves

BitTorrent is a peer-to-peer file-sharing platform that has become highly decentralised in recent times. It was founded by Bram Cohen in 2001 and bought by the TRON platform in 2018. BitTorrent is supported and runs on a high-bandwidth blockchain. The platform is based on cryptographic methods, which are dependent on "zero-disclosure" evidence.

BitTorrent is a peer-to-peer protocol, which means that the computers in a BitTorrent "swarm" transfer data between each other without the need for a central server. A BitTorrent swarm is a group of computers downloading and uploading the same torrent.

Traditionally, a computer joins a BitTorrent swarm by loading a .torrent file into a BitTorrent client. The BitTorrent client contacts a "tracker", a special server that keeps track of the connected computers. The tracker shares their IP addresses with other BitTorrent clients in the swarm, allowing them to connect to each other.

Once connected, a BitTorrent client downloads bits of the files in the torrent in small pieces, downloading all the data it can get. Once the BitTorrent client has some data, it can then begin to upload that data to other BitTorrent clients in the swarm. In this way, everyone downloading a torrent is also uploading the same torrent, which speeds up everyone's download speed.

Importantly, BitTorrent clients never actually download files from the tracker itself. The tracker only keeps track of the BitTorrent clients connected to the swarm.

Users downloading from a BitTorrent swarm are commonly referred to as "leechers" or "peers". Users that remain connected to a BitTorrent swarm even after they've downloaded the complete file are referred to as "seeders".

BitTorrent clients reward other clients who upload, preferring to send data to clients who contribute more upload bandwidth. This speeds up download times for the swarm as a whole and rewards users who contribute more.

BitTorrent consumes 12% of total Internet traffic in North America and 36% of total traffic in the Asia-Pacific region, according to a 2012 study. It has gained a reputation as a method of piracy, but it also has legitimate uses. For example, Blizzard uses a custom BitTorrent client to distribute updates for its games, including World of Warcraft, StarCraft II, and Diablo 3. People can also use BitTorrent to distribute large files to significant numbers of people without paying for web hosting bandwidth.

BitTorrent, as a cryptocurrency, has experienced significant price volatility since 2020. The price of BTT tokens can be influenced by several factors, including the overall cryptocurrency market condition, BitTorrent adoption, BTT utility, and regulations.

How BitTorrent compares to other cryptocurrencies

BitTorrent (BTT) is a TRON TRC-10 cryptocurrency that acts as a transactional mechanism between service providers and BitTorrent clients. It was launched in January 2019 by BitTorrent Inc. through the Binance Launchpad. BTT was created to be a decentralised peer-to-peer (P2P) file-sharing and torrent platform.

BTT is a utility token that powers popular decentralised applications (dApps) and projects. It is based on the Tron blockchain. Decentralised applications such as BitTorrent Speed, BitTorrent File System, and DLive are all powered by the BTT token.

The BTT network, together with TRON, shared a vision of a decentralised internet without barriers. This vision enables content creators and providers to connect and directly earn BTT tokens without any deductions from middlemen or brokers, with no censorship of content.

The BTT token can be used as a payment to get faster download speeds. On the other hand, traders and investors can stake their BTT tokens in various crypto platforms to earn more tokens while holding the token.

BTT is available for trade across prominent cryptocurrency exchange platforms such as Binance, Okex, Huobi, Bitfinex, KuCoin, and Bithumb, among others. Its most active exchange with the highest volume of trade is PancakeSwap.

BTT has a current circulating supply of 932,028.89 BTT. The total supply, as stated in its whitepaper, is 990,000,000,000 BTT. 6% of that total was available in a public token sale, 2% in a private token sale, and 9% in a seed sale.

The live BitTorrent price today is $0.000559 USD with a 24-hour trading volume of $7,574.07 USD. The price of BTT has experienced significant volatility since 2020, with the market showing uncertainty. The price dropped to lows of $0.0001 in 2020 but recovered well in 2021, reaching highs of $0.007 amidst the overall crypto bull run.

In terms of market capitalisation, BTT is currently ranked #4799. The circulating supply is not available and the max supply is not available.

Overall, BitTorrent has a unique value proposition as a decentralised P2P communications protocol and its native token, BTT, has seen aggressive growth since its launch. While the bear market dampened sentiment in 2022, the completion of major project milestones and integration of BTT can boost optimism if the market turns bullish again.

The future of BitTorrent and its potential for growth

BitTorrent (BTT) is a TRON TRC-10 cryptocurrency that acts as a transactional mechanism between service providers and BitTorrent clients. It was launched by BitTorrent Inc. through the Binance Launchpad in January 2019. BTT was created to provide a secure network and file-sharing platform for its users.

The future of BitTorrent looks promising, with its price predicted to reach $0.00000242 by the end of 2024 and $0.0000138 by the end of 2030. In the short term, BTT is expected to trade between $0.00000106 and $0.00000242 in 2024. These price predictions are based on the assumption that the market will turn bullish again and that the BitTorrent project will continue to gain traction and adoption.

The BTT network, together with TRON, shares a vision of a decentralized internet without barriers. This enables content creators and providers to connect directly and earn BTT tokens without any deductions or censorship. The BTT token has a market value, and users can easily exchange their tokens for cash or other cryptocurrencies on top-rated exchanges.

The BitTorrent Speed announcement in 2019 rewarded users for seeding, and the BTT tokens are given as a reward for engaging in the seeding process. This has generated a network effect, with more people joining and saving files on the BitTorrent network. As the user base continues to grow, the price of BTT may potentially rise above $0.0039 or higher.

In terms of price prediction for the next few years, BTT is expected to reach $0.00487 by the end of 2023 and $0.01 by the end of 2024. By 2025, BTT's price could race up to $0.001, and by 2026, it is predicted to reach $0.002. These price predictions are based on the assumption that the platform will continue to gain adoption and that the overall cryptocurrency market will remain favourable.

The BitTorrent protocol has revolutionized the way files are exchanged over the internet, providing one of the cheapest alternatives for publishers and creators who want to share large files. As the use of the internet and digital content continues to grow, the demand for efficient and cost-effective file-sharing solutions will also increase, positioning BitTorrent for potential growth and adoption.

Frequently asked questions