It could also be overtaken by other tokens that appear to have more utility, such as Ethereum (CCC: ETH-USD), or even VeChain (CCC: VET-USD). This is because the technology has been around for a good while yet it has not yet caught on in a massive way. What to Do With BitTorrent Tokenĭespite how cheap the token is right now, in the sense that it is still trading below one U.S. However, the site does list three global broadcasters that have used BitTorrent or are considering using it. Wikipedia provides the names of some companies, but none of these are major corporations that any typical internet user would recognize. This is the hallmark of useful blockchain technology. The problem is that no major corporation is using the BitTorrent blockchain technology. He also did a YouTube interview with The Scoop to try and change his reputation. The idea is to counter the awful impression that The Verge article has left on BitTorrent. Sun, who is only 30 years old, has started doing interviews. As CEO of BitTorrent and Tron, which is the parent company, Mr. This Verge article casts a long, deep shadow on the BitTorrent token. Anyone interested in buying the BitTorrent token should read the article. Moreover, when Sun took over, The Verge claims his idea was to “pump” the BitTorrent token to make himself wealthy.Īfter all, Justin Sun, a protégé of Jack Ma, of Alibaba (NYSE: BABA) fame, graduated from a school started by Ma was used to being called a “whiz kid.” The Verge article, based on in-depth interviews with 18 insiders at Sun’s company, goes into quite a bit of detail on Sun’s character. The company took a “laissez-faire” attitude about the piracy aspect. It used a decentralization technology on the internet to do these large downloads using numerous users or nodes. This includes pirated music and movie files. Another allegation is that he “embraced” BitTorrent’s association with piracy schemes.įor example, BitTorrent technology is notorious for facilitating the downloading of large files on a peer-to-peer basis. It was entitled, “Hype Man of the Century.”Īmong several of the allegations: he plagiarized the white paper for BitTorrent. The Verge published a deeply skeptical article on September 20, 2020, about both Justin Sun and BitTorrent’s development under him. After that, in 2019, the company launched BitTorrent token in 2019, to great fanfare. He apparently paid $140 million for the company. It was later acquired in 2018 by a Chinese uber-millionaire named Justin Sun, through his cryptocurrency company, Tron.
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