BitTorrent: Price Prediction 2021! Should You Buy BTT?

hope everyone's doing amazing my name 
is eq and welcome to Stonkaholics!   welcome back everyone it's been a long time i know 
as you can see i have a whole new backdrop behind   me decided to pack my stuff up move across country 
with the lady and live on a farm for a little bit   to disconnect from everything i'm a city boy 
born and raised from miami so i lived in denver   as well and i was ready to get out and focus on 
my trading cut my expenses do this and that and   give my dogs plenty of room to run around and have 
fun if you hear a lot of noises in the background   just know that it's them walking around and 
i'm sorry they got lots of paws and wood floors   so that's fun before we get started wanted to let 
you guys know that we did open our vip discord   group through patreon if you wanted to sign up 
for that here's the link right now it's only   five dollars a person per month we only have 20 
spots left at five dollars once those 20 spots   are filled the next group is going to be at ten 
dollars a month and that's 50 people so every   50 people that sign up for the vip discord group 
the price is going to go up five dollars a month   so it's like a stock if you want to buy it 
early and you think there's value and you   want to hold on to that you want to do that now 
because eventually you're going to be paying   or could potentially be paying four times as much 
per month than you would be right now if you were   to sign up so take a look at that link check it 
out join our public discord i'm leaving it open   for free for the next week so you guys can try 
it out see what we're talking about how it feels   got a taste of our community see 
if you want to join our vip group   five dollars hopefully is something that you 
will be easily making even on a daily basis   on some of these coins some of our members have 
made upwards of 65 000 in the last four months   so i think it'll be worth it on this episode we're 
gonna be covering bittorrent the hot topic and of   course we're gonna be throwing price predictions 
and all that stuff getting deep into the white   paper and essentially everything about bittorrent 
if you could subscribe to the channel throw a like   on this video do anything like that that'd 
be greatly appreciated and let's get rolling   all right let's get into it and sorry if you 
guys hear a bunch of click-clacking in the back   we got three dogs in the new house and we got 
wood floors so it might get a little loud but   it's cool we're gonna work through all this 
so we're gonna go with the hot topic of the   month right off the bat sorry guys for the long 
delay i had to move cross country and reset up   my office and do this and that it took pretty good 
amount of time it was four days worth of driving   almost a 30 hour trip but we here so let's 
start off with a heater right off the bat   bittorrent we're going to glance back at this 
whole coin let me refresh this make sure it's   still 20 okay so we dropped a little bit to 24 
now but this is a hot coin right now you can see   bittorrent rank number 24.

Got a market cap of 
5.8 billion it has a total supply of 909 billion   and a circulating supply of 659.9 billion and you 
can see it's currently down the other day it did   go up to one cent right now it dropped down a 
little bit back to under ascent and right off   the bat you can see tron on the contracts this 
is one of the reasons why bittorrent's blowing   up but we're going to dive into it deeper so 
bittorrent is a popular peer-to-peer file sharing   and torque platform which has become increasingly 
decentralized in recent years it was originally   released in july of 2001 i remember using it 
back in the day to rip all sorts of crazy stuff   bittorrent was purchased by blockchain platform 
tron in july 2018 so this is one of the older   coins that did survive that two 2017 crash but the 
fact that they're making improvements and adding   new things in the future to jump into this 
bull market is what made it very interesting   and what got it back on track so since its 
acquisition bittorrent has added various   new tools with a dedicated native cryptocurrency 
token btt that was released in february 2019 btt   was launched on tron's own blockchain using the 
trc10 standard i love using the trc coin to be   honest like when i send myself usdt or if anyone 
is sending me usc's here whatever the situation is   i usually tell them to take it off of 
the erc and put it on a trc because the   gas fees are a lot lower and it's faster a 
lot of times i've gotten that money within   you know two three minutes versus i've had to 
wait 30 minutes or so on the ethereum chain   before so according to its official literature 
bittorrent is currently the largest decentralized   peer-to-peer communications protocol in the world 
so the original founder of bittorrent is bram   cohen a developer and entrepreneur who himself 
has become well known in the cryptocurrency arena   he explained that he designed bittorrent to assert 
the dated entertainment industry which has made   obtaining material slow and expensive the 
platform since its creation has seen a ton   of legal battles with cohen maintaining that it 
doesn't break any copyright laws and allowing   users to share files such as music and movies 
among themselves it was pretty important back then   to make sure that they were covering their asses 
because that was around the time of limewire kazaa   all of that crazy stuff that was coming out so the 
fact that they were able to protect themselves and   continue their blockchain platform is great it's 
a lot of positive news for btet then in 2018 tron   completed its acquisition of bittorrent bringing 
bittorrent under the control of justin's son   who's a beast son is notorious for his plugging 
of beltron as a cryptocurrency and his blockchain   technology bidding 4.5 million dollars at a 
charity auction to have lunch with warren buffett   and discuss cryptocurrency with him so yeah 
if anyone is in tron you know that they have   a hype train like ada they're just a little bit 
younger per se tron is also behind the addition of   cryptocurrency to bittorrent as the btt token was 
released on tron's blockchain the move forms part   of tron's efforts to add further decentralized 
features to the platform so bittorrent was   already making waves to disrupt the legacy 
entertainment industry and since its acquisition   under tron bittorrent has expanded its user 
appeal to those interested in decentralized   solutions and cryptocurrency as well as its 
own user base amongst added features are   bittorrent speed which uses the btt token 
as part of its operations bittorrent has   also branched out into paid services offering 
several premium versions of its platform which   include vpn capabilities and ad-free browsing what 
really caught my attention which i think was in   january this came out or february btt was adopted 
by blizzard dota 2 facebook netflix twitter google   lionsgate d live and many others including cardano 
and ada when i heard all of that news that was   when i knew this coin was going to be blowing up 
if you've been in our server looking around our   discord group you've seen a couple people have 
been making massive gains almost 1700 percent   since january or february so btt has been treating 
us well so we can definitely go over some of these   use cases too i think this is important to 
look at and so you can see what's going on   with btt and why it's so valuable as a coin 
that is infinite because a lot of people are   worried about investing in infinite coins because 
it's not finite like a bitcoin where it runs out   and it's like a gold commodity this can just be 
continued to be made and burnt and made and burnt   so bittorrent speed is available as a feature of 
bittorrent and utorrent web as well as utorrent   classic with bittorrent speed enabled downloaders 
will have the option of providing tokens to   uploaders in exchange for faster download speeds 
so basically you can cut the line and get faster   speeds if you have btt tokens sitting around and 
you're willing to spend them so if you wanted to   set that up and enjoy faster download speeds you 
would enable your wallet which is a btt wallet   or a utorrent web or a classic it'll be in btt 
token balance when you're downloading torrents   the bittorrent speed automatically bids btt to 
other users for faster speeds just use the torrent   program like normal there's nothing else you need 
to do when a torrent file finishes down this is   the big part right here is that you can earn bgt 
by using their platform and you're essentially   staking by using the program which is huge when 
a torrent file finishes downloading you can   automatically earn btt by seating seating means 
that other users can download that file from you   so when those users actually do download those 
files you're getting paid out in bittorrent   the integrated wallet allows for secure storage 
of your btt which you can send to other wallets   i'm definitely going to be checking this 
out in the near future because i know the   bittorrent isn't going anywhere so you can see 
bittorrent web is going to be your webtorn client   that makes it easy to play files while they 
download bittorrent classic is a very tiny   desktop client with advanced features for 
expert users and then you have the user web   which is a web torrent client that enables fast 
downloads of any type of file going into coming   soon is their file system btfs is a protocol 
and network implementation that provides a   peer-to-peer mechanism for storing and sharing 
digital content in a decentralized filing system   yeah it sounds complicated but let's dig a little 
deeper on this traditional file storage systems   have many disadvantages including centralization 
or control by a single entity the ability for   governments to censor higher costs and low fault 
tolerance btfs is a decentralized file storage   system supported by millions of bittorrent user 
nodes by running on the blockchain which has a   delegated polistic method of processing blockchain 
transactions btfs addresses these limitations   btfs represents the first decentralized storage 
system that can be used by d apps developers and   then soon enough btt is going to be introduced 
into the btfs ecosystem and it's going to   incentivize a fair and abundant file system so 
that's going to be another huge push-up for btt   going into some of the other apps and 
stuff that bgt is on like dlive which is   the streaming community so do you live and 
they're going to be paying subscribers and   users with btt coming into the near future so 
if you're getting millions of views they're   going to pay you out in btt instead of dollar and 
this is a big part that i wanted to come down to   on purpose you can see there's a massive list of 
exchanges and wallets that are already supporting   btt all the big companies are on it and now 
you have the facebooks and everything like   that jumping on board so so this is where you 
can see that the protocol is used by netflix   facebook google twitter lionsgate and d live 
you can see they have 200 million wallets over 2   billion users and over 100 million mau the world's 
biggest distributed network powered by btt you can   see all these other people that are talking about 
it you had vitalik buterin from therium calling it   a metagame success blizzard entertainment came 
out saying that they're expecting bittorrent   to revolutionize the entire gaming industry online 
you have charles hoskinson from ada and cardano   talking about scalability and if that there 
are any examples of scalable protocols it's   called bittorrent you have tom cook from 
facebook system saying that bittorrent is   a super duper fast program that allows them to 
alleviate a lot of scaling concerns they've had in   the past so bittorrent is not going to be going 
anywhere anytime soon this thing is a monster   we'll let some more of these names roll through 
when i move this but all in all we're only seeing   the beginning of bittorrent in my honest opinion 
as someone that's making videos and things like   that i'm definitely gonna be looking into this 
and seeing if i can throw some of my stuff   on bittorrent so i'll be letting you guys 
know then i'm going to dig into the white   paper just a little bit leave this on here 
so you can have some fun looking at this   if you want to see the white paper is pretty 
standard and basic but you can see tron right   at the top as the world's largest decentralized 
ecosystem huge huge huge but through the white   paper of bittorrent it essentially facilitates 
the exchange of files between untrusted parties   its primary limitation is that collaborations 
between parties using the protocol cannot persist   over time inhibiting the exchange blockchain 
technologies allow for collaborations between   untrusted parties to persist over much longer 
periods of time bittorrent has the ecosystem and   expertise necessary to integrate blockchain 
technologies into the bittorrent protocol   doing so would eliminate the protocol's existing 
flaw as well as open up a new borderless economy   and exchanging value for computing resources on 
a global scale to accomplish this tron foundation   and bittorrent foundation are introducing 
a new cryptographic token called btt   along with an extended version of the bittorrent 
protocol together the token and extended protocol   will create a token-based economy for networking 
bandwidth and storage usage the initial entry   point is to introduce token-based optimizations 
to the existing bittorrent protocol that's going   to be providing a way for value of the shared 
bandwidth to be captured by network participants   the long-term vision is to broaden the usage of 
the bittorrent protocol far beyond current use   case by providing a distributed infrastructure 
platform to a third-party app developers creating   the foundation for the decentralized web so 
this might be internet 3.0 that everyone's   been talking about which would be insane if 
you're a part of and you know that's going   to blow up and at that point this thing can have 
and hold a massive market cap which is what we're   going to be getting into a little bit later 
so to find up here that has a file or portion   thereof appears either announced to a tracker 
server that keeps track of which peers have   which files available or find them via the dht a 
distributed database of peers through this process   all peers are naturally segmented into swarms 
of users with every user in each swarm having   a common interest in exchanging pieces of a 
specific file before an exchange begins files   are cut into pieces aka sharding clients advertise 
which pieces of a file their user has available   and those pieces are uploaded by users who 
have them and download by users who need   them cryptographic hashes or info hashes of the 
pieces are used to verify that the pieces being   sharded are the pieces that were requested the 
more pieces appear received from another parent   exchange for the pieces sent the more productive 
a peer-to-peer interaction is considered to be   the most productive piece exchanges are rewarded 
with further pieces and the clients with the least   productive exchanges are deprecated disconnected 
or banned once a user has completed a download   they may allow their client to continue to 
upload pieces despite no longer needing any   download in return this is called seating 
the default for most clients is to see to   other downloaders but this activity however 
is entirely altruistic there is no economic   penalty for users closing their bittorrent 
client once the download has finished so as   we get deeper into internet 3.0 and all these 
big companies are throwing down on bittorrent   we're gonna get to the fun stuff we're gonna start 
with some charts so you can see we now had a nice   fat impulse move on the daily chart going from 
essentially 0.001 all the way to almost almost   5.0 which is insane had a nice little 
consolidation here which we can talk about later but the point i want to make is when you see 
these massive wicks on the top especially on   a daily chart this is usually a sign that you 
might see some sort of retracement coming soon   so this peaked out on the rsi 
on the still rsi was overbought   and on the oscillator it went super high this 
forced a little downtrend brought price all the   way back down to .007 under one cent now 
we're starting to see another little push   the big thing that i'm seeing right now is that 
we are getting support on the 70 rsi and we are   getting into the oversold area on the stow rsi and 
the oscillator has already turned down into the   bearish side and so all of this is looking ready 
to start turning back up which is a great sign   now as a long term mind you these plays right 
here take a long time to unfold you can see   from where i'm gonna put this we'll call it 
from here one two three four five six seven days   eight days essentially if i wanted to throw afib   from the start of the move 
say from here up to here from a daily standard we hit the perfect 6180 
golden ratio on our retracement and started   making our way back up from this style of 
impulse move the next prices we can see   go all the way up to two cents from where 
we are so anyone that's throwing a nice   margin trade let's say you could 
be making a lot of money right now   if you play this the right way make 
sure you're buying it at the right times   moving on to the four hour chart we 
can see we had a little retracement   we're still playing within this 
perfect golden ratio number even if i wanted to slide this up 
let's say to this impulse move you   can see we found our first initial 
support pull this out a little bit if i would have slid that up because 
the four hour chart you can see that   there was a little hole here we 
had a little consolidation per se   so a lot of people will say hey push it to the 
impulse move which started here and climbed you   can see on this chart we had a nice retracement 
land at the 7860 which is common for large impulse   moves and at the same time we hit the 50-day 
ema and it's holding support which is great all in all i am looking kind of bullish on 
this because you had a bounce on the rsi   plus and the stow rsi has pulled down 
from the overbought area and i like to   make my moves on anything that comes 
down and pulls back up around the 50.   that's where i usually see a lot of big 
impulse moves you can see here it did start it started essentially at the bottom of 
this line and created a nice impulse move   we're also going to want to look 
at this since we're looking at that   you want to make sure that 
we're breaking this double top   right here because this is a potential sign of a 
retracement incoming but if we can break this and   hold support that will give btt a lot of room to 
grow this is a crypto cap excluding bitcoin but   you can see we're heading into the overbought area 
right now so it could be a possible retracement it   is early in this candle's life but we are seeing 
a nice bottom wick i want to see this break over   essentially i want to see price get over this 
point right here breaking all the wicks on top   when i see that then i'm probably going to be 
putting more but for the time being i'm waiting   to see what market cap does because that's going 
to dictate essentially what bittorrent is going   to be doing so we're just going to take a quick 
look at this hourly just to see what can happen   you see there is plenty of space on the stow 
rsi that this can impulse over in an hour and   hopefully sit on top and that will barely 
affect this four hour it'll still be within   this range so right now we're kind of hoping to 
see a nice impulse move in the next couple hours   now based off of this move 
you can see price can go   just a little bit under two dollars which is 
going to be a major psychological resistance point   if i'm going into a short-term trade right now 
let's say i'm going to be taking a partial profit   here probably another partial profit here and if 
it decides to go a little higher another partial   profit up top before this skyrocket comes down 
anything that looks like a skyscraper on the chart   and you see a nice little antenna on 
the top that's usually a good sign   so you'll want to check it out because 
it might be coming right back down   and the fun part that everyone loves is the price 
prediction long term for bittorrent now if we go   this has already reached top 10 so let's say 
because bittorrent i think did reach the top   10 at some point during this massive push 
let's say for example it wanted to get into   this number seven spot and let's say get to 16 
billion that's a 10 billion dollar market move   so even if this was to let's say four times move 
that'll be 24 billion and that'll put it right in   this little group yeah i think it can pass these 
just because of the scalability of the project   i think it's something that can come up 
in here in terms of market cap honestly   i'm thinking i can compete with these guys for 
market cap just because of what it's going to   be producing once more people get involved 
with it and you're talking about netflix and   all these massive companies getting involved 
who knows bittorrent might even potentially be   the one that hits 100 billion before the rest of 
these do so i'm definitely keeping a close eye   on bittorrent i think that this one can definitely 
four times if it wanted to and if it really wanted   to long term with all these projects it could 
ten times and you're getting massive massive   gains on something that's not even worth one 
cent right now that about wraps this up for us thank you guys so much for watching 
this episode if you didn't get a   chance before please subscribe to the 
channel throw a like on the video or   dislike if you didn't like it if you 
got any questions throw some comments   in the comments section and please make sure 
to check out that vip patron for five dollars   a month before price doubles and triples and 
quadruples on you catch you on the next video

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