The Pirate Bay (TPB), which is a popular peer to-peer file-sharing platform, seems to be the best place for Bitcoin and other cryptocurrencies. The sites have been targeted by regulators, copyright owners, companies, and regulators all over the globe for many years.
Despite this, the platform remains operational with millions of dollars in Bitcoin and Litecoin as well as Ethereum donations. These are the coins available for contribution along with their addresses.
According to Torrentfreak, the Pirate Bay has a ‘consistent supply’ of Bitcoin donations. According to Torrentfreak, the Recording Industry Association of America reported in 2013 that these costs have averaged about $10 per day since 2013. The article states that the platform was the first to accept Bitcoin donations in that period. A BTC was approximately $125 when the option was introduced. This was a concern for regulators and the RIAA.
This option provided more flexibility to the platform, allowing it to grow more censorship-resistant. The website allows users to share multimedia files, books and comics.
At its peak, the Pirate Bay produced approximately 5.5 BTC per hour. However, this was immediately after it added BTC donations. The rapid rise in its price has caused them to drop. A quick scan of the Mempool shows that it now has $145.77 in Bitcoin (0.002 BTC at the time of writing).
Torrentfreak predicts The Pirate Bay could be’sitting upon a large amount cryptocurrency today’ if these donations add to the fact the network has kept its BTC funds intact since the beginning.
Additional information from Torrentfreak shows that The Pirate Bay received approximately 126.64 Bitcoin in donations during 2013 and 2015. Site added 8.21 BTC to its total in 2016, adding 1 BTC since the cryptocurrency’s 2017 all-time high of $20,000 in 2017.
The investigation revealed that The Pirate Bay may have $6,8 million worth of BTC donations if they kept their funds. This has translated into around $2,000 per day in donations since 2013. This deserves a lot of praise for the people behind the project and the community that works to improve the platform. It also highlights Bitcoin’s ability support some initiatives under government or regulatory pressure.
It is possible that the platform would have been shut down if it had not accepted Bitcoin as a payment method. Bitcoinist has revealed that OnlyFans, a content platform was subject to a lot of pressure by banks and payment processors to limit sexual workers. The Pirate Bay has been searching for an easier way to get money. It released TPB, its native token.
Although the token is yet to gain traction it could make it easier for moderators, partners and users to earn and to give rewards. Bitcoin trades at $48,915 as of the writing, an increase of 1.2 percent over the daily chart.
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