In mid-May, the popular and perhaps the biggest torrent tracker on the internet, The Pirate Bay, mysteriously revealed a new cryptocurrency called the piratetoken (TPB). The token has seen a 20% increase in 30 days and following the silent launch, the torrent tracker website explained that the new pirate token is a soft launch for a host of ideas.
Naughty torrent tracking website launches BSC token via Pancakeswap
Looks like The pirate bay you are using Binance Smart Chain (BSC) with a new token called piratetoken (TPB). The Pirate Bay is a web portal that hosts an online index of digital content in various formats. Basically, the site allows users to publish torrent files through Bittorrent peer-to-peer file sharing network.
The web portal founded in 2003 by the Swedish think tank Piratbyrรฅn has been controversial as users share copyrighted software and entertainment media. Despite the founders getting arrested and all the trouble over the years, The Pirate Bay is the longest running torrent tracker on the internet.
Like Bittorrent, when The Pirate Bay official site is down, there are a host of mirror sites available. The torrent website is ranked 1696 among the most popular websites globally, according to Similar web statistics. In the US, The Pirate Bay ranks at 1,737 and each month the web portal receives 26.98 million unique visitors.
Last May, after being inactive for two days due to a DDoS attack, The Pirate Bay reappeared with a laser-eyed bunny logo at the top of the home page. The bunny icon, if pressed, redirects the visitor to the decentralized exchange BSC (dex) Pancakeswap. The dex Pancakeswap platform will warn the user (as it does with each token) to make sure they check the contract address to verify the authenticity of the token. Data from bscscan.com shows that piratetoken (TPB) has 100 million coins and more than 500 unique addresses contain the token.
As soon as the token concept leaked to the public, the coin gained real-world value and trading volume under the radar. The largest pair of coins on Pancakeswap is BNB and there are no popular coin market cap aggregators that track this coin. Some websites host a small fraction of the market data in the BSC token such as livecoinwatch.com And some others.
'Lots of ideas, lots of wow, so cool'
Currently, piratetoken (TPB) is trading at $ 2.82 per token, giving the project an overall market valuation of around $ 282 million. Despite the coin receiving immediate attention, the token was deemed questionable and no one was sure if this BSC coin was created by The Pirate Bay team. Even the popular torrent-focused news organization torrentfreak.com questioned the token and saying: "We have no confirmation that this is an official Pirate Bay project."
Torrentfreak reporters even reached out to The Pirate Bay and received no official notice. However, not long after torrentfreak.com released the report, the post was updated with the confirmation of the official statement from the torrent tracker. The Pirate Bay Official statement notes that the piratetoken (TPB) is intended to be a "soft launch." The message clears up some ideas that torrent tracker administrators have, but like most Pirate Bay messages, it is quite vague and mysterious on purpose.
"What is this? A lot of wow? Best carpet shooter? It's a soft launch for something new we want to try and we have a lot of ideas," reads the official release from The Pirate Bay. The torrent tracker ideas for the token are listed below:
- Donate to shippers
- Donate to moderators
- Direct video streaming through partners
- VIP content
- Member logins based on BSC address
- File hosting through partners
The mischievous Pirate Bay ad also adds: โLots of ideas. Much Wow. Good. "On top of that, the description is pretty short and there's no publicized word salad white paper tied to the project. The Pirate Bay too not a stranger to cryptocurrencies and began to accept bitcoinBTC) eight years ago. In addition, the web portal added currency (XMR) Y litecoin (LTC) donations too.
What do you think of The Pirate Bay's new token called piratetoken? Let us know what you think on this topic in the comment section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not an offer or direct solicitation of an offer to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author are responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
