Bitcoin is the second great P2P file sharing system. The first is the BitTorrent system.
The P2P payment network has continued its growth, having crossed the one million download mark.
Like BitTorrent, Bitcoin will also become one of the most popular P2P networks if recent adoption rates remain intact. In June 2004, BitTorrent traffic comprised 53% of all P2P traffic. Can you imagine a day when Bitcoin-related traffic reaches such proportions?
As other P2P systems have taught us, for Bitcoin to continue its growth and become adopted by a large user community, the system must be highly available and efficient.
In the case of Bitcoin, the downloading of the BlockChain will become a long and frustrating task, but transacting will remain swift thanks to the proper technologies. With user-friendliness, the value of “bitcoins” (i.e. their limited supply), and Bitcoin’s performance, Bitcoin has the right mechanisms to attract millions of user.The number of users over time of Bitcoin gives a good indication of the general performance and dynamics of the system, and the numbers seem primed to increase.