Automatic Bidding of BitTorrent (BTTC) 🚀🚀🚀

For the initial release, clients will use a simplified auto-bidding mechanism. In this version, the client simply bids a fraction of the remaining BTTC balance in the service requester's wallet. This is how the bid is calculated:

bid = (spending rate x remaining balance in BTTC)/(remaining download in kilobytes)

This formula implies that as a download progresses, the bid will change. For the initial release, the client will not rebid until the bid changes by more than 10% from the previous bid.

The spending rate (a parameter that can vary from 0.0 to 1.0 depending on how aggressive the client should be bidding) will be defined to be 1.0. If the number of kilobytes remaining is equal to zero, then the bid automatically stops in order to prevent division by zero.

In the future, this algorithm will be refined. For example, based on existing bid message traffic and current transfers, the client will be able to estimate a market rate for bandwidth. The client also has a picture of piece rarity it can use to inform bid amounts.

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