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Is it going to show my ip address to the entire planet?
Being forced to share whatever it is your downloading in realtime is what gets you sued or at least disconnected by your isp.
I live in the US. US law could care less about what you download. You can download top secret military info, You can download anything you can find, including music and video.Things change when you upload. Uploading the wrong things can get you sued or imprisioned.
Although widely used, currently popular peer-to-peer (P2P) applications offer no user privacy. By design, services like BitTorrent and Gnutella share data with anyone that asks for it, allowing a third-party to systematically monitor user behavior. As a result, using a P2P network means that your online activities become public knowledge.OneSwarm is a new peer-to-peer tool that provides users with explicit control over their privacy by letting them determine how data is shared. Instead of sharing data indiscriminately, data shared with OneSwarm can be made public, it can be shared with friends, shared with some friends but not others, and so forth. We call this friend-to-friend (F2F) data sharing.