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Should ISPs block P2P?

Mark Cuban, HDNet CEO and Dallas Mavericks owner, has posted an open letter to Comcast and other ISPs/telcos/cable companies asking them to block P2P. I think he's wrong, totally wrong.

Mark Cuban, HDNet CEO and Dallas Mavericks owner, has posted an open letter to Comcast and other ISPs/telcos/cable companies asking them to block P2P.

As a consumer, I want my internet experience to be as fast as possible. The last thing I want slowing my internet service down are P2P freeloaders. Thats right, P2P content distributors are nothing more than freeloaders. The only person/organization that benefits from P2P usage are those that are trying to distribute content and want to distribute it on someone else's bandwidth dime.

Does anyone really think its free ? That all the bandwidth consumed with content being distributed by P2P isn't being paid for by someone ? That bandwidth is being paid for by consumers. Consumers who pay for personal, not commercial applications. When consumers provide their bandwidth to assist commercial applications, they are subsidizing those commercial applications which if it isn't already, should be against an ISPs terms of service.

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I don't agree with Cuban at all.  The problem with ISPs isn't that "freeloaders" are causing slowdowns, it's ISPs overselling capacity and quoting silly transfer rates.  Offer people an "all you can eat" service and there will be some people that do that - eat all they can.  If that doesn't fit in with the business model than offering such a service and then putting in place caps and fair use policies is deceptive.  Another issue is a lack of real investment in infrastructure. 

Maybe customers also need to be realistic about what they can expect from their ISP, especially in terms of speed.  However, the root cause of these crazy expectations is usually the ISPs own marketing.

Thoughts?