Peer To Peer Transfer

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So how does this work exactly? I have 100/100 connection and im used to fast upload/dl speeds, and with peer to peer enabled my download goes down to 400-500 kb, if i disable it i get 1mb or even 2, not as fast as i would want it but beats kb. Anyhow excactly what affects this, considering some say the dl faster with peer to peer on and some say its better with it off which i myself have experienced aswell.