If you're looking for something similar but want it massively simplified you can use Put.io<p><a href="http://put.io" rel="nofollow">http://put.io</a><p>Basically you can copy and paste a magnet link for a torrent (please use legal torrents only) and Put.io downloads that torrent to your 'drive'.<p>You can then either stream directly in your browser or download the file. You can also transcode to .mp4 (a format that works on most devices) with a single click.<p>Streaming works perfectly on my computer, ipad, iphone, PS4 and even my Nintendo Wii U. You just browse to the site and open your file.<p>The thing I like most about Put.io is that if someone has that file downloaded already, it will copy it over to your drive instantly. Meaning popular legal torrents will 'download' instantaneously and you don't have to wait for it to download.
Um if you need flash to play the video it's not an HTML5 player. Neither of these formats have consistent HTML5 video tag support across browsers.