Wasted shows a combination of discarded data and bad data. Discarded data is data that's sent to you by a peer that your client didn't want. Hashfails happen when bad data is received and the client throws it out.
µTorrent automatically verifies all downloaded data and will ensure that only correct data is written to disk.
Further Read:-
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How to upload torrent
Top movie torrents site
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From Mininova Torrentz .Fan's Guide
