Torrenting is not morally wrong if what you obtain is free and open source, shareware, or unfree media which you already have a right to the use of through previous acts. Some examples would be the torrenting of TV shows (including HBO, etc. if you pay for cable), films (if you have the DVD or have seen it at the cinema), the downloading of ISO images of games, Windows, or other software to which you already own a license (often called the “CD-Key”), but do not have a usable copy of the binaries.
On the other hand, using Bittorrent for piracy, the downloading of content or media that you do not have a right to use (such as films that you have not paid for in any way, or music that you’ve never owned), is generally considered by most people I have spoken to to be the sin of theft.
I personally had used Bittorrent for both purposes, although not to extremes (it would be sinful even on my view to write this post in a pirated copy of MS Office running on a pirated copy of Windows using a pirated license while doing maths in a pirated copy of Mathematica while playing a pirated video game, and burning the pirated video game and film to disk using a pirated copy of ConvertXtoDVD, which was not an unrealistic situation amongst computer geeks even when I did IT, in 2008 or 2009), and 90% or more for the former (downloading F/OSS, binaries to which I have a license, television shows on channels that I pay for), and have never felt the need to confess it. I should re-evaluate my position, most likely.