is there a way i can hide from people seeing my ip on the peer list in utorrent?

PeerGuardian blocks the IPs of "known" anti-P2P groups from connecting to you so they cannot see your IP.
uTorrent also has the ipfilter.dat feature for this.
http://www.utorrent.com/faq.php#What_is_…
The other alternative is using a proxy so the IP seen is that of the proxy.

An IP for you is visible to those you are connected with.

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