Bitcoin Forum

"Megaupload 2.0 Will Link File Transfers to Bitcoin Transactions"

Would this really come out like how he want's it to? So.. I think pretty much files would need btc payments i think.

Additional info: https://torrentfreak.com/megaupload-2-0-will-link-file-transfers-bitcoin-transactions-160805/

https://pbs.twimg.com/media/CpZ3-d9UAAECc8k.jpg

I would stay cautious about this, because Kim Dotcom claims to have solved the scalability issue which is unrealistic and sounds scammy to me. But we will see. He has hyped this a ton and after hyping something so hard, he has to deliver to not damage his reputation, that is what makes me think it can be good.

Definitely hyped it alot. Hopefully not overhyped though. What path do you think this is going? Torrent uploaders uploading on mega instead and charging like half a dollar worth of bitcoins for a movie?

Would people be willing to pay for something, when it is illegal?
The authorities will start combing bitcoin transactions from megaupload, if something like this does happen.

Assuming he has some inkling of what he's going to be doing and the things he's going to do it's technically feasible, I don't think it will be over-hyped at all. While we do live in a hype culture, there is a relatively decent chance that he might actually follow through with what he's saying, because a relatively decent portion of his inventor/investor reputation might be on the line with this.

Some people have doubts about his solutions at the moment (I have some doubts myself as well) but I trust the guy so let's just wait and see.
Only thing I'm afraid of here is Bitcoin gaining a bad reputation from this whole deal , If Megaupload 2.0 will be successfull like Megaupload 1.0 used to be and then goes down... then a lot of people will point to Bitcoin (mostly the Media)

What solutions are you talking about ? He is not solving shit.From what I know,he will solve bitcoin scaling problem by inventing a system called Bitcache.Yes,the file uploads will be charged with micro payments which according to him enforce the use of bitcoins and thereby sky rocket the bitcoin prices.Apparently,they would go up 2k+ after the launch of Bitcache.

He is supporting the operation by solving the scalability issues as he puts it!Don't think its bad for bitcoin in any possible way that I'm aware of.You can have a look his tweet,its quite hypothical.

https://i.imgur.com/XqdBeHw.png

I trust Kim as well as many also trust him and he seem to be really careful about not making a bad reputation so i am sure he will launch his platform in early month next year. I am also quite excited to see how this new cloud storage platform gonna link bitcoin in between the process and how the scability issue of bitcoin transaction will be solved by bitcache.

somehow i do not get it how people believe and trust him and i always laugh when i read that he has a reputation to lose.
well i guess he has one reputation he can damage: bitcoin.

he is nor robin hood. inform yourself. please!

he never claimed to solve the availability issue of bitcoin, you are interpreting it wrong. he said his new system which will be released in 2017 will use bitcache (he may mean this or not! (https://www.drupal.org/project/bitcache)) and anyways i have been searching about this project and i don't see how it can even be an on-chain thing

actually he got reputation from those who getting helped by his megaupload service and after getting raided by US,he got such an empathy from his users so it does make sense that he could losing reputation amongst his users,however so many people still trusting him,but his reputation actually doesn't matter that much for normal people who rarely use his service

see this is what i mean. i do doubt that you informed yourself about him and his past.
you have sympathy for him because he was raided by the FBI, but ignore the fact he was more then once convicted.
is this someone you really want to make business with? this is like Mt.Gox and Bitfinex opening a new online wallet. hot wallet only.   

That's easy to solve, and it is exactly what any Bitcoin related website does: they manage the Bitcoins. Example: you some Bitcoins to an exchange (1 transaction), make hundreds of trades, and take out your Bitcoins (1 more transaction). Online casinos do the same.

The only way I can imagine Kim Dotcom will make a popular site, is this:
-You deposit Bitcoins (say 0.1 BTC)
-You get access to a huge database of encrypted movies in such a way that nobody can see what you download
-You pay a small amount for every download, using your balance on the site.

But I doubt authorities would let this slide, so I still think it's mainly a hype. If it wouldn't be just a hype, he would just say what it's about. If it's really good, he wouldn't need to create a hype.

People pay VPN-providers and newsgroup servers now for illegal downloads, so yes, people are willing to pay for it.

kim dotcom is still struggling with the authorities about the legal case against megaupload so it doesn't seem he cares about authorities that much!
and also i don't think there would be any deposit or anything like that, it will most probably be all peer 2 peer exchange for example person A has something you want and asks for a fee to give it to you so person B pays the fee with bitcoin and receives a unique download link.

Why would anyone pay for illegal content though? when they can get pretty much anything they want through regular torrents anyways? I haven't really looked at Dotcom's project though, maybe there are some perks to using his site instead? Also isn't he already up to his eyebrows in lawsuits?  :D

they would pay for it if the quality improvement is big and it just pennies.

I am very eager to see this feature implemented, my btc will be expensive than now, 570 usd. 2000 usd I will buy a house with my btc, plus a tesla 

Simple: Megaupload died in 2012 and no erszartz will ever reach its former glory. Dotcom is obviously trying to hype his stuff to see if he can make it work with this sole basis, but there's nothing concrete behind it. All he has left is a little reputation and he's trying to use it: his reputation is the only thing backing this big hoax. Anyway, people will still keep supporting him even if this fails because, you know, "it's Kim Dotcom, wahooo". But in the end he's just a fat ass who once had an idea to rip people off their money and is now dreaming back about these bygone times.
RIP Megaupload, you once were something.

He gets empathy as of its so unreasonable that he could lose his reputation among users. but strangely many people still trust him . reputation really does not matter that much for normal people who rarely use their services.

i'm actually not giving him empathy due to his wealth getting raided,the ones is those who use his service,to be honest dealing with this guy is such bad option,but i'm not involved into his business by the way,i should agree with your point "this is like Mt.Gox and Bitfinex opening a new online wallet. hot wallet only.  ",his megaupload is breaking the copyright law so it's enough proof to predict his action in the future

Like torrents? They exist already, and are free to use. For years I've been waiting for completely encrypted and completely anonymous torrents. If he can offer downloads in such a way that even the uploader doesn't know who is downloading, and nobody can proof anything illegal is being downloaded, he can create a very popular service.
Even The Pirate Bay and Kick Ass Torrent are taking heavy hits nowadays. An unstoppable anonymous platform for file sharing, combined with anonymous payments, is like the holy grail of downloading.
I haven't used much of Kim Dotcom's services (I may have clicked a link once in a while), but I admire his dedication.

It will make a positive impact on bitcoin i think. It means more business spaces for bitcoin which will result in more volume. Also, megaupload is a huge brand: Just calling megaupload along with bitcoin creates hype.

the project itself is a great addition for sure. i however prefer to stay a bit more realistic. we have seen more projects that had quite a bit potential ending up being left aside as there is either no interest, or they haven't done anything to market their site/service.

I see a lot of people saying in this thread that people will just blindly trust Kim after the whole Megaupload thing.
But would they really? People did lose their files and I remember reading quite a few stories back then of people who basically lost a lot of important files etc.

I still wonder how Kim Dotcom is going to do that.
Im sure that will be an interesting thing watching that, i hope that btc price will rise up thanks to him :D

It will be something interesting to watch. The 2017 year will different from any other for Bitcoin, other cryptocurrencies and blockchain applications that are about to come.

If your store your only copy of files on a free online service, the files can't be important at all. If that makes you lose trust in a person it's only justified, as your level of trust was far too high.

What are we talking about? Isn't Kim broke now? Kim Dotcom loses appeal to keep millions (https://www.washingtonpost.com/local/public-safety/internet-mogul-kim-dotcom-loses-appeal-against-us-seizure-of-millions-of-dollars/2016/08/12/927fe368-60ae-11e6-9d2f-b1a3564181a1_story.html)?

he's sure broke but he's now trying to gather money as you can see he's planning to make megaupload 2.0,his previous income which make him rich was from megaupload that now has been raided and been seized because he just breaking the copyright rules
such a good idea but also could break the copyright rules for the second time

Megaupload where the biggest platafform to share content, i doubt his community will left him, and i doubt people wont rejoin again to restart making easy money from it, bitcoin should be the currencie, soo no countrie can trace the coins from him, i believe the new project can impact at bitcoin bringing fresh money and making the price raise a lot.

If Kim success, bitcoin will really reach 2K+?

If he is caught for the second time, then he will end up just like Ross Ullbricht, and will never come out of prison alive. He was just lucky during the first time. The Hollywood mafia is very powerful, and they will make sure that this guy is gone for good.

it sounds like it is really gona set bitcoin alight, but only time will tell, kim is great at hype and i hope it can live up to that.  ;)

Whose money did he steal? I never heard about that story. He was (allegedly) involved in an insider trading scam, but I've never heard about him just straight taking money from people.

On his Wikipedia page it says that he has been convicted for fraud and embezzlement, isn't that kinda similar to just straight up taking away money from someone?

i think what kim dotcom has said so far is mostly hype. but also i think this can be a good thing and will be so popular in the beginning at least.

and i don't get one part of it, people on megaupload and file sharing kind of systems are sharing files for free, so as long as there is Torrents and free things like that, i don't know how you can ask for payment for your files.
unless this is some sort of sharing the revenue of megaupload like it was before.

If he can develop this thing, no doubt this will change the world, bitcoin will be widely spread. More and more people use btc, and btc has a big jump to 2000 usd.

He has a big reputation and his portfolio were amazing, when he got jail all people were able to see what he had collected with the megaupload project, now i believe the new project will make a huge pression to bitcoin, i doubt old costumers wont rejoin to return the income they had sharing content.

Didn't he transfer ownership of his latest mega businesses to his wife? I thought he was declared bankrupt a year ago and used his wife as a front to earn money through. If this new business earns thousands of Bitcoins they will probably officially be owned by his wife, and if anything goes wrong she will probably be held responsible.

Ah, I thought that the insider trading was unprosecuted, i.e. allegation only. Didn't realise he was tried and convicted.

I trust the guy for his current reputation. With that, I believe he will prove his words aren't just words.

He has hyped bitcoin quite a lot and I don't want to see his reputation be shattered for not keeping his word. This would prove a great opportunity for bitcoin users and mega users as well although it may pose quite a problem especially when the files being uploaded/downloaded are illegal.

Speaking of reputation,guy's a convict,has court cases running on him already.He was arrested from his workspace that is,his home for a number of accusations.It's not about the rep but perspective.

Touche!

yeah, i hope it will not turn out to be just a lie, if it was a real thing it will attract a lot of new people to bitcoins and i hope its price will grow

grow for now and if they close the service because of illegal activity? can you imagine what will happen to the price then? 

I don't think the price will be affected much by his service in the first place, so the damage of his service potentially closing down due to "illegal activity" as you said, will be next to nothing. The only one going to feel that impact is Kim himself.

the next spike and crash like the big one before.

Kim Dotcom is full of surprises. I hope he knows what he's doing.

He is too loud with saying that the price will go up insanely high because of his project.

I prefer people to have the term 'Action Speaks Louder Than Words' in their mind when it comes to sharing details about their soon to be launched project.

Believe me, if the price doesn't go up as much as he has been tweeting about, and I'm sure it won't, then people will not take him serious anymore.

you speak true words. he has been talking a lot about the price and so on, but how much technical details on how he wants to achieve this do we have?

We have 0 technical details as far as I know, he only has mentioned "bitcache" and microtransactions, and has claimed to solve the block size war problem which is ridiculous to me since we have the best devs working on this, so I doubt he has done it to be honest, but we only can wait and see.

Im expecting as you more details about the new project he is working on, but one thing is already know he will use bitcoin as currencie soo its already a great new, about the hyip well the costumers will use his new project for sure. About issues from the current blockchain i doubt he has the solution as well.

what he has said so far is more like a riddle and needs deciphering to understand. but he didn't say he is going to solve block size problem, he said bitcache is solving the scalability issue which is different i suppose.

so why do i not get the attention and money thrown at me if i would suggest a price of $5000 per bitcoin once my new whatever is released? it to will solve the scaling problem. i promise. is it because i am not cool enough since i never wasted other peoples money and was never convicted?
my point is the whole idea of bitcoin.
do not trust everybody and educate yourself.
until there are some hard facts i will stay very skeptical. 

even he's failed proving his words,he won't risk his reputation,his reputation is only about piracing things and that's why he's getting raided by US due to breaking the law about copyright,so,whether he'll succes or not,doesn't matter

Well he talked about solving the "bitcoin civil war" and this "civil war" is the small blockers vs the big blockers. To solve the so called "bitcoin civil wars" implicitly means that he has solved the block size issue which also means he solved the scalability issue, and that I need to see before I believe it.

I pretty much support that (like any crypto fan) been a big fan of the old megaupload and Think it will be great if they could make some as successful as it was with bitcoin implemented.

There has been created a fog about kim dotcom and bitcoin such that we don't know what we are discussing, we don't know how and what is he doing with the megaupload + bitcoin.
Or he will integrate bitcoin as payment method (nothing to be surprised), or he will force people to download the files only when they make a transaction(pay for the files)

yeah, i hope it wasnt just talks and we will see bitcoins accepted in megaupload pretty soon, that would be definitely good to bitcoin

so here are some "news" on the technical details of bitcache.
bitcache centralizes transactions, but uses the protocol to get the best of both worlds.
i just leave this here and you can decide for yourself.

i hope only for good bad is just not in my book for now
just to be half of what he said i would be happy

so his praised solution to the transaction problem is a centralized service. doesn't sound so promising to me. i guess we will see if he releases more details. 

If I understand what he's going for correctly, he wants to solve some of the transaction speed issues or something? Because aside from that unless he's focusing on the aspect of scalability primarily (which could be solved by large block sizes if it ever becomes a big issue) there isn't much he's offering to bring to the table.

well bitcoin can only handle a certain amount of transactions per second. one way to resolve this is to raise the block size. another way is to outsource transactions to side chains. but he wants to solve it with some centralized service. which is not a good idea since the big fuzz about bitcoin is it's decentralized nature. so he only brings a big mouth to the table.
 

this idea is old but i am glad that anyone atleast
thought it with bitcoin and nowdays the faints money
system gets harder on online shopping or online
spending but vertual coins are getting their grip on
most of the online services

why it does not sound promising, in my opinion it already is promising that it will use bitcoins and it is really great as it will give bitcoin more popularity for sure

I really believe this will bring and push bitcoin into another values, almost instant, people always searching for good and stable ways to make money and the previous megaupload were allowing all to make money, soo now the new version with bitcoin as looks like will be amazing.

Yes, but remember the main reason that Megaupload got shut down was because they were paying users. 
Investigators were able to prove that the company was giving payouts to accounts brining in large amounts of traffic. 
If they have any sort of payment system, they will have to be VERY careful about what they are taking payments for, or the government will argue that people are paying to download files that are known to be illegal.

Why did you think a file hoster site could affect that much for bitcoin? Even when steam starting to accept bitcoin there,s no impact on bitcoin but just a very small price increasing,i guess you don't what is megaupload exactly and why megaupload had been seized by U.S government few years back

ok, i have two concerns that should be understandable.
1. many expect a whole bunch of new users. let us assume they will be doubled. but megaupload uses bitcoin in a centralized way, so this would mean that half of the bitcoin world is centralized and decentralization was kind of the whole point of bitcoin. if you do not see why this is bad, then pleas educate yourself.
2. if i am running a legit business and accept bitcoin, but every body associates bitcoin with fraud and illegal activities, then i might give up my bitcoin support, when the reputation scares more people away then it brings in. and with fewer legit businesses bitcoin will never become global and always stay the internets dark bad money. 

definitely not good idea
they this will all go lose
i hope that it will be resolved without involving some other service in motion here

Just one question though. Why is Megaupload brought down while others are still there and kicking some ass.  ;D Wow that was exactly said by me. "kicking some ass"  We all know what this is.

maybe because when at the time megaupload is the most popular site amongst other in the certain categories and megaupload didn't put any effort to stop the piracy or atleast deleting files which having the copyright from his site when the others doing it and they're fine until now
and paying people to do piracy is really a bad thing which could trigger the government

I don't think that is the case. all of these sites are under attack from DCMA (DMCA or whatever they are called :D) and it is possible that they are up because they couldn't find the owner or he is out of US jurisdiction!

the example is the owner of kickass torrents, they removed copywright stuff fast if they received any notice but the owner was arrested in the end too !

Has Kim said anything about re-implementing this system? I think he's big announcement is that somehow he's gonna develop a similar system like this in the past but with BTCBTCBTC payouts for uploaders.

I am not really sure if filehoster advertising with a big bitcoin concept would be such a good thing for bitcoin.
The public opinion concerning filehosters is, that in general they have to do something with software or film piracy.
And that would put a bad light on bitcoin as well.
If Dotcom wants to creat a bitcoin concept, ok.
But I wished he would not make a big deal about it. Might attract a lot of negative publicity, especially in the US.

Well, is it really that bad to have an outside help?
Besides, it's one more biggy in the race and may possibly contribute significantly to the increase in bitcoin's value. Although I fear mega actually having great influence to bitcoin's value, to consider any possible impact on bitcoin value appreciations.

I have used their services in the past and this was needed to keep them afloat.
If a company that offers such services to the public for free wishes to keep operational they have to employ a way to create revenue in order too continue to survive.

I hope so, somehow will bring more visibility to the currency.

I'll stay cautious until I get to know more about how it'll indeed work, but so far it seems to bring attraction and new possible uses for BTC. A lot of people who use megaupload will learn about BTC and people who're invested into BTC may be able to use their BTC in these new possibilities through megaupload.

yeah, that would definitely be enough though it might be just the rumors and nothing might happen either

maybe to be caution is the best for this
i dont know what to expect and that will it be so to be extra careful is best

Why would they pay uploaders? Torrents have enough uploaders without paying them. A service like Megauploads has much larger storage and bandwidth requirements than a torrent site, so why would they need to pay the uploaders?

Availability is an issue with torrents, try downloading that obscure music album that hasn't had any seeders for the past 3 years. If that's something that could be solved, I'd be all for it

https://i.imgur.com/ddfSmyj.png

https://i.imgur.com/C2nUI5y.png

He has learned a lot from his MegaUpload and Mega.nz cloud solutions. Specifically Mega.nz gave him a chance to explore end-to-end encrypted solution and he obviously wants to take this to another level with MU2.

And when he says 'perfectly legal' masterpiece, I tend to think more than just a cloud storage for pirated content. A direct-selling market place for artists and content creators, perhaps?

BTW, his extradition case is being streamed live on YouTube right now:
https://www.youtube.com/watch?v=b0SuJonHLT4

And you just believe him, because he said it is perfectly legal masterpiece? maybe i missed something, but where is his proof? all i heard so far is that he is planing a centralized service to solve the transactions problem. he lies if he can profit from it, like he did before.

By perfectly legal he probably means that all files will be encrypted in some way that servers won't have direct access to files and ability to verify what exactly is uploaded.
I am speculating right now but I imagine this Bitcache will be evolved version of Kim's current project Mega.co.nz uses encryption for client-side communication.

This way even if people would upload illegal, copyrighted materials it wouldn't be possible to blame the service for it.

This^

I'm kinda confident on him pulling this up though. Seems to be like a really smart dude.

All talk, no show. Sure, he has had previous successes, but with all tweets he's posting, how will he have the time to develop his service?  ;D

Any idea when this concept will be live?

He will show us probably his final version of this idea. I guess there won't be any open beta tests. And I doubt he is the one behind development process.
During his Megaupload times he had a company and employed over 150 people. He has brigade of developers at his disposal I assume.

All we know from his tweets that Kim planned Bitcache to be released in 2017. No further details are known.

I think it would be amazing if it ever transformed into reality, The meagupload system would definitely be better if it was made linked with bitcoin for data transfer and cost/purchases. The fact that it will be linked to BTC transactions would allow more visibility although it might cost something.

yeah i think it would be a great thing for bitcoin too.

i believe Kim Dot Kom has hyped the news a lot and showed it a lot bigger than it really is but also it is not as small as smoe people are trying to show it. it is big but in a reasonable kind of thing and if it becomes successful it will make bitcoin a lot more popular and more expensive.

I still don't see it clear, and I will not invest in ni this Kim Dotcom thing because he may be trying to scam people after all. He already got called out by McAfee.. not that you can trust McAfee anyway. Both are scammish people in my book.

Megaupload 2 launch date is set for January 20, 2017 — the fifth anniversary of the police raid that first shut down the original Megaupload site and froze $300 million HKD (approximately $39 million USD at the time) of the company’s assets.

I really don't think this would be enough to get the authorities off his back.

google and friends can get away with it as they're enmeshed in government. people like this, and the places that aggregate content even when they have nothing else to do with it, are fair game.

By encrypting it and not allowing some servers to directly access it does not makes it legal.
I think what he meant instead is that his server's security could be so tight that the authorities could not get enough evidence to accuse him of any illegal activity.

I now remember I used his service once, many years ago. I uploaded 1 video, just as a test, and after a few seconds it was done! In other words, it noticed it's a video that's already on the network, and didn't need to upload the rest of it.
If he's going to create the same service using data encryption, and the server doesn't know what content you upload, he can't do this anymore. If 1000 people upload the same movie, it will have to be on his servers 1000 times.
If he's going to be competing with torrents, and every movie is on his servers many times, he'll need a lot of diskspace. Let's go crazy, upload the full blockchain as a backup!

With the start date 4.5 months away, he has to keep the hype up or it'll be forgotten before he starts it.

This is a good news and finally Kim had made his move. 3 months ago there was only a declaration on tweeter but right now he is naming his program. This is a good news to bitcoin users and the probability of it doubling its market value per coin is  very probable. This will lead to people buying more coins in anticipation to the coming of bitcache. Thus even before the launching bitcoins price will skyrocket already.

Still this launc dont mean that price will go up i think that if this comes well wich i hope that it will we can expect some change in price but not that much

It almost surely mean than price will go up. Maybe not to $2000 as Kim predicted but some price boost will be clearly visible.
And we need that kind of publicity to bolster bitcoin position.

for people the idea in combination with a well known person on top of the project is enough to get the speculation train moving. those who really believe in the $2000 talk of kim dot com to happen next year, are nothing more than sheeps. even at full success it won't bring the price even to the $1000 level. traders look through these things. remember the winklevoss dudes? their gemini exchange ended up in a big disappointment. they were too loud even before they launched their exchange. same is basically happening with mega.

what move did he made? another meanless tweet? and how is this going to triple the price? even the halving, that was supposed to bring us to the moon, had not such a big effect. but at least it was certain to come, not sure about bitcache.

Ive been following his case for a while now.  He seems dedicated,  I am hoping everything he wants to accomplish for Bitcoin and Megaupload comes true.  It would benefit the Bitcoin community and definitely affect the value of Bitcoin in a good way.

I don't know guys if you have seen the recent interview of kim dotcom for @RT https://www.youtube.com/watch?v=XQRQdNvja00 Watch at 21:30 where he explains what will be the new megaupload, how will it work, how private will the files be etc. He mentioned also bit cash, micro payments in bitcoin so I'm very excited to see what really he will reveal soon.

Even though Kim is obviously over hyping and the 1 Bitcoin = $2000 thing is nothing more than speculation,I am really interested to see what he has in his mind i believe that he can offer something new and revolutionary.Whatever it is i hope it will be successful and much bigger than Megaupload v1 was,we will see in 5 months from now.

Kim Dotcom revealed some more info today. Check this interview (https://www.reddit.com/r/Bitcoin/comments/5157xv/kim_dotcom_talks_about_bitcache_and_the_return_of/) posted on reddit. According to the comments, seems like it's going to be some kind of referral system with bitcoin payments.

i don't think a release of a new site could affect that much,it's just a speculation,even when russia officially accepting bitcoin the price just rising a little and megaupload is just a small thing compared to when russia legalising bitcoin,price boost is far to be happening or even will not going to happen

The costumers of megaupload if they know and join bitcoin will be insane how the market will react, and well its amazing to see another big project of a person who build fortune over his project, megaupload were the biggest place to share information, and get paid for it. I do believe those new community bitcoiners will have a good impact over price, around 20-30% an increase.

Ergh referral system again. I am not good with that. I hope they could come up with something else. Some people dont trust clicking links that goes to referrals. They are lazy to create an account just for you. Thinking it is just another pyramid investing. Hmph.

that is my speculation to dont think we can hit 2k that fast after this launch over 1000 is quite possible to see but still have some doubts maybe im wrong but i would be happy if price goes 50% up from current after this

russia legalizing bitcoin is sure nice, but it does not really bring new customers. surly a relief for the users. but this effects primarily the bitcoiners from russia and how many are there?. i have have no number for that but i have read about 30 000 bitcoiners in india, so this is not to many. with MU2 we have a potential of millions new users. that is a difference.
but do not get me wrong. i am very skeptical about kim and his plans. he is not our savior and this might end up as another of bitcoins big pump and dumps.   

I think it would be a great mix, bitcoin being a payment processing system with no identifications or restrictions and with megaupload being in a shady teritory I think both of them would fit just fine..idk about the success of linking a payment tx with the download link though.

of course it does not mean that the price would surely go up but i think it is really possible, i hope that it will make me some decent money

I watched this new video interview with Kim and I noted some crucial info he said about this project:

"We will not know our users, we will not know the contents of the files, will won't have upload IP address for any files uploaded to the servers so it will be the most private cloud system ever invented.
And on top of that we will have solution called Bitcache where every file transfer is linked to micro bitcoin transaction. We utilizing the blockchain, we utilizing this new digital currency and linking it to every file transfer."

This is what Kim said about Bitcoin in this presentation. So what do you think now?

I like the project and the system, Having the download links seen with the transaction would guarantee consistency IMO and would mean the links would be accessible as long as the bitcoin network is visible, it would be tricky to do that on the technical aspects though imo.

That is the main problem if that is solved well then pruce can be sky high. That is my main consern right now just to work fine is good if work more then fine btc might be higher then 2ķ

well yeah it does not mean that it is going to become big though i still hope that it is going to make the price booming and make us profit

nothing can make sure the price will go up, but what kim "dotcoin" claim to solve is huge, and that would definitely probably make the price go up.

This only raises more questions: How do you upload without the server knowing your IP address? If they don't know who uploaded what, and they also don't know what files they have, how can they ever delete anything? Will they only keep adding without ever cleaning up? And if they do delete old files (without knowing what's in it, and without knowing who uploaded it), you can't trust them as a cloud service to keep your files.

Currently I have a free 1 TB cloud service at my disposal, and I never use it simply because uploading is too slow. Most home users will have this limitation. Downloading is much faster.

Blockchain can only handle 7 files per second, and most blocks are full already. I assume these micro transactions won't be on the blockchain, and yet, he says it's on the Blockchain.

Then those who do upload are going to make some serious BTC in referrals. Which would inspire others to sit around in upload tedium in the hope of making money too.

As there are already lightning networks being played with, I assume this is similar in principle. But perhaps there is something super new. Regardless I don't really know how they'll get all these users on and off their side chain with the proper chain as it is.

first bitcache is off chain and centralized.
Here are some of my questions.
i do not know how they want to make the no ip thing work. they need to know at least the nick and its connections, or else how will the referral thing work? how do i get paid?
also how they are avoiding that i just spam endlessly? and many more.

Now you make it sound like SteemIT.
Why would uploading get you referral commission? That can only happen if someone pays to download, but if even Kim Dotcom doesn't know what files you upload, how can someone choose to download it?

I saw the presentation about it, and it looks promising. In short: Bob sending something off-chain to Alice through a third person. What it didn't explain though is why the third person would want to be part of it.
I expect Kim Dotcom to create his own "offchain" wallets that can transfer micropayments to eachother, just like you can send payments to other users on many other sites (I'm mostly familiar with casinos, but maybe exchanges can do it too). If that's the case, I'm not sure what the implications can be. 4.5 months left to speculate :D

Your summary is a lot nicer than my story :)

I am thinking this will become something useful here in the future if it is done correctly.  As another person said, this is his reputation online, so I am thinking he is going to do something good here, but you never know.

Maybe I'm missing something here, but someone uploads a film, shares the link, loads of people download it. Referral earned.

Well the guy knows how to make a business works, and he is returning with full power, soo as you said its his image, reputation on the game and i doubt it will fail. The people who were with megaupload in the past will join the new way and for sure will know about bitcoin.

If loads of people download it, the entertainment industry can find the link too. Then, they'll know the encrypted content is their movie, and lawsuits start.

by entertainment industry you mean Hollywood? wouldn't they need to download the file first to make sure it is their film? and wouldn't that be illegal and they couldn't use it in court?
   

That’s going to be an interesting as well as an important project in the journey of bitcoin. I am little bit worried because we have seen the past record of concerned founder of this service and his association with bitcoin will defiantly affect the perception of many observers.

Let’s hope we will not face any trouble with such services on goodwill point of view, we must prevent it from being criminal’s currencies. Although he has predicted bit coin to $2,000 after his project launch.

of course it will be really useful in my opinion and i think that this will make us some decent profit if we hold our bitcoins because it is going to become bigger

technically correct but if i recall correctly every state in USA has his own law about this with may be good opportunity for that also that is not good for court if they download it

From what I have researched, Kim Dotcom intends to create a sort of affiliate program so pay people that use the service. This affiliate program will function with bitcoin micro-transactions... I still dont fully get it.

thats true, i think that it is how it works, i hope that it will boost the bitcoins a lot in the near future, also i really like megaupload so its double benefit for me

Not totally true, but close enough. With each download, the file sharer gets paid their reward for the distribution of the file.

Megaupload should be a big success, however it could be like OpenBazaar, just launch quietly.

I do not understand how this will work ? will he spam the bitcoin network with tons of micro transactions for his site benefit ? and will the users pay for downloading or he will :D

I don't think that would be illegal if they check online cloud storage for source of pirated content which is rightfully theirs to begin with.
And as long as I remember in some countries there is law that allow you to download anything to 'test' it but you have to delete files within 24h.

and my reward depends on what? number of downloads or size or how does it work? if it is just the number, than i will download my own text file 1 million times a day or maybe one big one a couple of times if it is the other option.

maybe he knows something that i don't know but from what i have read so far it is clear he is making a speculation about how the system is going to work. because kim dot com has not yet released detailed information about how it will be like.

He says that he has the solution how to use bitcoin for micro payments. But as far as I know he has not explained anything about it yet. :)

Bitcoin indeed is a very good tool to use for micro payments. I think if done right then both will win: his service and Bitcoin. It's always a pleasure to see that Bitcoin is going to be used for a big project because this will definitely raise the demand for coins.

I don't think kim will be doing that, it might be something like this when you've earned like 0.01 btc you'll be able to withdraw.

you are right, in my opinion it is a really great currency that everyone should be using, in my opinion bitcoins are going to be big with megaupload

This will be something interesting to watch.  The next year will be different from any  other for btc, other cryptos and blockchain  apps in general, that are about to come.

All I have really read about Kim Dotcom lately is the beef with Macafee,would like to see more promotion on this idea,instead of reading the spat between them.
Think this will potentially get Kim int trouble but it could create spin offs that would be harder to crack down on for a short amount of time. Enough time to get people interested in bitcoin and learn how to navigate it,so it should be a good look if it does not get taken down with his project.

I love the sound of this and it could be a killer app,  i am also pretty sure that dotcom is actually Dr Kimoto inventor of the gravity well.  ;)

please read about him and his past. he is not some kind of savior. also i fear that his system will not have much to do with the real bitcoin. i bet many people using his service will not even know what a private key is let alone own them.

If megaupload start accepting bitcoin,it will make bitcoin more popular and there is doubt about it

Not sure which man you are referring to when you tell me to read their history? :D Both have troubled paths and I am well aware of both,so I will pass on the reading suggestion. Also was not endorsing Kim but saying how the attention could gain some bitcoin traction from people that are not currently involved in bitcoin. The download aspect can draw quite the numbers as people are tired of itunes shafting them on price. This is what I am pointing at and not either names being mentioned actually putting us on a more solid foundation. Both have ego issues and pump and dump mentality.

If MegaUpload is going to integrate bitcoin in their system and the users are getting in bitcoin if someone downloads their files then can somebody make a difference between MegaUpload and SatoshiBox where the last one charges 6% fee or 0.0006BTC?

this thread is mainly about kim and his vision so i was talking about him. you might call it a troubled path or say like it is. he has been convicted more than once and now he is telling people that he will solve some bitcoin problems and bitcoin will go trough the roof, but he wont give us the details. well, in such cases i tend to be skeptical and can just wonder how many here see him as some kind of savior, without seeing the danger of a potential damage. he will create a lot of attention. so what do you think will happen if this goes wrong. everybody will talk about how bitcoin failed. remember the DAO? basically a good idea, but it failed. how many people will invest in it if they try again? all i am saying is this: do not follow blindly because someone makes big promises. it could go wrong and set us back some years.

Im sure whatever service they are talking about will be in the legal grey area.
File sharing or something similar to how torrent site operators claim they are not responsible for the files that are shared.
It might cause some negative press for Bitcoin, but would bring a lot of new users, so it would be a mix of good and bad, probably.

Well i dont know what megaupload will bring for bitcoin community, but i do remember their big community were earning well, and i didnt know those SatoshiBox  as well, but well as long is good for bitcoin i do hope they can be fair with the rates and fees.

Satoshi box - Sell your digital content for bitcoins.
Megaupload - Sell some digital content for bitcoins? I don't think it will be a platform where you will sell stuff you created. Megaupload's big selling point was downoading illegal content for free.

So , It seems like Kim dotcom launched his campaign on BnkToTheFuture and he is accepting "Bitcoin only" !  => https://bnktothefuture.com/pitches/megaupload-2-0-bitcache (for those who are interested on investing) , for some reasons , I doubt the funding will be successful (but I'm sure the website will be for sure)

http://i.epvpimg.com/pWMgd.png

Why? An established artist could cut out half a dozen middlemen from between them and their revenue.

Do you guys think its a good investement? I dont really trust this.

cant wait for this to be released, wish dotcom would give out some more info tho.... although i suppose he is busy at the minute with his court case and that.

Kim is a guy who can hype something big time. The same way he did with his lawsuit. However in this case I think he may on to something because his Mega project was quite successful. I did not expect to see it grow so big. Very interesting what he will have in store for us.

Hasn't kimdotcom been talking about this for months now? it really doesnt look like its coming anytime soon and it just sounds like hes over hyping it way too much.

well, it is kim dotcom... seems reasonable.
i'll put some money and definitely will use when launched.

i would too but he hasnt really explained how the system is going to work. all he said is that each upload is going to be linked to a transaction id.

So far the only thing he seems to be focusing on is to make people believe his project will cause the price of Bitcoin to go up to yet unseen levels.

That's something he shouldn't be doing, really. If his project doesn't live up to what he is vocally making of it, then it will be as (not) successful as the much anticipated for Gemini exchange from the Winklevoss twins.

that is a really great idea in my opinion, besides that it would make bitcoins way more popular among people

As i had read he said the project will be ready at 2017 at the begining, besides that i dont believe he wanna put it live before, and i do believe he his really bringing something new that might affect bitcoin value a bit, atleast his last project had huge community.

well if this project really launched it will create, pro and cons, the good things is bitcoin is going to be more popular, when its launch more people will wonder what is bitcoin and there will be more people using bitcoin as transaction, the cons is the one we are going to download is the illegal content which in some case has the copyright

Megaupload being a site offering something that goes against the laws of some countries would be a perfect mix with something as anonymous and secure as bitcoin, I think they would be a good mix in both aspects, these being buying subscriptions and at the same time having links attached to a BTC transaction therefore keeping it for long term.

So according to the article users who share their stuff on Megaupload 2.0 starting next January will get a revenue stream in Bitcoins right? Does anyone know how this will work? Like do you get more Bitcoins if more users download your stuff? Anyways I will just wait and see how this thing pans out. I doubt it will overtake the torrent network in popularity but who knows I may be very wrong  ;D

Good assessment mate i think that explanation would open some mind here making this opportunity for both system will be a perfect combo megaupload risng again plus bitcoin having more adoption all over the web. Looking for the success here.

still i have some bad felling about this
it is good concept but dont think it will be that easy
it might be much more after launch that if will come to good/perfect condition so i think it will be lot latter
maybe it will be testing phase at start and after some time it will be like it should for uploading and sharing some small amount will get users for it

The problem with torrent network is lonegevity of files. Old, unpopular, non-mainstream files are very hard to download, because no one is hosting them.
With file hosting services it could be different, will it be more popular than torrents? I doubt it. Will it be used solely because it is linked to bitcoin? Probably not.
It needs to offer something better than our current hosting services and until Bitcache will be publicly released, details will be unknown.

If it is MU2 and Bitcache are just as powerful as Kim described, bitcoin price will not stop at $2000. It can easily hit $10,000 to 20,000. At that point people will be using "mBTC" or "bits" in their transaction.

there have been some new information on this new megaupload by kimdotkom and it seems even mroe interesting and i think this is going to make bitcoin a lot more popular than it is right now when it is released.

The fact that nobody is hosting old unpopular files shows that nobody cares enough to do so. So it's not really a problem for most people, and thus no reason to move somewhere else.
Old but popular movies are easy to find on torrents. And even if you do upload rare old files, it won't earn you anything because nobody will look for it.

I've only once downloaded a file that took a month. Usually it's done within the hour.

tell us about the new information please.

this sounds to me like the typical wishful thinking. at least a reason would be nice. we are around $600, so $20,000 is about 33 times this much. i do not see a reason for this.

I have been looking a bit on the internet, and so far there is no information about what the project will exactly do and look like. At least, nothing that we didn't know already, so I'm curious where you have seen this "new" information.

I have some doubts as well.
When bitcoin is used as the main payment method for something everybody knows to be illegal, that gives me a bad feeling.
I think that the main market for this new megaupload would be Us and Europe. I can imagine that the officials there will put up some efforts to stop the new Dotcom service.
And the best way to stop a business would be to cut its financial base, which would be bitcoin in this matter.
Who knows with what ideas the governments would come up to reach that goal. Might be just bad for dotcom, might be bad for bitcoin as well.

in torrent cases they are active if there is someone to seed them if that torrents is good then users are plenty to share and build up ratio on some trackers
will it be used only for that i agree with you completely it will have much more for this to be accomplished not just announcement and promises

Can we make money participating on the site?

Really have no idea on this one, is this a site that pays bitcoins for every download of the files we uploaded. I want to know please.

does megaupload finally introduce the bitcoin i did not know that mega upload was uploaded again what i heared the last time about it was that lot of people are saying that the site was down.

I wouldn't bet on that!
Dotcom is as usual overhyping his own project.
I can not see how this should push up Bitcoin to over $2000. Uploaders will get paid in some way, so nothing new here.
And downloaders will have to pay a very small fraction for the wanted data?? Then I doubt people will not use it.They will use some of the other several services out there.
Right this is all just pure wild guessing as no one of us knows how his concept should work out.
But for now I'm pessimistic as I know how pushed Dotcom lots of his businesses in the past which often ended with a failure.

that should be idea but we will have to wait for it to see if this concept will be like that
i sure hope for that, and on other hand maybe it will be just some small amount for upload and that is it
no idea how it will be just speculation and guessing

the project is not even near complete and Kim is teasing us with it and he is mostly trying to Hype it up so by the time of its release a lot of people already know about it and it becomes popular faster.

if it doesn't end up being like a cash cow project for some people to just make bitcoin and dump it for fiat, then i guess this can be a great thing for bitcoin usage.

if there is any website uploader hosting available for this, then i think more people will be attracted to use their service and got paid with bitcoin and more people will be know of bitcoin and its good for bitcoin itself.

and i think there are file hosting that will be accept bitcoin for paid their member.

it looks like he will get funded, so i guess we will find it out sooner or later how this plays out.

kim dotcom is going to make megaupload 2.0 that synced with bitcoin micro transaction,the past megaupload was taken down by FBI because it's ripping off so many contents and kimdotcom's wealth had been raided,the website down because it's seized

Is there a description about the details how all of this should work? I cant find anything. Or is he collecting money without telling anybody? Would be a really dubious move.

there are no details, but he tells us it will be private, safe and big. transaction off chain, rewards for content creators etc. her is a good summery:
https://www.youtube.com/watch?v=yPGdilknFbc
a lot of BS if you ask me.

Interesting, looking forward to seeing what it's all about.
I hope this will also have a positive effect on the price, not that we really need it... :)

i think one of the people who is extra happy about this rise is Kim Dotcom because most of all his new project, megaupload 2.0 is mostly using bitcoin and also it is because his speculation about price of bitcoin has came true before his release of megaupload 2.0!

in any case i can not wait to see how this is goint to live up to the expectation or not.

The scalability issue is becoming an important issue to solve. Everyday more and more people are getting into bitcoin, and the number of transaction is growing by the minute, if the scalability problem is not addressed in time it can turn out be the end of bitcoin.

Kim dotcom is a very rich man, he once mentioned that he will purchase 2000 bitcoins and that was last year . If he does, even before the launch of megaupload 2.0  he has already gained profit from the fund. That hug3 amount of bitcoin is supposed to be used in the operations of megaupload. That man is very lucky to and I do hope the launching of his site will boost intense increase in bitcoins price.

Not necessary but this launch date is same as Trump crowning day same 20 january to many coincidences in this date.
Dont want to say that thing will be good also may ended bad, but i expect lot from this mega 2 read so much about it and hope it will be like planned

He is a good supporter of Bitcoin because he loves to be rich in an easy way.

Remember his story...

He is the most speculative person in the world. However, I hope his predictions about bitcoin will became true.  ;D

it is not necessary negative, look in a positive way, with the scalability problem solve ... as well as to the Internet at an early stage of development, passing ability, the speed, which is constantly increasing

I invested on their ico with bnktothefuture. I suspect its going to be big. VERY big.

I am skeptical. I think that it will be a disappointing presentation from him. Yes, I am excited and curious on their implementation of the Lightning Network but I do not want to put too much hype in it. Let us just say that I am not holding my breath so to speak.

What could really this be except Kimdotcom's version of LN? Is it really something the whole Bitcoin community will use right now? Open Bazaar was overhyped, look where it is now. Are we all using it to buy and sell goods in the internet? No the majority of Bitcoin holders still prefer to use their credit cards and buy at Amazon.

No. He really knows what he's doing. This is not like a new venture for him and I doubt this is something he rush rush put together. You make a good point about open bazar but this is different and I think bigger too.

Its all speculation now. Only thing to do is wait it out and see what happens.

Im pretty sure this new version of megaupload will become a huge sucess, and i do expect this time no one loose money, be sure this will difuse bitcoin to those people which left or had considered bitcoin a dead currencie. With that said i do expect to be able to see a bigger value and more interest and support into bitcoin community.

I don't expect a Huge success because its not something that people will fall in love in the first time, It has been a while that it was announced about the concept but still no progress or any estimated time whrn it will be released?

Yes we will see. Nothing will convince some of us until we see this new project in action and how it is implemented. It would also be good not to overhype the project because we might end up tricking ourselves that this will be the ticket that will take Bitcoin to new ATH.

Well i on the other hand expect the police to watch him very closely and just waiting for an opportunity to bust his fat ass. And when this happens people will lose a lot of money. Do you know which currency will suffer in price and reputation? Bitcoin!

Wow,pretty interesting image.Do you have more images like this one?

Anyway,i don`t think that this business model will work.

Megaupload users love freebies and won`t pay btc for files.

This may be a gamble if I can say like that. True no info but maybe it will be boom when is released or it will be approached with caution and care. In any way dont think it will me momentary big it will take some time to adjust then community in general will see is it worth the time.

It will be shut down like the last one was, unless they setup a decentralized file storage like STORJ.

But even though the website can still be seized like the last one was, so what is the point of having a system if the website will be shut down after 10 minutes.

Copyright bullshit is getting even more violent recently, so what makes him think that he wont be shut down even faster than last time?

they can never kill filesharing, there will always be a non stop fight between DMCA(?) and and pirates around the world. and in the middle of all this fights Kim seems to be wanting to get his share of the market and earn some money to pay his lawyers fees to fight the court for the cases they have against him.

Its probably going to be successful and in the first hours only , I mean they have over 150 million registered users worldwide and the fact that he kept the users database and he is going to leave it and give premium membership for those who already had it means he actually cares and Its not a matter of money only for him.
We probably don't have enough details about Bitcache and how Its going to work with bitcoin and micro payments but I'm sure he knows what he is doing.

I still use mega, BTC, the price is too high, do not have money to invest
 ;D

You don’t need to buy exact one bitcoin or multiples of it. You can pick systematic investment plan which suggests placing buy orders in smaller units. It brings the purchase cost at average level where you do get benefit of price volatility (some of units are purchased at high price and some of units are purchased at low price) and thus it renders average price for purchase.

i don't see it becoming big at all. it may create lots of sound and become half as big megaupload was once. but in the end it is filesharing and you can not ask for money when you are sharing files specially if they are illegal pirated files that you are sharing such as a pirated movie that never works as long as there is free torrenting.

We do not how the project is implemented yet. It might be deployed using torrents or IPFS. As for Storj, why is there a need to issue a new token for what they are trying to do? The good thing about altcoins  is they are like experiments where Bitcoin can get ideas from. But thats about it.

Files are being exchanged daily with the torrents, soo i dont see why megaupload will become again ilegal, there is stuff that has been lost in the past, and there is no place to find those data, besides some people which does have them. As in the past people will try and make the new megaupload a sucess, sure police has an eye into this since they have their position, what i expect now id Kim does pay for copyrights some kind of fee, soo he can keep legal with his project, otherwise might become the biggest nightmare of crypto currencie.

What are you saying? Are all the files being uploaded and downloaded thru torrents legal to you? The only thing that made it easy for the government to shut Mega Upload down is because it was a centralized service. Torrents is a different matter entirely because it is peer to peer/decentralized. I believe Kimdotcom's new idea is a decentralized file sharing network that utilizes Bitcoin.

is his bitchache or how his solution to the scaling problem is called decentralized?

Exactly! Why would anyone want to pay for illegal files when there are the same files on torrents?
The only advantage could be bigger download speed (for a small payment), but honestly, I don't usually have any problem with speed on torrents. ;)
How putting money into trackable centralized megaupload service could beat a decentralized torrent base with a database of basically the same files.. ?

I dont get you two, in the past megaupload were one of the best source of income, if im not wrong they pay your for your content, considering the times your files has been dowloaded, and they pay you free rates xxx ammount and premium members were able to earn much more, sorry if im wrong but i werent a member of it.

Soo i do believe will pay for some kind of premium feature to earn from the downloads people will make, if you can dowload a file into 5 minutes why would you wait 5-14 hours because its free? Time its something that has value for the most, otherwise we would be slaves from work.

Here is my question. How do uploaders, seeders and torrent sites make money out of what they do? Maybe Kimdotcom is attempting to bypass those and give everyone an open and direct opportunity to make some Bitcoins by pirating movies, music, software, etc. over the internet. If that gains enough users and a united, reliable community it could be another problematic app for the government.

I think here is what he is aiming for. If you are an uploader, do you want to go somewhere where you are paid or not? So you go to Kim unless you can make somewhere more. If now everybody just uploads there, then this is where the content is and the downloaders are always where the content is. The amount they have to pay needs to be ridiculous small and you get the safety feature of encryption on top. That sounds ok, but Kim is an greedy and shady fucker that does not care about you, so i would not trust him. Promising stuff is easy. Delivering it is the hard part.

We will see what will be from this. Initial estimate was to btc after launch goes to over 2000$ dollar by Kimdotcom, for me personally dont think it can happen.
The claims for this price were that this product would conquer scaling problems of Bitcoin. Still 10 days from now we will witness something.

Still waiting for the Kim Dotcom press release and official details on how this is going to work... wasn't he supposed to deliver somewhere in early January? Kim Dotcom has been pumping bitcoin hard lately with his tweets predicting $2000 this year mainly thanks to bitcache delivering worldwide adoption, im yet to see it to believe it.

He did plan for it in early January and I guess that It didn't change anything (you should expect more details 20th January as he tweeted a few days ago) , as for the price , he clearly said that It may take two years for us to reach that amount.

https://img1.steemit.com/0x0/https://i.imgur.com/Y68NncB.png

It would really surprise me if he could present an acceptable solution. When did tweet this? Because he also tweeted before that that Bitcoin will hit the $2000+ in 2017.

Maybe it is not about you anymore or was it really about you in the first place? Kimdotcom strikes me as a nonconformist. I believe Megaupload 2'and Bitcache was intended to be as a form of disruption more than anything else. So if you worry that uploaders might get smaller fees for uploading pirated content and you see it as bad, then you might want to evaluate your opinion instead of typing nonsense.

You will have to be more specific, because i do not see where i wrote that the uploaders get a SMALLER fee. I also never wrote about pirated content, as we can also expect other content.
I can promise you that he does not care if it is disruptive or not. He only wants to make money. If he could make more money selling win 95, then he would do that.

Yea he said but also also said in many times and then it will no be like that and so on.
More it will be this 20th that will decide the fate for BTC will it go up or it will go down. Many expect to go over 1000 again but i would be happy if BTC dont drop anymore

I used megaupload a lot in the past (including megavideo) and it was a good website for warez, but now it has been a while since there is no progres from Kim. I hope that there will be a era in the bitcoin world and I hope many new people will join bitcoin through this project!

I wonder if Kimdotcom actually owns any Bitcoin or if the government took them all when they seized his assets.
Hopefully this Bitcache idea isn't total nonsense and brings Bitcoin to many new users. We're only one major app away from breaking into the mainstream.
Things will never be the same.

I don't see how bitcoin can accomplish any achievement with this dealing with a download service that was outlawed last time. And what now would make it different in this second round?

the least thing it can do is to introduce bitcoin to many new people who has never heard about bitcoin and see it being used and maybe use it themselves also.
and a good thing about it is that this project shows bitcoin more as a currency to do fast and safe transactions with low fees hopefully.

If he was smart he had backups somewhere of his wallets and then just moved the money to other wallet, while it seems to be hyped to death I hope that kimdotcom delivers on his promises because if he does this could be the breakthrough we have been waiting for.

I love that image too. It would be a little more accurate if they would show Kim Schmitz holding a burger and fries in one hand and a whole cheesecake in the other. LOL

He'll finally lose the weight in 2017 when the U.S. extradites him and puts him in a federal prison.

Personally i do believe on his ability to make this work, i think he is a master mind.
Linking stuff like file upload to bitcoin might bring some bad media attention, but i guess that is the price you'll need to pay.
Atleast we would get an really nice hype train if he managed to complete the linking process ;D

It's about sudden rise in demand and directly in the price of bitcoin. People who usually use fiat (via PayPal or visa etc) would use bitcoin due to the popularity of such services and ease of using those services. I doubt that such rise will last long or not.

I think so too, the guy is a genius, he may not be as bright as a bitcoin developer, but he knows how to tap on certain markets and exploits them delivering a product that just works as intended. MEGA is great, but it could have been better if it used html5 instead of stupid flash. It got ruined after he sold it tho.

This definitely sounds like a good idea; not sure how it would work. Can someone explain? My guess is that you would have to pay for certain downloads?... Don't see how this would work out since how do you know if what you are paying for is legitimate and not just a virus in disguise?

He doesn't care about bitcoin and megaupload, he is just trying to buzz. he is bragging constantly over twitter
any action ? nope

I do not think Megaupload will affect the price of bitcoin. Now people are haven't trouble with online storage. Alternatively, there are many cloud-based systems available. Dotcom is just advertize.

Bitcoin people are the most skeptical in the world. I understand why too but give him a chance. He is investing money, time and reputation. He is not a stupid man.

He is using his reputation to brag only. Making me think about Lady gaga

Its not even comparable. If he promised something for the near future and he didn't keep his promise , he won't have any good reputation left. I personally never seen anything from him that make disbelieve him. 20th January is in three days so we should wait and see how things goes and judge later.

We better wait for the product then, I'm thinking it's still like Storj but with the words he's using, it looks a different product all along.

He talked about using bitcoin but after several monthe he changed his minc if i am not wrong. As well, since how many time now the buzz with him and Bitcoin is running without any thing done
Over a year ? What is the latest news about him, as i didn't followed well what's was happening

This is a very ambitious project, but Kim Dotcom has already been able to deliver great products in the past. Maybe this time he succeeds in that. If it is something that can bring benefits to the ecosystem, I think people should support it. But I've read somewhere that for a project to be possible on this scale, it is necessary for SegWit to be activated first, which is something difficult under current circumstances.

Whats are the great products he delivered in the past .He just ran a cyber locker and that is the only project he has done and became notorious because of his extra ordinary life style and he was caught running the cyber locker and he is still facing legal issues from the US government.From what i hear he is under a new project apart from the cyber locker to start a cloud storage site.

Not necessarily, if he creates some sort of off-chain token system or if he works with companies like Xapo to handle the off-chain tx's. You will

only experience scaling issues when you use Bitcoin directly. {on-chain} If he is bargaining on SegWit to be implemented, then he would be

riding a dead horse. SegWit has a better change of surviving, if they can somehow implement it in LiteCoin.  ::)

He should stop thinking about Bitcoin and start finding a hole somewhere in Somalia or Botswana to crawl into. The U.S. will be granted extradition in 2017 and send him to an all expense paid luxury retreat if he doesn't disappear real soon.

http://blogs.reuters.com/photo/files/2011/06/RTR2N9TE.jpg

I am struggling to see what problem this "solution" is fixing. Thst is what I am worried about.
Never mind anything else.

Forget about MU, look into Purevidz. Its the future and a better project for crypto.

DYOR.

all we got to do is wait a couple of days and then critisize Kim if he fails
I don't think that Megaupload succeeding would be detrimental to bitcoin in any way
so its a win win scenario-either we have a good engine in MU to drive the price up,or we have all the rights to laugh at Kim and his failure

It's not fixing anything other than the bank account of mr Kim if this turns out to be a success. But I very much doubt that as there is simply no demand for something like this.

It will be similar to what has happened with the Gemini exchange from the Winklevoss twins, and what we have seen happen with OpenBazaar.

People were highly interested at first, but if you look right now to what they have become, then you can say that it didn't live up to people's expectations. MegaUpload is no exception.

I thought Kim Dotcom filed for bankruptcy years ago?

File transfers wouldn't need as much security or encryption as currency exchanges.

That could translate to a file transfer service based on blockchain technology being faster with more transactions per second.

I would guess that's what Kim Dotcom is referring to.

Even though bitcoin and Kim are two different factors, I think it would affect the bitcoin if he decides to pour all his money in such project. His moves will affect the price and user base and thus it is also associated with the goodwill of the bitcoin. Let's hope for the good future irrespective of the things happening in this sphere because ultimately bitcoin is going to lasts long.

So MU 2.0 is coming when exactly?
To be honest I don't believe it will have a great effect or impact on the Bitcoin price.
Why should people get their warez from a service which demands some certain amount of BTC, even if it is a very small one, when they can get it somewhere else for free?!
However let Kim Dotcom hype his stuff.Maybe he proves me wrong.

Wait and see what it will be all about, don't judge before the project will be ready.
You want to know about MegaUpload2.0 more then follow Kim's twitter, he is posting updated there very frequently.

His latest tweet about MU2: https://twitter.com/KimDotcom/status/821428762705174532

How do you run this new piracy company with no data?

lol, I've also read the news about kim dotcom I think he can prove what he said was true, at least holds some bitcoin to view the latest news story about megaupload

Did you forget the "not" right in between the "can" and the "prove"? Because so far he only made bold predictions and failed or corrected them into less bold ones and pushed the release dates further into the future.

Final countdown started , If he release information's about Bitcache and the idea is actually good and couldwork, people might go crazy and the buying start !

https://i.imgur.com/91tmwpT.png https://i.imgur.com/xBbSb8E.png

I think that any service that will advertise bitcoin should be supported. MegaUpload may have made a bad reputation in the past. I think Kim will get away with this negative reputation. The more bitcoin use increases, the higher the value will increase.

So he tweeted this 4 hours ago:
"Stay tuned for some big news about Megaupload 2.0 and Bitcache in about 90 minutes."
And then 2 hours ago this:
"Sorry but there has been an expected hiccup. Will tell you all about it later today. Let this play out and give me some time to update you 😎"
and this:
"Nothing to worry about. Just more of the same. It's actually entertaining. Hold the line please 😜"

So, yes i am very anxious to see what will happen next.

Wasnt that spactacular till now  :)

Well, in 2016, I read the news that megaupload predict the price will reach $ 2,000 bitcoin indicator at the beginning of 2017. Well, I believe that until the beginning of the year. see the current price, it may be very difficult for bitcoin to rise to $ 2,000. if it is really going to happen, may require halving, and purchase bitcoin massively this year.

His attorney may have advised him that it's bad to become an international criminal while you're on trial for being an international criminal. LOL

Seems like we'll have to wait another day or two before he makes another announcement.
Here's an article from Torrentfreak about the subject:

https://torrentfreak.com/megaupload-2-0-news-delayed-by-expected-roadblock-170120

His problem is that he is too loud about his project. It's basically the same as what happened with the Winklevoss brothers. They were very loud at the start as well, and look where they stand right now with their exchange. Basically the same goes up for their ETF that people have been waiting for so long. Kim is trying to create a hype around his project, but it's having no effect so far.

its better to try and create hype than sit on your hands and be afraid to fail
I'm only for Kim to be successful,there is nothing to lose for a general bitcoin user,just possible gains
so why not?
and his "roadblock" and the ensued wait could be simply some marketing plot to thicken suspense

I have been waiting for Kim to finally do something BTC related..

they are not in a bad reputation for people who are using MU for long , those oligarchs who control government want to squeeze some money to ordinary people who cant afford to pay for entertainment .

hope megaupload will sync to bitcoin now when they launch and be more anonymous so that pirates will be happy  8)

What happened to the "embargoed early Media access"? If any media had access, wouldn't they publish whatever the hype was all about now that Kim Dotcom decided to delay?
I expected it to by not much more than a hype, but this is just disappointing.

Normally i would say that things can happen and issues are to be expected with big projects and i would wait patiently. But he hyped it so much and now has nothing to show us. If you have a big mouth and do not deliver, then expect laughter.
 

I am really hyped after reading that tweet, I hope it becomes real.

Are you for real or a re you just kidding? Because right now we are laughing at Kim as he is not able to deliver. It is not live because of some "issues" (i wonder if it will be launched at all) and even if it would be, 100 million wallets do not grow overnight.

Nothing wrong with creating a hype around your project, but when you're working on something that you plan to get marketed properly, then it's utterly important to deliver afterwards. If you promise something that you can't guarantee, then the obvious thing is that you wait till you can guarantee it. That's why I also pointed at the Winklevoss example as it's basically the same situation. But you have a point as well ~ there is indeed nothing to lose for us.

Maybe he was just trolling. House arrest must get really boring.

I was looking at his tweeter and now he's talking about how he is engaged with this girl that looks like a model, im definitely jealous of this guy. He also said he will update us on the bitcache situation in tuesday... let's see if he keeps delaying it or gives us something worth anyones time.

Dotcom is trying a new job again. I hope it does not get you in trouble again :)

I wonder if a bitcoin price increase from the last days could be caused by expectations about this project.
It has increased around +100 USD within last 7 days..
Coincidence, or do you think it could be somehow connected and the hype really did its job? :)

Really funny to see his tweet saying that the price of bitcoin would touch $2000 in 2017, the possibility of reaching that price are a reality but that does not mean that it is because of Kim's service and megauploads launch.Let him come up with the product as he is hyping things up for a really long time. Let me see the product and then i will make a comment regarding this.

I guess we had to see this coming and by "later this year" , I'm sure he means Q4 and nothing before that. I'm however having my doubts about the reason before the late progress. His tweet

https://i.imgur.com/zRtWQi1.png

so hype merchant and convicted insider trader turns to be hyping empty hype. what a shocker.

it is more less expected if we take a look lot of think are changed in last minute and in the end everything went south
i just hope that it will become like he mentioned but dont expect to see that at all after all this

Poor Kim Schmitz is going to be really hungry in prison.

https://pbs.twimg.com/media/BsQG-H6CIAIurUF.jpg

I read it, then read it again. I still have no idea what it's all about! Why doesn't he make a site instead of talking on Twitter? Can't he just say what it's about? Now we had several accouncement for an announcement that was delayed, and another announcement to announce it's delayed again. This "thing" that's going to get 100 million users and push Bitcoin to $2000 turns out to be absolutely nothing?
We knew from the beginning it's overly hyped, which you only do when the product won't sell itself. But still, I'm disappointed to see there's no product at all. How is he ever expecting to gain anything from this?

Let's check Wiki (https://en.wikipedia.org/wiki/Bitcache):
All in all we still don't know anything.

Let's search further: bitcoinist.com (http://bitcoinist.com/kim-dotcom-megaupload-2-bitcache/):
Why would anyone ever pay 5 cents for an off-chain transaction? Several websites (exchange/casino) offer off-chain transactions at no cost at all! Even Bitcoin itself offers transactions at lower fees, although they can take a while nowadays.

I bet he will come up with a service which is already in the market with a different look.He just likes to hype things up and nothing else.He will announce these big deals and never fulfill things .He just made some quick bucks running a cyber locker and now he is looking to have some publicity and nothing else.

Doesn't look good for Mr. Dotcom.
New Zealand judge upholds Kim Dotcom's extradition ruling.
Looks like MU 2.0 and Bitcache is history before it started!
I'm certain US authorities already rubbing their hands.

http://www.usatoday.com/story/tech/2017/02/20/new-zealand-judge-upholds-kim-dotcom-extradition-ruling/98146224/ (http://www.usatoday.com/story/tech/2017/02/20/new-zealand-judge-upholds-kim-dotcom-extradition-ruling/98146224/)

No shit, really? Wonder where I've heard that before? LOL

Supreme Courts aren't required to review every case presented to them. He'll either successfully win the right to appeal to the Supreme Court (which will mean his ass raping in a US prison won't start for a year or two) or he'll not be allowed to appeal further (which means his ass raping will begin this year). Either way, he's fucked.

Smart attorneys though, they're going to bleed him dry before he's locked up forever. He better start a new project soon or he won't have any money left to fight.

Oh how i waited for this to happen. First his big mouth and talk about a $2000 price and millions of new users, then the delay and now this. I am just waiting for him to announce that he will still rum MU2 even from prison if he has to and people eating this lies up like  a piece of cake.

It's not surprising at all. Big talk most of the times always results in big disappointments as the same basically happened with the Gemini exchange from the Winklevoss brothers. Other than that, people don't really care as MU2 doesn't offer anything really useful to the majority of the people here and outside the forum. As soon as people start throwing with insanely high prices just because of their project, then it's already a sign that you should taken it with a huge load of salt. For serious people this is their first priority -- action speaks louder than words.

megaupload is so well known, I am sure when megaupload support bitcoin, maybe it will push the price of bitcoin be much higher, and stable. I also read an article that said that they predict that the price of bitcoin will be $ 2,000 this year.

I was under the impression that he was only a figurehead for Megaupload 2.0 but I may be wrong. I assume the wider team behind it is having pause for thought at least.

I think this too  ::)

Some updates, his last statements:


He also posted a video and I have to say that It looks good enough: https://twitter.com/KimDotcom/status/848731692638453761

Saw that twitter post but dont give much hopes to it. He did mentioned lost of stuff but at the end nothing happen.
Just wish him Gl with this and to be just half of what he told all of us it would be great for this project.

It has been a year already and the promise of launching megaupload and bit cache was still a promise. It has never been implemented possibly due to complications of integrating both systems and how it will operate. People are now tired of waiting for its launch and they are not talking about it now as if it was not existing. In my own opinion the only fault the owner does was to advertise it very early and leaving the excited clients on the air waiting for it.

My first thought: He is the one who should get ready! Bitcoiners aren't postponing, he is.

Second thought: the video looks nice. But I doubt it will work: who's gonna pay for content anyway? Millions of people share all kinds of files for free.
I only see two different markets: porn or warez. If it's warez, it will have fake files too, just like fake torrents are being uploaded. If it's porn, it can be the illegal kind. In both cases, his servers will be a target for the authorities again.

He's just trying to create a hype around this project (which is perfectly understandable), but so far there is not much for people to focus on other than the information that they occasionally release. Other than that, according to their site they have raised just over $990K, which apparently was a little bit more than their minimum goal. If this project was a real game changer (as he is trying to convince people), especially with his contacts, large investors wouldn't waste a single second and hand him over the needed millions. Long story short - there is no real demand for such a service.

All Kim Schmitz can look forward to at this point is going from tough gangsta:

http://images.fastcompany.com/upload/kim-dotcom.jpg

To crybaby bitch:

http://images.hngn.com/data/images/full/3839/megaupload.jpg

To shock and pain:

http://1.bp.blogspot.com/-QTE9LWkmaxM/Uehd5augWII/AAAAAAAAY3s/IvZbCILUHxk/s400/Gay+Sex+GIFs,+Men+Fucking+Men+GIFs,+(27).gif

The tool clearly involves the direct implementation of a Bitcoin address, which users will need to receive payments after the content is submitted. Portfolios can be created from the Bitcache client.
Even though he has gotten rid of copyright infringement under New Zealand law in a trial, he is still wanted in the US, the country seeking his extradition.

MU2 & Bitcache first product demo:

https://youtu.be/5HikmLbpqN4

I already posted the video on the thread linking to his tweet. It looks good but It definitely don't show enough details and he is planning to do the stuff he mentioned using bitcoin. A beta access for old premium users for example would be nice.

Eventually he'll move the platform away from bitcoin.

Right. He mentioned the users of old MU site will already have access on MU2 but an early access to beta would be nice.

Although I'm still skeptical of the number of people who are actually willing to pay for downloading the content from MU2.

It waas good talk when this was mentioned but after some time all went down.
I can remember when i saw last time some link that is on MU at all, but still when i look at all that is happen in this MU2 project concept is good after all. Still think that this will not influence anything else no matter how good something becomes at the end.

BTC is a good online payment currency, I have also used Megaupload, If there is a combination it is great. I want private storage, private payment

yes hyped it plenty. Hopefully not over-hyped although. What path does one assume this is often going? Torrent up loaders uploading on mega instead and charging like 0.5 a dollar value of bitcoins for a movie?

Its not the company who is going to upload things, Its the users who are. The payment feature is optional and you could charge something or nothing. I also suspect that people will be earning money for simply bringing traffic to the website but I'm not sure.