Megaupload + Bitcoins

[gentlemand]

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.

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.

[Senor.Bla]

"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."

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.

"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."

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.

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.

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.

[LoyceV]

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.

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?

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.

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

first bitcache is off chain and centralized.

Your summary is a lot nicer than my story

[Conus]

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.

[gentlemand]

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?

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

[Doamader]

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.

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.

[LoyceV]

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

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.

[p_linz]

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

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?
   

[Dudeperfect]

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.

[useless4]

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.

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

[azguard]

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

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?
   

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

[pereira4]

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.

[Sergiorr101]

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?

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

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

[MyBTT]

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?

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

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.

[a7mos]

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

[Snorek]

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

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?
   

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.

[Senor.Bla]

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?

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

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.

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.

[pooya87]

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?

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

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.

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.

[c4s7or]

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

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.

[Betwrong]

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

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.