Megaupload + Bitcoins

[azguard]

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.

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

[1714158387]

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[1714158387]

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[LoyceV]

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.

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?

[eternalgloom]

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.

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

[sgk]

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?

[sgk]

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

[Senor.Bla]

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?

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.

[Snorek]

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?

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.

[mk4]

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?

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.

[Sir_lagsalot]

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?

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? 

[X7]

Any idea when this concept will be live?

[Snorek]

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?  

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.

Any idea when this concept will be live?

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

[Gaswuwade]

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.

[Leonard2016]

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.

[pereira4]

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.

[sgk]

Any idea when this concept will be live?

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.

[European Central Bank]

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 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.

[drwtsn32]

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?

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.

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.

[LoyceV]

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

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.

[Xester]

Someone 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.

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.

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)

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.

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.

[azguard]

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