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Author Topic: Will Megaupload 2 take Bitcoin mainstream?  (Read 241 times)
zigglr6
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November 06, 2017, 07:54:31 PM
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For those that don't know, Megaupload was a file sharing site that was in the top 100 largest websites until it got shut down in 2012. It had over 50 million daily users.

The guy who made it (Kim Dotcom) is now relaunching it as Megaupload 2. But this time, every file transfer is linked to a Bitcoin micro-transaction.

Here's their video about it: https://www.youtube.com/watch?v=yPGdilknFbc&t=0s - this could be what takes Bitcoin mainstream.
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November 06, 2017, 07:57:08 PM
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No never
zigglr6
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November 06, 2017, 08:13:31 PM
 #3

For those that don't know, Megaupload was a file sharing site that was in the top 100 largest websites until it got shut down in 2012. It had over 50 million daily users.

The guy who made it (Kim Dotcom) is now relaunching it as Megaupload 2. But this time, every file transfer is linked to a Bitcoin micro-transaction.

Here's their video about it: https://www.youtube.com/watch?v=yPGdilknFbc&t=0s - this could be what takes Bitcoin mainstream.
Unfortunately, no clear answer on how these microtransactions will run on the bitcoin network. With on-chain bitcoin transactions fees costing several cents at minimum, Bitcache must plan to become a centralized storage facility for bitcoin.. but dude mega was launch last year  Undecided

It's complicated but I think they said the transactions will happen off - chain, with Bitcoin being used for deposits and withdrawals.

It is being released this week: https://twitter.com/KimDotcom/status/926535969783791616
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November 06, 2017, 11:02:59 PM
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It's complicated but I think they said the transactions will happen off - chain, with Bitcoin being used for deposits and withdrawals.
No shit, but it would have to be far more complicated than that.  After all, the Lightning Network isn't being used by any major wallets yet, so what solution could Kim Dotcom have that's better than everyone else's?

It seems like he's riding on his reputation to avoid giving enough details or insight into his project.

It's certainly a very interesting concept, but he got in partway through this ICO bubble, which really doesn't give me a lot of confidence.  He could very easily put out a sub-par project without breaking any outright promises that he's made, and make off with millions.
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November 06, 2017, 11:15:08 PM
 #5

For those that don't know, Megaupload was a file sharing site that was in the top 100 largest websites until it got shut down in 2012. It had over 50 million daily users.

The guy who made it (Kim Dotcom) is now relaunching it as Megaupload 2. But this time, every file transfer is linked to a Bitcoin micro-transaction.

Here's their video about it: https://www.youtube.com/watch?v=yPGdilknFbc&t=0s - this could be what takes Bitcoin mainstream.
Unfortunately, no clear answer on how these microtransactions will run on the bitcoin network. With on-chain bitcoin transactions fees costing several cents at minimum, Bitcache must plan to become a centralized storage facility for bitcoin.. but dude mega was launch last year  Undecided

It's complicated but I think they said the transactions will happen off - chain, with Bitcoin being used for deposits and withdrawals.

It is being released this week: https://twitter.com/KimDotcom/status/926535969783791616

While I do think Kim Dotcom is a smart guy, I don't trust him to release things on time. So I'm going to be thinking that this is all just going to be a bust and nothing is going to come out of it, and even if he does release somehthing -- it's not going to come close to the amount that Kim hyped it up to be.

Nothing against him, that's just the current state of anything Crypto to me -- and a tad of his past.




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Donaldturp
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November 06, 2017, 11:18:56 PM
 #6

I'm not sure but that guy, Kim Dotcom or whoever is a bit problematic guy in the eyes of USA law. I think there are several cases ongoing about him. He's a big fan of bitcoin but I'm afraid of him to damage bitcoin's image becauase his history.

Hope he can manage this and desn't damage bitcoin's image. His business would be a opportunity for bitcoin too.
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November 06, 2017, 11:46:25 PM
 #7


It won't take it to the mainstream but it will certainly help the cause and increase the volume of trade using Bitcoin as means of exchange. I'll definitely look into it a little more because there are some real good digital creators that would love the support from these sort services.

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November 06, 2017, 11:52:37 PM
 #8

Most people using Megaupload are already aware of BTC in one way or another. It’s become so big that even the luddites have heard of it.
On that note I don’t see it making BTC mainstream but it could help continue spreading thenadoption of it.
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November 07, 2017, 12:27:37 AM
 #9

I'm not sure but that guy, Kim Dotcom or whoever is a bit problematic guy in the eyes of USA law. I think there are several cases ongoing about him. He's a big fan of bitcoin but I'm afraid of him to damage bitcoin's image becauase his history.

Hope he can manage this and desn't damage bitcoin's image. His business would be a opportunity for bitcoin too.
To be fair, Bitcoin doesn't have the hold reputation in the eye of the public, there are many people who associate Bitcoin with drug traffickers, money laundering, illicit weapons sales and pretty much anything illegal that you can find in the Dark Web.

About Megaupload 2, as far as I know the website is going to be called "K.im" and honestly, it sounds like a promising project, though its success will be based on how many people are willing to pay for content that they can find for free online since this website is going to be a file hosting service and will be used for piracy.

It could definitly help Bitcoin become mainstream, since the site also includes the option to monetize files using Bitcoin micro-transaction as payment. imagine YouTube creators or indie musicians using this website, it could be a game changer. But unfortunately Kim Dotcom has stated that the site will go live after the ICO so...yeah.

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