According to the notorious web celebrity, “every Megaupload file transfer will be linked to a tiny bitcoin micro transaction.”
The launch is planned for 20 January 2017 – the fifth anniversary of its predecessor’s closure due to copyright issues. The new service will combine cloud storage and hosting with enhanced security and privacy features. Dotcom noted that “Megaupload 2.0 takes decentralization, anonymity & encryption to the next level,” being a “nightmare for those who want to mass surveil & censor.”
Every #Megaupload file transfer will be linked to a tiny #Bitcoin micro transaction. Get ready for Bitcache. pic.twitter.com/0viV2sJ9ax
— Kim Dotcom (@KimDotcom) August 5, 2016
Because bitcoin microtransactions are said to be integrated into the new service, it may mean that those who upload popular files will be rewarded according to the number of downloads. The businessman’s tweet also called everyone to “get ready for Bitcache” without explaining what it is supposed to mean. Some Redditors speculate that it could be a digital wallet linked to the new website.
As long as Kim Dotcom keeps technical details of the project in secret, bitcoiners only can guess how the bitcoin transactions can be carried out and if they will be performed on-chain. Lightning Network and NAT file exchange service are mentioned as possible providers. Because it would be hardly possible to register every download in the blockchain, it was assumed that micropayments would be done off-chain.
Some commenters view Megaupload 2.0 as a dangerous scheme as commercial copyright infringement is a more serious crime than non-commercial infringement, and this will be “adding more ammo to the smear campaign of bitcoin”. There is also an idea that the site may provide a direct link between authors and their audience so that users could reward musicians and writers for the content. Yet for the moment, it is nothing but speculations.
Finally, several Redditors suggest that Dotcom’s tweets are purely an attempt to draw public attention to his person.
It is worth noting that Kim Dotcom already runs a file exchange called Mega that encrypts content client side using the AES algorithm. Users can exchange encrypted files, while all data is stored in the “cloud”. Access keys to the files are shared on a friend-to-friend basis between people who trust each other. Some services can be paid for with bank cards, PayPal and bitcoins.
Ludmila Brus
