Megaupload 2.0 secures financing

Martin Brinkmann
Oct 24, 2016

Megaupload, once the world's largest file sharing site before it was taken down by the FBI, may make a comeback soon as the financing for Megaupload 2.0 has been secured recently.

The funding campaign managed to reach the the minimum investment goal of €918.611 before it ended on October 24, 2016 with a total investment volume of €1.060.354.

Pitched by and associated with the notorious Kim Dotcom, Megaupload 2.0 aims to revolutionize file sharing. Bitcache Limited, the company behind the project promises to provide the technology needed to "share files safely, securely, and away from prying eyes".

Technically speaking, Bitcache is a micro-transaction service that utilizes Bitcoin and the Blockchain. Transactions will occur off the chain according to Bitcache due to limitations in regards to how many transactions the Blockchain can handle, but are re-introduced for instance when users want to withdraw funds.

Another thing that is special about Megaupload 2.0 is that users get a Bitcoin Wallet automatically on sign-up, and that Bitcache is then used for the transactions.

It is unclear right now if users will have to pay for any transaction they make, and how much it would cost them to do so.

Ideas for future Bitcache services show however that the system could be expanded in the future to take into account video streaming, news posts, traffic or micro-payments.

The Bitcache team plans to release Megaupload 2.0 in January 2017.  Success may depend largely on how the system works, and whether it requires all users to add funds to their wallet first before they can do anything, or if there will be free options available as well.

If all transactions require funds, say file uploads or downloads, then it is likely that Megaupload 2.0 won't come close to the popularity of Megaupload or Mega, another file sharing service that Kim Dotcom pushed and then moved away from.

One of the interesting questions that arises from the successful campaign is whether users will trust Kim Dotcom a third time with a file sharing service. While Mega is still in operation, Kim stated in 2015 that the service was not secure to use anymore. Considering that Mega was his project, it is only fair to assume that users may have a hard time believing that things will be different when Megaupload 2.0 launches.

Now You: What's your take on Megaupload 2.0?

Megaupload 2.0 secures financing
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Megaupload 2.0 secures financing
Megaupload, once the world's largest file sharing site before it was taken down by the FBI, may make a comeback soon as the financing for Megaupload 2.0 has been secured recently.
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  1. CHEF-KOCH said on September 5, 2017 at 6:34 pm

    It’s here, Kim dropped Megaupload – instead we got now K.IM

  2. Alessandro Tristan said on October 26, 2016 at 8:32 am

    I thought don’t have anything to do with Kim. But I agree with @Daniel Winter, I like it. The biggest free space on the planet: 50Gigs, I’m so happy! :)

  3. Daniel Winter said on October 25, 2016 at 1:29 pm

    Its quite unprofessionell he’s bad mouthing like that. It’s obvious he’s biased after having sold all his shares in the company. I use mega and coudln’t be happier. Fully encrypted whats not to like!

  4. Heimen Stoffels said on October 25, 2016 at 11:36 am

    The question is not only if users trust Kim Dotcom but if the FBI trusts Kim and/or Megaupload this time around. They most certainly keep an eye on Kim and will definitely keep an eye on Megaupload once it launches…

  5. Truted one said on October 24, 2016 at 4:30 pm

    users always trusted Kim , but Not The USA , we have seen a big Film of the twin towers , It was a preparing to lying , cheat, robbery and massacre

  6. Dave said on October 24, 2016 at 3:00 pm

    I thought Kim Dotcom sold different groups of shares in Mega to a Chinese firm, that was pretending to be several different entities. Because it was all one entity, this gave them control of the company and they pushed Kim Dotcom out.

    Anyway, how many times can someone screw up a project? Maybe third time’s a charm for Kim and his Mega-something branding, although I expect Mega might be able to file a trademark lawsuit against him since the name and type of business are very similar, which could be confusing to customers.

    But… Mega-something services are usually pretty good. It’s often a relief to see a download is hosted on Mega-something. But I have little need to host big files for the whole internet to download. My free cloud storage is kinda enough.

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