Kim Dotcom Announces Megaupload Reboot

Kim Dotcom, the star of international content piracy, has stated that he intends to revive Megaupload as of January 20, 2017. The service will feature each download accompanied with a cryptocurrency transaction.

Bitcache details will be revealed on Jan20, 2017, at the launch of Megaupload 2.0

For embargoed early Media access email twitter@kim.com

— Kim Dotcom (@KimDotcom) August 5, 2016

Kim Dotcom did not clarify how exactly downloading and bitcoin transactions will co-exist; however, there is a possibility that users that had uploaded the most popular files would get a BTC reward. Dotcom has also announced “Bitcache”. So far, there’s no information as to what it is, however, some Reddit users suggest it’s a wallet for the file exchange service. Technical details of the project remain undisclosed.

Dotcom’s statement failed to garner univocal support in the community, as copyright violation is commonly considered a crime, so using bitcoin in a scheme like this one could give another edge to cryptocurrency haters.

Megaupload has been one of the most popular web resources in the world, with daily traffic of nearly 50 million people. In 2012, the service was closed. Estimated losses incurred by copyright owners comprised around $500 million, whereas Megaupload’s revenue from posting illegal digital content was assessed to be around $175 million.