MegaUpload 2.0 and BitCache Potentially Delayed For 11 Months
Tech entrepreneur and Internet activist Kim Dotcom delays Megaupload 2.0 as well as Bitcache, a supposed off-chain micropayment system utilizing the Bitcoin blockchain.
Renowned Internet activist and tech entrepreneur Kim Dotcom has appeared multiple times in the public spotlight. He initially gained attention when his Internet creation Mega, an anonymous file-sharing service, was taken down by the United States government, something many people believed was unjust. Kim’s argument was that he as the host of the website could not know what content the users were sharing, even if the content was illegal, and therefore he had the right to operate the website. Even though Kim Dotcom is a resident of New Zealand, the United States of America disagreed with this philosophy and promptly shut down his service.
Enter Megaupload 2.0 (MU2), Dotcom’s parry to the USA’s original attack, which brings new firepower to the table. MU2 expands upon anonymous file hosting by monetizing the sharing process through micropayments enabled by Bitcoin, creating an even larger incentive. Dotcom describes this new micropayment system as BitCache, an innovation which will release along with MU2. He is so confident in Bitcache’s potential that he believes it alone will “drive Bitcoin mainstream” and double its value – to nearly $2000 per BTC.
While some followers of Kim Dotcom have been eagerly waiting on his every word, others believe Kim is just pumping hype. One Redditor by the name of “mynameisnotstacy” says Kim “is completely full of shit. Look at the tweets,” who then demonstrates that Kim Dotcom follows a pattern of creating drama, promising major news, and then does not deliver.
An example of this occurred recently. Dotcom promised on January 19 that he would discuss news about MU2, even inciting a sort of countdown. He then goes to tell his followers that there was an “expected hiccup,” and that he will release later on the day in question. Then, two days later, he tweets “I’ll update you on the Megaupload 2.0 and Bitcache situation on Tuesday.” Surprise, surprise, Tuesday comes, and he announces that MU2 will beta launch “later this year.” To be fair, a TorrentFreak article did, in fact, quote Dotcom saying “It is unlikely that we can make a full January 20 launch happen.”
With the drama aside, there is still talk of development. On January 25, Dotcom states that the cryptographic logic for MU2 and Bitcache is done and that the UI team is working on a fresh look. He’s not all hot-air, and even though sparingly, he does give us some meat about what is to come.
We as Bitcoiners have two options when approaching new services that seem to promise a Bitcoin paradise; we can remain hopeful in that the innovators stay true to their words, and that what they deliver is widely beneficial, or we can stay cynical and shoot down innovators for any apparent fault. We should not hold true to one approach or the other, but maintain a healthy mix of both perspectives.