Bitcoin helps Kim Dotcom restore Megaupload platform

Controversial online resource entrepreneur Kim Dotcom has caused a stir among Bitcoin users after announcing that he plans to revive the Megaupload website next year and adopt Bitcoin.

Bitcoin users have different opinions on the success of Megaupload 2.0 and the illegal resource sharing platform. Dotcom's lawsuit with the US government continues.

Megaupload and Bitcoin

“ I can tell you Megaupload and Bitcoin go hand in hand, and together they breed joy,” Dotcom tweeted this weekend.

— Kim Dotcom (@KimDotcom) July 10, 2016

He noted that Megaupload will return on January 20, 2017, five years after the US government shut down its domain.

Dotcom clearly wants Megaupload 2.0 to get noticed, and he tweeted that all his Twitter followers will get a chance to test the new site before it's officially launched.

The combination means that even though the success rate of setting up payment channels has been low in the past, the new resource-sharing website will still proceed with this plan.

Recalling former Megaupload users

Dotcom promised that the accounts of former Megaupload users would be restored, which could raise legal issues because the first generation of Megaupload encouraged users to post copyrighted content.

As always, Dotcom's recent comments have received a lot of attention on Twitter and other websites, with both Twitter and Reddit posting responses to his comments. This will undoubtedly help promote Megaupload, which is exactly what Dotcom wanted.

One Twitter user said that Doctom was only reviving Megaupload to fight back because the US government pissed him off.

Reddit responses indicate that Dotcom cannot ignore the current Bitcoin market. One post revealed that Dotcom was affected by the recent Bitcoin halving and he is looking for a solution.

Another post on Reddit said Dotcom could benefit from the Bitcoin halving or the DAO.

“Kim is very smart,” the Reddit post said, “but I question whether he can combine Megaupload with Bitcoin and whether the combination will be unpopular with the public.”

New Features

Torrentfreak.com said Megaupload 2.0 will provide 100gb of free storage space, and users can synchronize information between devices without data transfer restrictions and with encryption protection.

Dotcom believes that Megaupload 2.0 will be able to bring back loyal users of the first generation of the site. Dotcom claims that keeping the former Megaupload user database intact is a new challenge.

It is unclear how Dotcom will protect these data backups. He stated that each user account will be protected.

"If all former Megaupload users logged into the new site on the first day, 100 million people would have noticed. While that's unlikely, a small number of users is a good start."

Megaupload 2.0 is not limited to resource sharing. Dotcom's MegaNet project is still under review. Dotcom said Megaupload 2.0 will be a crucial component.

At present, it is unclear whether former Megaupload users can use their original accounts to log in to the new website.

The charges continue

CCN reports that a grand jury in the Eastern District of Virginia indicted Dotcom and two executives of the resource-sharing website Megaupload. The indictment led the FBI to shut down Megaupload and conduct a surprise raid on Dotcom's home in New Zealand in January 2012. The government charged Dotcom with piracy, fraud, and money laundering.

Dotcom, whose website cost record and movie companies more than $500 million, says it is not responsible for piracy.

" The United States ... took down the entire Megaupload site, used the huge influence of Hollywood to do a lot of publicity, and froze all their assets," Dotcom's lawyer Ira Rothken told Reuters.

For now, the future of his resource-sharing platform adopting Bitcoin remains unknown.

There are still questions about whether Dotcom is using Bitcoin to encourage people to use the site. However, it is inevitable that the attention Megaupload receives after combining with Bitcoin will continue to grow, and the cryptocurrency will continue to increase in value and become more popular around the world.