After missing his launch window in January, Megaupload creator Kim Dotcom has repeatedly hinted about the upcoming launch of Megaupload 2.0 and its Bitcoin wallet, Bitcache. On Monday, the Internet bad boy finally announced when the private beta of his much-hyped system will be launched.
New Launch Plan for Bitcache and Megaupload 2.0
Kim Dotcom, best known for the breakout success of his Megaupload cloud storage platform that was shut down by the U.S. government, has long been promising a successor to the popular service. In 2015, the larger-than-life entrepreneur announced that he would be using bitcoin as the incentive layer inside his next generation of Megaupload. The cryptocurrency would eventually be used in Megaupload’s wallet, Bitcache.
Dotcom had originally promised to release Megaupload 2.0 and Bitcache by January 20 this year. However, when the launch date rolled around, it was postponed until further notice. After a long delay, he finally tweeted on Monday:
Bitcache and Megaupload 2.0 private beta is coming in August.
Also Announcing Twitter Contest with Bitcache Prize
In addition to his private beta launch notification, Dotcom announced a related contest for anyone to enter. “Want a chance to win early access and a preloaded Bitcache wallet?” Dotcom asked. Anyone retweeting his announcement is eligible to win. He indicated that users who retweet will be entered into a drawing for early access to Megaupload 2.0 and be given a yet-unnamed amount of bitcoin in a Bitcache wallet.
To get around Bitcoin’s transaction limit problems, Bitcache was created to offer bitcoin micropayments off-chain, “similar to the lightning network,” Dotcom claims. The new wallet allows users to send small amounts of bitcoin to each other without having to worry about network fees.
April Bitcache Demonstration
In April, Dotcom released a video demonstrating Bitcache, which he described as a “first walkthrough of how the features work and how the site looks.”
The new interface features a simple e-commerce tool which he calls Bitcontent. Its purpose is to allow users of Megaupload 2.0 to earn money from any type of file or digital product that they would like to sell. They can do so by uploading it into a “Bitcache container” and setting a price, in bits, to allow others to download or stream the file.
Meanwhile, Megaupload 2.0 will still offer private, encrypted cloud storage for all users.
Do you think Dotcom will finally deliver Megaupload 2.0 and Bitcache in August for real? Let us know in the comments section below.
Images via Shutterstock, Twitter, The Independent, and Kim Dotcom
Want to create your own secure cold storage paper wallet? Check our tools section.