Kim Dotcom: Megaupload 2 Delay Due To ‘Failed Merger’, Bitcoin Price Affected
Kim Dotcom has revealed the reason for delaying his Megaupload 2/ Bitcache unveiling was due to a failed merger with a Canadian company SecureCom.
Dotcom had promised the reveal Jan. 19 but said that there had been an “expected hiccup.”
He added that there was “nothing to worry about” and it was “just more of the same.”
However, it later became clear that information about the projects would not be forthcoming until later, with Dotcom promising “screenshots” of Bitcache in February.
Dotcom: ‘Go get some Bitcoin’
He added that Megaupload 2 was “the game changer the Internet is waiting for.”
“If you don't have Bitcoin yet go get some,” he tweeted Saturday.
The announcement, hotly awaited in cryptocurrency circles and among investors behind the projects’ already $1.1 mln starting funding, was announced exactly five years to the moment Dotcom’s original Megaupload was taken down by law enforcement.
Earlier on the planned reveal date, Dotcom posted a series of tweets as a form of build-up to the main news, in the classic style he has used every year since the event occurred in 2012.
In October 2016, Dotcom had announced the reincarnation of Megaupload would be something like the equivalent of Dropbox, “but without the ability to read your files.”
Blockchain technology was promised as a basis for a network which would award financial reimbursement when copyrighted material was shared illegally.
As early as July last year, Dotcom tweeted that Megaupload and Bitcoin had “had sex.”
Alongside Megaupload 2.0, a secondary project, Bitcache, was also revealed. Afterward Dotcom announced transactions on the platform would need to be done off-Blockchain due to limitations in the number of such transactions able to be accommodated.
“As you all know the Bitcoin Blockchain currently has limitations to the number of transactions that it can handle. If those limitations weren’t there, we wouldn’t have to innovate much because we would just utilize the Blockchain,” Dotcom replied to a question posed by BnkToTheFuture’s Simon Dixon during the projects’ successful investment round.
Bitcoin price began steadily climbing Thursday evening, creeping above the $900 barrier. Over the new year period, speculation surrounding Dotcom’s next move was also thought to be partly driving the rapid progression in Bitcoin’s exchange rate.