Megaupload 2.0 Stalling but the Market Is Paying Attention
The Bitcoin world has been abuzz the last few days over the much awaited launch of Megaupload 2.0. Very little information on the new platform has been released since the media covered the story last October. Megaupload Hits a Roadblock An announcement was expected today (January 20th) as this was the 5 year anniversary of the site being shut […]
The Bitcoin world has been abuzz the last few days over the much awaited launch of Megaupload 2.0. Very little information on the new platform has been released since the media covered the story last October.
Megaupload Hits a Roadblock
An announcement was expected today (January 20th) as this was the 5 year anniversary of the site being shut down by authorities. Earlier today Kim Dotcom tweeted that there was an “expected hiccup” which was followed up by this …
Mission: Destroy roadblock
Duration: A day or two
Status: Top secret pic.twitter.com/e8bje9VeRF
— Kim Dotcom (@KimDotcom) January 19, 2017
While the nature of the hold up is unclear, Kim Dotcom is not fazed and we expect a formal announcement early next week. What is interesting about this is how the market reacted. The price dropped $15 within 10 minutes of the first tweet indicating the stall. This tells us that the market is clearly paying close attention to the goings on.
And so it should. The original Megaupload had over 200 million users. Kim Dotcom has the list of previous users and has his finger on the trigger to reintroduce this massive group of loyal Megauploaders back on his new platform. Being an internet file sharing site, most of the users are educated, tech savvy people. Could there be a better group of people you would want to be introduced to bitcoin? I don’t think so.
Adding Millions of Bitcoin Users
Current estimates on how many people use bitcoin range from 2 to 15 million. If even a small percentage of the 200 million previous users join Megaupload 2.0 this could easily multiply the number of real bitcoin users worldwide.
Optimistically, if the platform is anywhere near as successful as the original Megaupload, network effects and a larger population on the internet could drive many 100’s of millions of new users to site before the end of the year. This coupled with Abra’s recent announcement that their “Uber for money transfers” will be global in a month adds a great case for speculators as well.
Even though both Megaupload 2.0 and Abra use bitcoin behind the scenes, both open the door for bitcoin conversations boosting interest in developers and everyday users alike.
Megaupload 2.0 and Abra are just two of many projects expected to add enormous value to the ecosystem in 2017.
Know of any other interesting Bitcoin projects launching soon? Join the discussion and let us know in the comments section below.