Kim Dotcom’s pinned tweet reads: “I never lived there, I never traveled there, I had no company there, but all I worked for now belongs to the USA.”
A dedicated Twitter user and political activist, Dotcom’s tweets revolve around the US’s copyright infringement case against him, his businesses, Bitcoin, and, recently, a new Kiwi law interpreted by many as giving government more powers to spy on its citizens.
Tweets about his ongoing legal battles are especially telling. A federal appeals court ruled last Friday the U.S. government was justified in its seizure of millions in assets from Dotcom.
Further, the Megaupload founder has no problem tweeting his thoughts about his judge: “Because Judge O’Grady was a partner at Disney’s favorite law firm. It’s now paying off for the US copyright elite.”
While fighting the Department of Justice, the German born mogul simultaneously courts the anarcho-capitalist and libertarian “Bitcoin community.”
“The #Bitcoin community seems excited about Bitcache,” he tweeted about a recent project to blend Bitcoin and Megaupload.
Dotcom and BankToTheFuture, a self-described “online investment platform that brings financial innovation & technology investment opportunities to qualifying investors” with particular attention to compliance, are working on an investment opportunity for qualifying investors in Dotcom’s newest venture, BitCache.
“Coming this August,” Dotcom tweeted.
The investment opportunity was hatched when financial journalist Max Keiser introduced Dotcom and BnkToTheFuture CEO Simon Dixon.
“This type of financing deal is only possible today due to the fact that the legal environment for storing encrypted files has come much further, the world’s first peer to peer decentralised currency Bitcoin has become the largest in the world,” Dixon told Bitcoin Magazine. BnkToTheFuture allows qualifying investors to pool their funds together to make investments in companies involved in building “the future of finance.”
Dixon says BnkToTheFuture has been involved in investing nearly $70m in companies over the past year. Keiser, a BnkToTheFuture client, suggested a deal between Dotcom and Dixon as soon as Dotcom announced he’d incorporate Bitcoin in Mega Upload 2.0.
Mr. Dotcom seems determined to combine bitcoin and cloud storage. The 2017 reboot of Megaupload – the first version of which was seized in 2012 by the US government – pairs with Mr. Dotcom’s vague blockchain project, Bitcache.
Mr. Dotcom, who founded Megaupload in 2005, foresees a mass online storage solution, with Bitcache using bitcoin to power micropayments. Dotcom also claims he will solve Bitcoin’s blockchain scaling problems. Encryption will secure user privacy.
Dotcom’s three ongoing projects pair: BitCache, Megaupload 2.0, and MegaNET. BitCache, Mr. Dotcom claims, could solve the Bitcoin block size debate.
“Bitcoin is currently involved in a debate on how to scale the number of Bitcoin transactions that can be processed each second and new technology is being developed to make that scaling happen on the Bitcoin protocol level,” Dixon said. “Kim identified a problem that he needed to solve in order to scale Mega Upload 2.0 to the number of transactions he needs to meet his business needs.”
Towards that end for Mega Upload 2.0 and other customers who need larger Bitcoin transaction volumes than currently possible, Dotcom is building Bitcache.
Mr. Dotcom plans on Megaupload 2.0 to deliver the “instant critical mass” MegaNet needs from a robust user base. Megaupload 2.0 Platform will enable Bitcoin micropayments via BitCache, allowing users to white-label their own applications.
MegaNET is designed to become a decentralized internet via mesh networks and the unused processing power and storage in cell phones. BitCache and Megaupload 2.0 are designed to bring processing power to the MegaNET system.
Dotcom says the project will be open sourced. Known currently? Not much. Yet Dotcom promises to bring Bitcoin to the masses: “I know how to create tech with mass appeal. I’ve done it for 20 years. #Bitcache will take #Bitcoin to the masses.”
Full details won’t be available until the pitch is launched on BnkToTheFuture. That Mega Upload enjoyed a userbase of millions underpins much of the planning for Megaupload 2.0.
“If successful this project can be instrumental in bringing new user cases to Bitcoin from large scale enterprise users potentially bringing millions of first time users to Bitcoin in a way that is more user friendly,” Dixon said. Dixon believes Bitcache could allow Bitcoin to scale to a volume akin to Visa and Mastercard without the need to change the code, as suggested by others.
What’s the big picture? According to Dotcom, his masterpiece:
“I’m creating a perfectly legal privacy masterpiece,” he tweeted. “I can’t wait to show you. Trust me when I say “You won’t need anything else.’”