In 2017, Kim Dotcom, the founder of the file hosting service became obsolete Megaupload, revealed a similar service called K.im which provided for giving any user the ability to download files, documents, code, videos and music files and get paid. crypto for their work. Since then, the Dotcom team has revealed that there would be a Kimcoin token exchange sale on the Bitfinex digital asset exchange. However, Bitfinex and the K.im platform team said that "regulatory uncertainty" had pushed them to postpone the sale.
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The sale of Kim Dotcom K.im tokens delayed indefinitely
The sale of chips for the K.im platform is postponed according to a blog post from the Bitfinex cryptocurrency exchange. K.im is a project created by the infamous Kim Dotcom, a New Zealander who once operated the popular Megaupload file-sharing site. In 2012, the US Department of Justice seized the website and charged Dotcom with copyright infringement. Since then, Dotcom is a company popular socialite on Twitter and is well known for its appreciation of crypto-currencies like BTC.
For example, October 31, the 11th anniversary of the bitcoin white paper, Dotcom tweeted "Crypto is a question of freedom." In recent years, the former Megaupload leader was working on a project called K.im, a platform designed for users to download content and be rewarded with small micropayment fractions Bitcoin. News.Bitcoin.com was invited to do a private demo of the app in August 2017, but the K.im project has not been officially released and users can only demo this app.
The Dotcom team also used the fundraising platform bnktothefuture.com and raised $ 1,061,696 from 330 investors. The pitch of the project explained that the Dotcom Blockchain platform would aim to provide better privacy and leverage the BTC chain to stick the foundations together. In addition, the platform K.im and Bitcache would use other blockchain solutions such as storj and maidsafe. In September 2019, the project's white paper revealed that the K.im project would use a native token named Kimcoin to facilitate access to content stored on the network. The white paper revealed that Kimcoin would not be exploited but manufactured using Liquid Network, a federated sidechain developed by Blockstream. The file sharing platform would allow users to use BTC payments, but Kimcoin would have more advantage because it is less burdensome. Kimcoin would also have other benefits and a rewards program.
Bitfinex and K.im's team agreed not to arrange token sales for the moment
The Kimcoins were to be sold on Bitfinex on October 22 and the coin would eventually be listed on the stock exchange in the third quarter of 2020. However, on November 5, Bitfinex informed potential investors that the sale of the chips would be delayed due to regulatory concerns. "Since we announced the launch of Kimcoin on Bitfinex Token Sale platform, the regulatory environment has rapidly evolved," wrote the stock market. "The fundraising risks for the sale of K.im chips have become clear and we must above all defend the interest of our community." The news follows recent SEC fines imposed on projects such as EOS and Siacoin. The project, Igobit and its founder, was indicted by the DoJ on November 6 for "participation in an investment program related to a supposed offer of digital coins." The organizers of the sale of Kimcoin chips may have decided to cancel their candidacy after the domino effect of criminal charges based on ICO. and judicial settlements in recent weeks.
"After careful evaluation, we regret to announce that Bitfinex Token Sales and the K.im team have agreed not to organize the sale of chips for the moment," said Bitfinex. "K.im will postpone any decision regarding the creation of tokens or the resolution of a token problem in relation to the K.im platform until it is fully functional." , added Bitfinex:
Meanwhile, the K.im platform project will continue and it is likely that an equity-based offer will be offered in the near future to qualified investors wishing to participate at this stage of the project.
The Dotcom platform has been in preparation for a very long time and has encountered quite a few obstacles on its course. For the past three years, people have been waiting for the project, but have to wait even longer because of regulatory opacity. The project roadmap shows that, if the sale of chips is dissipated, it could delay other achievements such as the integration of the Liquid network planned for the first quarter of 2020, K.im's application services and the prototyping, and the official launch of Kimcoin which was to take place in the third quarter of 2020.
What do you think about the selling time of Kim Dotcom's K.im tokens? Tell us what you think about this topic in the comments section below.
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Image credits: Shutterstock, Independent, Commons Wiki, Fair Use, K.im platform, White Paper and Pixabay.
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