I think that the US enforcement of piracy by the FBI over MegaUploads is going to be the straw that broke the proverbial camels back.
From my own observations around the news and net, it would appear that the piracy issue was the smaller aspect of MegaUpload’s business. The major part was commercial, companies and businesses using the site to store information pertinent to them, and that is now lost, with the possibility of the information being deleted permanently.
Further the claims that MegaUpload were profiting from piracy appears to be a fantasy created to justify the closure. MegaUpload’s money came from registrations and advertising. They didn’t sell copies of anything.
As I said in my previous post on the issue, I had never heard of MegaUploads before the closure, which I consider an glaring failure on their part in advertising.
The reported claim that copyright holders had been deprived of $500 million in lost revenue attributed solely to MegaUploads I believe will be a splash in the bucket when compared to the lawsuits over lost legitimate data come to the fore.
If the size of this legitimate problem is as large as I am led to believe, if the USA isn’t already bankrupt, it certainly will be after the fact.
Watching the proceedings with interest…