What do you think of SOPA and PIPA?

[Reaper]

so they can't stop me from opening illegal sites (according to the bill) that are hosted outside the U.S., is this correct or not? :P .

It's not quite clear how DNS(Domain Name System)-blocking was ment to work exactly, but they have the means to block the address for sites outside of the USA. Either way, as far as I know they decided against putting DNS-blocking into the bill because of the massive protest.
I find it highly unlikely that SOPA will pass anytime in the near future. However, they've made a new proposed act called OPEN which is supposed to take away any means of getting money for "illegal" sites (also outside of the USA, actually especially those outside of it). Which is like the only purpose of them. That one's not as crazy (No SOPA-like "We can shut down any site that enables or faciliates illegal stuff" as far as I know. Really, which site doesn't enable people to post illegal content? The internet as a whole enables them to. Have fun shutting down the internet), but I'm not sure whether I like it, either.
Google supports it btw. Even facebook I think.

Megaupload was blocked by now, but the others (e.g. mediafire) have not. Is it because Megaupload was hosted in U.S. while the others are not? :P

I'm not quite sure about Megaupload, but there have been some articles about them paying specifically for illegal content. Either way, SOPA hasn't been passed yet, so shutting down sites is sort of a grey zone really.

Also awesome quote from the American Movie whatever Association: SOPA will most likely work, because China etc. are using similar systems and they work for them :P