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we could probably go back and forth on this for years and as others have said, its grey.
Some say its not illegal since you aren't hosting the illegal content yourself. But that is exactly what torrent trackers were doing (just "linking" to it, not actually hosting it) and we have seen those things get shut down one after another.
If you want to try it out on a small scale, you could theoretically try it out. With a prepaid credit card, proxies, etc it would not be easily traceable to you. It would probably not attract much attention, or if anything you and your hosting company would get requested to remove it.
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