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Disgraced Mt Gox CEO Goes For Second Try With Web-Hosting Service (And No, Bitcoin Not Accepted)

Tyler Durden's picture




 

Mt Gox may be long gone in the annals of bankruptcy, but its founder refuses to go gentle into that insolvent night. And, as CoinDesk reports, the disgraced former CEO of the one-time premier bitcoin trading platform has decided to give it a second try by launching new web hosting service called Forever.net and is registered under both Karpeles’ name and that of Tibanne, the parent company of Mt Gox.

From the company profile:

“TIBANNE Co.Ltd. is a Tokyo, Japan-based corporation founded in 2009 by talented technopreneurs. TIBANNE specializes in web hosting, IP transit, VoIP, software development and network administration. We are currently engaged in the reserch and development of new and existing services to produce innovative solutions for our clients.”

As CoinDesk notes, while Mark Karpeles has managed to keep a relatively low profile following the collapse of Mt Gox, he is willing to talk about other projects.

“Unlike other subjects, I am able to discuss Forever.net,” he told NewsBTC’s Eric Calouro.

 

In an email exchange with Calouro, Karpeles said Tibanne has been in the web hosting business for years. “We’ve been doing this since 2009, and even before founding Tibanne I help found a couple other hosting companies,” he said.

 

Going into details on his new company’s offerings, Karpeles said Forever.net will offer cluster-backed VPS servers with RAID1 on top of RAID 5 physical storage with hot spare drives on standby.

Here's to hoping that unlike his most famous previous venture the data stores on Karpeles' new servers won't just... disappear.

And speaking of bitcoin, so far there is no mention of this electronic currency anywhere on the site. This may change though:

Karpeles explained that Tibanne experienced a substantial loss of revenue due to the collapse of Mt Gox, coupled with an increase in legal costs. Now Tibanne is focusing on controlling expenses and generating revenue in an effort to “do its part in the Mt Gox bankruptcy process”, he said

 

“We are also considering accepting payments in BTC/LTC/etc.” said Karpeles. “Tibanne’s other hosting service KalyHost.com has been accepting BTC since Sept. 2010 and generated since then a total revenue of over 13,000 bitcoins.” Karpeles added that Tibanne will soon be releasing a new version of KalyHost.com as well.

 

The collapse of Mt Gox was caused by the alleged theft of about 850,000 BTC, although 200,000 BTC was recovered from an outdated wallet following the collapse.

Which also means that some 650,000 BTCs are still "out there" somewhere, despite bitcoin's much vaunted ability to track down and reverse any public theft. What it means about Karpeles ability to run a business in which every bit matters we leave up to readers.

As for Forever.net, somehow we feel that the irony of Karpeles' attempt to return to the spotlight starts with the name itself.

 

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Mon, 08/25/2014 - 12:40 | 5140936 slotmouth
slotmouth's picture

What kind of idiot wouldn't immediately switch their hosting over to this service it has a fucking Jet coming out of the servers!

Mon, 08/25/2014 - 12:44 | 5140957 knukles
knukles's picture

Your secret private confidential non-public information is safe with us... 

Mon, 08/25/2014 - 12:54 | 5140983 Pure Evil
Pure Evil's picture

As in Forever.fucked for doing business with these guys just like the customers at Mt. Goy.

Mon, 08/25/2014 - 13:11 | 5141059 lordylord
lordylord's picture

Won't accept bitcoin because he knows it's BS.

Mon, 08/25/2014 - 13:22 | 5141098 CH1
CH1's picture

Dude had the opportunity of a lifetime dropped in his lap, and failed the challenge.

He really should lay low for a while. Maybe later he could come back into the game.

Mon, 08/25/2014 - 13:39 | 5141172 _disengage_
_disengage_'s picture

CH1, I've seen you post positively about bitcoin before and I have a question/comment.

What would stop some ultra rich person from getting someone to write a persona software to handle many bitcoin wallets, host them all over the world on VPNs, and trading amongst themselves to make it appear there was a market?

At the beginning someone with a few million USD could have literally bought all the bitcoin (or enough to corner the market).

Anyway, my point is that while everyone focuses on the security, there is a completely legal/non-hack way to control the bitcoin market - own the majority and simulate activity.

Mon, 08/25/2014 - 13:48 | 5141209 0b1knob
0b1knob's picture

"No, bitcoin not accepted"

 

No, double negatives not never allowed in headlines.

Mon, 08/25/2014 - 16:13 | 5141824 MalteseFalcon
MalteseFalcon's picture

Remember bitcoin totally secure, unless your exchange is dicey.  Otherwise totally secure.

Mon, 08/25/2014 - 13:51 | 5141220 crazytechnician
crazytechnician's picture

Sorry to jump in , but some of these retailers are doing 50K / day in bitcoin sales. The volume is not simulated.

http://www.coindesk.com/information/what-can-you-buy-with-bitcoins/

 

 

Mon, 08/25/2014 - 14:03 | 5141279 bitcoinbear
bitcoinbear's picture

Losing half a billion dollars in btc did'nt land him a job at the Federal Reserve?

Mon, 08/25/2014 - 14:10 | 5141300 crazytechnician
crazytechnician's picture

Naa, that position was given to Bernie Madoff

Mon, 08/25/2014 - 15:37 | 5141618 bluskyes
bluskyes's picture

No, you're thinking of Social Security.

Mon, 08/25/2014 - 14:12 | 5141299 _disengage_
_disengage_'s picture

If we are going to constantly talk about someone hammering PM markets with billions of dollars... can't we imagine that the most powerful/fiat-wealthy people on the planet wouldn't be able to simulate a few million a day in bitcoin?

edit: I am not saying ALL the bitcoin market is fake, just enough to allow it to be used to manipulate/control the users. (Full disclosure: I think it is NWO-global currency BETA)

Mon, 08/25/2014 - 18:05 | 5142283 Muc Metals
Muc Metals's picture

If we are going to constantly talk about someone hammering PM markets with billions of dollars...
can't we imagine that the most powerful/fiat-wealthy people on the planet wouldn't be able to simulate
a few million a day in bitcoin?

PM markets manipulation using paper gold certificates is pretty easy.

But in Bitcoin markets there are no "paper BTC". You are trading the Real Thing(TM).
So they might be buying up all those BTCs driving the price up through the root.
And what would they do next?

Mon, 08/25/2014 - 16:07 | 5141795 CH1
CH1's picture

Disengage:

Yes, someone could trade back and forth to himself, but that wouldn't affect the price overly much. Here's why:

1. Those trades add supply AND demand. Price is set by the balance of suplly and demand. This game would elevate volume. That might ancourage some demand decisions ("volume is good, let's buy"), but it would not by itself add demand.

2. The BTC market cap is 5-10 billion. Some millions isn't that big an effect.

In short: Yeah, assholes could play games, but I don't think the games would be especially significant.

Cheers.

Mon, 08/25/2014 - 17:52 | 5142255 nailgunnin4you
nailgunnin4you's picture

Which also means that some 650,000 BTCs are still "out there" somewhere, despite bitcoin's much vaunted ability to track down and reverse any public theft.

 

Wtf Tyler you writing for the banks now you tosspot? Give me the Tyler moniker I'll learn you cunce good.

Mon, 08/25/2014 - 12:49 | 5140979 Suisse
Suisse's picture

Game server customers.

Mon, 08/25/2014 - 12:44 | 5140949 RiskyBidness
RiskyBidness's picture

Mt. Cox should have been at the Yellen Glory Hole in Jackson Hole!!

Mon, 08/25/2014 - 12:43 | 5140953 timeless21
timeless21's picture

"According to a joint report by Cyrus Farivar of Ars Technica and Pierre Alonso of Le Monde, Karpelès was found guilty of fraud when he was tried in absentia in France in 2010. He also admitted to having "pirated" a server to French authorities. He was sentenced to a year in jail but has not yet served his sentence."

Rich CV

Mon, 08/25/2014 - 12:47 | 5140966 Bay of Pigs
Bay of Pigs's picture

Moar importantly, what sayeth fonestar?

Mon, 08/25/2014 - 13:51 | 5141222 NoDebt
NoDebt's picture

Please, don't start with that guy again.  I had enough of him for a lifetime.

Mon, 08/25/2014 - 12:50 | 5140982 Tim Knight from...
Tim Knight from Slope of Hope's picture

"technopreneurs"?

Barf.

Mon, 08/25/2014 - 12:51 | 5140984 Tim Knight from...
Tim Knight from Slope of Hope's picture

The ZH double-comment gremlin strikes yet again.

Mon, 08/25/2014 - 13:35 | 5141143 Pickleton
Pickleton's picture

When you enter a comment and hit save, it updates and shows the formatting and puts the buttons there again and makes you think you need to click it.  If you no clicky, it no doubley.  It'll auto refresh back to the comments in a second.  

The web developers here suuuuuuuuuuck.  shitty posting methodology, a never ending trail of errors with the ratings, a non-existent actual search in the search engine, a goony-bird overall layout .  For the eventual question to come, yes, I can do better.

Mon, 08/25/2014 - 12:52 | 5140994 kchrisc
kchrisc's picture

I won't switch hosting provider until Corzine starts one--"Forever Mine Hosting: What is yours is also ours."

An American, not US subject.

Mon, 08/25/2014 - 12:55 | 5141000 maskone909
maskone909's picture

still trying to figure out how to activate my claim.  i got the information in the mail but it doesnt coincide with the information on the site. in otherwords, i cant activate my claim.  anyone else having this same issue?

Mon, 08/25/2014 - 13:11 | 5141057 MissCellany
MissCellany's picture

Good luck on that.

Seriously. No sarcasm intended.

Mon, 08/25/2014 - 12:58 | 5141006 novictim
novictim's picture

Fo-Eh-Vah gonna fuck you long time.

Mon, 08/25/2014 - 12:59 | 5141007 crazytechnician
crazytechnician's picture

With bitcoin there seems to be 4 types of people in this world:

Those who got in early and made a mint
"Financial Experts" who did not get in early and are now really pissed
Those who get in and still make a mint
Those who won't get in until they have no choice because by then it will underpin the global economy.

Mon, 08/25/2014 - 13:10 | 5141051 MissCellany
MissCellany's picture

And the 5th type: those who trusted MtGox and gox royally mounted.

But I'll grant you one thing: bitcoin is no worse than what's "underpinning the global economy" already...

...it's also no better.

Mon, 08/25/2014 - 15:17 | 5141523 Majikat
Majikat's picture

Amazing the amount of people who simply refuse to accept the last point. There will be no choice, it will anchor everything down to where it belongs.

Mon, 08/25/2014 - 17:16 | 5142090 Exponere Mendaces
Exponere Mendaces's picture

You forgot:

Bitter ZHer that held on to precious metals until the government ordered door-to-door SWAT reclamation, gunned down in his back yard bunker while refreshing ZH and wondering what fresh meal picture to post in addition to his faked-moon-landing beliefs.

Mon, 08/25/2014 - 17:37 | 5142181 crazytechnician
crazytechnician's picture

That would be a combination of points 2 and 4, I call them the ZH Flat Earth Society.

Mon, 08/25/2014 - 12:58 | 5141008 Colonel Klink
Colonel Klink's picture

Can't keep a thieving scumbag down.  Just look at all the hedge funds.

Free Jon Corzine!

Mon, 08/25/2014 - 13:15 | 5141070 crazytechnician
crazytechnician's picture

"Going into details on his new company’s offerings, Karpeles said Forever.net will offer cluster-fucked VPS servers with RAID1 on top of RAID 5 physical storage with hot spare drives on standby."

Mon, 08/25/2014 - 13:36 | 5141154 mattgallis
mattgallis's picture

What a douchebag

Mon, 08/25/2014 - 13:39 | 5141165 lasvegaspersona
lasvegaspersona's picture

I'm going to use the soon to be announced ( I'm sure) Tulving.even.fasterer servers, cuz if you screw folks you are unlikely to do it again...right?  law of averages..?

Mon, 08/25/2014 - 14:26 | 5141344 Colonel Klink
Colonel Klink's picture

Hahahaha, you mean THIS Tulving?
http://about.ag/tulving.htm

Mon, 08/25/2014 - 14:55 | 5141415 alexcojones
alexcojones's picture

WHy isn't this Mt Gox Muthafucker in JAIL?

Oh wait; Jon Corzine was his role model, as Colonel Klink said.

Judge Lets Corzine, Other Ex-MF Global Executives Tap

Do NOT follow this link or you will be banned from the site!