Summary:
James Howells lost a hard drive with 8,000 Bitcoin, valued at over $749 million.
He is suing Newport City Council for access to the landfill to retrieve it.
The hard drive was accidentally thrown away in 2013 by his partner.
Howells argues he has intellectual and property rights to the coins.
He believes the coins could be worth 20% more due to their collectible status.
The Lost Fortune of James Howells
An early Bitcoin miner, James Howells, claims to have lost a staggering $749 million worth of cryptocurrency after a hard drive containing 8,000 coins was accidentally discarded in a landfill over a decade ago.
Howells, a 39-year-old systems engineer from Newport, Wales, is determined to recover his lost treasure. He has repeatedly requested permission from Newport City Council to excavate the landfill, but his requests have been denied multiple times.
In 2013, Howells mistakenly placed the hard drive in a plastic bag, which his then-partner took to the dump. With the current price of Bitcoin reaching an all-time high of $93,637, the buried drive's value keeps increasing, making it a treasure hunt that Howells is unwilling to abandon.
Legal Battle
Now, Howells is taking the matter to court, seeking either access to the landfill or compensation for the hard drive's value. He initially offered 25% of its worth to the council for community projects in exchange for cooperation but has since reduced his offer to 10% and is now prepared to sue for £500 million if access is denied.
Howells argues that he has both intellectual and property rights over the hard drive since he mined the coins himself. The council, however, maintains that excavation is not possible due to environmental regulations and has stated that Howells's claim lacks merit.
The Value of the Coins
Howells believes the coins could fetch up to 20% more than the current Bitcoin price due to their collectible nature as they were mined in 2009 and have never been traded. He reflects on the series of mistakes that led to this situation, including his own error in placing the hard drive in the bag and the council's lack of engagement since 2013.
Despite the legal hurdles, Howells remains hopeful, emphasizing that the treasure hunt is not just about the money, but about justice and the chance to invest in local businesses.
A Missed Opportunity
Howells asserts that if the council had cooperated earlier, they could have learned about Bitcoin and blockchain technology, potentially benefiting from the cryptocurrency boom themselves. His story serves as a poignant reminder of the risks and rewards associated with the volatile world of cryptocurrency.
Comments