James Howells, a 39-year-old from Newport, has spent almost a decade attempting to retrieve a hard drive containing 8,000 Bitcoin—now worth £600 million—that was unintentionally disposed of in 2013. Following a failed High Court action to compel Newport Council to allow excavation of the property, Howells is now exploring a radical new strategy.
In 2009, Howells mined Bitcoin when it had little value, storing the private key on a hard drive. After it was mistakenly discarded, he watched the cryptocurrency's value skyrocket. Over the years, he proposed a £10 million excavation plan, supported by investors and environmental experts, offering the council 10% of the Bitcoin's value.
Citing practicality, laws, and environmental dangers, Newport Council rejected the scheme. Howells' legal quest for £495 million in damages or excavation was rejected. Although he recognized Howells' ownership of the Bitcoin itself, even if the hard drive is council property, Judge Keyser KC declared the lawsuit had "no realistic prospect" of success.
Although names like "Bin Coin" have been proposed in jest, Howells prefers "Ceiniog Coin," honoring his Welsh heritage, even though he acknowledges that the new plan won't bring his entire fortune back. "It's a small win, but better than just staring at the Bitcoin I can't access," he said. Although the Bitcoin is still buried, Howells' creative approach may finally turn his misfortune into a new chapter in cryptocurrency history.
thanks to all of you
https://x.com/Javidmalek61726/status/1877571018224709724
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Wow this is a very sad story although I had no experience with this story before I first heard about it from you thank you keep going love is endless
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Yes bro this story is very sad and I had a very good experience writing it
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That is really huge amount of bitcoin I must confess and also that must really be sad story. How do it happen. I guess it might be because of his carelessness also I guess so much
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Yes sir you are right, they did not know that the price of bitcoin could go this far. In a way they have been careless
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