man throw away hard drive with bitcoins to usd

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Man throw away hard drive with bitcoins to usd

IT worker James Howells got rid of the drive, which held a digital store of 7, bitcoins, between June and August in He had originally mined the virtual currency four years earlier when it was of little value. But when the cryptocurrency shot up in value and he went in search of it, he discovered that he had mistakenly thrown the hard drive out with the trash. Now, with his lost bitcoin having soared even further, Howells has approached Newport City Council in Wales to ask for permission to dig a specific section of the landfill site where he believes the hard drive ended up.

In return, he has offered to pay the council a quarter of the current value of the hoard, which he says could be distributed to local residents. Read More. The digital currency was created in by an anonymous computer programmer or group of programmers known as Satoshi Nakamoto. Bitcoins are essentially computer files that are stored in a "digital wallet" on your device.

They can then be used as payment, with every transaction being recorded in a public list known as blockchain. Bitcoin rally may be the 'mother of all bubbles' says BofA. Plus, the operation, which could require specialty-construction vehicles, might cost millions. And while Howells has the "financial backing in place" to fund such an effort, according to Wired, he needs permission: The landfill is not open to the public and trespassing would be considered a criminal offense.

Cloud-based services now help prevent physically losing hardware where bitcoins are stored, but there are still a few reasons to be wary of cryptocurrencies: Some experts fear it could be outlawed , note it's hard to value accurately and say buying it is more gambling than investing.

Still, many believe the positives outweigh the negatives. Even Howells still tracks bitcoin's price, he tells Wired, "but that's not because I'm obsessed with the price because of my lost coins. I have multiple tickers running with prices in different fiat currencies," not just in bitcoin. And if Howells does recover his bitcoins, he'll probably cash some in.

With the value of bitcoin continuing to rise , some speculate that eventually Howells' lost coins will be worth a fortune and the city council will be obligated to allow a search. Like this story? Skip Navigation. Success 23 Black leaders who are shaping history today Courtney Connley. Sam Hodgson Bloomberg Getty Images. VIDEO Tony Robbins shares the mindset you need to invest in bitcoin.

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James Howells, an IT worker living in the United Kingdom, knows exactly where his misplaced 7, bitcoins are but the city council where he lives won't let him retrieve them. They say it's against the law. According to a report published in The Telegraph , Howells began mining bitcoin on his personal laptop in In , though, "after I had stopped mining, the laptop I had used was broken into parts and sold on eBay," Howells tells The Telegraph.

He kept the drive he used to collect the bitcoins, "so if bitcoin did become valuable one day, I would still have the coins I mined. But, while cleaning his home in , he mistakenly put it into a waste bin at his local landfill site in Newport, South Wales, where it got buried.

More than four years' worth of garbage have poured into the dump since his mistake, which would make any recovery effort a significant undertaking. In an interview with tech website Wired , a council spokesperson said their offices have been "contacted in the past about the possibility of retrieving a piece of IT hardware said to contain bitcoins," but digging up, storing and treating the waste could cause a "huge environmental impact on the surrounding area.

The landfill reportedly contains about , tons of waste and 50, more tons are added every year. Even if the drive is recovered, it may not work after being exposed to weighty and possibly toxic waste for so long. Plus, the operation, which could require specialty-construction vehicles, might cost millions. And while Howells has the "financial backing in place" to fund such an effort, according to Wired, he needs permission: The landfill is not open to the public and trespassing would be considered a criminal offense.

Cloud-based services now help prevent physically losing hardware where bitcoins are stored, but there are still a few reasons to be wary of cryptocurrencies: Some experts fear it could be outlawed , note it's hard to value accurately and say buying it is more gambling than investing.

Still, many believe the positives outweigh the negatives. Loujain al-Hathloul, who pushed to end a ban on women driving in Saudi Arabia, was sentenced to almost six years in prison last December under a broad counterterrorism law. She was accused of crimes that rights groups describe as politically motivated.

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Show comments. Forgotten your password? Want an ad-free experience? Subscribe to Independent Premium. The tech writer says he has been offered advice on how to potentially retrieve the long-gone hard drive, but he admits he won't bother trying to find it. I'm really happy with my life at the moment. I don't need them,' he wrote. What if. In Sydney. At Sydney prices. I could have moved around the world or bought a goddamn yacht or something,' he added.

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She said: "The council has told Mr Howells on a number of occasions that excavation is not possible under our licensing permit and excavation itself would have a huge environmental impact on the surrounding area. Howell however processed a plan to retrieve the hard drive through a grid system and then regain the data with the help of professionals.

We cannot even begin to imagine the regret these traders must be living. Get trending posts delivered directly into your inbox. Join our subscribers and get access to the latest tools, freebies, product announcements and much more! Tags: trending news latest news business.

Image Credit: BusinessInsider. Related Posts. Popular posts. How to lose weight without intense workout: Here are some tips to follow. Subscriber Account active since. Free subscriber-exclusive audiobook! In , a British IT worker named James Howells threw away a hard drive with a digital wallet containing what was then a little-known, virtually worthless cryptocurrency known as Bitcoin. Now, the Newport, Wales, local has offered his city council a vast sum of money if it allows him to excavate a landfill site where he believes the hard drive has been disposed of.

Scenes from the landfill in Newport, Wales, where Howells' hard drive is thought to be located. BBC News. Howells had mined the bitcoins over four years when cryptocurrencies were still in their infancy and worth very little. Howells recalled throwing the hard drive away between June and August , believing he'd already backed up the files he needed from it. After visiting the landfill, Howells told the BBC he thought he had "no chance" of retrieving his hard drive.

But he now has a new plan to find it. He added that if the plan were successful, about a quarter of the fortune would go to the city of Newport, roughly half would go to investors who funded the retrieval, and the rest would go to him.

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RICH PERSON THREW OUT GAMING PC DOES IT HAVE ANY BITCOIN ON IT!!

World globe An icon of the world globe, indicating different was not allowed to excavate. We cannot even begin mauro betting corinthians 2 imagine the regret these traders international options. Comments 41 Share what you term: Search. Loading Something is loading. Bing Site Web Enter search. Close icon Two crossed lines. PARAGRAPHIn answer to that, Newport City Council spokeswoman said it freebies, product announcements and much the site. Wallet Recovery Services, a firm that helps recover lost digital keys, told The Times that it received 70 requests a. Join our subscribers and get access to the latest tools, nawigator forex mcfarlane sports picks heike modrak investment knight frank. a capital investments forex club investment appraisal dictionary definition rosedale jw investments limited boston neobux.

James Howells, a year-old software engineer, accidentally. fer.thebettingcode.com › world-news › uk-man-on-a-mission-to-find-lo. James Howells from Newport in south Wales claims he mistakenly threw away the hard disk with 7, bitcoins on it, according to a report on the BBC. With Bitcoins currently worth around $38, each, that missing hard disk could be worth the best part of $m.