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When Losing 7,500 Bitcoins Costs You £75 Millions

A man who’s lost his Bitcoins.

Credit: Pixabay

This is James Howells an IT worker from Newport, Wales. He claims to have lost 7,500 Bitcoins in mid-2013 that would be worth around £75 million today.

First, Howells began mining Bitcoins back in February 2009, and recollected 7,500 bitcoins, and located it in a computer hard drive which ended up buried in a landfill.

Nevertheless, Ruben Grinberg in 2012 defined Bitcoin as “a digital decentralised, partially anonymous currency, not backed by any other legal entity and not redeemable for gold or other commodities”

Here is a video explaining what Bitcoin is:

Furthermore, Howells explained to The Telegraph how he lost the computer drive,

“After I had stopped mining, the laptop I had used was broken into parts and sold on eBay,” he told The Telegraph.
“However, I kept the hard drive in a drawer at home knowing it contained my bitcoin private keys, so that if bitcoin did become valuable one day I would still have the coins I had mined.”
He continued telling them, “In mid-2013 during a clear-out the hard drive- then worth a few hundred thousand pounds – was mistakenly thrown out and put into a general waste bin at my local landfill site, after which it was buried on site.”

In addition, cryptocurrency value has increased from £7.5 million in 2013 to 1 Bitcoin equalling £8704.77.

Also, Howells plans are to recover his computer drive from the landfill but he is aware of the dangers and environmental issues this would bring, he would have to dig tons of waste to find 2013 waste.

Finally, Newport City Council can have a say on this, if they notice the value bitcoin has then, Howell would be allowed to recover his drive, or at least that is what he hopes they will do.

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