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bitcoins worth millions lost in landfill design

James Howells, a computer engineer, proposes using robot dogs and a metal arm to recover a hard drive that he lost in The Bitcoin hard drive found its way into the landfill by accident. Howells threw it away instead of throwing away an empty hard drive. But he. James Howells, a year-old software engineer, accidentally threw away his hard drive containing bitcoins at least eight years ago, which is. SCOTIA DIRECT INVESTING CANADA

Howells went home and examined the dump on Google Maps. The object is findable. However, Legrand needs only a shovel to start digging. To some, the ease with which the coins had come to Howells seemed like a fantasy or a story from an already distant past: Nakamoto had designed bitcoin mining so that it required more and more computer power as the number of unmined coins decreased. Today, according to a Times report , it would require an American home with average electricity consumption at least thirteen years to mine a single bitcoin.

Others were eager to lend a hand in recovering his drive. At first, Newport officials said that if they found the drive they would of course give it back, but later they adopted a more hard-line stance. How could Howells be sure that the hard drive had been placed in the landfill? In any case, they cautioned, the drive was likely unusable: it would have been destroyed en route to its noxious burial place.

And, besides, the environmental risk of a retrieval would be too great. Howells studied the technology behind hard drives and came to believe that the city officials were wrong. Although the covering of the drive was metal, the disk inside was glass. He conceded that the hard drive would have been subjected to some compacting when it was layered in with soil and other trash. He was certain that, as long as that part of the disk was undamaged, he could recover his fortune.

As Howells tried to ready a plan to present to officials in Newport, the value of the cryptocurrency kept rising. More and more garbage piled on top of the hard drive, and the private key for his bitcoin sank deeper and deeper. He kept pleading his case to city officials. He thought of suing Newport, but such moves, commonplace in America, are rare in the United Kingdom. As a systems engineer, he knew how to organize a project, and through the years he assembled an increasingly sophisticated strategy for finding the hard drive.

He met with potential investors, and eventually made arrangements with two European businessmen who agreed to support a recovery operation. Howells would get only about a third of the proceeds. He had hoped for a much higher sum; the money was his, after all. He became increasingly convinced that this was a realistic path.

The city did not accept his offer. He had thought that he was striking a blow for the little guy by mining bitcoin; now it was clear that, in Newport at least, little guys still had no power. She listened politely to his proposal to recover the bitcoin, at no cost to the city, but was not persuaded.

Howells, there is absolutely zero appetite for this project to go ahead within Newport City Council. Months of silence followed. We had been talking and texting for nearly a year, mostly on the messaging app Telegram. He had been by turns evasive and defensive, often coming across as an unyielding cyber libertarian.

Tech shaped his world view. On October 21st, the day I arrived in Newport, the value of a bitcoin had just hit a new peak: nearly sixty-seven thousand dollars. Howells met me by the train station, wearing jeans and a crisp sweatshirt from Lonsdale. He drives a twenty-year-old BMW convertible that he bought before his bitcoin days. He is small and fit, with a skin-fade haircut and a light-brown half beard. The over-all effect was of concision and capability. Moments after we sat down in a coffee shop, he pulled out his phone and showed me an app that he uses to track his holdings.

We had Welsh pancakes, and he paid with cash. As we drove across the River Usk, he mentioned that, in , while the city was building a new arts center along its banks, workers had dug up a fifteenth-century Iberian sailing ship. The next day, we visited the local antiquities museum, where he showed me a cooking pot, likely belonging to a Roman soldier, that had been buried in a nearby field.

From the shattered remains trickled a trail of coins. Howells compared them to his buried hard drive, then corrected himself: the coins were not like bitcoin at all. Sometimes, he explained, messengers and go-betweens had clipped off a bit of precious metal to repay themselves for the trouble of handling transactions. The percentage of silver in Roman coins kept declining, setting off runaway inflation. The widespread use of bitcoin, he assured me, would prevent a similar economic collapse.

We went to the dump. It was a bucolic site between an estuary and docks where, many years ago, ships had been loaded with Welsh coal. Derricks stood idle. Newport felt rickety: faded signs on small businesses, empty land where factories had once stood. As he drove, Howells mused on why the local officials had refused to allow him to dig up his hoard.

He theorized that the dump had not been following environmental regulations, and that unearthing a section of landfill could embarrass the city and make it vulnerable to lawsuits. James Howells, the man who made headlines after he lost 8, bitcoins on a hard drive that he accidentally threw away, has a master plan to get his cryptocurrency back.

Howells threw out the hard drive containing the bitcoins in It ended up in Howells' local landfill in Newport, Wales. Howells told Insider his plan budgets for two robotic "Spot" dogs from Boston Dynamics. Since then Spot has been used to perform scans for construction projects, herd sheep, and patrol parks in Singapore to enforce social distancing.

Howells told Insider the robots would be used both for security as roaming CCTV cameras and to scan the ground to search for his missing hard drive. He said the project would require two dogs so one could be on patrol while the other charges its battery.

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James has been trying to find it since James once was interviewed by The Guardian as he was trying to find the hard drive in the landfill. Once he explained the situation to one of the people working there, they took him to the place. At the time, the landfill was about the size of a football field, and it was about feet deep. So, finding a small hard drive in such a small space would be like finding a pin in a haystack.

A more important thing to consider would be the fact that the hard drive is most likely damaged and inoperable. Recently, James has been taking help from local residents to help him find the hard drive. And in case someone is able to do so, and the drive is readable, he will be paying them in millions. A lot of Bitcoin is lost this way. He had two identical drives in his drawer.

One was blank and the other contained thousands of Bitcoins he had mined. He realized his mistake months later. The hard drive that Howells mistakenly threw out supposedly had between 7, and 8, Bitcoins. Article continues below advertisement Did the Welsh man find the Bitcoin in the landfill? Howells has been seeking permission from Newport's city council to search the landfill for the hard drive drive, though the council has repeatedly denied his requests. According to the city council, the work Howells intends to carry out raises environmental concerns and could disrupt operations at the landfill.

However, Howells has drawn up a plan and assembled a team of experts to try to persuade city council. Although the drive is thought to have been in the landfill for years, Howells believes it will still be in working order if retrieved. Article continues below advertisement What does Howells plan to do if he recovers the lost Bitcoin?

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Man accidentally buries half a billion dollars of Bitcoin in landfill

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bitcoins worth millions lost in landfill design


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Man Searches Through Landfill For 8 Years For $350 Million Lost Bitcoin Wallet

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