Newport Council refuse potential share of Bitcoin fortune

Newport Council refuse potential share of Bitcoin fortune

Newport Council refuse potential share of Bitcoin fortune

Narrating how he came about the Bitcoin fortune, Howell who is an IT engineer said he got the assets via miner's reward during the period when it was possible to mine the cryptocurrency using CPU.

A Welshman was on Friday offering local officials a GBP 50 million coronavirus relief fund if they let him search a landfill for a hard drive containing bitcoin worth GBP 210 million which he dumped in 2013.

Per the South Wales Argus and the BBC, James Howells accidentally threw away his hard drive, full of tokens he bought "for nearly nothing" back in 2009, during a clear-out in 2013.

According to Howells, all he needs is access to the landfill records to identify the exact grid location of the hard drive for a targeted search of the facility.

Howells threw the tough disk absent in 2013, acquiring believed that he experienced transferred the bitcoin wallet to a new computer system.

But now they are worth nearly 50 times more, with the cost of a single bitcoin currently just over £28,000 after a surge in value.

"The value of the hard drive is over £200m (around $273 million) and I'm happy to share a portion of that with the people of Newport should I be given the opportunity to search for it".

Qld hotel walls swabbed for United Kingdom virus
He tested negative while in hotel quarantine and was released but then returned a positive test when recently returning to work. The pair have brought the Grand Chancellor Hotel cluster to six cases.

Mr Howells claims that the project to get back the hard drive is being financed by a hedge fund company, with a good chance of success due to how the Council dealt with waste at the time that the hard drive was thrown away.

He threw the drive away during an office clearout in 2013, having forgotten that the bitcoin he acquired for a paltry sum four years earlier were still on the memory device.

"The first time was several months after Mr Howells first realised the hardware was missing".

It said in a statement: "Newport City Council has been contacted a number of times since 2014 about the possibility of retrieving a piece of IT hardware said to contain Bitcoins".

Reacting to the development, a spokesperson of the Newport City council said several factors, such as cost, licensing permit, and environmental implication of excavating the site were the reason behind denying Howells' request.

"Even if we were able to agree to his request, there is the question of who would meet the cost if the hard drive was not found or was damaged to such an extent that the data could not be recovered".

"We have, therefore, been clear that we can not assist him in this matter".

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.