British Man Demands He Be Allowed to Dig Through Trash to Find $500 Million in Bitcoin - Decrypt
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British Man Demands He Be Allowed to Dig Through Trash to Find $500 Million in Bitcoin
As a last-ditch effort, James Howells is bringing his disagreement with Newport council over his lost Bitcoin fortune to court in Wales. An IT engineer from Newport, Wales hasn’t given up on his discarded Bitcoin
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Summary
- 💰 A British IT engineer, James Howells, is suing Newport council for access to a landfill where he believes his discarded hard drive containing 8,000 Bitcoin, worth around $524 million, is buried.
- 🗑️ The hard drive was mistakenly thrown away in August 2013 when Bitcoin was valued at approximately $130, but its current value has skyrocketed to nearly $66,000 per coin.
- 🤝 Howells has offered Newport council 10% of the recovered Bitcoin's value and previously proposed a £52.5 million donation to support the council's COVID-19 relief fund, both of which were rejected.
- ⚖️ He plans to take the legal battle to court in December, stating that the council's refusal to negotiate in good faith left him with no choice but to pursue litigation.
- 🌍 Newport council cites environmental concerns and their authority over the landfill as reasons for denying Howells' requests, despite his ongoing efforts to recover his lost fortune.
Top Highlights
- British Man Demands He Be Allowed to Dig Through Trash to Find $500 Million in Bitcoin As a last-ditch effort, James Howells is bringing his disagreement with Newport council over his lost Bitcoin fortune to court in Wales.
- An IT engineer from Newport, Wales hasn’t given up on his discarded Bitcoin fortune yet. Now he’s pursuing legal means as a last-resort effort for digging through mountains of trash to find his lost stash. As reported by Wales Online, James Howells is now suing Newport council over local landfill access, claiming £495 million in damages—the peak v...
- When Howells’ partner mistakenly discarded 8,000 Bitcoin over a decade ago, the asset traded hands for around $130. Now it’s trading for nearly $66,000 a coin. Offering Newport council 10% of the value recouped from an organized dig, which would reportedly cost around £10 million, Howells’ repeated efforts have been rebuffed. While the dig wouldn’...
- The IT engineer told WalesOnline that his finances are “not in the best position,” and he’s struggling along as the legal matter develops. Howells added that he’s willing to take the battle all the way to the Supreme Court, if possible, as his final shot. Howells’ gave up his life as an IT engineer to try and recover his lost fortune, reportedly r...
- The IT engineer continues to weigh in on the conversation surrounding Bitcoin development. In May, he highlighted Bitcoin Cash’s so-called adaptive block size.
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