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Uk Officials Won't Allow Man To Search For His $127 Million Worth Of Lost Bitcoins



Why would they do that...

Bitcoins and Value

Bitcoins and Value

Bitcoins have taken the world aback by their value. Many didn't trust and some who did, are getting what they deserve. But one such guy is now crying over as his 7,500 bitcoins, which he mined are lost and cost over $127 million.

Meet James Howells

Meet James Howells

James Howells is a United Nations based IT worker and one of the luckiest bitcoins miner ever. Why? Because this man accidentally lost his 7500 bitcoins that cost over $127 million. According to the report published in The Telegraph, Howells had been mining bitcoins on his personal laptop in 2009. The laptop he used was then all broken and in 2013, he sold his broken parts on eBay.

Kept Them Safe Yet Lost Them

Kept Them Safe Yet Lost Them

Howells had however made his bitcoins safe by keeping the hard drive with him so that one day if their value rose, he would make his benefit. But then bad things happen even to good people. One day while cleaning his house, he accidentally dropped the hard drive in the waste bin at his local landfill site in Newport, South Wales, where it got buried.

Wants To Retrieve It

Wants To Retrieve It

Howells actually knows where his hard disk is and wants to retrieve it. He took permission from the city council for retrieving it. It is a very big deal as it has been four years since his mistake and lot of garbage worth four years has been dumped into that place. "A modern landfill is a complex engineering project and digging one up brings up all sorts of environmental issues, such as dangerous gasses and potential landfill fires," Howells says. "It's a big, expensive and risky project."

No Permission

No Permission

The Newport city council is having issues in granting Howells the permission to retrieve the hard disk. The council spokesman in an interview with tech website, "Wired" mentioned about an IT employee  "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." They have their own reasons for not granting the permission.

Howells says

Howells says

Howells very well knows all the reasons behind the council's decision of not granting the permission. It would be an environment harming project as well as millions would be needed to spend on it. They also pointed out that the device might not work after years of exposure to weighty and possibly toxic waste. “It is likely that the hardware would have suffered significant galvanic corrosion due to the presence of landfill leachates and gases,”. Howells still follows the changes in bitcoin’s price, “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,”

Dreams

Dreams

When asked what would he do with the prize if he got it, Howells said “Who knows for sure? I probably would have sold 30 or 40 percent in 2013 to invest in property and other cryptocurrencies.”  If the bitcoin continues to rise the way it is going now, the city council might allow a search after all, and Howells said: “And obviously, they would get a nice percentage as a gift or donation.” Waiting for the story to unfold with full curiosity.



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