Man Who Dumped Millions of Dollars in cryptocurrency Bitcoin Now Wants to Find Them
About 10 years ago James Howells dropped a hard drive while cleaning. They forgot it contained their bitcoins.
Now that his bitcoins Cryptocurrency are worth an estimated $184 million he plans to spend millions digging up the New port United Kingdom UK landfill in an attempt to find the missing Disk hard drive.
Howells have-said that if they get hard drive back they will donate 10 percent of their profits to turn the city into a cryptocurrency hub.
But local authorities have-already said that mining at the landfill poses an environmental threat.
Howells is a computer engineer & accidentally dropped a hard drive in 2013 after mining 8000 bitcoins during the coin early development stages.
Value of Bitcoin fluctuates wildly. For example in January 2021 Howells bitcoins were worth around $250 million but this year has-seen a huge drop.
Newport City Council administrator of landfill has consistently refused access to the site to excavate it for environmental & accessibility reasons.
Retrieving the hard drive will require a lot of manual excavation work to remove the thousands of tons of compacted debris that has accumulated at site for decades.
But these computer engineers believe they now have-funds and knowledge to do this in an efficient & environmentally beneficial way for the site.
James Howells said that the excavation of the landfill is a big operation in itself. Funding has-been secured & we have hired an artificial intelligence expert. Their technology can easily be trained to find hard drives.
Not only that but we also have an environmental team. Basically we have a whole team of different experts with different skills & together we will-be able to complete the work to a very high standard.
Significant Environmental Threat
But finding the hard drive is only part of the job. There is no guarantee that even if it is found it will recover.
But if it happens its owner will get a serious amount but the actual amount will-depend on direction of this highly volatile cryptocurrency.
In any case it is likely to be several hundred thousand dollars
From this will also be deducted the amount that Howells has promised to give to the local population ie 10 percent. And they have in mind how they will-invest from them. We have a whole list of measures he says.
Once we,ve cleared that land & reclaimed it it is going to be planned to generate electricity maybe some wind turbines. & maybe bitcoin mining facility.
will-be for the local population and clean electricity will be generated from the turbines to generate cryptocurrency for the people of Newport.
Among his many plans is to give every person in Newport around $60 in bitcoins and install cryptocurrency based terminals in all stores but officials have responded to each of Howells requests with denials.
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We have-legal obligations that we must comply with in managing the landfill a spokesman said.
Part of these duties he said is to protect the site and surrounding areas from environmental hazards. Mr. Howells proposals would pose a significant environmental risk that we cannot accept & in fact cannot accept because of the terms of the landfill management agreement so these applications are not being considered.
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