Man who accidentally threw out a bitcoin fortune offers $70 million for permission to dig it up | Crypto Craft

  • Man who accidentally threw out a bitcoin fortune offers $70 million for permission to dig it up

    From edition.cnn.com

    A British man who accidentally threw a hard drive loaded with bitcoin into the trash has offered the local authority where he lives more than $70 million if it allows him to excavate a landfill site. IT worker James Howells got rid of the drive, which held a digital store of 7,500 bitcoins, between June and August in 2013. He had originally mined the virtual currency four years earlier when it was of little value. But when the cryptocurrency shot up in value and he went in search of it, he discovered that he had mistakenly thrown the hard drive out with the trash.Now, with his lost bitcoin having soared even further, ... (full story)

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Not-KPMG
Jan 16, 2021 7:37am — Edited
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If he's such a dumpferster that he had no backup

He deserves to lose them


🐒😂😂😂😂



He was IT specialist 🙉😂😂😂
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Not-KPMG
Jan 17, 2021 5:43am
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Quoting yg10
Computer cannot be "loaded with bitcoin' Bitcoins are are kept in the blocjain. So he needs to identify his wallet and to get private key. For $70 mln he get quite a few computing resources for this task.
You're mooooron.


His wallet is on his hard drive dumbooooooo
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Not-KPMG
Jan 20, 2021 4:52am
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Quoting yg10
{quote} If you read about blockchain instead of posting tons of gifs, maybe you will make less stupid statements. But this is not guaranteed .
Schmuck

Don't call me stupid

I've been in Bitcoin 7 years



You said something dumb and silly - blaaaa he need to find wallet blaaaaa Bitcoin on blockchain blaaaaa......

How's that helpful



Wallet is on computer (plus backup if any) not in some magical BLOCKCHAIN where all go and grab bitcoin like banana


Grow up
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Not-KPMG
Jan 20, 2021 5:01am
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Quoting LloydOz
{quote} So,.. ticket - lose it and there is no proof. Fragile. Lose ya credit card or forget ya PIN (similar to a cyber "wallet"?), or its .... whatever, all is not lost. I

This fragility feature of Bitcoin is in no way consistent with inalienable property rights

.
You're wrong pal.

You forget what Bitcoin is : a totally secure solid money that no bank can stop and no government can seize

If what you say is true.... Say YOUR GOVAMAAANT has a backup of your keys and funds (Bitcoin) then what's stopping the govamaaant to steal from you, to inflate the supply or to just ban your assets????


In short - if you relinquish personal responsibility and your Bitcoin, you may as well use the govamaaant paper trash????

Why use Bitcoin if you trust govamaaant



Bitcoin is both independence and responsibility
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yg10
Jan 17, 2021 4:10am
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Computer cannot be "loaded with bitcoin' Bitcoins are are kept in the blocjain.
So he needs to identify his wallet and to get private key. For $70 mln he get quite a few computing resources for this task.
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yg10
Jan 17, 2021 1:21pm — Edited
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Quoting Not-KPMG
{quote} You're mooooron. His wallet is on his hard drive dumbooooooo
If you read about blockchain instead of posting tons of gifs, maybe you will make less stupid statements. But this is not guaranteed

.
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Not-KPMG
Jan 16, 2021 7:36am
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Well.... Small chance of recovery.



And HE is not offering the money. Venture fund is.
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Not-KPMG
Jan 20, 2021 5:03am
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Discuss in Crypto thread
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LloydOz
Jan 17, 2021 9:59pm — Edited
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Quoting Not-KPMG
If he's such a dumpferster that he had no backup He deserves to lose them He was IT specialist
So, should this all be correct, its just a little bit troubling, isn't it? Beggars belief.

I don't recommend chucking out hard drives/SSD whatever, but they also do sometimes fail without very much warning (well, for me, anyway).

Yes yes, everyone is ordered to back up stuff, but really, why do today what you can do tomorrow? I'm beginning to think cyber currency may be a bit like a lotto ticket - lose it and there is no proof. Fragile.

Lose ya credit card or forget ya PIN (similar to a cyber "wallet"?), or its hacked by low-lives, whatever, all is not lost. Isn't this how cyber currencies should be, except times by a zillion?

If your Will goes missing, there is a duplicate held elsewhere. If you lose your land title deeds or citizenship/marriage/birth certificate, there is proof held in some orifice. Your educational records. Many many other examples (maybe not in China or Nth Korea).

This fragility feature of Bitcoin is in no way consistent with inalienable property rights which are so fundamental to most things we take for granted in a well functioning economy. I find it difficult to believe that there are so few little independent safeguards/cross references, whatever. This is really basic stuff.
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