If 569 million pounds is converted into RMB, it would be equivalent to about 5.19 billion yuan, but if measured in Bitcoin, there are less than 8,000 bitcoins.
But in any case, this wealth is equivalent to the value of a small gold mine.
But for a British programmer, this unprecedented wealth that originally belonged to him was buried deep in an ordinary landfill in Wales.
So, what was going on? If he knew where his wealth was, why didn't he dig it out?
James believes that Bitcoin is buried
The immense wealth in the landfill
In 2009, for most people, it was just an ordinary year, but for James Howells, it was a crucial turning point in fate. A careless action made him miss out on immense wealth.
At that time, Bitcoin had not yet become the digital gold pursued by everyone, and James, as a programmer, out of curiosity, chose to buy nearly 8,000 Bitcoins and stored the private keys on a computer hard drive.
Years later, the hard drive was mistakenly discarded as garbage by James's ex-girlfriend Eddie during a cleanup and was ultimately buried in a landfill near Newport City.
James's ex-girlfriend Eddie
At first, neither of them took this matter to heart, until the value of Bitcoin began to soar, and James suddenly remembered the hard drive that he had long forgotten and realized that he had missed the opportunity to become a billionaire.
According to the current market value, these Bitcoins are worth as much as £569 million, which even exceeds the personal wealth of the British Queen during her lifetime.
The temptation of immense wealth led James on a long 'treasure hunt' journey, and after many twists and turns, he confirmed that his lost hard drive was buried in a landfill.
Landfill
Thus, he began to apply to Newport City Council to excavate the landfill, hoping to recover his lost hard drive, but for over a decade, the city council has rejected his requests on the grounds of environmental pollution, high excavation costs, and potential safety risks.
After all, landfills are not just simple garbage dumping sites; their internal environment is complex and filled with various harmful substances and gases.
Large-scale excavation not only destroys the structure of the landfill but may also release harmful substances, posing a threat to the surrounding environment and residents' health.
Not to mention, mining work requires a significant investment of manpower and resources, so the city council believes that taking on such a huge risk and cost for an uncertain outcome is clearly irresponsible.
However, James believes that the city council's refusal is an obstruction to him obtaining his legitimate property. He even proposed that if he successfully finds the hard drive, he will donate 10% of the profits to the local government for urban development.
This huge donation undoubtedly has great appeal for Newport City and complicates the dispute further.
James seeks clues about Bitcoin
The conflict between environmental protection and economic interests has become the core contradiction of this game. The city council insists on the position of environmental protection, believing that environmental safety is a non-negotiable red line.
James was driven by immense wealth, trying to exchange economic interests for mining opportunities.
Since his initial application was rejected in 2013, James has never given up searching for the lost Bitcoin. He has repeatedly submitted applications to the city council, trying various methods to persuade them, but each time ended in failure.
James holding the same model hard drive
The city council firmly stated that excavating the landfill would cause irreversible damage to the environment, and finding the hard drive may not necessarily lead to data recovery, so it is not worth the risk.
However, James has made tremendous efforts to achieve his goal. He not only resigned from his job and devoted himself wholeheartedly to the 'treasure hunt' operation but also initiated crowdfunding to raise substantial funds to hire professional search personnel and data experts.
He also found data experts who collaborated with NASA, promising high returns if they could recover the hard drive's data.
James stubbornly guards the landfill
Even with the assurance of data experts, the city council still rejected his request, believing that assurance does not equate to factual evidence and cannot be used as a basis for approving excavation.
The city council's attitude is firm, seemingly without any room for compromise.
Faced with the city council's repeated rejections, James ultimately chose to resort to legal action. Initially, he accused the city council of seizing his hard drive and misappropriating assets, but this accusation was not supported by the court.
James
Under the advice of a gold medal legal team, James changed his litigation strategy to accuse the city council of seizing the hard drive and infringing on the intellectual property on his hard drive.
Countless local residents support his lawsuit, hoping he can find the Bitcoin and benefit the entire city. His ex-girlfriend Eddie has also publicly expressed hope that he can find the hard drive soon and end this protracted dispute.
James's ex-girlfriend Eddie
However, this still does not change the Newport City Council's insistence on its previous position, believing that James's accusations are unfounded and all evidence is based on speculation and assumptions.
Public opinion has also expressed different views on this lawsuit. Some people support James, believing he should have the right to claim his property, while others think James's behavior is too persistent and poses a threat to environmental protection.
The information above comes from: Jimu News, November 26, 2024, 'Girlfriend accidentally throws away £569 million Bitcoin, man has been tugging with the council for 11 years for a treasure hunt.'
The risks and management of digital assets
The dispute between James and Newport City Council is not just a battle over wealth but also highlights the risks and challenges of digital asset management.
James stored nearly 8,000 Bitcoin private keys on a single hard drive, which undoubtedly poses a huge security risk. If the hard drive is lost or damaged, the digital assets will face irretrievable losses.
Bitcoin
In James's case, the focal point of the controversy is whether the city council has the authority to prevent James from excavating the landfill. Although the city council rejected James's request on the grounds of environmental protection, the law does not explicitly state how to handle such situations.
This makes it difficult for James to protect his rights through legal means and brings uncertainty to the handling of similar events in the future.
After realizing the hard drive was lost, James attempted to restore the data through technical means. He hired a professional data recovery team and promised high rewards if they could successfully recover the data.
James
However, due to the hard drive being buried in the landfill for a long time, it would inevitably be eroded by various dirt and corrosive substances, making data recovery extremely difficult.
Even if the hard drive is found, it may not be possible to successfully recover the data.
Hard drive
And this protracted 'treasure hunt' not only brought economic losses to James but also had a huge impact on his personal life.
Due to long-term pressure and anxiety, James's relationship with his ex-girlfriend Eddie ultimately broke down, and their two sons were raised by his ex-girlfriend.
It can be said that James Howells's experience is a cautionary tale about wealth and responsibility in the digital age. It reminds people to value environmental protection, personal responsibility, and the improvement of the law while pursuing wealth.
Bitcoin
In the digital age, the value of digital assets is increasingly prominent, and their safe management has become more important. People should learn from James's lessons and take effective measures to protect their digital assets to avoid similar tragedies from happening again.
People should also strengthen their awareness of environmental protection. While pursuing economic interests, they should also consider the sustainable development of the environment.
At the very least, this incident reminds people of the importance of personal responsibility. In any case, one should be responsible for their actions and avoid unnecessary losses due to personal negligence.
James
Currently, the game between James and Newport City Council continues, and the final ruling will play an important guiding role in handling similar events in the future.
Regardless of the outcome, this incident will become an important case in the digital age, provoking deep reflection on digital assets, environmental protection, and personal responsibility.
Perhaps this game has no winner. It warns everyone that in an era swept by the digital tide, how to balance wealth and responsibility will be a subject everyone must face.
The information above comes from: Yangcheng Evening News, July 25, 2022, 'Carelessly throwing away about £1.2 billion! Man wants to spend over £70 million to recover 8,000 Bitcoins.'
Conclusion
The wave of virtual currency has made many people wealthy overnight, but it has also caused many to lose their original intentions. Perhaps only by rationally viewing its value can one see through its essence.
For James, although he might find back his lost wealth, he can never regain the eleven years of time.
James