Summary
James Howells lost 8,000 Bitcoins worth over £500 million when he accidentally threw away a hard drive containing his private key.
He has been trying to retrieve the hard drive from a Newport landfill for over a decade, but the council has refused to allow him access.
Howells is now suing the council for £495 million in damages.
Makes me remember the guy buying pizza for like 35.000 Bitcoins.
He was always so angry because people thought he only bought one (1) pizza, but it was actually several pizza.
He got over it and said he’d probably had cashed out at btc at 1 dollar and flamed it all.
“alright, here’s a shovel, get to it.”
James was then suddenly aware of how big a landfill really was.
“No, you can’t use a bobcat.”
They’re not letting him do it even with a shovel. It’s a pointless endeavour that will only create disruptions at the dump, risk his life and probably public safety.
I pity the guy somewhat. It would be absolute gut wrenching knowing you’ve lost a life changing amount of money. But this reeks of desperation and taking out your anger on somebody else for your own mistake. Now he’s suing the council after failing to bribe them with something that may or may not be recoverable. And if successful, lines his own pockets at the expense of his community’s.
Accept the expensive life lesson for what it is and move on… It sucks but it’s your own flaming fault and nobody owes you a thing.
With headlines like this, it’s always important to keep in mind that bitcoin is such a thinly traded (and largely artificial) market that actually trying to sell 8,000 Btc for real dollars/pounds would instantly and catastrophically crash the price.
I agree with everything you said but 8000 bitcoin won’t move the price much. We’ve seen management firms buying hundreds of millions worth of bitcoins
Different dynamics. Buys require sellers, of which there are a fair amount (though few enough still that large purchases absolutely do shift the price significantly; we’ve seen multiple instances of Tether bringing the price up by 20% or more for the cost of billion newly minted USDT). Sells require buyers, which are in very short supply.
Got it thank you for the explanation
Yes and no.
The ETF changed the dynamics of BTC a little.
Now there’s an introductory price for Bitcoin once it hit the stock market, and there’s interest and reason for holders to not want it to go lower than that price. $55k thereabouts is when the ETF began.
Also, people are using Bitcoin like an index fund. They get paid, they invest. Every paycheck.
It’s an odd thing to watch. I don’t see another huge crash, but I don’t see miracles, either. BTC has no use as a fast method of payment. Store-of-value is all it has.
He can’t really prove it even exists.
The bitcoin? It doesn’t.
Functionally, it doesn’t, and it’s only a function to begin with.
Least delusional crypto bro
I’ve heard about this guy before but I didn’t realise it was already worth so much at the time he lost it. I do feel sorry for him as it must suck to know you lost that much money from a simple mistake
In Finland we have this saying “voiko vitutukseen kuolla?”
