Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Even though the task seems nearly impossible, Howells isn’t giving up. He now says that if he finds his missing bitcoins, he will build a crypto hub in the city of Newport.
- James Howells makes plans with bitcoins, though he can’t find them yet.
- Perdió 7.500 BTC en un vertedero hace 9 años.
- He’s been working to find them and has yet to dive into the trash.
The story of the Wales resident who lost a hard drive containing a fortune ofbitcoinsgo to taking new turns as he holds out hope of recovering his lost treasure.
Now, James Howells says that if he manages to get his missing cryptocurrency fortune he plans to open a tech hub in the city of Newport, UK. Of course, it all depends on a number of assumptions, starting with the monumental task of finding the dream device. Then fingers would have to be crossed that the hard drive would work to carry out the plans.
A needle in a haystack, or about Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in a landfill
James Howells is a computer engineer who claims to have lost a sum valued at more than USD $160 million from Bitcoin after mistakenly throwing away a hard drive with the passwords to access his cryptocurrency wallet. His curious anecdote is not new and the we have been reporting for the last four years.
Howells claims that he had approximately 7,500 BTC that he had generated through cryptocurrency mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. during the first few years after the emergence of Bitcoin . However, in a cleanup in 2013, he mistakenly discarded the hard drive that held the private keys to access those funds. Since then, he has been pursuing various efforts to recover his money.
But searching for your hard drive seems to be a task almost or more difficult than finding a needle in a haystack. After almost 10 years of garbage accumulation, it is estimated that your storage device is submerged among more than 100,000 tons of junk.
Howells, however, is not giving up and has repeatedly petitioned the Newport City Council for permission to go in and dig for his treasure. He doesn’t plan to do the search alone, as he has a plan to implement state-of-the-art technologies, including artificial intelligence (AI) and robot dogs, to sift through the debris.
In a recent interview for Business Insider The engineer revealed the plans after securing an investment of US$11 million from venture capitalists to finance the project, although those funds still depend on authorization from the authorities to actually enter the landfill.
Howells doesn’t give up (just need to find the treasure).
The slim odds of finding the hard drive in working order haven’t taken Howells’ hopes away, even after nine years of waiting for permission from City Hall. The engineer has been making plans on how he might tap into the funds once he recovers his keys to Bitcoin .
Howells told the BBC this week that, if he finds fortune, expects to allocate 10% to turn the city of Newport into an attractive cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. hub. The money would be used to fuel a variety of cryptocurrency-based projects, according to the report. Among his proposals, he also wants to to award a sum of £50 (USD $60) in Bitcoin to every person in the city and install digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency-based terminals in all stores in that location.
The 37-year-old has already pledged much of his lost coins to fund his search plan. He has also offered City Hall authorities a donation of 25% of the funds in BTC – if found – if they change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. their negative stance on accessing the landfill.
Cabe señalar que sus bitcoins lost are no small feat: they are worth more than USD $165 million according to the day’s prices. The sum was even worth over $500 million when the cryptocurrency hit record highs last year.
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Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash