Following the recent news of a San Francisco-based programmer having trouble remembering the password for a $ 220 million bitcoin digital wallet, a long-standing story about yet another “loser” surfaced on the network.
According to The Guardian , computer engineer James Howells is offering Newport City in Britain £ 50 million ($ 68 million) to find a hard drive he threw away years ago. This disc was supposed to end up in a local landfill, and it had 7,500 bitcoins on it.
If the HDD is found in working order, then the sale of bitcoins at the market price should bring about $ 286 million. This is not the first time James has approached the authorities with a request, but now his offer has grown to 25% of the total Bitcoin supply.
Howells explained that he was ready to pay part of the amount immediately, but until now the city authorities refused to arrange a hunt, which could end in nothing.
If I can access the landfill records, I can determine the week I threw the disc away, as well as the serial number of the garbage can.
Sounds simple, but it really isn’t. About seven years have passed since the loss, and all this time the disk was surrounded by debris. Not to mention that excavations can lead to an ecological disaster, releasing tons of methane and other gases into the air.
It is not surprising that the authorities are not prepared to take such a risk, given that the hard drive could be damaged long ago. And the consequences can be much more expensive than the engineer suggests.