Author Topic: Man Throws Away Trove of Bitcoin Worth $7.5 Million  (Read 860 times)

Sergeant Bob

  • friend
  • Senior Member
  • ***
  • Posts: 5,861
Man Throws Away Trove of Bitcoin Worth $7.5 Million
« on: November 28, 2013, 09:17:53 AM »
Quote
As Bitcoin hit $1,000 dollars on Wednesday morning, a lot of early adopters saw their Bitcoin, bought or mined for cheap years ago, turn into a high-return investment. And some forgot they bought Bitcoin years ago, only to realize they were suddenly rich.

However, there are also those on the other side of the Bitcoin — so to speak — and British IT professional James Howells may be the unluckiest of them all. According to The Guardian, Howells mined 7,500 Bitcoin in 2009 and kept it in a hard drive until last summer, when he threw the drive away without realizing he was throwing away a fortune.

At the time, his Bitcoin stash was worth around $675,000. Now, it would be worth $7.5 million.

Howells reportedly threw the hard drive in a landfill near Newport, Wales, that is the size of a soccer field, meaning it's now somewhere buried under at least four feet of garbage. Worst of all, he never backed it up.

"I'm at the point where it's either laugh about it or cry about it," Howells told The Guardian. "Why aren't I out there with a shovel now? I think I'm just resigned to never being able to find it."

He says he won't go and look for the hard drive himself, because authorities told him it would be almost impossible to find; but he has set up a new Bitcoin wallet asking for donations that would go towards funding a recovery effort.

http://mashable.com/2013/11/27/man-throws-away-millions-of-bitcoin


That would seriously ruin your day. I wonder if the feds will come along and try to tax him on it?
Personally, I do not understand how a bunch of people demanding a bigger govt can call themselves anarchist.
I meet lots of folks like this, claim to be anarchist but really they're just liberals with pierced genitals. - gunsmith

I already have canned butter, buying more. Canned blueberries, some pancake making dry goods and the end of the world is gonna be delicious.  -French G

Monkeyleg

  • friend
  • Senior Member
  • ***
  • Posts: 14,589
  • Tattaglia is a pimp.
    • http://www.gunshopfinder.com
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #1 on: November 28, 2013, 11:47:05 AM »
For that kind of money I'd be out there digging no matter what the odds of not finding it.

lee n. field

  • friend
  • Senior Member
  • ***
  • Posts: 13,611
  • tinpot megalomaniac, Paulbot, hardware goon
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #2 on: November 28, 2013, 11:47:27 AM »
I'm reminded of Jesus' parable about the value of the kingdom of God.  

You know it's there.  Do what it takes, get out there and find that hard disk!
In thy presence is fulness of joy.
At thy right hand pleasures for evermore.

Northwoods

  • friend
  • Senior Member
  • ***
  • Posts: 8,365
  • Formerly sumpnz
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #3 on: November 28, 2013, 12:12:58 PM »
I'm reminded of Jesus' parable about the value of the kingdom of God.  

You know it's there.  Do what it takes, get out there and find that hard disk!

Chances of the drive having any readable data by now is about nil.  They're not hermetically sealed so water and goodness knows what else will have heavilly contaminated it by now.  Plus it's likely heen crushed several times by landfill vehicles by now too.

What he should have done is backed up the data knowing that it was worth  several hundred thousand pounds back then.  That dude got what he deserved if he didn't consider that worth spending some resources on backing up.
« Last Edit: November 28, 2013, 12:20:38 PM by sumpnz »
Formerly sumpnz

vaskidmark

  • National Anthem Snob
  • friends
  • Senior Member
  • ***
  • Posts: 12,799
  • WTF?
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #4 on: November 28, 2013, 12:47:24 PM »
1 - prove he had them
2 - prove he threw away the HD
3 - take a loss on taxes
4 - pay the Inland Revenue the tax on the value he threw away even though he threw it away

Sounds like a plan.

stay safe.
If cowardly and dishonorable men sometimes shoot unarmed men with army pistols or guns, the evil must be prevented by the penitentiary and gallows, and not by a general deprivation of a constitutional privilege.

Hey you kids!! Get off my lawn!!!

They keep making this eternal vigilance thing harder and harder.  Protecting the 2nd amendment is like playing PACMAN - there's no pause button so you can go to the bathroom.

Lee

  • friend
  • Senior Member
  • ***
  • Posts: 3,181
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #5 on: November 29, 2013, 01:39:44 PM »
Or start a cable tv show about mining for bitcoin. Winner gets half the pot.

MillCreek

  • Skippy The Wonder Dog
  • friend
  • Senior Member
  • ***
  • Posts: 20,017
  • APS Risk Manager
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #6 on: November 29, 2013, 02:51:15 PM »
Chances of the drive having any readable data by now is about nil.  They're not hermetically sealed so water and goodness knows what else will have heavilly contaminated it by now.  Plus it's likely heen crushed several times by landfill vehicles by now too.


I am not an expert, but I have hired experts to do forensic data recovery.  I have been amazed at some of the scenarios in which they have been able to recover data, wholly or in part, from hard drives that have gone through fire, flood and pestilence.  From them, I have learned that if you want to ensure that your data cannot be retrieved, apparently the best bet is to physically smash, crush or grind the the hard drive such that all the platters are in little bits.  This probably explains why so many of the IT guys I know, when we are disposing of computers at the hospitals, not only run the drives through a demagnitizer, but they then use them as targets at the local shooting pit.  They only do that for the financial/business computers, though.  Anything with patient information on it goes through a monitored and tracked destruction process.
_____________
Regards,
MillCreek
Snohomish County, WA  USA


Quote from: Angel Eyes on August 09, 2018, 01:56:15 AM
You are one lousy risk manager.

Brad Johnson

  • friend
  • Senior Member
  • ***
  • Posts: 18,113
  • Witty, charming, handsome, and completely insane.
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #7 on: November 29, 2013, 04:29:05 PM »
Yan completely an irretrievably eliminate a bitcoin account by losing a single hard drive just like losing a document file?  There is no tracking information on the incoming funds?  None at all?  Something here just isn't adding up?

Brad
It's all about the pancakes, people.
"And he thought cops wouldn't chase... a STOLEN DONUT TRUCK???? That would be like Willie Nelson ignoring a pickup full of weed."
-HankB

Fitz

  • Face-melter
  • friend
  • Senior Member
  • ***
  • Posts: 6,254
  • Floyd Rose is my homeboy
    • My Book
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #8 on: November 29, 2013, 04:44:44 PM »
Yan completely an irretrievably eliminate a bitcoin account by losing a single hard drive just like losing a document file?  There is no tracking information on the incoming funds?  None at all?  Something here just isn't adding up?

Brad

THat's kinda the point. Unless you back them up, there IS no tracking, no proof you bought them.

Can't have tracking/recovery options and preserve anonymity
Fitz

---------------
I have reached a conclusion regarding every member of this forum.
I no longer respect any of you. I hope the following offends you as much as this thread has offended me:
You are all awful people. I mean this *expletive deleted*ing seriously.

-MicroBalrog

Brad Johnson

  • friend
  • Senior Member
  • ***
  • Posts: 18,113
  • Witty, charming, handsome, and completely insane.
Re: Man Throws Away Trove of Bitcoin Worth $7.5 Million
« Reply #9 on: November 29, 2013, 07:35:49 PM »
Sooo let me get this straight... People are buying pseudo-currency via electronic transfers over a public network and expecting it to be untraceable and anonymous?  Didn't we just have many months of public banter over how un-anonymous, un-private, and ridiculously hyper-patrolled the interwebz are by our friends in the fed.gub?  I may be a bit naïve, but seems like a massive contradiction and reality disconnect.  What important middle part am I missing?

Brad
« Last Edit: November 29, 2013, 07:39:07 PM by Brad Johnson »
It's all about the pancakes, people.
"And he thought cops wouldn't chase... a STOLEN DONUT TRUCK???? That would be like Willie Nelson ignoring a pickup full of weed."
-HankB

Fitz

  • Face-melter
  • friend
  • Senior Member
  • ***
  • Posts: 6,254
  • Floyd Rose is my homeboy
    • My Book
Re:
« Reply #10 on: December 02, 2013, 01:29:10 PM »
BTC can be purchased face to face for cash

Sent from my RM-860_nam_usa_100 using Tapatalk
Fitz

---------------
I have reached a conclusion regarding every member of this forum.
I no longer respect any of you. I hope the following offends you as much as this thread has offended me:
You are all awful people. I mean this *expletive deleted*ing seriously.

-MicroBalrog