Earlier this year, Bitcoin saw a historic boom. Earlier, the people who were cashing this digital currency kept rubbing their hands. At the same time, James Howells, a Welsh IT engineer, is searching for his lost hard drive in the garbage which could fetch him 20 billion rupees. Actually, this hard drive had a cryptographic ‘private key’ store. Welsh had 7,500 bitcoins and this ‘key’ is important for cashing them.
Hard drive was thrown in the garbage
Welsh has told CNBC he accidentally threw the drive into the trash in 2013. He has since been requesting the Newport City Council to find him so that he can get that code. However, the administration is not allowing it citing environmental and economic burden. There is also no guarantee that now the drive will come to work. However, Bowles has not given up hope. They believe that even if the drive is damaged from the outside, data recovery experts can extract data from it.
Officers not listening
Howells has also proposed to the administration that if he gets the money through the drive, he will give 25% of the share to the city’s Covid-Relief Fund. However, the authorities are not ready to listen to him. He has said that the administration has refused directly without hearing the plan. On January 8, the price of bitcoin reached about 42 thousand dollars. However, later it also saw a steep decline. In such a situation, those who look at cryptocurrencies with suspicion argue that bitcoin can never become a viable alternative to currency.
Newport City Council has also confirmed that Howells has appealed to authorities several times since 2013 but says it will cause huge environmental damage. Officials say digging, storing, and treating landfills can be costly. This can have a negative impact on the surrounding area and there is no guarantee that the drive will be found or will be in running condition.