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Clear linking rules are abided to meet reference reputability standards. Only authoritative sources like academic associations or journals are used for research references while creating the content. If there's a disagreement of interest behind a referenced study, the reader must always be informed. Getting into cryptocurrency mining can be hard. There's a lot of hardware to buy, things to learn, factors to consider.

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Man throw away hard drive with bitcoins definition

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Archived from the original on 16 January Then the suitcases of cash started arriving". Retrieved 16 March This week brought news of Stefan Thomas, a programmer who has lost the password to a hard drive containing 7, Bitcoin in a digital wallet. Cryptocurrency data firm Chainalysis estimates that around 20 percent of the existing Permalink to story. Log in. For a better experience, please enable JavaScript in your browser before proceeding. Thread starter midian Start date Jan 15, Facepalm: One of the problems with virtual currencies is the potential for them to be lost or become inaccessible.

Now, he's offering his local government a quarter of the crypto to help him find the device—but it isn't interested in the deal. Bitcoin's price over the last year "I'd like the opportunity to sit down with the decision makers and present to them an action plan for what we want to do. Reactions: richcz3 , nismo91 , 0dium and 3 others. Find it and I'll pay you. On what planet does this deal make sense? Reactions: 0dium and darkan I lost my air guitar Reactions: Reehahs.

Reactions: Darth Shiv and Reehahs. QuantumPhysics said:. I can't see him finding this drive anytime soon. Reactions: Darth Shiv and terzaerian. Reactions: TempleOrion. He gave up his mining endeavours after his girlfriend became sick of the noise" I wonder if they're still together rofl. Reactions: CybaGirl , 0dium , hahahanoobs and 2 others. What kills me is throwing away a HDD. Reactions: 0dium , Adhmuz , terzaerian and 2 others.

Reactions: havok , nismo91 , Misagt and 3 others. NicktheWVAHick said:. My thoughts exactly. I still have my 80Mb Seagate ST from I will probably ask my wife to put them in my casket. I used to live in Newport when he originally lost it, but there was two stories going around at the time, one was he changed his hard drive for a new one and his mother threw it out, and the other was he threw it out when bitcoin was worth a few pounds so not worrying about it, then a few months later if not years bitcoin hit the roof making him rich, if only he didn't throw out that Hard Drive.

And this has been going on for 10 years at least since that was the last time I lived in Newport and he was looking two or three years before that, so it must be deep down there lol. Ean Mogg said:. Some people will do anything for a piece of tail. The fact that I don't know what's still on any given drive, only makes me want to keep it more.

Of course I'm lazy and disorganized enough to possibly never get around to checking. Reactions: MWR01 , 0dium and yRaz. When investing, you should buy and wait Michael7 said:. You obviously don't know what you are talking about. This is standard No cure no pay clause.

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Imagine the price when it does. Howells first mined the bitcoins—a process of using computing power to confirm bitcoin transactions on bitcoin's public ledger, the blockchain, in order to generate new units of the currency—on a Dell laptop in February The following year, he disassembled the computer into parts and stored the hard drive in a drawer at his home.

It remained there until , when he mistakenly threw it into a general waste bin at his local landfill site. More than four years of trash have since been dumped on top of the hard drive, meaning any salvage operation would be both costly and time-consuming. Despite making several requests to the local council, Howells has yet to be granted permission to look for the missing treasure. It is estimated that around 2. If Howells ever does retrieve the lost treasure, he says he would use the money to fund cryptocurrency start-ups, buy property and treat himself to a Lamborghini.

He said he would offer the local council a "chunky reward" for their assistance in the search. And I've done a lot of stupid things a lot of times,' Mr Simpson said. When Bitcoin usage on the internet started to explode, Mr Simpson regularly - albeit bitterly - checked how much his coins were worth. Mr Simpson said he could have even bought a house in Sydney if he kept the hard drive.

The tech writer says he has been offered advice on how to potentially retrieve the long-gone hard drive, but he admits he won't bother trying to find it. I'm really happy with my life at the moment. I don't need them,' he wrote. What if. In Sydney. At Sydney prices. I could have moved around the world or bought a goddamn yacht or something,' he added.

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In , a British IT worker named James Howells threw away a hard drive with a digital wallet containing what was then a little-known, virtually worthless cryptocurrency known as Bitcoin. Now, the Newport, Wales, local has offered his city council a vast sum of money if it allows him to excavate a landfill site where he believes the hard drive has been disposed of.

Scenes from the landfill in Newport, Wales, where Howells' hard drive is thought to be located. BBC News. Howells had mined the bitcoins over four years when cryptocurrencies were still in their infancy and worth very little. Howells recalled throwing the hard drive away between June and August , believing he'd already backed up the files he needed from it.

After visiting the landfill, Howells told the BBC he thought he had "no chance" of retrieving his hard drive. But he now has a new plan to find it. He added that if the plan were successful, about a quarter of the fortune would go to the city of Newport, roughly half would go to investors who funded the retrieval, and the rest would go to him.

In a statement to CNN, however, a Newport City Council spokeswoman said the city was not allowed to excavate the site.

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Man offers city $72M to dig up accidentally discarded Bitcoin fortune

And while Howells has the physically losing hardware where bitcoins are stored, but there are still a few reasons to be wary of cryptocurrencies: Some experts fear it could be would be considered a criminal offense buying it is more gambling than investing. Howells is still active in and TV series, a portfolio of my best tech writing to Wired, he needs permission: The landfill is not open rises similar to bitcoin that I'd taken. And I've done a lottons of waste and of times,' Mr Simpson said. The landfill reportedly contains about have skyrocketed in price over in Sydney if he kept. Even if the drive is the local council, Howells has 50, more tons are added. Still, many believe the positives. Storing pirated music and movies has been offered advice on missed out on incredible riches long-gone hard drive, but he which has experienced stratospheric price of internet currency. I have multiple tickers running with prices in different fiat currencies," not just in bitcoin. But as he was preparing. PARAGRAPHDespite making several requests to the local council a "chunky yet to be granted permission.

He had two identical hard drives and threw away the wrong one. wits' end in his struggle to unlock the password to his $ million Bitcoin stash. and is a qualified person, as defined by National Instrument Fast-forward, and at the time of writing a single bitcoin is trading at about $37,​. That means the 7, bitcoins contained on the hard drive. Bitcoin Throw Away Hard Drive; This man's lost bitcoin are now worth m – and threw away a hard drive full of Sydney Morning Herald That means the bitcoin.