I wouldn’t like to be in the shoes of this man!
Whaaaat, 7,500 Bitcoins all gone to waste? That is worth $87 Million damn dollars now!
He should be gnashing his teeth and cursing his stars now, for losing the hard drive.
Well that is one disadvantage of storing your cryptocurrencies offline.
This is similar to the story about the man who exchanged his 10,000 Bitcoins for a common Pizza!
Goodness gracious, if only he knew how crazily Bitcoin would appreciate in price.
What is mind blowing is this is not even the end; the only way for Bitcoin now is up, up and up!
This is going to hunt these men for the rest of their lives!
Anyway, check the story out:
“There were the times when Bitcoin was considered to be a strange experiment and its price was very small and laughable in comparison to the recent $11,000 record. During those times, a man in Great Britain has managed to acquire 7500 bitcoins and stored it on a hard drive. At the moment of acquisition, Bitcoin cost 1240 dollars per one coin.
In 2013, this man somehow lost the precious storage in the garbage and he had to go to a local landfill and still searches after all this time. Local officials tell that the disk might have become corrupted and even he finds it, there is no guarantee he is going to access it.
The situation becomes even more tantalizing for James Howells, because he can see the sum through the remote interface and how it grows overtime, but he cannot withdraw it.
The Newport landfill is full of rubbish, and sadly, it looks more like he is not going to find it.
The Russian technology website found this story on Guardian and contacted Mr Howells — he tells the HDD is still somewhere in the rubbish and officials are very skeptical he is ever going to find it.
This, by the way, highlights the negative side of the hardware storage: while they are very secure for coins and comparable to fire protection safes or even bank vaults we use for fiat money, once you keep the cryptocurrency on a wallet like this, it becomes an object you do not want to be stolen or lost. A combination of a security box in a respected bank with a hardware wallet could be the best solution for both keeping coins secure and well-placed.”