James Howells, an IT engineer from Newport, #wales has officially failed in his decade-long legal battle to recover a hard drive containing 8,000 Bitcoin (BTC) worth over 750 million USD, buried in a Newport landfill since 2013.

Reasons for Failure

  • Court Ruling: Judge Keyser KC dismissed Howells' request, stating that the lawsuit lacked a 'reasonable basis' for success, and emphasized the environmental risks of excavating the landfill.

  • Newport Council's Argument: The city council asserted that the hard drive was their property when abandoned at the landfill, and that excavation would violate environmental permits, harming the local ecosystem.

Howells' failed attempt

  1. Financial Proposal: Howells once offered to pay up to £10 million (12.3 million USD) for a sponsored excavation plan by investors, while committing to share 10% of the Bitcoin's value with the community.

  2. Legal Demand: He requested access to the landfill or compensation of 608 million USD, equivalent to a large portion of the value $BTC at its peak.

The Long Loss Story

  • Origin of the Incident: In 2013, Howells' hard drive containing Bitcoin was accidentally thrown away by his girlfriend during an office clean-up.

  • Value Surge: From a few cents in 2009, the Bitcoin on this hard drive has increased in value over 704,000 times by 2024, making the loss increasingly painful.

  • Accusing the Council: Howells once accused the Newport Council of environmental violations, claiming the landfill was leaking toxins like arsenic into the environment.

Last Hope

Although the ruling dismissed the excavation request, the court did not challenge Howells' ownership of the Bitcoin. He is considering turning the inaccessible Bitcoin into a new cryptocurrency through tokenization.

"This landfill is like a super secure vault," Howells shared, expressing his determination to find another solution to recover the value. However, he admitted that excavation is now 'impossible.'

Conclusion

James Howells' story is a vivid illustration of how small mistakes can lead to huge losses, raising many questions about asset ownership in the digital age. Will this Bitcoin 'treasure' ever be rescued, or will it forever lie beneath the Newport waste? Time will tell.