Throwing Bitcoin worth IDR 8.2 T in the trash, this man sues the local council

Bittime - A British man, James Howells, is involved in a legal dispute with a local council in Wales after accidentally throwing away a hard drive containing 8,000 Bitcoins (BTC) which is now worth around IDR 8.2 trillion. 

This incident occurred in 2013 when Howells threw away the hard drive with other trash. At that time, the value of Bitcoin stored in it was estimated at around IDR 14.5 billion, but now the value has jumped drastically to more than IDR 8 trillion.

Efforts to Repossess Assets

Howells, who is 39, has been a Bitcoin miner since 2009. He has been trying to get the hard drive back by appealing to Newport Council, which manages the landfill where it was dumped. 

Despite making several appeals, Howells felt his requests were often ignored by the local council.

Also read What is City Holder?

Legal Steps Taken

Now, Howells is taking legal action by suing the council, demanding compensation of 495 million pounds (around Rp. 9 trillion), which is the highest value Bitcoin has ever reached at the beginning of this year. 

He hopes to "force" the council to agree to carry out an excavation at the landfill site to recover the missing hard drives. This case is scheduled to be heard in December.

Massive Excavation Plan

As part of his plan, Howells has assembled a team to undertake a $13 million excavation. The team included the former head of the landfill, who claimed to know the specific area where the hard drives were likely located. The excavation process is expected to take between 18 and 36 months, plus a year for environmental restoration after excavation.

Rejection from the Board

However, Newport council has rejected Howells' request to carry out the excavation, citing concerns about the environmental impact it would have. 

Howells stated that he remains willing to provide 10% of the value of the found Bitcoin as compensation to the board, which is currently estimated at around IDR 754 billion. He is optimistic that if the excavation is successful, the value that can be obtained in the future will be much greater.

Valuable Lessons from This Story 

Howells' story became part of the Bitcoin mythos, drawing attention to the value of the digital asset and the consequences of decisions made by many people. 

Currently, many are awaiting the outcome of this lawsuit, which not only impacts Howells, but also serves as a valuable lesson for Bitcoin investors and miners around the world.

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