James Howells, an IT Engineer, is offering a percentage of his Bitcoin stash to the Newport City council to dig up a hard drive containing over 7,000 bitcoins that he accidentally discarded.
Howells Seeks to Recover 7,500 BTC
According to the South Wales Argus, James Howells was renewing his appeal to the city council to be given permission to dig up the harddrive. The report noted that the discarded hard drive contained 7,500 BTC (about $290 million).
Back in 2013, the IT Engineer in the process of doing some cleanup, accidentally threw away the hard drive containing the BTC stash. Although Howells did not immediately realize his mistake, the Newport resident later started making moves to recover the lost device from the landfill site.
However, the Newport city council rejected Howells’ earlier pleas to dig up its landfill site. According to the city council, the IT Engineer has been trying to contact the city on the possibility of retrieving the device since 2014.
Furthermore, the authorities said that their reason for turning down Howell’s appeal was that such excavation efforts were detrimental to the environment. However, Howells is ready to offer 25 percent of his BTC worth, which is around $71.6 million, to search for the discarded hard drive.
According to Howells, the fund would be used to support the city’s COVID-19 Relief Fund. Howells is also conscious of possible environmental pollution during the process, and has made plans to prevent pollution.
Speaking on the determination to locate the lost Bitcoin, the IT Engineer said:
“There is no guarantee of that [it still working] because of the environment it’s been in, but there are things that give me confidence. The outside case might be rusted. But the inside disk, where the data is stored, there should be a good chance that it still works. I believe there still will be a chance. But the longer this drags on though, it’s less likely to be a possibility.”
3.7M BTC Likely Lost Forever
While Howells may be doing everything to get his lost Bitcoins, the Newport City Council seems reluctant to oblige the request. The authorities are concerned about the resulting cost if the entire exercise becomes futile. Meanwhile, Howells noted that funds would be placed in an escrow account if things do not go as planned.
Howells is one of the many bitcoin holders who have lost their BTC either by forgetting their keys, or erroneously sending bitcoin to wrong addresses. As reported by BTCManager earlier in January, a BTC holder lost 2.6 BTC after making a costly mistake.
Many holders are desperate to recover their lost bitcoin stash, as spot price is experiencing a parabolic advance. According to a Chainalysis data, 20 percent of all existing bitcoin — 18.5 million BTC — is possibly lost in stranded wallets.
Wisebitcoin Opens Aggregate Trading For STORJ Against USDT
[PRESS RELEASE – Please Read Disclaimer]
Wisebitcoin listed the STORJ/USDT aggregate trading pair on June 3, 2021.
With aggregated trading, instead of supporting deposits and withdrawals, Wisebitcoin uses an aggregate trading system that automatically takes buy and sell orders from its own users and places those orders on other exchanges. In this way, users can rest assured that the assets or tokens that are purchased via aggregated trading are all real assets that are in full reserves.
Aggregate trading makes it easy for growing platforms such as Wisebitcoin to quickly provide users with access to new and popular crypto tokens and assets.
The local and external order matching mechanisms used in Wisebitcoin’s aggregate trading system provide transaction speeds and user experiences that are similar to those seen when placing orders for other trading pairs on Wisebitcoin.
To meet the deposit and withdrawal requirements of users, Wisebitcoin will evaluate the volume of its aggregate trading tokens to determine whether to dock with project wallets that contain a large number of tokens or assets.
By providing liquidity, fast transactions, low fees, and a clean, intuitive UI to traders, Wisebitcoin makes it easy to invest in the crypto space and to trade popular, high market cap tokens and assets. By adding aggregate trading for STORJ to the platform, Wisebitcoin opens the doors to investment in one of the most popular decentralized file sharing and storage projects seen in the last few years.
Storj delivers secure, private, reliable, affordable, and decentralized cloud object storage for developers. Storj’s Decentralized Cloud Storage (DCS) files are encrypted, broken into pieces, and then distributed across a global cloud network instead of being stored on a single, centralized server. This makes data breaches impossible, and default encryption comes standard for all files. A decentralized network of Storage Nodes also makes data always available when it is needed, and open-source, full-stack compatibility makes it easy to build on the network.
Dave Portnoy Disasgrees with Donald Trump That Bitcoin is a Scam
The CEO and founder of Barstool Sports – Dave Portnoy – admitted that at the beginning, he thought Bitcoin was a ”Ponzi scheme.” Eventually, he changed his stance and even opposed Donald Trump, who called the primary cryptocurrency a ”scam.”
Trump Is Wrong
In a recent interview for ”Varney & Co,” the founder of Barstool Sports – Dave Portnoy – shared his current view on bitcoin and the crypto market. He revealed that years ago, when the primary digital asset was introduced, it looked like a ”Ponzi scheme” to him, but later he started realizing its merit:
”I thought when Bitcoin was first introduced and for a long time that it was a Ponzi scheme. I’ve come around on it. It’s too widely accepted, there are too many people using it, too many big people believe in it, too many stores accepting it. There’s liquidity. You can get in and out of it easily.”
Recently, the ex-US president Donald Trump said Bitcoin looks like a scam and backed up the dollar as the ”world’s currency.” Portnoy opposed Trump even though he also had his doubts about the asset in its first years :
”I don’t know what it started as, but I certainly wouldn’t say it’s a scam now.”
Later on, the founder of Barstool Sports commented on the recent decline of the crypto market. He raised hopes that soon enough, digital assets will increase their fiat currency value. In his opinion, investors should be patient with them and hold on ”for the long game:.”
”Crypto isn’t going anywhere but it’s hard to brag about how great everything is going when you are down 50%.”
Portnoy’s Change of Heart
In September 2020, Portnoy pointed out that bitcoin lacks accountability due to the anonymity of Satoshi Nakamoto. As a result, if investors end up losing money or being scammed, they would prefer to know who’s the person behind the entire operation. He went even further, calling it ”one big Ponzi scheme.”
It is worth mentioning that at some point, Dave Portnoy invested in the primary digital asset. He tweeted about a loss of $25,000 and stated that he currently owns zero bitcoins. Additionally, he vowed to interact with the stock market rather than the crypto one:
”I don’t need this. I know how the stock market works. I own the stock market. This Bitcoin – I don’t trust this market at all.”
In any case, it now seems that he has changed his stance on the primary cryptocurrency and he even flat-out said that he was wrong about it.
Rich Millennials Have a Large Chunk of Their Wealth in Crypto: CNBC Survey
Nearly half of the young investors with at least $1 million in their portfolio responded that they had located a large share of their funds in cryptocurrencies. Older generations, though, prefer fiat money.
Crypto Is a Trend among The Millennials
According to a CNBC survey with 750 participants, almost 50% of millennial millionaires have invested at least 1/4 of their wealth in cryptocurrencies. In comparison, more than 30% of them have located at least half of their assets in crypto. The company, which conducted the analysis, was Spectrum Group. Its president – George Walper – explained why the younger generations find the market so tempting:
”The younger investors jumped on it early when it was not as well know. They were more intellectually engaged with the idea even though it was new.”
On the other hand, the majority of older investors owning at least $1 million are not fond of digital assets as 83% of them do not believe in the crypto market and have none of their wealth in it. As a matter of fact, only 1 in every 10 keeps more than 10% of their funds in cryptocurrencies:
”Older investors and the boomers were largely saying ‘Is this legit?’ Older generations are further behind on the understanding.”
In addition, nearly half of millennial millionaires revealed owning NFTs while 40% consider it as a future option. Interestingly, most survey participants were not familiar with what exactly non-fungible tokens are, but they still described them as ”the next big thing.”
14% of Americans Own Crypto
At the end of April, the Winklevoss-run crypto exchange Gemini conducted another survey indicating that roughly 14% of US citizens had purchased digital assets. Two-thirds of the respondents classified themselves as ”crypto curious” while 23 went into the “disinterested” graph.
Somewhat expectedly, bitcoin (BTC) has remained the most popular cryptocurrency as nearly all questioned people (95%) answered that they are familiar with it. 87% of those who have invested said that BTC is what they own. The Americans showed good knowledge of altcoins too, as 36% have put some of their wealth in ether (ETH), 22% in Bitcoin Cash (BCH), and 16% in Litecoin (LTC).
Like the CNBC survey, Gemini found out that most crypto investors are young people between 25 and 44. According to the collected data, the trading venue noted that ”the ”average” cryptocurrency owner is a 38-year-old male making approximately $111K a year.”
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