Bitcoin is a form of digital currency, often referred to as cryptocurrency or virtual money. Unlike traditional currencies, it exists solely in digital form, with no physical coins or notes.

Becoming rich often requires hard work, while some people get lucky overnight. But sometimes, fate takes a cruel turn, as happened to a man whose fortunes changed because of one mistake. Imagine losing something worth Rs. 6,290 crore due to a single error. That’s exactly what happened to a man in the UK, who had a chance at billions but ended up losing everything.
James Howells, a resident of the UK, told the High Court that he had bought Bitcoin in 2013 when it wasn’t worth much. Today, the value of that Bitcoin has skyrocketed to £59.8 million (Rs. 6,290 crore). However, James revealed that a friend’s mistake led to the hard drive containing his cryptocurrency details being thrown away.
In 2013, Howells said he placed that hard drive in a plastic bag, which his former partner then erroneously took straight to the dump, depositing it in a large waste bin. The hard drive ended up in the landfill site in Newport. James has appealed to the court for permission to search the landfill to retrieve the hard drive.
What did the High Court say?
The High Court rejected James Howells’ appeal and denied him permission to search the landfill for his hard drive. James had argued that the value of his cryptocurrency was increasing and had requested a team of experts to locate the hard drive. He even offered to share profits with the council if the hard drive was recovered. However, the Newport Council told the court that, according to current laws, any item dumped in a landfill becomes the council’s property. Environmental laws also prohibit retrieving items from the landfill. Hence, the court dismissed James’ plea.
Why was the appeal rejected?
High Court judge Keiser KC stated that James had no valid legal grounds to claim ownership of the hard drive. There was also no clear reason to proceed with a trial. The judge emphasized that there was no legal basis to move forward with the case. Bitcoin, introduced in 2009, had no value initially, but its price has now reached USD 100,000. James claimed his Bitcoin’s value could soon rise to £1 billion.
How difficult is it to find the hard drive?
James explained to the court that the Newport landfill contains about 1.4 million tons of waste, and the area where the hard drive might be is buried under approximately 100,000 tons of garbage. He believes that recovering the hard drive could lead to his Bitcoin being worth over £1 billion (Rs. 10,500 crore) in the future. However, the court’s decision has dashed his hopes.
What is Bitcoin?
Bitcoin is a form of digital currency, often referred to as cryptocurrency or virtual money. Unlike traditional currencies, it exists solely in digital form, with no physical coins or notes.