Justified & Ancient
- Sep 2, 2015
Plus, he gave his occupation as a "personal banker". These are the people that have their own cubes in the bank, not the tellers, advising people on their financial goals among other things. So knowing the risks of investments is literally his job.In the US any investment has to either be noted as "FDIC Insured" ( government insurance plan for savings accts) or with serious standard language about risk. So he really really knew about the risk.
You wouldn't throw away £4 million, would you?
James Howells searches for hard drive with £4m-worth of bitcoins stored
A Newport man has been searching a landfill site in south Wales hoping to find a computer hard drive he threw away which is now worth over £4m. :shock:
James Howells's hard drive contains 7,500 bitcoins - which is a virtual form of currency for use online. ...
FULL STORY: https://blockchain.news/news/bitcoiner-to-conduct-robotic-search-for-8000-btc-lost-in-landfillBitcoiner to Conduct Robotic Search for 8,000 BTC Lost in Landfill
James Howells, a Bitcoiner that mistakenly threw away a hard drive containing 8,000 Bitcoin units he mined back in 2009, has reportedly put up a highly specialised team to help dig up the landfill where the hard drive allegedly ended up.
Since he realised the mistake, Howells has been petitioning the Newport City Council to let him dig up the hard drive from the landfill that is estimated to contain around 110,000 tons of garbage. The plan to excavate the garbage is billed to be backed by as much as $11 million in venture capital funding.
The two investors that have promised the funds, including Hanspeter Jaberg and Karl Wendeborn, are not going to release it until Howells gets the City Council’s approval to dig up the site. ...
Howells has notably been on the neck of the City Council to dig the site, but his request has been met with a series of denials. The Council officials justify its stance on the premise that the excavation will pose ecological risks, a negativity Howells said he and his team would do their best to minimise.
Besides himself, Howells will sift through the garbage with the help of human sorters, robot dogs, and an AI-powered scanner that looks like a conveyor belt. Data analysts will also be working with the team. ...
I saw a story on this and I don't understand the Council's position. He has sufficient capital to be as careful as necessary and he's probably offered them a per centage. It's a garbage dump. I think it's likely they don't understand the problem. If you replace "bitcoin" with "Czar's jewels" I think they would approve it.Thirteen years after ditching the hard drive containing 8,000 Bitcoin units, Howells is still trying to assemble an arrangement for excavating the Newport landfill in search of it. According to my calculations the units would be worth more than US $175,000,000 nowadays.
FULL STORY: https://blockchain.news/news/bitcoiner-to-conduct-robotic-search-for-8000-btc-lost-in-landfill
Given that it is buried somewhere under 13 years worth of rubbish and that there is no guarantee that the Bitcoin would even be recoverable, I reckon the investors would be far better off just keeping their millions. It seems like a trendy version of the Oak Island mystery to me.Thirteen years after ditching the hard drive containing 8,000 Bitcoin units, Howells is still trying to assemble an arrangement for excavating the Newport landfill in search of it. According to my calculations the units would be worth more than US $175,000,000 nowadays.
How could you say "no" to a new, trendy version of the Oak Island mystery?Given that it is buried somewhere under 13 years worth of rubbish and that there is no guarantee that the Bitcoin would even be recoverable, I reckon the investors would be far better off just keeping their millions. It seems like a trendy version of the Oak Island mystery to me.
Those who think that they, too, could live the life of the billionaire ... without actually doing anything.Why would anyone think that virtual land has any value?
sounds like an example of "if it sounds too good to be true"
Crypto Darling Helium Promised A ‘People’s Network.’ Instead, Its Executives Got Richhttps://www.forbes.com/sites/sarahe...rypto-tokens-peoples-network/?sh=553191127316
It took a while, but it's out now at The Verge. Loren also interviewed.Crossover of cryptids and cryptocurrency.
I was contacted by Vergecast to talk about this. So, that's a thing.
FULL STORY: https://www.bbc.com/news/technology-63547765Stolen $3bn Bitcoin mystery ends with popcorn tin discovery
The US Department of Justice has revealed it seized $3.36bn (£2.9bn) of Bitcoin last year which was stolen from an infamous darknet website.
The stash of 50,676 Bitcoin was found hidden on various devices in a hacker's home in an underfloor safe and inside a popcorn tin.
James Zhong has pleaded guilty to hacking the funds in 2012 from the illegal Silk Road marketplace.
US authorities say the seizure is the second largest in history.
The police raid at Mr Zhong's Georgia home was carried out a year ago but only revealed now.
It came at the same time as Bitcoin's value peaked - the seized funds would now be worth about $1.1bn.
Officers say they found the Bitcoin dotted around his home on hard drives and other storage devices in an underfloor safe and on a tiny computer hidden inside a popcorn tin in a bathroom closet. ...
Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.
Former boss Sam Bankman-Fried has also stepped down as chief executive, the company said.
It is a massive turn of fortunes for the 30-year-old, who had headed the world's second largest crypto exchange.
In just over a week, his FTX empire has collapsed, shaking confidence in the already troubled crypto market.
Bankman-Fried? Surely not his real name!
https://en.wikipedia.org/wiki/Sam_Bankman-FriedBankman-Fried was born in 1992 on the campus of Stanford University into a family of academics ... the son of Barbara Fried and Joseph Bankman, both professors at Stanford Law School.