Personal Finance and Investing

IcyPeas

(23,596 posts)

4. I noticed while doing my taxes that there is now a section on cryptocurrency

Thu Apr 17, 2025, 07:56 PM

Apr 17

I don't get it to be honest. This story was interesting :

Bitcoin buried in Newport landfill

In 2013, James Howells mistakenly disposed of a laptop hard drive containing the private key for 8,000 Bitcoin in the Docksway landfill in Newport, Wales.[a] Howells subsequently assembled a team of specialists and secured funding to excavate the site, but Newport City Council refused permission, citing the cost and environmental impact of the search. If the coins are discovered, Howells proposes distributing 30% of the proceedings among the council and the population of Newport.

As of February 2025, the missing Bitcoin was worth £597 million (US$751 million). In December 2024, Howells sued the council for £495 million, with the council contesting that the device is now its property. The attempted recovery of the missing Bitcoin has been likened to a digital treasure hunt. Howells and his team are confident that retrieval of the data remains possible, while the council continues to profess its scepticism. Following a hearing, the High Court dismissed Howells' claim in January 2025, ruling that it had no prospect of success.

The entire story is pretty interesting. Pretty devastating for the guy.

https://en.m.wikipedia.org/wiki/Bitcoin_buried_in_Newport_landfill

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Why don't we all use bitcoin? [View all] mdmc Apr 17 OP

Bitcoin is private enterprise, US Treasury is public. /nt bucolic_frolic Apr 17 #1

thanks for the reply.. mdmc Apr 17 #3

I don't understand how they have any value other than money laundering. I think doc03 Apr 17 #2

The big money return in crypto is::: Norrrm Apr 17 #7

what do you think about my idea of holding bitcoin for my kids? mdmc Apr 21 #12

I admit I know next to nothing about Bitcoin, but people were making millions back doc03 Apr 22 #17

thanks for the reply mdmc Apr 22 #18

I think of bitcoin as a future currency - I plan on leaving my bitcoins to my sons mdmc Apr 21 #11

If you can buy low and they can sell high, go for it. Norrrm Apr 21 #15

Thanks for the reply mdmc Apr 21 #16

If you want to buy NFT's you need ETH womanofthehills May 11 #29

thanks for checking in.. mdmc May 15 #40

I noticed while doing my taxes that there is now a section on cryptocurrency IcyPeas Apr 17 #4

I've heard that story! mdmc Apr 22 #19

I try very had to avoid scams. -misanthroptimist Apr 17 #5

You can actually buy Bitcoin thru PayPal womanofthehills May 11 #31

I asked your question on DuckDuckGo JoseBalow Apr 17 #6

thanks mdmc Apr 21 #13

No problemo JoseBalow Apr 21 #14

Weird as my transactions took seconds. womanofthehills May 11 #33

Bitcoin is loved by criminals & dark web. Outside of that it's no better than meme stocks like DJT & tRump's scam coin.n Bernardo de La Paz Apr 17 #8

oh my mdmc Apr 25 #21

Wrong - the young love Bitcoin womanofthehills May 11 #34

Your statement does not contradict mine or make it wrong. The two groups can separately love it. . . nt Bernardo de La Paz May 11 #35

Despite its name, it is not a currency created by the government to facilitate commerce. surfered Apr 17 #9

It has no ties to the production of goods and services. I would stay away from it. everyonematters Apr 17 #10

I've had people ask me what the dollar is based on.... A HERETIC I AM Apr 24 #20

US dollar based on US production. Bitcoin based on convenience for shadows, no production, no "store of value". . nt Bernardo de La Paz Apr 25 #22

Wouldn't bitcoin buyers back bitcoin? mdmc May 6 #23

That they back it does not provide a base. They can sell it down just as easily as buy it up. . . . nt Bernardo de La Paz May 11 #37

Too complicated for now brokephibroke May 7 #24

thanks for the link mdmc May 11 #25

Dave Troy hannah May 11 #26

Not sure who that is brokephibroke May 11 #38

I have a wallet but you can also buy Bitcoin on PayPal womanofthehills May 11 #36

I don't know how to buy food at the grocery store TheFarseer May 11 #27

Bitcoin are meme stocks that have no real intrinsic value LetMyPeopleVote May 11 #28

It can double or halve in value in a year or less. Shermann May 11 #30

2 yrs ago but still good vapor2 May 11 #32

Perfect - thanks. (nt) Pinback May 16 #41

can you say discover. pansypoo53219 May 12 #39