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James Howells Abandons Bitcoin Recovery, Creates Ceiniog Layer-2 Token
James Howells – After 12 years of relentless efforts to recover 8,000 Bitcoin accidentally discarded in a landfill in Newport, Wales, James Howells has finally given up on retrieving his lost fortune—now valued at an astonishing $923 million. The Bitcoin pioneer’s hard drive, mistakenly thrown away by his then-girlfriend during an office cleanup, was buried under tons of waste, and all legal attempts to excavate the landfill have been blocked by the local council citing environmental concerns.
From Recovery to Revolution: Introducing Ceiniog
Refusing to be defeated, Howells has pivoted to a bold new plan: launching a Bitcoin Layer-2 network called Ceiniog, named after a medieval Welsh currency. Unlike typical ICOs backed by intangible promises, Ceiniog claims to be “backed” by the lost Bitcoin, despite Howells having no access to the private keys. He plans to tokenize 21% of the buried Bitcoin to raise funds for the project and aims for Ceiniog’s market cap to reach $923 million, theoretically mirroring the value of his lost assets.
The Battle with Authorities and Unyielding Resolve
Despite offering over $3 million to purchase the landfill and covering potential post-closure costs for the council, Howells was stonewalled by local officials. “If they won’t sell me the land, what’s the point of tokenizing it?” he lamented, expressing frustration but also determination to turn his loss into a revolutionary crypto project.
A Vision Beyond Bitcoin Recovery
Howells envisions Ceiniog as more than a token—it’s set to become a cultural hub featuring Runes, Ordinals, and crypto applications within the Bitcoin ecosystem. His mission? To flood Newport and South Wales with crypto innovation as a symbolic “vengeance” on the council that denied him his rightful property.
