Lessons For Crypto Newcomers, Veterans and Skeptics From The BTCer Who Lost $700m
, a senior BTCer who accidentally threw away a hard drive with 8,000 BTC—now worth a whopping $700 million—in a landfill, is one of the few people whose story really captures the highs and lows.
Howells has converted his poor luck into a source of wisdom, giving specific counsel to new players, experienced players, and even the most die-hard skeptics as we move into 2026. This is despite years of court battles to dig up the site.
Howells, an ahead adopter who mined when it was new, says that his loss hasn’t changed who he is. Instead, it has inspired a commitment to teach others how to avoid making the identical mistakes while taking advantage of crypto’s promise.
Howells , “I didn’t let the loss define me.” He used the event to show how significant it is to focus on the basics instead of luck.
The Hard Drive Disaster: A $700 Million Wake-Up Call
Over ten years ago, Howells unintentionally threw away the hard drive while cleaning up around the house. The court’s attempts to get it back from a Welsh landfill failed, and the money is still buried under heaps of trash.
This mistake is a clear example of how merciless crypto can be, since a single mistake can wipe out a huge amount of money in a single night. Howells, on the other hand, views it as a chance to teach, telling the community to put securety and knowledge first in an industry that is known for being quick to hype and quick to act.
Essential Tips for Crypto Newcomers
Howells that people new to the field should focus on building a strong foundation before jumping in. “Learn how blockchains work, why decentralized finance exists, and what difficulty it solves,” he says.
He points out that traditional fiat systems give governments and banks too much control, whereas enables people to transact without middlemen. Howells says, “It’s more significant to understand why this matters than to purchase any coin.”
He suggests trying out diverse wallets, services, and protocols, but only with small amounts of money. “You will lose money and make mistakes. That’s how you learn. He advises, “The key is to make sure those lessons don’t cost paychecks.”
New traders should avoid altogether, as platforms often take advantage of those who don’t know what they’re doing. “Stay away from it completely,” Howells warns, adding that beginners “become liquidity for more experienced players.”
Advice for Experienced Cryptocurrency Users
Howells says that even experienced users might make mistakes. He says and recovery methods should be tested regularly. “Give them a try. “You don’t want to find out that your backup is unreadable, incompatible, out of date, or incomplete the first time you need it,” he explains.
He says that many ahead wallets are no longer useful since technology develops all the time: “Hardware changes, software evolves, and best practice evolves.” Your configuration is not strong if it relies on just one device, one viewd copy, or one location.
Veterans should also use crypto in their daily lives and assist new people learn to use it, focusing on real-world applications rather than market speculation. “Reinvest in the ecosystem if you’ve made a lot of money.” “begin a business, build a service, run infrastructure, or take crypto for things you already trade,” Howells says.
He says that relying on clearance from or regulators is a poor idea since it could lead to stricter limitations. He says, “They are not on your side.”
