Bitcoin Forum

UPDATE 23 JANUARY 2020

Peter Schiff figured out exactly what happened, and all of Peter Schiff's bitcoin is gone FOREVER, now living in BitCoin Heaven...   Eric Vorhees set up Peter Schiff's wallet at a debate for him, and Never gave Peter Schiff's his Seed words, nor his password...  Peter Schiff used his PIN believing that was all he needed until a software update logged him out of his wallet, and he now has no way to get back in...  So Peters Bitcoin is TOTALLY GONE as Peter First reported, the only difference is that we now know why.

For the few people HONEST enough with themselves that they want to hear the story directly form PETER SCHIFF, listen from here, it is short and starts at 45:30 in the video:

https://youtu.be/yVEC1XplEGc?t=2730


The theft of PETER SCHIFF's bitcoins was probably the explanation for the recent 500 dollar drop in BitCoins price   :o :o :o   Can you imagine how many people are now afraid of losing their BitCoins in the same manner ?   I can not think of a worse thing that could happen to the reputation of crypto currency   :'( :'( :'(

Peter Schiff is a millionaire many times over and a very intelligent guy, he did NOT, NOT, NOT forget his password.  So the question is, WHO stole all of Peter Schiff's bitcoins, and how did they do it ?  The worlds wants to know !!!

Hard Facts

Have you even done 10% of the research needed to know most about Peter Schiff's loss of funds? Nobody stole his coins. He allegedly lost his password to the wallet but blames the wallet for it. Long story short, he did not back up his seed so he lost access to his Bitcoins.

You could read literally the first paragraph of any article about his funds and it would be enough to know there's nothing linked to theft in his case.

Peter Schiff is a known bitcoin hater. Look at some of his old tweets,

https://twitter.com/PeterSchiff/status/1213113030231375872?s=19

https://twitter.com/PeterSchiff/status/1212833217650266114?s=19

https://twitter.com/PeterSchiff/status/1212781284273131535?s=19

So I believe whatever he is saying about his lost bitcoins (all gifted, not bought) is jut an attention seeking drama!

where's the hard fact there?

Peter Schiff's Bitcoins wasn't stolen and he already admitted that he lost his keys to access the bitcoins. IMO, this guy is a fraud, how will you lost access easily on his BTC. He is claiming that his wallet is being corrupted and stating his password is already not valid, that's the first time I hear those kinds of excuses on losing BTC. Probably he just wants to give negative thoughts on BTC to the public or just wanted public attention.

• Peter Schiff Lost His Bitcoin, Claims Owning Crypto Was a ‘Bad Idea’ (https://cointelegraph.com/news/peter-schiff-lost-his-bitcoin-claims-owning-crypto-was-a-bad-idea)

Most of the people think PS is just an anti-Bitcoin and probably it's true.

Settle down, my fellow Bitcoin follower. The fact that Peter Schiff lost his bitcoins has nothing to do with the drop in price. That's an isolated event - I didn't even know who Peter Schiff was to be sincere even if I consider myself a veteran in the cryptocurrency industry. He may have held some BTC in his account, but I'm sure he didn't have a significant amount. And he lost the access to his bitcoin wallet - not necessarily that someone hacked the account. At the end it could be just a fake statement to somehow influence the sentiment of the retailers.

There's a much higher quality topic in the Press Board here (https://bitcointalk.org/index.php?topic=5218957.0).  People there recognise that Schiff lost the sum that was gifted to him.  People would be well-advised to stop posting in this low-quality (and likely intentionally misleading) topic.


Just because someone registers an account here, doesn't necessarily mean they're your "fellow Bitcoin follower".  OP appears to be a troll account and shouldn't be taken seriously.

I think is a hater or an attention seeker that will suddenly talk of this if for a long time that he has hodl the coins, he hasn't talked about that. Or he has not been accessing the wallet before now to come up with such story.

I bet he was holding a few hundred dollars worth of bitcoin and he just created a media buzz with his lost bitcoin because he lost the password and now this is the second thread in this forum discussion his lost bitcoin  :D. If he is not having the intelligence to write down his password and seed key there is no point in telling that he had bitcoin :P.

Attention seeking? Probably.

But what's also possible, maybe probable, would be a hack. Could he have been hacked? Do we know anything about what type of wallet he uses? Has he ever bragged about such things?

The media drama/hype that he could be drumming up to disparage bitcoin is totally suspect, which is funny, because so many people have lost money at bitcoin (having bought high, etc) that he really doesn't need to help.

Weather you agree with Peter Schiff or not, he is a millionaire many times over and a very intelligent guy.  He did NOT, NOT, NOT lose his password, you obviously did not see him talk about this.   Peter stated very clearly that he did not back up his seed, and does not even know what it is.

So the question is,  Why did his password just stop working ?   Is this typical with Bitcoin ?  How can others prevent this ?

You definitly gonna loss bitcoin in your wallet though if you have any LOL 😂😂

Peter have already stated he didnt have big holdings in bitcoin and what he have lost is a small amount of bitcoin gifted to him. He just tweeting to show his hate towards bitcoin holders.😛

I do not strongly believe that what happened to the Bitcoin which Peter Schiff bought and lost can be the reason for its recent minor slip. Why would he be a factor in the market, anyway. Who knows if he is just having some inclination this time to be the Drama King and just pretend that he lost the password just to make the point that owning Bitcoin can be harder than owning the real gold? He has no love for Bitcoin so we should never care if he is stupid enough to have lost his password or if somebody (maybe within his own household, who knows!) got his password illicitly and transfer his Bitcoin somewhere else. I guess since he has a lot of resources under his hand, the best thing to do is to hire a good investigator to find out what really happened. We are not anymore in 2017 where a statement from someone known can be affecting Bitcoin, we are already a lot of miles away from that kind of non-sense thing.

Theft? no one did ever stole his bitcoins. He forgot the wallet password and that's why he's ranting on the web again attacking bitcoin because of his negligence. There's no other people to blame with his act but himself, he can't admit the fact that he didn't back up his wallet password and it is his fault.

True. We are the one who is responsible for every actions that we take so what happened to him proves how careless he is. As the owner of his account, he have to be careful in order to avoid those things like what happend to him. And also he is against to the bitcoin. Maybe he didnt truly lost his coins or forgot his password but he just wanted for the people to have a negative impression for the bitcoin and the virtual wallet he is using.

You have to investigate it before spreading the word, or at least show a trusted link source, lately a lot of FUD news or untrue news about bitcoin, the goal is to drop the value of bitcoin, in my opinion the bitcoin wallet is safe enough, if hacking or theft occurs I think it's due to user carelessness.

Tss. Not interested to go back to this topic anymore. You are too late.

He never forgot his password. He lost it by intention. Or if there is a thief who stole his Bitcoin, it was his old mind characterized with memory gap already. 

I think this is just a drama that was deliberately made by Peter Schiff so everyone thinks that bitcoin is not good to use, after all, before I never heard news like this that lost bitcoin because it forgot its password so that it can't access its wallet once again, maybe Peter Sciff is one of those who hate bitcoin and if we look during the new year he always criticizes bitcoin.

First of all, theft or stolen on bitcoin has no effects on its price, so it has no connection if the price goes down. It has been already said that no one stole the bitcoins of PETER SCHIFF, he was just been careless about storing his coins. Its the owner's responsibility to keep it safe. If he is really a very intelligent guy, he would not let his bitcoins be lost.

I'm not sure this person lost bitcoin, I also saw it on his Twitter, even some well-known people in bitcoin replied to help but he didn't respond well, even if he noticed blockchain.com also asked him about Peter Schiff's wallet being examined, but he didn't Respond, I'm afraid it's just a public deception, if indeed he keeps bitcoin why he always makes tweets with negative comments, it seems like this person is not stupid and definitely keeps a wallet key to access it, but unfortunately he hasn't learned how to make keywords for wallet recovery and other, I am increasingly aware that many people give bad comments to bitcoin because he does not know how to store wallet keys safely and well the technology, it makes me laugh to hear it

People like these are bad for the future of bitcoin and crypto-currencies. It's pretty obvious that Peter has ulterior motives, it's basically all an act. I doubt he has ever had a decent amount of bitcoin/cryptocurrencies and I don't see him trying to rectify the situation.

He is misrepresenting the situation. The issue that is he having is with a company that provides services for bitcoin but isn't actually bitcoin. It would be like blaming fiat when a bank froze your account, or asked for verification, or did anything to inconvenience you. It just doesn't make sense.

There are a million ways he could have taken in order to securely store and access his bitcoin. Choosing a centralized "bank" and then blaming the currency when it's his/the bank's fault is just ignorant.

He may not have kept his password very securely. so he doesn't know where he kept it, again we can't say for sure if Peter truly loss this or just an avenue to run down bitcoin.

Hackers are not seeking our permission for stealing BTC nor they disclose there I'd. Btc is secure but some security also lies on use end also. Always keep your computer safe from viruses and malware. Choose a strong password. All hacks start from human lapse

Technical risk is really crucial. That's why we need to safeguard our assets safely and securely. But there are really people who loves to take advantage with other's shortcomes. This case is really ridiculous somehow because how come he has these millions without safeguarding it? As I've read there was no backup being made. Well, he is really somehow blamed of what had happened. Hopefully there are authorities who can regulate this matter.

I think the story is that he lost his private keys. If that’s the case, then it’s his own stupidity for losing his Bitcoins. I don’t feel bad for him for being stupid.

UTTERLY DISHONEST:    No one should ever listen that LIES to themselves and others just because they do not like the truth.   Only the most worthless type of person needs to do this to make himself feel good.  Peter did NOT lose his password.

Hard Facts

Right. Much more likely that his "wallet forgot his password" (https://twitter.com/PeterSchiff/status/1218919039373701123), which is something that he actually tweeted. He thinks the computer program storing his password "forgot" it. He also admitted that he uses a "very simple numeric password that he has used many times in the past" (https://twitter.com/PeterSchiff/status/1218920973149204483). And why can't he just recover from his seed words, unless he doesn't have them?

What a complete embarrassment to himself. In the space of two tweets he has shown he knows next to nothing about bitcoin, next to nothing about technology, and next to nothing about security. Blockchain.com are trying to help him to recover his funds, but he has direct messaging on Twitter disabled and doesn't know how to enable it.

Honestly, does this guy not have an advisor or something monitoring his online accounts? Seriously. Surely a bit of a faux pas to publicly admit that he can't even manage his own assets, whilst simulatensouly asking people to trust him with their assets?

Why anyone listens to this guy's advice on anything is beyond me.

EXACTLY...   My passwords do not just stop working at my BANK, my brokerage accounts, or anywhere else.   Why should Peters password for his wallet just STOP WORKING ???   Security is a huge concern for many bitcoin users, and if you ever want BitCoin to go mainstream they will need to address these issues.  GET REAL, if you need to be an expert to protect your BitCoin, the average person will never use it.

Peter readily admits that he does not know his seed words, but why should he ???   Does you BANK need to give you seed words ???

Hard Facts

What will the community expect from you?the one who's always looking for something to throw against Bitcoin and how much are you gaining from this?popularity?well what else could have?

absolutely because OP mentioned Peter as very intelligent yet he Forgot his Password?no wonder why OP is proving something here from Stupidity of Peter.

more likely It is,thats why nothing can Prove something here and that is the "HardFacts"

It didn't. He forgot it.

You don't. You need to be able to remember a password, though.

"I didn't perform the most basic of security measures, and then I forgot my password. Bitcoin is a scam!" Lol. In other news, I forgot where I buried my gold, so gold is a scam, and I also forgot my PIN, so credit cards are a scam. ::)

#Crypto was my worst #investment because I lost 100%,” Euro Pacific Capital CEO @PeterSchiff tells  (source (https://www.kitco.com/news/2020-01-21/-I-lost-all-the-bitcoin-I-ever-owned-Peter-Schiff-tells-Kitco-News.html))
I think this is another attention seeking move just like we were reading threads related to Craig Writgt and McAfee.
You have to take care of your password and if you lost it due to some reason then why blaming crypto for that.  Why not accepting your own mistake.

Peter Schiff is a millionaire many times over, and smarter than you will ever be.  He did NOT, NOT, NOT forget his password.

Only a total loser needs to embrace a LIE to make himself feel better.  There are some people I disagree with on BitCoin, that I still respect and consider smart people.    But someone that rejects the truth in order to make himself feel good is the most useless fool that no one should ever listen to for anything 🙈🙈🙈

Hard Facts

Ok. The computer software "forgot" it instead. Lol.

There are two things which is going to happen because of this incident.
First, the bitcoin will dump temporary which it already did and then pump back again. This is because people holding bitcoin always panic on any news, real or fake.  :D

Secondly, if the bitcoin are really lost, i mean the private key is lost, then there is more reduction on bitcoin supply because those bitcoin held in peter wallet are lost forever and couldn't be used.

he mean he lost his btc due to wrong move ( trading ) not loosing it coz he lost his password or its stole by someone  but whats more worst is that he put the blame all on btc  .  

lol , how dare him    ? he isnt a newbie and he is inteligent to know how btc work or how trade work but if he is a newbie i think that will still be forgivable somehow   . but this could be the reason for the slight decline that we exprience the past days   .

Shouts out some noncence without even trying to acknowledge the situation, then connects it to 500$ price drop (wtf?), then caps it all with "Hard Facts" statement. How much conscious thought have you put into this? I bet the answer is none

You got to admire Peter for exposing his stupidity all for the price of BTC to drop a bit.  Its still unsure if there will be someone else in the financial industry like Warren who will keep spreading BTC hate but admits holding BTC in their wallet. Not even tried to trade to prove their finance trading expertness. 

Because of his negligence, his lost all of his bitcoins just as simple as that. As the owner of your own account you have to take care for it and you have to think a lot of stuff just to avoid crimes like stealing of your coins, forgotten passwords or hack accounts. Thats the nature of human, even if he is the one who committed the mistake, he will blame it to others just to cover up his fault.

It's his problem of forgetting the important detail of his account that contains his bitcoin asset. There is a chance that he's just also playing out just like the first people that flamed bitcoin with bad words but turns out suddenly that they are also bitcoin lover.

And the question is, how does it affect you. The amount stolen might have been responsible for the drop in the price of bitcoin but I don't think creating a thread for that purpose is something that would bring back the coins. Every millionaire in crypto who is not shy to announce it to the world on how accomplished he is, is a target and he should know more to be extra careful. Its unfortunate what we are seeing in crypto but eventually the market will be more safety.

Is that yours? Nice, for disclosing it in the public.

He just wanted attention, that's all.

..And I doubt he really lost his keys on his wallet, IMO he's also gaining benefits on using BTC and at the same time, he's an anti-BTC for promoting his own Ponzi. It's just an act, my fellow friends.

Ignore them, they're just trolling.  They've done it in other topics too.  A quick glance at their post history reveals they are fundamentally anti-Bitcoin.

http://www.wearedecentralised.co.uk/troll.png

I know OP is a troll, and have warned others about him in the past myself, but for the sake of any newbies reading this thread, I wanted to make one final post to conclude this nonsense:

Turns out, to the surprise of absolutely no one, that the reason Schiff couldn't log in was because he was indeed trying the wrong password: https://twitter.com/PeterSchiff/status/1220135541330542592

This whole nonsense has nothing to do with bitcoin being hacked or insecure, wallets being corrupted or stolen, or computers "forgetting" passwords (which is hilarious even to suggest). It is entirely because one guy didn't take the most basic of security precautions and forgot his password.

Schiff doesn't understand the first thing about bitcoin or technology in general.

Looking at OP's post history, you will quickly see that he/she is a Goldbug and a fan of Peter Schiff.  ::) 

fortunately, Bitcointalk.org allows for freedom of speech and trolls like OP will have a platform to spread FUD like this. I once went onto a Gold forum and I posted something about Bitcoin and I got a 3 month ban for that post, but Bitcointalk.org allow open discussion and trolls like this flourish in this kind of scenario.  >:(

Peter Schiff did not do any research on Bitcoin before someone gifted those bitcoins to him, because if he did, he would have known that you have to backup your seed to protect your bitcoin wallet and it is obvious that he did not do that. Now he shifts the blame for his own mistakes to the technology that he wants to bash.  ::)   <very unbiased and agenda fueled statement made on Twitter>

I guess you are right with that. He posted again with his twitter account and it tends that his problem has been solved.
https://twitter.com/PeterSchiff/status/1220135541330542592

So those of you that were saying that Peter Schiff was FAKING the whole thing must feel pretty stupid right now.  But probably not, dumb people never know they are dumb.

A BitCoin expert at a debate set up Peter Schiff's account for him, he has told that story several times, so it makes perfect sense he did not have his seed phrase...   At least Peter Schiff is HONEST enough to tell everyone the truth, more than I can say for many people here !!!

Hard Facts

Just wanna add one correction he is saying he didnt forget his password rather his wallet forget his password. I dont think he saying he lost in trading by wrong moves. Either way its the responsibility of user to take care of his btc.

VERY WRONG AND VERY STUIPD ANALOGY....

If you forget the combination to your safe, you do not lose your gold, it will be a huge PITA and take a lot of time, but you do get your gold out...

Peter Schiff's BitCoin are gone FOREVER....

Geez, you are so dishonest with yourself and others, that you are not even operating at a grade school level of intelligence.

Hard Facts

I lost my smartphone, therefore owning a smartphone "Was a Bad Idea"... Hmm. I wonder if he was even telling the truth, maybe there are no lost funds or bitcoin wallet in the first place.

Otherwise he would have know about making the seed words phrase. For how long has this been documented (https://en.bitcoin.it/wiki/Seed_phrase)? Probably since about the time paper wallets (https://en.bitcoin.it/wiki/Paper_wallet) fell in disuse, that's YEARS ago.

If true, the lesson is good for whomever might have a wallet but not the seed words, remember, those seed words are everything, you can lose your password and your wallet, but never lose these words. If you wallet is too old, move the funds to a new one and generate the seed words, write them with your own hands in a piece of paper, secure this paper. You should probably have two copies, and secure them both on separate physical locations.

If you own a wallet, with any meaningful amount of coins, and still don't have the seed word phrase, do it now. Find the proper way to do it, with a secure os booting from a live iso (Tails OS is a good choice). This is the same for any wallet, hardware wallet is not excuse, with the seed words you can lose the wallet and still get access back to your money. A hardware wallet is not a good long term storage solution, but the paper with words is.

VERY VERY WRONG ASSUMPTION ON YOUR PART.  Eric Vorhees set up the wallet for Peter Schiff at a Bitcoin Debate. 

For the full story and update, see the video on first post of this topic.

Hard Facts

Peter has been known as one of the haters of Bitcoin or cryptocurrency, so I doubt that he's telling truth unless he has enough proof, I think he just did this to seek attention and to make people panic at all that it can be happen to them too, so don't believe much in everything what he's saying.

Do you not understand Grade School level English ???  This simple chain of events only had 2 steps to it,  do you not have enough intelligence to understand a 2 stop process ???

Peter Schiff NEVER created the password, Eric Vorhees set up the account.  Peter only created and used the PIN number.

If you can not comprehend such a simple fact, how could your advice about something as complicated as money and bitcoin be worth anything to anyone ???  

Hard Facts

I’m confused, what do you mean that someone stole his Bitcoin?
But, he said that he lost them and they were not stolen, so how do you arrive on your idea that it was stolen? You even said it here that it was as a result of a software update that made him lose his Bitcoins.

Let’s just take it like that, he made a mistake and he lost his Bitcoin, there’s nothing we can say about it and there is no way he can recover it and we also feel sorry for him. On his Twitter he even wrote that he knew owning Bitcoin was a bad idea but he never knew it was this bad.

I do not know Peter Schiff but I read on some social media website that he not back up the seed so he no longer have access to bitcoin wallet.
Now he's blaming the Wallet because he has no other way to gain access again.

Given your response, you did not even bother to read the first post of this thread.  Seriously, you offer an opinion in a thread you did not even read  ???   The stupidity and incompetence of some people here is just shocking.

UPDATE 23 JANUARY 2020

Peter Schiff figured out exactly what happened, and all of Peter Schiff's bitcoin is gone FOREVER, now living in BitCoin Heaven...   Eric Vorhees set up Peter Schiff's wallet at a debate for him, and Never gave Peter Schiff's his Seed words, nor his password...  Peter Schiff used his PIN believing that was all he needed until a software update logged him out of his wallet, and he now has no way to get back in...  So Peters Bitcoin is TOTALLY GONE as Peter First reported, the only difference is that we now know why.

For the few people HONEST enough with themselves that they want to hear the story directly form PETER SCHIFF, listen from here, it is short and starts at 45:30 in the video:

https://youtu.be/yVEC1XplEGc?t=2730