Peter Schiff Lost His Bitcoin

[darkangel11]

His wallet forgot it

-Did you break the garage door Peter?
-No the car broke it!

Great comedian this Peter.

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[buwaytress]

Actually, it's according to Peter Schiff himself.

I always did say not everyone is ready for, or wants to, be in sole and full control of their own money. It used to be strange to me that people would actually refuse that in favour of someone else being in charge of their money, able to take care of it for them. It doesn't anymore, now that I know it's those who benefited the most from the current system that still want to cling on. It's only when the state or bank's bitten you that you understand how attractive financial freedom and independence is.

Move along, Schiff.

[boltz]

According to that article , we still don't know how much was inside that wallet because I'm sure that that wallet was just a back-up of his prime wallet but any lost bitcoin is not good to happen especially when we know that a lot of them were lost during early days when people made transactions with hundreds and thousands of bitcoin. Anyway I hope this is another lesson for everyone who is not responsible for his wallet and coins.

[asus09]

According to Cointelegraph, perennial bitcoin bear Peter Schiff has lost his bitcoin due to losing his password:

https://cointelegraph.com/news/peter-schiff-lost-his-bitcoin-claims-owning-crypto-was-a-bad-idea

What are your thoughts?

How come some one look expert and have many bitcoin in his wallet could lost password of their bitcoin account, I not really sure and believe with him because can lost his password and many people will remember with their password and save with several place when geting problem with one place after saving password of bitcoin account.

[enhu]

He was very critical to Bitcoin but he does have BTC wallet with coins on it. That's certain a a vindication. Unfortunately his wallet lost its password. Not really sure if laughing at his loss is appropriate but what he tweeted is really funny. Humiliating himself this way seem a karma but I do hope he can recover back his coins.

[d.kevin29]

because I'm sure that that wallet was just a back-up of his prime wallet

How are you so sure? This guy is experienced (not crypto-wise), but everyone makes mistakes. He might've saved his wallet password (I suppose it's an online wallet like Blockchain) but forgot to also back up his seeds/keys.

any lost bitcoin is not good to happen especially when we know that a lot of them were lost during early days

Actually, lost BTC helps the shortage of it and therefore helps us all.

I hope this is another lesson for everyone who is not responsible for his wallet and coins.

The old dude despises Bitcoin in every kind of way possible. It's a lesson for those who spread BTC FUD everywhere while HOLDING BTC THEMSELVES.

so he didn't keep all these or he's just bashing bitcoin?

Definitely. Bashing. It.

[canaris1985]

So basically he shits on Bitcoin, they buys it, then fails to maintain basic principles of holding crypto and blames it on Bitcoin? This guy is surely enterntaining

[dothebeats]

The gold bull which, for years has been trying to defame bitcoin for all his nonsense is back at it again. This time, to pinpoint a flaw that really isn't a problem at all: memory retention (of the user). He stated on his tweet that his wallet forgot his password. The greatest question here is how could a wallet whose purpose is to store tons and tons of data be 'forgetful' in a single occasion?

Either way, I'm keen to know how much bitcoins he lost in the process. Also it's kind of hypocrytical for someone to keep some coins on his own safe all the while preaching negativity about the tech and its effects on the economy.

I wonder what nonsense would the guy blabber in his next misadventures with bitcoin ans crypto in general. It's getting old now tbh

[joinfree]

He's pretty stupid, as he uses the same password for everything. Anyway, I gather one of the Bitcoin YouTubers has recovered it for him.

Wasn't he one of the guys who used to say - if you don't understand it, then don't invest in it.

Oh really? that will be awesome because it's kind of not good for people of such high profile to make such comments about bitcoin. it taints the name out there making it extra difficult for people to appreciate bitcoin. Would be waiting to hear his comments when this is finally sorted out, more like bitcoin is safer if you save your private keys safely!

[russel123456]

It's very bad news. Might have some options for recovering password....

[BeManga]

According to Cointelegraph, perennial bitcoin bear Peter Schiff has lost his bitcoin due to losing his password:

https://cointelegraph.com/news/peter-schiff-lost-his-bitcoin-claims-owning-crypto-was-a-bad-idea

What are your thoughts?

It look like he is just telling a lie for bitcoin to get some bad impression
base on twitter he doesn't want other people to help him he said that he know his password.
but for me it look like he doesn't really lose some bitcoin and he knows that there is nothing to recover that's why he doesn't need help.

[TimtheYoutuber]

We shouldn't attack this at "this is his fault. Crypto is meant to be fully secured by its user"

We should be building better tech so that this doesn't happen to the millions of people who don't back up their wallets a million times.

If you are a crypto enthusiast you want crypto to be mainstream, so let's face the fact that mainstream is not a bunch of tech geeks.




If we want crypto to succeed, we need more educational content and better security features on wallets.

[TheNewAnon135246]

Peter is obviously making this up to gain more attention. Look at the engagement his tweets are getting. He is clearly struggling to remain relevant.

[enhu]

We shouldn't attack this at "this is his fault. Crypto is meant to be fully secured by its user"

We should be building better tech so that this doesn't happen to the millions of people who don't back up their wallets a million times.

If you are a crypto enthusiast you want crypto to be mainstream, so let's face the fact that mainstream is not a bunch of tech geeks.

If we want crypto to succeed, we need more educational content and better security features on wallets.

Agree. And crypto users are even helpful enough to recover it for him despite him spreading FUD about BTC.

Desktop wallets are not rocket science. The wallet I believe reminds users to remember his password the moment he is done installing it and keep a copy of his private key.  Its easy to operate mobile wallets now, I think it will gonna go mainstream soon.

[tomahawk9]

Apparently his password is just "a very simple numeric".

LOL a well known economist and CEO is using a simple password...Yeah, Peter Schiff must think we're all as dumb as a goat.

The guy is probably tired of everyone asking him about Bitcoin so he decided to tweet something to shit on Bitcoin. Seriously tho, this whole thing reeks of FUD (the "Bitcoin was a bad idea" part in his tweet gives it away), a lame and funny attemp at it, but still FUD that the average joe will probably believe.

[rdluffy]

We are discussing this subject on a local thread, and I will repeat, no one know if it's true and most important, in BTC you are the owner of your coins, and you have to take all precautions to not lost your money
And I don't know why buying BTC if this guy don´t like and trust in BTC

[Aikidoka]

That doesn't make sense if the wallet can forget your password! I mean the password that you enter while you creating your wallet it should be stuck there for life if you don't change it, so it's probably a lie or that person called Peter Schiff has changed his wallet's password a while ago and he just forgot that, but due to this problem, people they should be careful about saving their passwords to not forget it in the future.

[adaseb]

If his password is relatively simple then there are password recovery services out there that can get your account back with a small fee. As long as his password isnt some random characters, numbers, symbols which are over 25 characters long then its possible to "crack" it after a few hours or days.

This is generally very common. Do you remember the passwords that you used about 10 years ago? Probably not. However keep in mind what if you dug a hole in the earth somewhere, hid your gold there, and 10 years later you forgot where you buried it, whois fault would it be then? Which you blame gold then because you forgot where you put it?

Then there are those that mined bitcoins during 2009, found some blocks, since it was worth nothing, when they upgraded their computer they threw out their old hard-drive and those coins are gone forever. This is also fairly common, look at the amount of unspend coinbase transactions from 2009-2010.

[d.kevin29]

If his password is relatively simple then there are password recovery services out there that can get your account back with a small fee. As long as his password isnt some random characters, numbers, symbols which are over 25 characters long then its possible to "crack" it after a few hours or days.

This is generally very common. Do you remember the passwords that you used about 10 years ago? Probably not. However keep in mind what if you dug a hole in the earth somewhere, hid your gold there, and 10 years later you forgot where you buried it, whois fault would it be then? Which you blame gold then because you forgot where you put it?

Then there are those that mined bitcoins during 2009, found some blocks, since it was worth nothing, when they upgraded their computer they threw out their old hard-drive and those coins are gone forever. This is also fairly common, look at the amount of unspend coinbase transactions from 2009-2010.

The solution would've been simple for Peter: if the access to his wallet would've been blocked, he should've pulled out the paper he should have written the seed of his wallet onto in 2018 and just use that as a recovery.

Don't blame the dollars if you lost your wallet in a bush. It was yours, you had to secure it.

But whatever.. take a look at his Twitter profile and you'd see for yourself what his opinion on BTC is. That alone gives me a bit of doubt about the legitimacy of his "corrupted password" tweets, although at the same time I do believe he lost access to it.

But now seriously - this is about a $50 gift from 2018. Is this debate really that important for the $50 he lost?

[bittraffic]

That doesn't make sense if the wallet can forget your password! I mean the password that you enter while you creating your wallet it should be stuck there for life if you don't change it, so it's probably a lie or that person called Peter Schiff has changed his wallet's password a while ago and he just forgot that, but due to this problem, people they should be careful about saving their passwords to not forget it in the future.

Because there were so many hacks happening, his paranoia burst out so he kept changing his password everyday. It just happen that he forgot that he changed it 3 times. Right now he will just stick to one password and its  "password123". That's the easiest and not very predictable. Understanding blockchain had made him astonished for weeks, so please don't bother him much with nonsense talk about passwords.