Peter Schiff's Bitcoin wallet mystery is solved

[Wind_FURY]

Plus surprise, it isn't Bitcoin's fault, which at first was "Bitcoin's fault" as he was trying to indirectly suggest. He's now probably trying to save his reputation because he only made himself look stupid.

https://twitter.com/peterschiff/status/1220135541330542592

My #Bitcoin mystery is solved. I mistook my pin for my password. When Blockchain updated their app I got logged out. I tired logging back in using my pin, which was the only "password" I had ever known or used. I also never had a copy of my seed phrase. Honest but costly mistake!

[1715048824]

1715048824

[1715048824]

1715048824

[PointHope]

Well he certainly had a big challenge to surpass his stupid beany babies comments some years ago...

He succeeded admirably to double down on stoopid...

[Myfe]

Ha, how was it a costly mistake - was his Bitcoin not in the wallet once he realized how to access the wallet properly? This guy sounds like a real clown!

Just found this additional tweet...

To clarify my last tweet I was not able to recover my #Bitcoin.  Since I never actually knew my password, just the pin, and never had a copy of my seed phrase, I have no way to recover the Bitcoin. So the problem was not a corrupted wallet, but my confusing a pin for a password.

Why does he own Bitcoin if he doesn't believe in it? That's f*cking illogical. Did the Mothers Against Drunk Driving drink and drive, just for kicks on the side? Insanity, this guy!

[pooya87]

i've seen this dude's name mentioned recently a lot and i don't get why people have been talking about him when his actions are the common mistakes that a lot of newbies have been making and nobody talked about any of them. basically that is most of the topics created in tech support board!
not to mention that he NEVER owned any bitcoins because when you don't have your private keys and all you have is an "account" on a "server" then you don't own any bitcoins even if that "server" is blockchain.com and it lets you have your keys.

[samuraijin]

Peter Schiff does not know and learn about blockchain and bitcoin technology, so naturally he does not know that every wallet has a seed phrase to recover funds in the wallet and can access it to other wallets too, I am a blockchain.com wallet user. Sometimes many people who hate bitcoin are looking for confusion someone that bitcoin is easily hacked, even though it is clear that it is a mistake and carelessness of its users not because of the bitcoin, so hopefully he knows the function of this forum for anything other than to help beginners know bitcoin well

[Wind_FURY]

i've seen this dude's name mentioned recently a lot and i don't get why people have been talking about him when his actions are the common mistakes that a lot of newbies have been making and nobody talked about any of them. basically that is most of the topics created in tech support board!
not to mention that he NEVER owned any bitcoins because when you don't have your private keys and all you have is an "account" on a "server" then you don't own any bitcoins even if that "server" is blockchain.com and it lets you have your keys.

Technically you don't actually "hold", or "own" Bitcoins in your computer/device/hardware wallet/etc, you only have the access to the UTXOs. But that's me nitpicking. Hahaha.

[1Referee]

i've seen this dude's name mentioned recently a lot and i don't get why people have been talking about him when his actions are the common mistakes that a lot of newbies have been making and nobody talked about any of them.

The thing is that people badly want him to start embracing Bitcoin.

I cringed hard back when Peter Schiff received a lot of donations to his Bitcoin address, and all those donations came from imbeciles thinking that they can change his mind on Bitcoin. Instead of actually spending their coins and help the ecosystem, they sent their coins to someone who will use it as ammo to trash talk Bitcoin.

People need to accept that even if Peter Schiff secretly likes Bitcoin, nothing will make him publicly admit that because his main business revolves around Gold. To make things even worse, I'm pretty confident that a lot of the businesses he partnered with will cut all ties when he changes his anti Bitcoin narrative.

[NeuroticFish]

Read between the lines, it's all a publicity stunt: See? Even (the big ego stupid) me have lost money just by a simple and silly mistake anyone could do. Don't go into Bitcoin, it's not for us!

[eaLiTy]

Plus surprise, it isn't Bitcoin's fault, which at first was "Bitcoin's fault" as he was trying to indirectly suggest. He's now probably trying to save his reputation because he only made himself look stupid.

That is the only logical thing to understand by his recent tweet, daily he wakes up to say something to bash BTCitcoin and on that day he saw an eureka moment that he lost his password and conveyed his frustration to bash BTCitcoin but he did not knew that his stupidity will come back and bite him.

Read between the lines, it's all a publicity stunt: See? Even (the big ego stupid) me have lost money just by a simple and silly mistake anyone could do. Don't go into Bitcoin, it's not for us!

He is a social media addict and daily he needs some content to post to get his stupid followers exciting .

[Lucius]

i've seen this dude's name mentioned recently a lot and i don't get why people have been talking about him when his actions are the common mistakes that a lot of newbies have been making and nobody talked about any of them.

People simply have a need to maintain a cult of personality, and Schiff is their God of Gold, just as Buffettis is their God of Stock. And whenever something happens to such people, their followers fall into some sort of trance for just one tweet or FB post. There are at least a dozen threads on one completely unimportant story as if it were a loss of a few million dollars, and it is a total of less than $2000 which is not even an investment, but gifts.

Peter Schiff Net Worth is $70 million, and for those who want to see the bigger picture, I suggest reading the following article.

[blckhawk]

Mystery on his innocence, but foolishness for us who quite knows about the seed phrase. The negative thing of this whole case is that he immediately blamed it all to the Bitcoin as a technology, rather than thinking first of his actions and what he actually did. Good thing is that Blockchain still helped him despite his mistake, maybe to uplift Bitcoin's image and prove he was wrong.

[cr1776]

Peter Schiff does not know and learn about blockchain and bitcoin technology, so naturally he does not know that every wallet has a seed phrase to recover funds in the wallet and can access it to other wallets too, I am a blockchain.com wallet user. Sometimes many people who hate bitcoin are looking for confusion someone that bitcoin is easily hacked, even though it is clear that it is a mistake and carelessness of its users not because of the bitcoin, so hopefully he knows the function of this forum for anything other than to help beginners know bitcoin well

Every wallet does not have a seed phrase. Many do, but not all.

[hatshepsut93]

i've seen this dude's name mentioned recently a lot and i don't get why people have been talking about him when his actions are the common mistakes that a lot of newbies have been making and nobody talked about any of them. basically that is most of the topics created in tech support board!

Because he is a celebrity, and people generally talk/care more about something that happens with a celebrity rather than with strangers. And in this case some people almost celebrate it, because Peter Schiff criticizes Bitcoin often, even though like you say - it's a mistake that happens to newbies quite often. IMO it's a problem that isn't addressed enough, I think wallet software - regardless if it's a site, an app or a desktop wallet, they all should have a page with red border and big warning site that tells people in upper case letter to back up their keys or their coins will be lost forever.

[Sassee]

It is funny how he doesnt know the difference between pin and password, havent taken time to do proper research, yet, he is always trolling bitcoin. Many  will lose respect for him.

Thank God he was honest anyway

[alyssa85]

i've seen this dude's name mentioned recently a lot and i don't get why people have been talking about him when his actions are the common mistakes that a lot of newbies have been making and nobody talked about any of them. basically that is most of the topics created in tech support board!
not to mention that he NEVER owned any bitcoins because when you don't have your private keys and all you have is an "account" on a "server" then you don't own any bitcoins even if that "server" is blockchain.com and it lets you have your keys.

He's a libertarian radio personality who is a gold-bug and has been campaigning against bitcoin for years because he fears that it's convenience as digital gold will depress the demand for actual gold.

The surprise was that he owned any bitcoin at all. And then he was obviously trying the trope of "see how easy it is to lose bitcoin".

That's why he got so much publicity in the mainstream press.

[HardFacts]

Peter Schiff should have backed up he seed phrase here on the forum like I do, that way it never gets lost !!!

At least Peter Schiff is HONEST about what happened, exactly the type of person I would trust.



Hard Facts

[d.kevin29]

He's a libertarian radio personality who is a gold-bug and has been campaigning against bitcoin for years because he fears that it's convenience as digital gold will depress the demand for actual gold.

The surprise was that he owned any bitcoin at all. And then he was obviously trying the trope of "see how easy it is to lose bitcoin".

That's why he got so much publicity in the mainstream press.

I wonder whether he really lost/forgot the credentials he had to put in the password field or he did all this to intentionally place Bitcoin in a bad spot publicly but did not expect the entire community to negatively react against his statement.

Although the mistake was only his, he keeps blaming Bitcoin and its community response for his actions. The only thing I don't understand is.. is Peter so important that we should discuss everywhere on the forum about him? Like let's be serious, I care 0% about this guy.

-snip

and it is a total of less than $2000 which is not even an investment, but gifts.

Peter Schiff Net Worth is $70 million, and for those who want to see the bigger picture, I suggest reading the following article.

Wait. Was it around $2000? The guy who set his wallet up said it was a $50 gift.

[Lucius]

Wait. Was it around $2000? The guy who set his wallet up said it was a $50 gift.

He got that amount from his friend Erik Voorhees, but afterward, some other people continued to send him donations (gifts), and today that address is holding 0.21 BTC.

He is not at all important, especially for BTC, I have already written my opinion why this is great news to some people. It's actually the crypto media that makes the big news out of nothing, and people get caught on the hook very easily.

[HardFacts]

The only thing I don't understand is.. is Peter so important that we should discuss everywhere on the forum about him? Like let's be serious, I care 0% about this guy.

Peter Schiff is one of the smartest people on the planet, especially when it comes to economics.   A LOT of people including you will wish they had listened to Peter Schiff when they are poor or bankrupt....   Remember this post, and come back and read it a year or two from now...  And instead of getting mad and feeling sorry for yourself, LEARN from your mistakes.

Hard Facts

[darkangel11]

A costly mistake... Who is going to pay for it? He started talking shit about Bitcoin, probably to check if this moves the market. It's hard to say whether it influenced the recent bearish move or not but we saw red on the charts for the last few weeks. Now he's backing out of that whole "I regret having Bitcoin" attitude? This guy is such a childish attention whore.
Apologize to the community Peter!