Peter Schiff is a PIN head.

[Jet Cash]

Peter Schiff has finally admitted that it was his error that lost him his "worthless" Bitcoin. It seems that he had an account with Blockchain, and used an automatic login to access it. When they updated their software, he tried to log in using his PIN number, as he had forgotten his password, and had never written it down, It seems that he doesn't seem to know about recovery seed phrases either. So what can we learn from this?

- Make sure you keep a backup of your wallet, and associated data. You can always download the blockchain if you lose that, but you need to protect your wallet info.
- Keep a note of your recovery seed phrase, and any other passwords you may use.
- If you don't own the private keys to your wallets, then you don't own the Bitcoin in them.
- Don't try to "Schiff" the blame for your errors onto Bitcoin - it just makes you look stupid.

[Cnut237]

Peter Schiff is an anagram of Perfect Fish. It's probably the 3 second memory thing that caused him to forget the password.

[odolvlobo]

It's like he buried his hoard of gold somewhere but he never made a map. Then he forgot where he buried it and now he is blaming the gold

[Chlotide]

Seems Voorhees set up his wallet, gave him about $50 and told him to secure it if he were to hold some significant funds...
https://twitter.com/ErikVoorhees/status/1219046141028982784

@Cnut237 That "Perfect Fish" explication cracked me up )

[franky1]

simple explanation is schiff tried to blame the dollar for why he cant log into paypal after losing his paypal login ability

basically its not a bitcoin problem, but a custodial service/centralised wallet service business problem. where custodial services should have reminders and tutorials as part of their wallet.
after all most average joe dont use full nodes so its more of the lite wallet users that need to learn some basics


and maybe even changing the buzzwords to more common/average joe terms to make these wallets more user friendly for the non technical

maybe call these custodial services 'pockets' as the term 'wallet' is not an accurate word. you dont hold coins in a bitcoin wallet you hold keys and the signing ability

and teach people to know how to keep their seed/privkey.. 'keyring' from being lost by storing a second copy of the key elsewhere away from the pocket