Is Peter helping bitcoin pump?

[Yogee]

I mean he just tweets about bitcoin so often. He may be thinking that he is guiding his followers out of bitcoin but what he could be doing is making them more curious that they will eventually buy like his son did. Bad publicity is still publicity eh?

- https://twitter.com/PeterSchiff/status/1333441586282328067

Salty as he is, he even went on and attack press like CNBC for helping pump bitcoin with their coverage hehe.

- https://twitter.com/PeterSchiff/status/1333768915147755524

So who will be the next company that he'll attack? Visa? Paypal?

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[winrate.io]

Well, yes, but I don't think it affects the market to be honest

[davis196]

No,nobody cares about Peter Schiff,so I don't think that he helps for the Bitcoin price pump.
By the way,I can agree with some of his views(even thought it's FUD) about the current Bitcoin growth.
Bitcoin right now is attractive mostly for the gamblers and risk takers.This can't be a healthy and sustainable growth.I also agree that the crypto whales will crash the market again and take the profits.The question is when it will happen?
He's also right about CNBC and the current low level of financial journalism.I just don't trust the mainstream media anymore.

[pooya87]

It is understandable behavior from a butthurt whose bags of gold aren't rising in value and have been having very hard time lately while he sees bitcoin keeps doubling its value every couple of months and consistently. It is easy to see his butt is hurting

And no he has no effects on bitcoin whether positive or negative, he is just another old man filling the internet with nonsense that nobody cares about.

[LogitechMouse]

When Bitcoin has been reported banned in China last 2017, I saw that the price of Bitcoin at that time is doing the opposite thing that what most of the investors are expecting.

This what I called "Reverse Psychology" where a famous person are just saying negative things about a thing but in reality it is the complete opposite. He bashes Bitcoin every time but He doesn't know that he is just promoting it in a different way. Yes lets say that it is not his intentions to advertise it but if you are an intelligent investor, you know what to do in things like this right .

[Vanessamix]

I mean he just tweets about bitcoin so often. He may be thinking that he is guiding his followers out of bitcoin but what he could be doing is making them more curious that they will eventually buy like his son did. Bad publicity is still publicity eh?

Its not always like this - if you're talking shit over small service/technology/company/etc its going to hurt them badly.
But if they're big enough - it works exactly as you put it "Bad publicity is still publicity"

[Darker45]

Probably. Peter's very strong derision toward Bitcoin probably makes other people curious enough to get to know the real deal of Bitcoin. And in the process they might actually end up finding something nice or two about it than totally discarding it like Peter does, and badly hopes. His son is indeed the perfect example.

Anyway, as much as he hates fiat, I think Peter won't be attacking the two mentioned fiat-based payment giants soon. He didn't attack Paypal when it announces its decision to allow buying and selling of Bitcoin in its platform. He kind of wooed them instead. So I guess they're not his enemies. At least for now. Who knows in the future? He might treat his enemy's friends as his enemies also.

[concept2]

Personally, i think this guy can only affect bitcoin in a small scale. Bitcoin is currently influencing by many differnt group of people nad no individual has enough fund to create a huge pump/dump in a short time

[jademaxsuy]

Not really, he explain in his post below that people are seeing legit asset investment but whales will left them hold the bag of bitcoin when whales dump their coins.

I think he right in his reply this is why that every investors may it big or small should always watch out for the possible dump coming from the whales to avoid getting in the scenario and that requires you to regulary check the market movement. Coinmarketcap.com is enough or good site for tracking bitcoin market movement.

[cheezcarls]

Not even the legendary Warren Buffett could take down Bitcoin that easily. For sure in the early days, he was one of the reasons why Bitcoin was rejected in the $10k resistance and pulled the price back even further. But now, Bitcoin has gotten even more stronger. Not even Trump could take the price down, not even the pandemic, the effect reversed instead. As for Peter? Well, I don’t believe that he had made such impact on the crypto prices right now.

[Mauser]

Peter Schiff is a great guy, and definitely has some good insights into investing in commodities. But I wouldn't be so harsh to attack CNBC like that. It's not the first time Bitcoin is around 20,000 USD. CNBC is just covering the rise, not hyping bitcoins even more. His remarks are good to read but shoudn't the market too much.

[meanwords]

"Sets a new low in financial journalism ethics", says who anyway? his words are insignificant towards Bitcoin at this point. It's at least making a publicity for Bitcoin to be known and much less on gold as a lot of his tweets mention "Bitcoin" in it. Nonetheless, I love how people in the comments is saying how salty he is now that Bitcoin is getting a positive feedbacks contrary to what he expects.

[Dragonfund]

Perhaps he may be responsible for the recent moves but I don't really think he is fully responsible. Have you check back how Btc printed $10k during halving movement? That kind of movement is natural that's as a result of fomo. He is just an influencer that's probably having share of his wealth in Btc but technically looking at Btc price, it wouldn't belong before we break new all time.
We have been consolidating between $18k and $19k, don't be suprise if Btc make a new all time before the weekend.

The fomo is real, hence nobody want to miss out.

[20kevin20]

Here's my take: let the old man speak his mind but don't let yourself controlled by his thoughts. His existence and thoughts don't just magically influence the markets or so.

While I respect his heavy support of precious metals and understand his choice of not investing (or at least not publically doing so) in digital assets, I think people should care less about his opinions. The main issue is that a lot of people just act based on what he posts, which is quite naive to say the least. I don't think he "helps" the Bitcoin pump in any way, but he surely does help publicly pronounce his irritated attitude against BTC.

[amishmanish]

He is quite persistent in his denial akin to Warren Buffett when it comes to Bitcoin. Both of them are old men who simply don't want to accept that something out of the blue like Bitcoin can challenge the status quo of their beliefs, or even threaten the established order of things by making millionaires out of curious teenagers prowling Github from their basements.

Him and people like him view that wealth should be synonymous with privilege. That is a view they hold very dear because that is the anchor of their self-image and existence. Bitcoin does not recognize privilege and treats the privileged as well as a first generation coder equally. While that time has long passed when bitcoin made millionaires, bitcoin's mere existence as an alternative for a tech-savvy generation is a threat to their worldview, hence, the nastiness.

[stompix]

Hihi, he went again full nuts mode because gold is not at $10000 per mg?
I thought he would come around but probably seeing gold going down 20% and bitcoin surging 80% made him lose his mind again.

Personally, i think this guy can only affect bitcoin in a small scale.

Yeah, like 0.015 of 0.001% of a cent.

Him and people like him view that wealth should be synonymous with privilege. That is a view they hold very dear because that is the anchor of their self-image and existence. Bitcoin does not recognize privilege and treats the privileged as well as a first generation coder equally. While that time has long passed when bitcoin made millionaires, bitcoin's mere existence as an alternative for a tech-savvy generation is a threat to their worldview, hence, the nastiness.

Yeah, but still the guy that has millions will be able to buy tons of bitcoins, and the one not affording a second meal a day will still be unable to buy anything and his destiny will be still the same. Bitcoin made a few of the first adopters crazy rich just as some got rich from oil or gold or cattle or anything else by being the first to establish a business or to finds that specific resource on his land.
And yeah wealth is a privilege, and bitcoin or fiat it will be like this forever, do you think that anything will be changed by bitcoin? Why?

[Sterbens]

Well, yes, but I don't think it affects the market to be honest

It is true, that we cannot conclude that with just one person the volume of bitcoin can have a very large pump. I think Peter is only a small part of the investors who contributed, but not all. Unless he owns ten million bitcoins, maybe we can say there is a possibility ... but there are still many investors scattered around the world who are causing the bitcoin pump. One of the reasons is the increasing interest of people to invest in bitcoin because during a pandemic situation, investing in bitcoin is the right way to save their property.

[Chrystora123]

snip..

Honestly, it's my first time knowing about Peter.  Bitcoin's price increase was noticeably more mature when Paypal announced it was accepting Bitcoin purchases on their platform.  One person's opinion would be difficult to make cryptocurrency attractive but when a large company opens up its self to cryptocurrencies (like PayPal) it creates a huge domino effect..

[Nhor1011]

snip..

Honestly, it's my first time knowing about Peter.  Bitcoin's price increase was noticeably more mature when Paypal announced it was accepting Bitcoin purchases on their platform.  One person's opinion would be difficult to make cryptocurrency attractive but when a large company opens up its self to cryptocurrencies (like PayPal) it creates a huge domino effect..

I agree with you. Peter did not help the bitcoin pump because making bitcoins value is not done by just one person. It is difficult for him to attract more bitcoin investors but big companies can do it with the millionaires and billionaires who now also use and invest in bitcoin.

[usekevin]

I mean he just tweets about bitcoin so often. He may be thinking that he is guiding his followers out of bitcoin but what he could be doing is making them more curious that they will eventually buy like his son did. Bad publicity is still publicity eh?

- https://twitter.com/PeterSchiff/status/1333441586282328067

Salty as he is, he even went on and attack press like CNBC for helping pump bitcoin with their coverage hehe.

- https://twitter.com/PeterSchiff/status/1333768915147755524

So who will be the next company that he'll attack? Visa? Paypal?

Some considered bitcoin will change their life one day and holding the funds. But the thing is, they will lose their hope on bitcoin and sell at low price due to panic.But some will be unique from them.They will hold till the maximum pump in bitcoin price and till their expected rise in bitcoin price. Sometimes the whale will decided the market.