Topic: Cooked up stories against Bitcoin. (Read 399 times)

This obviously sounded like a product of the frustration of forgetting his password that has led to him saying all of this because i believe the profitability in bitcoin isn't one that will make one want to think that way but then again its really sad having to loose your password to the point where you are unable to recover it, that alone in itself could be so frustrating that one may be made to think that it was a bad idea investing but then if they hadn't forgotten the password, maybe they would have been able to see the brighter side of things.

Yes, people like Peter Schiff still exist—critics who prefer traditional investments over Bitcoin, often emphasizing its risks. Forgetting a wallet password is user error, not Bitcoin's fault. Proper password management is vital for secure cryptocurrency storage.

Oldies are going to be skeptical of Bitcoin, and that's normal, in my opinion.
They are seeing something new, and they are not acknowledging that they need that "something new" to do what they do already, so they dismiss it or hate it.

Peter Schiff is well known critic of Bitcoin and has made many negative comments about it. As CEO of Euro Pacific Capital Schiff is financial expert but his views on Bitcoin is always negative. Some people think his criticisms are unfair and others believe he is just sharing his expert opinion. But Schiff was wrong about Bitcoin future before and his predictions have not always come true. Schiff does not like Bitcoin because he prefers traditional investments like gold.By the way he has correctly predicted some financial crises like 2008 housing market collapse. But this is not showing that he will be right every time. We should make informed decisions about Bitcoin by our own and we should not look on them.

Everyone has a different view of seeing a problem and maybe that's something that's common, but when smart people are unable to see things based on facts then it shows a different side.
In any theory if referenced maybe we won't find anything subjective about the journey of bitcoin because in terms of data and facts we can see it historically.
What is behind him hating bitcoin because the habit of hatred arises because of several factors that occur and entirely because of the losses that may result in him hating.
It would be interesting to get concrete information from him and why bitcoin is something he hates if it doesn't have a bad effect on him.

Of course he can but he should have thought that a child who is his own education can be contrary to his way of thinking so that the question arises that may have to be answered why is that.
Regardless of how they finally come to a conclusion but that much gives an idea of his uncritical thinking pattern.

He is stupid or at least tries to make sure that he is. It's impossible for wallet to forgot your password, wallet, computer and programming is not a human brain to create something out of nothing. It's impossible if your wallet is satoshi123 to become satshi12.
Bitcoin is not a bad idea, it solves many problems well but Bitcoin is not for inattentive people, it doesn't forgive mistakes, this is one of its biggest pros for man people but it's also a negative experience for people like him. If he is not a person who can take responsibilities of their own actions, then yes, for him exclusively, Bitcoin is a bad idea. How bad it is, depends on how bad he is.

Do we make him popular in a positive way? I think we are making him popular in a way that more people understand how dumb he is.

He's been there even before the bull run for 2024-2025 and even on 2021, he's been there too saying hateful things about Bitcoin. Let us give him the thought that he's smart and successful based on his career and the wealth that he's got. But that doesn't mean that it should be a pass for him to tell things that just used to be criticism about Bitcoin. Well, can't help on that and since this is a free market, everyone also can say things freely.

He is his son but it doesn't mean that they cannot have different interest. So, whatever Peter is on, his son could also have some interest on other things he dislike.

Peter Schiff is a CEO and a Chief Global Strategies of Euro Pacific Capital, and most of all an antagonist on bitcoin. He never speaks positive things about bitcoin but all are unjustified criticisms which give us a doubt if he’s actually making a prediction or he’s just fond of creating FUD or hype that will only lead and create confusion to the people, most particularly those new enthusiasts of bitcoin and cryptocurrencies.

Because of people like him, I believe that not everyone should use Bitcoin and crypto.

If you are storing money as crypto, you should first aware yourself about the basics like where to store safely. What information you will need to access the bitcoins in future has also to be kept safely with you. You cannot just impose own fault to the technicalities involved with crypto.

If this is the case then it is very relatable that our wallet can be compromised and if that's the case he should have just come clean to say that. And that is as a result of his carelessness or at that early stage he did not take security as a priority. I get to understand that many persons were too reluctant on security when Bitcoin was still low in price. The moment it starts gaining significantly we get to see more and more ways to secure our wallet from theft or misplacing our private keys.

I don't know him and maybe rarely follow what he says on social media or elsewhere, but what he did is against the facts that happened and what confuses us is that someone as smart as him doesn't have a more positive narrative about bitcoin that can be found in history everywhere.
If criticizing everything about bitcoin could provide financial benefits for him, it might have been a job and it would make much more sense to do, but if the criticism is only affiliated with the stage of not liking it is stupid.

How could he not be open to seeing his son has bought bitcoin and if he is against it why his son is so close to bitcoin.
It's confusing and seems made up with unreasonable reasons, even though we know that there are also many people out there who are strongly against bitcoin.

Maybe that's their pride and they cannot accept the reality of Bitcoin. People like Peter do have something on their mind that keeps rolling on and that's not with Bitcoin. So, instead of accepting the reality that Bitcoin is becoming bigger and it looks unstoppable, he's there trying to criticize everything about Bitcoin. Unlike his son, he has bought Bitcoin and believes on it and maybe he's being lectured by him then.

He probably just forgot the info he needed to - and thus, just like with many things in crypto, not his keys / password - not his coins 
Clearly, people like that are dependent on systems to take care of their security and passwords / etc.

You really take him and the story serious? I wish people can just ignore the critics for good henceforth.

Bitcoin doesn't need to be defended at this stage. Even the blinds should be able to tell by now whether it's worthy of time to study and investment. Peter and other critics are just seeking for public attention to discredit Bitcoin but aren't successful after several attempts and failure. You don't even need password to access your bitcoin as long as you have your private keys secured. It's normal to forget your password but it's very abnormal to claim forgetting your password make Bitcoin a bad idea. He can abandon the wallet which he forgot the password and import the private key to another wallet, it is as simple as that.

i do not know what wallet he is talking about but aren't all wallets have something that allows the user to change their passwords via code sent either in email or in mobile number and if it is not a centralized wallet i am sure he is given a seed phrase in which he was the one who probably irresponsibly forgot it
this clearly is to show that yes he tried bitcoin and that it isn't for him because of this complaint but there is a possibility that he never even had bought bitcoin and is just making up stories to make himself seem like an open minded person who critiques bitcoin objectively when the truth is he can't get pass his own ways so he needs to make bitcoin look bad and him make look good

If what he said about not accessing his wallet with his original password is true, that means that the password was definitely compromised. Somebody must have gained access to his password and changed it to further fuel his disdain for Bitcoin. This is the first time I'm hearing about a wallet rejecting password and that means the probability of his claim to be true is very low because I don't think that there has been such a claim aside from his. His skeptic opinions about Bitcoin makes his claims to sound more unbelievable. I wouldn't take the accusations of somebody that doesn't see any good in Bitcoin seriously if he's condemning something related to it that has not been faulted before.

One word - pride. That's what making some people not moving forward and not acknowledging what they may do wrong.
And without working with yourself, that may very well lead to consequences worse than that.

It's very funny and i laughed out loud while reading it, from his Statement, one could tell that he's very ignorant about Bitcoin or things relating to it cause if he was knowledgeable he won't make such Statement that "his wallet forgot his password" it's very unrealistic and I've barely heard that a wallet could forgot or reject someone's correct password or passphrase. That's a big excuse by most of these critics, they always blame and criticize Bitcoin for their own mistakes cause how can someone say a Bitcoin wallet would forget his password instead of the other way round, it's just like saying that an ATM machine forgot his card pin when he the sole owner of the card and have to input the right pin for the machine to process the informations in the card, sounds so funny and silly. Well, i care less about people like Schiff cause they'll always look for silly excuses to criticize Bitcoin but they're fighting a lost battle already cause Bitcoin is here to stay.

There's not enough information about Peter Schiff's wallet. Was it a hot wallet or a cold wallet?
Maybe someone gained access to his wallet and changed his password. Claiming that a crypto wallet could "forget a password" only shows that Schiff isn't a particularly tech savvy guy. I'm been using crypto wallets in the last 10 years and I've never had any problems with a wallet "forgetting" a password. I know that it kinda sucks to be fully responsible for your crypto. When you make a mistake, it's your fault and there's nobody else to be blamed.

They are a lot, like Peter Schiff who has never stopped his anti-Bitcoin posts, interviews but do we have to care about those people?

The answer is very clear and strong, No.

Bitcoin nowadays are very strong and its adoption growth is unprecedented in human history, hence people like Peter Schiff will be recorded by history book or forgetten with time if they are not famous like Peter Schiff.

Don't care about them and their anti-Bitcoin statements because you have more important things to do. Work for salary, work for Bitcoin, stack bitcoin with time.

He is a Bitcoin Troll not an influencer, he also either has no understanding of Bitcoin and how it works or intentionally spreads nonsense about it.

What he described in that tweet ("My wallet got corrupted somehow and my password is no longer valid.") is like saying "I dropped my gold bar in a furnace and it melted into the liquid metal in it, so it is no longer usable". His statements are that stupid!

There is a correct way of using everything, if you don't know it, then you should learn. A bitcoin wallet offers easy recovering options including creating a physical backup. In fact wallets encourage, some like Electrum force, you to write down the recovery phrase. If someone intentionally refuses to do so, it is their own fault to have lost their coins.

P.S. by the way the only thing I got out of this tweet is that all the FUD Shiff spreads about Bitcoin, he obviously has admitted to have owned bitcoin. Isn't that hypocritical?
P.P.S. Another interesting thing about that tweet is its date. 19, Jan, 2020. For 6 months bitcoin was in a bear market and kept going down. By January it starts showing the first signs of reversal and starts going up from $7100 to $8400 heading toward $10k resistance... Shiff strikes with his at that time FUD

It's obvious he doesn't know much about bitcoin, but he hates it. Why do people act like it has to be "gold or bitcoin"? Why can't it be "gold and bitcoin"? They're not mutually exclusive. The fact that you're a big gold fan doesn't mean you have to be against bitcoin. They're not rivals, they're not competing with each other, they just have similarities and that's normal.

If he knew anything about bitcoin, he would have come up with a better lie than saying a wallet forgot your password, that's embarrassing to say.
Even if we assume it's true, someone who understands bitcoin enough to criticise it should know all he needs to do is input his seed phrase in a different wallet and his bitcoin will still be there.
Finally, I'm assuming he's referring to "password" as the password to access his wallet, not his seed phrase. If this is the case, then it has nothing to do with bitcoin. I don't think you'll blame the currency if your bank app locks you out of your account, you'll blame the bank and it's low-tech, so why is bitcoin taking the blame in this case?
He should be ashamed of himself.
Further, down the tweet, he said something like "There's zero chance I forgot my password, I use simply a numeric password that I have used many times in the past". I laughed at the clownery even though it was 5 years ago.

Always like that when the critics fails to bring you down, they would neither troubleshoot other means just to succeed.
Such a shame that after the battered mockery speculations that Bitcoin was to be valueless and not worth investing on they either turn around saying... Bitcoin is a scam technology scheme.
They still failed as Bitcoin potentials utilities has always proved then wrong so they just keep diversifying just to sabotage the potentials and dominance of Bitcoin.

So does he blame the Bitcoin Blockchain or wallet network for that?
If truly he even got lost of his wallets accessibility then he was absolutely careless of his Privacies in that he losses the private keys. If not he is either trying to influence the public with false informations about Bitcoin.
Why did he not seek solution if he was genuine of the outbreak?

Indeed all the critics are fluxes as doomed.

I am sure people like this still existing but they don't admitted that they are part of that people. I don't think much about those who said like that especially in social media. Having Bitcoin and saving Bitcoin will be our responsibility so we don't have to tell others how we can do that in details.

Forget about him. There is other good people. By the way, his post still there with 319 reply.

Take a look at this screenshot and determine by yourself who he is

Since my days of hearing complains on wallet hacks and failures this is dumbest complain i have heard of. Well cooked up story by Peter Schiff. I have never heard of a wallet or site that forgets one common thing which is password. I was able to access the full story and i saw he shared some screenshots which i think was all framed up. The name of the Bitcoin wallet he used was impossible to identity in the screenshot. This only means he never even bought any Bitcoin in the first place. All a lie to draw the attention of other Bitcoin critics.

Last time i checked Bitcoin and Gold are not in competition. Till date gold has the highest value but not compare to Bitcoin in market capitilization. Is that what he is afraid of? Perhaps he believes that one day Bitcoin will outperform gold in the asset ranking. At least he understands where Bitcoin is coming from and where it is going to no matter his criticism which in the end has no impact on Bitcoin.

one word: ridiculous. if someone is going to go against bitcoin at least make it seem like realistic. first of all, i have never heard of an internet platform "forgetting" a password. passwords are encrypted and stored away safely. it is a technological device, how can it forget a password? does your notes app forget about the things you write in there? no.
if anyone had any ounce of respect for this man this should be the limit because he is blatantly trying to make bitcoin bad but failing pathetically because first of all he obviously doesn't know how wallets and bitcoins work because bitcoin itself has nothing to do with whatever is wrong with his wallet of choice

if someone truly believes this, i will be convinced that there really are still idiots in the world

It happens to some people and it can be hard to find an answer to how it is possible for them to happen like that.
I also have a friend who said he had some bitcoins but he forgot the password to the wallet he was storing it in so he currently has no access to it.

His language is like a politician because if you look at the meaning of his last word, it shows something that does not admit his mistakes, even though you say he is an economist.
It is almost impossible to understand something like this and there will probably always be no answer that we can give to people like that.
Sometimes people say something based on different facts and it is the same as people who say bitcoin is one of the best investments but they themselves have not started it, or it could be that those who spread negative issues about bitcoin but secretly they are trying to learn about bitcoin.

Can we stop making Peter Schiff more popular in a BTC forum, he does not like BTC and he has always said this, we do not care about him, but it will be better if we stop giving him attention here. I don't even want to follow the whole story in the OP, i don't know what he meant by his wallet forgot his password, i don't know the kind of wallet he used, but i am sure he is simply saying rubbish.

Yes we have people who are still criticizing Bitcoin till date even after knowing that Bitcoin right now is one of the biggest investment in the world, some of all this people criticizing Bitcoin online are secretly investing on it, I know of someone who always talk bad about Bitcoin when ever we gather to discuss as friends but his secretly accumulating Bitcoin and holding, I really don't bother myself with those Bitcoin critic anymore because I know they are just seeking for attention, some of all this Bitcoin critic are part of those people that had the opportunity to invest in Bitcoin when Bitcoin was not valuable and they refuse now they are angry and they decided to criticize Bitcoin while investing secretly.
Bitcoin don't need all this X influencers because Bitcoin is already a global coin, whether Bitcoin is advertised by X influencers or not it won't stop Bitcoin from growing, a lot of people are already aware of Bitcoin, all this Bitcoin critic can't stop it from growing, Bitcoin investment is a good investment and it has removed a lot of people from poverty I know people who has made it in life through Bitcoin investment.
No one can stop Bitcoin not even the government not to talk of a X Bitcoin critic.

I'll never call this guy a Bitcoin influencer, he's a Bitcoin hater. He's said a lot of bad things about Bitcoin and obviously, he's into gold so there might be some conflict to what he promotes.

Yes, a ton of them. Not admitting their mistakes but likes to critic a lot and not looking at their own faults when things did go wrong on them.

I have been trying to access the full story on X, but my network seems not to allow me.

This is not a case of a Bitcoin investor not knowing his way around Bitcoin or not understanding the technology; it’s a case of Bitcoin critics trying so hard to condemn the technology and trying to find a fault and imperfection from what they don’t understand. If not, I don’t understand how Bitcoin will forget a password, or how the user is the one that forgot his password to a wallet or forgot his seed phrase combination.

Of course there's plenty of people that exist like this still and this is your classic case of FUD.  Peter is an absolute buffoons of a fool who's been hating on bitcoin for god knows how long.  As long as I've known about bitcoin I would probably say.

There are always going to be people whom don't like change.  They don't like bitcoin not because it's not a great breakthrough technology, but because it goes against what THEY have believed in for so long and are unwilling to ever change.

This is what comes to my mind after seeing his tweet, he looks like a boomer who is stuck with centralized systems which require a username & password to open an account. From here we know that he criticized Bitcoin without knowing everything about Bitcoin. It could be that right now he also thinks that fish live in the air & birds live in the sea because of his logical flaw in assessing things.

This is the first time I have heard someone referred to Peter Schiff as a Bitcoin influencer. This is mislabeling. Mr Peter Schiff is a renowned Bitcoin critic. Anything he writes or says about Bitcoin is to discredit it.

You see what I mean. Bitcoin is what has kept him relevant since he stopped talking about economics to now focus on talking against Bitcoin.

Yes, a damn Bitcoin critic who cannot write about anything else without condemning bitcoin. I know he has Bitcoin but he needs to stay relevant.

‘His wallet forgot his password’ Now that’s something truly hilarious. How do machines or programs forget? How did he come to terms with this resolution! I imagine that people who come to invest in Bitcoin should at least be learned with the least about technology and how it works. For something as simple as passwords and with Bitcoin/Bitcoin wallets, seed phrases.

This is a person that has way too many passwords and possibly have altered one to keep it discrete from the rest but tends to forget what it was and as security would have it, all incorrect attempts would always remain incorrect. Funny he blames that on Bitcoin and machines.

He may not know what private key or seed phrase is. He may think everything needed to access bitcoin is the wallet password but which is not true.

He may even argue that his wallet forget the private key or the seed phrase but which is still ignorance.

Peter Schiff has been a bitcoin critic but he has and he has always failed about everything he says about bitcoin to people. This is another man people should learn from that not everything these well known people are saying should we believe.

I was scrolling through X this evening and i came across about the story of Peter Schiff a Bitcoin influencer on X. Though its an old story i only want to understand how possible for a wallet to forget a user password.

In my understanding i think he forgot his password yet he still insist he never did. That was how he lost his entire Bitcoins.

This was his last statement - " I knew owning Bitcoin was a bad idea, I just never realized it was this bad!" . And i fully disagree with him him.

In the end i noticed he was an economist, a Bitcoin critic and a gold maximalist.

Are there people like this still existing?



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