Peter Schiff's Bitcoin wallet mystery is solved - page 2.

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Quote from: pooya87 on January 23, 2020, 03:46:53 AM

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.

I agree that there's nothing interesting about the mistake, and it sounds very typical. I don't think that's why people talk about it. They talk because he's Peter Schliff, he's famous for criticizing Bitcoin, praising gold and being a person that got rich via old methods, so he does not value Bitcoin.
Judging by the news, Schliff might have planned his initial statement as an attack on Bitcoin but was forced to say what happened and that it's not BTC's fault, because the media make him look bad.

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Quote from: PointHope on January 23, 2020, 01:39:02 AM

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

Ah, I must have missed that one--but I'm sure I've missed most of his comments, since I long ago tuned him out after realizing he was a precious metals permabull.

I'm not sure why Schiff even bought any bitcoin to begin with, but whatever. What I'm more surprised about is that he obviously didn't take the time to learn the basics about it before doing so--if he didn't write down his seed phrase, that betrays a level of ignorance about bitcoin that I find puzzling, as I don't think Schiff is a stupid man by any means. A huckster, yes. Stupid, no.

I'll also give him credit for owning up to his mistake instead of doubling down and blaming bitcoin even more. The latter is something he could have easily done and, I suspect, is what a lot of other people might have continued to do.

Quote from: Lucius on January 24, 2020, 06:03:48 AM

Are you talking about the same Peter who is predict that gold will rise to $5000 in few years (2012) or is it same Peter who says that Dow Jones Industrial Average will collapse from 10 000 to 2000, but instead it rose to 18,000?

Yeah, this is another reason why I'm not a fan of his--but I still don't think any of his wrong predictions make him stupid. Nobody can predict the future and I'm not sure why people with followings continue to try (though I have a pretty good idea).

Leonardo7

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Well, really don't have much to say about his experience, I knew something wasn't adding up about his loss password. Next time he should ensure to properly save his pass in a more proper place, maybe a good diary. It was his error though.

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At least he confessed that was his own fault
But it's an easy task to do, every single wallet that I used is well explained in the tutorial to keep my password and seeds in a safe place, I don't know why a person do this

Lucius

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Quote from: HardFacts on January 23, 2020, 10:24:30 AM

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.

When you are already called yourself Hard Facts, then you should check out some hards facts about Peter Schiff. Are you talking about the same Peter who is predict that gold will rise to $5000 in few years (2012) or is it same Peter who says that Dow Jones Industrial Average will collapse from 10 000 to 2000, but instead it rose to 18,000?

There is an article in my previous post which clearly shows that Peter has been constantly wrong since 2002, and it also explains how he makes a profit from his bad speculations.

What financial advice did this clown give anyone to stop being poor or save yourself from bankruptcy? If you invest $1000 in BTC back in 2015 and buy 5 BTC you could sell them in 2017 for $100 000, and as far as memory serves me this brilliant economist advised people not to buy BTC.

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Quote from: cr1776 on January 23, 2020, 07:02:35 AM

Quote from: samuraijin on January 23, 2020, 04:00:54 AM

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.

yes that's right, but at least all wallets always suggest to all users to back up whatever keys are in shape, because we know carelessness is human behavior so naturally they remind us to backup the wallet key so that when we lose account access because we forget the password, at least we can access wallet with a wallet key

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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!

HardFacts

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Quote from: d.kevin29 on January 23, 2020, 09:30:39 AM

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

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Quote from: d.kevin29 on January 23, 2020, 09:30:39 AM

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.

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Quote from: alyssa85 on January 23, 2020, 07:39:05 AM

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.

Quote from: Lucius on January 23, 2020, 06:25:18 AM

-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.

HardFacts

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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

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Quote from: pooya87 on January 23, 2020, 03:46:53 AM

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.

Sassee

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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

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Quote from: pooya87 on January 23, 2020, 03:46:53 AM

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.

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Quote from: samuraijin on January 23, 2020, 04:00:54 AM

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.

blckhawk

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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.

Lucius

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Quote from: pooya87 on January 23, 2020, 03:46:53 AM

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.

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Quote from: Wind_FURY on January 23, 2020, 01:35:12 AM

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.

Quote from: NeuroticFish on January 23, 2020, 05:21:35 AM

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 Wink

.

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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!

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Quote from: pooya87 on January 23, 2020, 03:46:53 AM

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.

Topic: Peter Schiff's Bitcoin wallet mystery is solved - page 2. (Read 655 times)