- Bitcoin skeptic, Peter Schiff went on Twitter to complain about a corrupted unnamed wallet which contained all his Bitcoin holdings.
- As Schiff posted a screenshot of his corrupted wallet and complained about his lost holdings of Bitcoin.
- Pompliano went on to state that software never really forgets anything and offered to help Schiff recover the password.
The news that Schiff owned Bitcoins at all came as a surprise to most since he was sharply critical of Bitcoin and even claimed that Bitcoin value was going to drop to $1,000 and “complete the pattern” of being a bubble.
In the tweet, Schiff went on to complain that not only did he lose all his Bitcoin holdings, but the famous cryptocurrency itself also is worthless and holds no market value.
Now, surprisingly, as Schiff posted a screenshot of his corrupted wallet and complained about his lost holdings of Bitcoin. Twitterati was quick to the scene to mock Schiff for having ridiculed Bitcoin for so long, but not still having taken any safety measures to back his private keys or seed phrase up.
I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad! pic.twitter.com/6SJvDJOZU6— Peter Schiff (@PeterSchiff) January 19, 2020
Morgan Creek Digital co-founder, Anthony Pompliano replied to the tweet lightly mocking Schiff’s carelessness in forgetting his password to which Schiff responded by saying that it was the wallet software that forgot the password.
Pompliano went on to state that software never really forgets anything and offered to help Schiff recover the password. Schiff revealed that ShapeShift CEO, Erik Voorhees helped him set up the wallet and even he agreed that there was no way to improve the password.
Other Twitter users also joined in on the fun, by calling Schiff a “boomer” who forgot his password and is now complaining, that the service itself is terrible. Binance CEO Changpeng Zhao also chimed in stating that it advised by cryptocurrency organizations that users store their keys.
Still, people nowadays are so careless that they can’t manage to do so since they most probably end up losing it. Zhao took the opportunity to promote the safety of private keys provided by exchanges and that the userbase speaks for itself.
Reckless Review Podcast’s co-host, Udi Wertheimer also went on to mock Schiff initially but then offered to teach him to work with Bitcoin if he was ready to invest a mere 100 dollars into the cryptocurrency. Knowing Schiff, it seems unlikely that the anti-Bitcoin advocate is going to take up on that offer.
As the Bitcoin creator, Satoshi Nakamoto himself has said, “Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.” The crypto community also went on to tauntingly thank Schiff for “sacrificing” his Bitcoin so that now everybody else’s is worth just a little bit more.
Schiff is also known for having made false Bitcoin price predictions in the past and has dumped on the currency to discourage potential investors.
He had also accused investors of the cryptocurrency with manipulation when Bitcoin gained 30% more value over gold in the past. In a later tweet, the bitcoin cynic admitted that all his Bitcoin actually gifted to him and therefore the loss doesn’t affect his finances.