Peter Schiff has lost his Bitcoin!
To think that it is more difficult to store and move Bitcoin than gold can only be said as an anecdote. The "passion" of the well-known criterion of encryption and teaching.
Twitter yesterday, in the crypto community, posted a tweet from Peter Schiff, who is one of Bitcoin's best-known critics.
It is one of the statements that you do not know where to catch them, as they are offered for endless criticism and why not, to laugh.
Let's start with the fact that a well-known analyst, perhaps the most internationally recognized gold supporter, is constantly on the media fanatically accusing Bitcoin of being useless, calling stupid those who buy ... admitted to owning Bitcoin! This element in itself is not just funny but hilarious!
A timeless rule in investing is solemnly confirmed as to the view of projected people influencing others with their opinion: don't worry about what they say. Focus on what they do.
The next comic element of the case is his assertion. He blames Bitcoin for forgetting his password. It's like accusing email as a useless application because you've forgotten your password! As if you've locked your gold in a safe, forget about the combination and blame gold as the worst investment ever made. It is like losing your car keys and regretting that you are using a car rather than a horse that does not need keys. (All responses are from twitter).
Do you think we are exaggerating? We really do not attribute exactly what happened. In fact, it's even worse: he claims he didn't forget his password but his electronic wallet is remembering it wrong !!! Come on, Peter, what excuse is that?
For the sake of the conversation, let's just admit that the password itself changed in a magical way. However, even if he himself forgot his password or got confused (that is what actually happened), it is not such a serious mistake. It can happen to everyone. Money is not lost if you do not enter the correct code. Not even if you lose your cellphone. Money is lost only if you lose or do not remember the second and essential 12-word security code.
This man has spent countless hours blaming Bitcoin on every step taken by the media (and he is being followed) *, but he has spent a few seconds keeping a copy of his wallet! Ή learn its basic operating principles. We have been talking about someone who has known Bitcoin for many years, almost since its inception. How do we know? Since then he has been blaming it! Since 2012 he claims it has no value. And guess what happened. All these years it falls out! When he started to blame it he had a few tens of dollars, and now he has a few thousand dollars. And it continues!
Whatever it may be, to think that it's harder to keep and move Bitcoin than gold can only be said as an anecdote. Say you have your cellphone or computer somewhere, which has cryptocurrencies inside. Next to a bobbin of gold pounds or a bar of gold. One morning you realize that a robber has discovered the hiding place, has breached the place, got into it, dipped it and became smoke. Guess what you can recover. Let's help, by giving a tip: it's not gold or pounds.
Do you want to be careful not to lose your Bitcoin? Of course she wants to. Cryptocurrencies have a peculiarity in relation to traditional brokerage or monetary values. There is no custodian. If they rob you of your euro passbook or steal the bank itself or if they put a bomb in the store, it doesn't matter (you are not in the blast time). You will go to another store and withdraw. That's not the case with Bitcoin. The cryptocurrencies are "bare" digital assets. You are responsible for keeping yourself safe. You are the bank yourself.
The issue of guardianship is huge. It is a fact that has prevented many from owning cryptocurrencies, for that very reason. They fear responsibility. That's why Wall Street giants have fallen for it. And it will be solved, developments have already begun. The first licenses for such businesses have already been issued. It's a matter of time.
Guess what will happen then. When everyone can easily get and move them: the number of users will jump. By what this implies for its honor.
We'll close with two more messages from Twitter:
"I just lost all my records. The hard drive has been corrupted and my password is no longer valid. So not only is my computer useless to me, it is of no value to anyone. I knew technology was a bad idea, I just didn't realize how bad it was! ".
"I lost a whole novel I had written on my computer because I didn't keep it back up. I have come to the conclusion that all novels are useless and writing is an unnecessary occupation. Art is a waste of time. "