Those who hang out on Twitter will have noticed that yesterday, while the bitcoin prices suffered a decidedly heavy dump, the cryptocurrency community not only did not let themselves be taken by despair but, on the contrary, gave a show of rare hilarity; Peter Schiff, a well-known gold fanatic and one of the main detractors of bitcoin on a global level, after having been stripped because of yet another wrong prediction (he claimed that the price of bitcoin would have fallen to $ 1000 while in reality just a dozen days later he returned above $ 8000)) he thought it well to publish a tweet with which he shared an unpleasant experience, but not less fun for those who observe it from outside.

The old Shiff, in fact, has lost access to his bitcoin wallet and has taken advantage of it to write that:

I knew owning Bitcoin was a bad idea, I never realized it was so bad!

The problem is that this loss is not attributable to bitcoin, the wallet or technology, as to the senility of the person involved; poor Peter Schiff, in fact, simply forgot the password that allowed him to access his wallet.

When the community pointed out to him, he found nothing better to do than claim that it was not he who forgot the password, but the wallet that would have lost his password; I leave you to imagine how the community reacted to this statement.

Not happy Schiff wanted to argue further arguing that it was not possible that he had forgotten his password since it was extremely simple and that he uses it very frequently without ever changing it; in short, in two simple lines he made a compendium of everything that should not be done when choosing a new password.

Many, however, tried to help him regain access to his wallet and, at that point, the good old Peter explained that:

Erik Voorhees created the portfolio for me and he also thinks there is nothing I can do. But you can try if you have any ideas. 

 

At this point, according to what reported by the person concerned, there are enough elements to try to guess what happened; in all likelihood what happened is that in entering the password the same Erik Voorhees will have suggested to Shiff to change it slightly, to make it less trivial and not identical to those used to access other services, however when after some time the poor man (so to speak) Peter attempting to access the wallet will have forgotten the change made to the usual password thus ending up losing access.

Now, without overdoing ridicule Shiff (however much you deserve it), what happened to him is not that rare and the forums are full of bitcoiners who have run into the same problem; the fact is that we need to understand that we are not talking about a bank account here, there is no one you can contact if you have this kind of problem, it is not like losing an ATM card or a checkbook, when you forget your credentials to access a wallet that wallet is lost forever, especially since, of course, Shiff has not even taken steps to backup his private keys.

Those who approach bitcoin, therefore, must start from the assumption that before handling large amounts it is always necessary to understand well how everything works, moving small amounts so that, even in the event of errors of any kind, you will not suffer particularly important damage ; in Shiff's case this trick cost him something like $ 2000, a sum that is not irrelevant to us but that he can also afford to lose.

The community, however, deemed it necessary to thank Peter for having contributed to further reducing the circulating supply, ironically on how important this is to further raise the price; in short, despite the important dump yesterday gave us big laughs, we also have to thank Peter Shiff, who gave us an afternoon of great hilarity.