Peter Schiff – a longtime bitcoin skeptic – claims that his digital wallet was somehow compromised; that his password is no longer valid, and all his cryptocurrency funds are frozen.
Peter Schiff – All My BTC Is Gone!
It’s strange that Schiff owns any bitcoin at all. The man has long claimed that bitcoin is useless, even more useless than marijuana in a recent interview. He previously stated:
You can smoke pot and get high. You can’t do anything with bitcoin.
The man has long been a hardcore proponent of gold, but believes digital currency won’t amount to anything… If that’s true, then why did he even hold a wallet containing bitcoin? Could it be that his longtime anti-crypto attitude is a farce or a method of hiding his true feelings? If so, why?
Schiff took to Twitter to explain his frustration. He writes:
I just lost all the bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid… My plan was to HODL and go down with the ship anyway. The difference is that my ship sank before bitcoin.
It appears the bitcoins in question were gifted to Schiff – that he wasn’t the one purchasing the digital asset, and thus the loss isn’t likely to be huge (or so he claims). Still, that’s money down the drain that he likely can’t access anytime soon.
Despite newfound attempts to revamp cybersecurity, it appears crypto fraud and scam behavior are still running rampant throughout the digital asset space. One of the more recent cases involves the Agarata hard fork that took place on the Ethereum Classic blockchain. The fork resulted in a software update – nothing more, and no new coins came about.
However, several malicious actors are still looking to target crypto traders on Twitter and other social media platforms, telling them of the new “Agharta coins” that are compatible with the ETC network, and thus they should stock up now while they can. The purpose of the scam is to get unsuspecting traders to purchase these new coins – coins that do not exist.
Heads of Ethereum Classic have already emerged to warn people of the ongoing scam.
Not Everyone Likes Bitcoin
If it makes Schiff feel any better, he’s not the only mega-named bitcoin hater in the space. Others include Warren Buffett, the CEO of Berkshire Hathaway. Buffett has often referred to bitcoin as a fraud or an investment that “just sits there.” In a recent interview with CNBC, Buffett compared bitcoin with a button on his shirt and said that the value of the currency is based on whoever’s willing to pay a higher price for it.
Even U.S. President Donald Trump has come out to state that he’s not a big fan of bitcoin, claiming its status is based on “thin air.”