June 7, 2023

Peter Schiff: I took the PIN code for the password from the Blockchain Bitcoin wallet

Bitcoin critic and proponent of investing in gold Peter Schiff admitted that he confused the wallet pin code Blockchain with a password from it.

“My bitcoin secret has been revealed. I took my PIN for a password. When Blockchain updated its application, I logged out. I was tired of trying to log in using my PIN code - it was the only “password” I had ever known or used. I also did not have a copy of the seed phrase. An innocent but costly mistake! ”- said Schiff.

Apparently, a supporter of “traditionalof values ​​”somewhat upset Morgan Creek Digital co-founder Anthony Pompliano, who gave Schiff some bitcoins last summer and subsequently offered assistance in regaining access to the wallet.

One user wrote to Schiff that he should be the last person to tell others about Bitcoin or to warn about the risks associated with it.

“You have not even found the time to find out the most basic things about him!”

The supporter of gold remained in his opinion, responding as follows:

"Wrong. The most important thing about bitcoin is that it is not money. He will not succeed as a medium of exchange or preservation of value. This case demonstrates how easy it is to lose bitcoin if you don’t understand how wallets work. ”

Recall, Peter Schiff sounded the alarm because of the loss of access to donated bitcoins on January 19. Then he expressed confidence that the wallet was compromised.

Earlier, ForkLog published a card about what custodial and non-custodian wallets are, how safe they are and how to work with them.