A Bitcoin educator, developer, and entrepreneur, Jimmy Song has recently charged the cryptocurrency community, especially the Bitcoiners regarding the safety of their hard-earned assets after Peter Schiff lost all his accumulated Bitcoin.
Some hours ago, Newslogical reported that the popular Gold maximalist and stern Bitcoin critic Peter Schiff notified the crypto community about the loss of all his Bitcoin holdings.
In the tweet, Peter Schiff lamented that his wallet got corrupted mysteriously, which ended in invalidating his password and rendered all his Bitcoin holdings basically worthless.
Peter said his BTC is now without market value, adding the caption of the error message received to serve as a proof of his loss.
He said, “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 My wallet got corrupted somehow and my password is no longer valid.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!”
This tweet has since generated tons of mixed reactions among the crypto community members. Some advised him warmly, while others came after him with direct taunts.
But the crypto big guns such as Jimmy Song, Vitalik Buterin, Justin Sun and others have treated the matter maturely with helpful advice to the victim, as they viewed the incident as a big blow to the safety of Bitcoin and cryptocurrencies in general.
Jimmy Song Charges Bitcoiners Regarding the Safety of their Bitcoin Holdings
Jimmy Song, a Bitcoin educator, developer, and entrepreneur has used the opportunity to charge the Bitcoiners about the safety of their hard-earned digital assets.
He buttressed on the importance of proper seed back up, coupled with taking the safety of personal keys as a priority. He then stated specifically that any Bitcoiner unable to abide by those simple precautions doesn’t deserve to possess Bitcoin.
He said, “Reminder: 1. Back up your seed 2. Be responsible with your pin/password Bitcoin requires you to take personal responsibility for your own wealth. If you’re not ready to do that, then don’t buy.”
1. Back up your seed
2. Be responsible with your pin/password
Bitcoin requires you to take personal responsibility for your own wealth. If you're not ready to do that, then don't buy.
— Jimmy Song (송재준) (@jimmysong) January 19, 2020
Justin Sun, the CEO and founder of Tron also stretched his helping hands towards Peter Schiff. He assured him of aid if he’s still in possession of his private key. He then stressed the importance of keeping the Bitcoin private keys safe.
He said, “Do you still have your private key? Let me know if I can help on this! Always remember your private key! Crypto is like freedom. Freedom is never free. With freedom comes responsibility. The responsibility to remember private key!”