TL;DR: CoinSpice scours the Twittersphere to shine light upon the top crypto tweets of the week. Tesla’s Elon Musk views cryptocurrency as a cash replacement. Precious metals investor Peter Schiff password mystery solved. Justin Sun continues his marketing genius. Why crypto markets seem crazy is because they are. Kim Dotcom baffles a BTC maximalist, and so much more in this fun installment.
Tweets of the Week: #8 Peter Schiff Mystery Solved
Peter Schiff has made a literal living on claiming to have called the 2008 housing crisis. He, along with market Bears generally such as Ron Paul and even Bernie Sanders, has made much of his prognostications. Schiff, of course, went further, predicting doom and gloom for at least the last decade since — massive unemployment, social unrest, hyperinflation, and so on. Those he got breathtakingly wrong by any measurement or standard. Horribly wrong.
My #Bitcoin mystery is solved. I mistook my pin for my password. When Blockchain updated their app I got logged out. I tired logging back in using my pin, which was the only "password" I had ever known or used. I also never had a copy of my seed phrase. Honest but costly mistake!
— Peter Schiff (@PeterSchiff) January 23, 2020
In fact, he’s so incredibly wrong at forecasting, shortly after he moved to Puerto Rico for its tax advantages, the island was struck with a historic natural disaster. Oof. Poor Peter. He has, of course, also assumed the demise of Bitcoin since its inception, coming out as an early critic, demanding it to be vaporware, useless, worthless. Can you guess what has happened since Schiff went after arguably the most important financial innovation in a century? Can you? Bet you can. Only about a 9 million percent increase in value.
Here's what happened: after debate in 2018, we went to dinner. Peter had never used bitcoin before (!) I helped him set up wallet on his phone (Edge or BRD?), told him to secure it if he ever held significant value on it, gave him $50. He forgot pw, and never recorded phrase. 😑 https://t.co/kcQkAyU9Rv
— Erik Voorhees (@ErikVoorhees) January 19, 2020
These basic facts never slow Schiff down. Hardly. They embolden him. He apparently loves being wrong and for a very, very long time. He loves it so much that even when he demonstrates less, considerably less, than basic Bitcoin literacy, and then is proven to be confused, he is undaunted. Onward Schiff goes.
I'll tell you, @PeterSchiff has been a net positive for cryptocurrency.
-Markets crypto to gold bugs
-Loses a small percentage of the total BTC supply
-Ignites fierce discussion about the need for better crypto User Experiences (UX), because we should build for non-techies https://t.co/sTsoBbOb3S
— Omar Bham (Crypt0) (@crypt0snews) January 21, 2020
It’s oddly admirable. Maybe Scientologists are more delusional? Jehovah’s Witnesses? It’s hard to gauge, as Schiff’s unearned confidence is simply off the charts.
A lot of people are making fun of me for confusing my pin with my password. I made a mistake and it cost me my #Bitcoin. But confusing Bitcoin for money is a much larger mistake and those who are making it will lose far more than I did!
— Peter Schiff (@PeterSchiff) January 23, 2020
If you put $1k each in ETH & BTC
4 yrs ago…
You'd have $132k
3 yrs ago…
You'd have $25k
2 yrs ago…
You'd have $825
1 yr ago…
You'd have $3.8k
Wonder why crypto seems schizophrenic?
It's because ppl have wildly different perceptions based on when they got it pic.twitter.com/moAxc52Upc
— Ryan Sean Adams – rsa.eth (@RyanSAdams) January 22, 2020
#6 He Did His Best
I did my best to explain to @KimDotcom that LN on top of #Bitcoin is already Faster & Cheaper than $BCH & will certainly be ready for a Billion users in a year or two. I also explained how $BTC is the ONLY secure/decentralized payment solution.
Now up to his devs to make the call https://t.co/vkEP9NzIuJ
— Tone Vays [Vegas – Unconfiscatable.com] (@ToneVays) January 20, 2020
#5 A Miner’s Incentive
For a miner's incentive to exist, it is not enough to publish the next valid block before anyone else.
It is also necessary that a majority of the hashpower *decide voluntarily* to work on continuing exactly that block.
It's a consensus.
— Javier González González (@JavierGonzalez) May 25, 2018
#4 Oh, Justin
If you’re on @Pornhub, stop what you’re doing. #USDT is now an option for models on Pornhub! Pornhub is using USDT-TRON to support models seeking payment solutions. This is a brilliant way to support the victims of centralized payment platforms like PayPal. #TRON #TRX https://t.co/qwpMf0LgmS
— Justin Sun (@justinsuntron) January 22, 2020
— Jacob Canfield (@JacobCanfield) January 21, 2020
#2 Breaching Fi-douche-iary Duties
Possible breaking story:
Is @excellion breaching his fiduciary duties as an officer of @Blockstream to the shareholders by arbitrarily blocking hundreds (possibly thousands) of potential users and customers on the company account? https://t.co/oT1g4N76Aq
— Marcus Aurelius (@MAurelius99) January 23, 2020
#1 I See Crypto as a Replacement for Cash
"I see crypto as a replacement for cash" – @elonmusk
— David Shares (@DavidShares) January 23, 2020
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