the name given to a troll that shills for bitcoin in internet discussions, and whose behavior toward others is always toxic when those discussions might have any hint of negativity about bitcoin; usually posts under a pseudonym or anonymously; most often found in discussion forums such as Slashdot and Reddit, and/or article comment sections. They'll often write in support of/upvote their own replies using sockpuppet accounts. They are also sometimes referred to as a Bitcoin Cultist or Bitcoin Maximalist.
Gets their name for two reasons:
1. they often compare all forms of currency other than bitcoin as being as worthless as the mineral pyrite in their arguments when shilling for bitcoin
2. they themselves are chasing the "fool's gold" (bitcoin) in religious/cultist ways
Some believe that no self-respecting bitcoin owner would waste their time to make their arguments to people whom they consider "a lost cause" themselves, and since most of these troll posters keep replying in discussions with the same tired arguments concocted in their echo chambers ad infinitum (i.e. to always get the last word), it is thought that these posters are simply poor people getting paid by said bitcoiners per post, likely in Dogecoin.
Gets their name for two reasons:
1. they often compare all forms of currency other than bitcoin as being as worthless as the mineral pyrite in their arguments when shilling for bitcoin
2. they themselves are chasing the "fool's gold" (bitcoin) in religious/cultist ways
Some believe that no self-respecting bitcoin owner would waste their time to make their arguments to people whom they consider "a lost cause" themselves, and since most of these troll posters keep replying in discussions with the same tired arguments concocted in their echo chambers ad infinitum (i.e. to always get the last word), it is thought that these posters are simply poor people getting paid by said bitcoiners per post, likely in Dogecoin.
We were having a discussion about Ethereum, so naturally a Pyrite Pete came along to claim we were all wrong.
by AL Katraz July 21, 2021
A derogatory slur for any supporter of the bitcoin technology with no regard for context or reasoning. Most often used by trolls, wall street coke fiends, people invested in the various knock-off technologies or existing financial system establishment.
Bitcoin supporter in response to Etherium Hack Bitcoin remains the only major cryptocurrency solution with no known security flaws despite being the highest profile hacking target in the world. Troll ReplyLOL Another bitcoin boomer L0s3r. Pyrite Pete strikes again!
by shaitand August 2, 2021