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.
We were having a
discussion about
Ethereum, so
naturally a Pyrite Pete came along to claim we were all wrong.