HBO Documentary by Cullen Hoback Claims Bitcoin Developer Peter Todd is Satoshi Nakamoto

An HBO documentary titled “Money Electric: The Bitcoin Mystery,” directed by Cullen Hoback, asserts that Peter Todd, a known bitcoin core developer, might be the enigmatic Satoshi Nakamoto. The documentary, set to premiere on October 8, 2024, has stirred significant discussion regarding the real identity of Bitcoin’s founder. Hoback’s allegations are aimed at unraveling the decade-long mystery of the creator of the $1.2 trillion cryptocurrency.

In the film, Hoback confronts Todd directly about his involvement with Bitcoin since its early days. Hoback suggests that Todd, who began contributing to Bitcoin’s code in 2012, could have used the alias Satoshi Nakamoto to ensure Bitcoin’s credibility. By suggesting its creation by an esteemed cryptographer, Hoback argues that Todd could mask his young age and lack of recognition in the cryptography community at the time.

The documentary draws on several pieces of evidence, including Todd’s technical work on Bitcoin and a leaked 2013 email exchange allegedly linking him to a U.S. intelligence plot to modify Bitcoin. Hoback suggests that Todd’s correspondence with an anonymous figure referred to as John Dillon indicates Todd’s covert dominance over Bitcoin’s original vision.

Despite these claims, Todd denies being Satoshi Nakamoto in a statement to Coindesk, describing Hoback’s theory as “grasping at straws.” Todd argues that the documentary’s claims are unsubstantiated and notes that this will amuse the crypto community when viewed.

The documentary attempts to address Satoshi’s identity by considering candidates among the original “cypherpunks,” a network known for prioritizing privacy and cryptography during Bitcoin’s inception era. Figures like Adam Back, the founder of Blockstream, Roger Ver, and other early Bitcoin enthusiasts make appearances in the film.

While the documentary boasts an impressive production budget and interviews from significant figures in the cryptocurrency space, it has drawn skepticism. Critics point out the absence of any decisive evidence linking Peter Todd to Satoshi Nakamoto’s reputed 1.1 million bitcoins.

Moreover, some experts suggest that Hoback’s conclusion might be premature. Journalistic efforts, including those by Nathaniel Popper, have previously pinpointed cryptographer Nick Szabo as a more plausible candidate for Satoshi’s identity, based on linguistic analyses and other evidence.

The film also delves into major events in Bitcoin’s history, including its “blocksize wars” and a broader look at the cryptocurrency evolution post-2010. However, questions remain regarding the documentary’s core claim, with many in the community demanding more substantial evidence before reconsidering the mystery surrounding Satoshi Nakamoto.