The recent release of the documentary “Money Electric: The Bitcoin Mystery” on HBO has revived one of the biggest mysteries in modern digital history: the identity of Satoshi Nakamoto, the creator of Bitcoin. The film suggests that Peter Todd, a well-known developer in the Bitcoin community, could be the man behind this enigmatic pseudonym.
However, Todd wasted no time in responding. Even before the documentary aired, he categorically denied being Satoshi through several posts on X (formerly Twitter), stating that he was not the inventor of Bitcoin.
A suspenseful, yet contested, documentary
Directed by Cullen Hoback, “Money Electric: The Bitcoin Mystery” presents itself as an international investigation seeking to uncover the identity of Satoshi Nakamoto. Throughout this nearly two-hour documentary, several personalities from the cryptocurrency world are interviewed, and clues are examined before attention turns to Todd.
Towards the end of the film, some exchanges between Todd and Hoback sow doubt. Todd sometimes appears to toy with the director’s speculations, even hinting that he could be Nakamoto, only to backtrack in other clips. This ambiguity has sparked a strong reaction on social media, particularly on X, where the crypto community has been quick to criticize the film’s conclusions.
Satoshi Nakamoto: a mysterious identity for 15 years
Since Satoshi Nakamoto’s disappearance in 2010, the question of his identity has remained one of the greatest topics of debate within the Bitcoin community. Although his name has become legendary, very little is known about his true identity. Nakamoto is credited as the mind behind Bitcoin and the revolutionary concept of decentralized transactions through blockchain technology.
Today, Bitcoin is the most capitalized cryptocurrency, with a market value surpassing $1.2 trillion in 2024. According to some estimates, Satoshi Nakamoto could hold around 1.1 million bitcoins, worth nearly $68 billion, a treasure that remains untouched.
The presented arguments and the crypto community’s reaction
Long before the documentary’s release, speculation about Satoshi Nakamoto’s identity was already booming. Hoback himself had warned that the documentary’s revelation would inevitably provoke debates, acknowledging that some would accept the conclusions while others would categorically reject them. According to him, “It is the very nature of this field.”
The decentralized prediction platform Polymarket recorded a volume of over $20 million in bets regarding the identity that the documentary would reveal. Names like Len Sassaman, Nick Szabo, Adam Back, and David Kleiman were considered favorites to embody Satoshi. Surprisingly, Peter Todd had not even been mentioned by users as a potential candidate.
The HBO documentary presents several arguments to support the idea that Peter Todd could be Satoshi Nakamoto. Firstly, in 2010, using a new account, Todd responded to a message from Satoshi on Bitcointalk, suggesting that he might have inadvertently posted from his own account. A few days after this incident, both accounts went silent, further strengthening the potential link between Todd and Nakamoto.
Furthermore, Todd implemented an idea discussed in the same thread: “Replace-by-Fee” (RBF), a feature that allows modifying a Bitcoin transaction by adding additional fees. The documentary claims that Todd promoted this functionality under the pseudonym “John Dillon,” adding another alias to his name.
Another point raised is the use of British or Canadian spellings by both accounts, which could indicate the same author. Additionally, the documentary draws a parallel between the times when Satoshi published his messages and the rhythm of a student, with more active periods over the weekends, coinciding with Todd’s study period.
Lastly, the documentary mentions an instance where Todd allegedly mentioned the “sacrifice” of bitcoins, interpreted as a reference to the destruction of bitcoins owned by Satoshi, thus highlighting a symbolic connection between Todd and Nakamoto’s missing funds.
Conclusion: an investigation far from being closed
Although Hoback’s documentary has sparked immediate controversy, the question of Satoshi Nakamoto’s identity remains open until stronger arguments are provided. For many cryptocurrency enthusiasts, theories will continue to abound, and every new lead only reinforces the aura of mystery surrounding the creator of Bitcoin.
With this latest attempt to reveal Nakamoto’s identity, the debate over the origin of Bitcoin continues, along with the numerous speculations that surround it.
