Peter Todd, a former Bitcoin developer, has come under scrutiny following the release of HBO's documentary 'Money Electric: The Bitcoin Mystery.' In the film, filmmaker Cullen Hoback suggests that Todd is the pseudonymous creator of Bitcoin, Satoshi Nakamoto. However, Gregory Maxwell, another ex-Bitcoin developer, has pointed out critical details that undermine Hoback’s assertions.
The nearly two-hour documentary, promoted as a 'globe-trotting investigation' into Bitcoin's origins, featured interviews with various Bitcoin contributors and examined numerous clues before focusing on Todd. Immediately following the documentary's release, Todd denied the allegations.
The documentary’s central argument rests on a 2010 reply to Satoshi on the BitcoinTalk forum, where Hoback claims Todd inadvertently completed Satoshi’s post from his own account. After this reply, both accounts remained inactive, and Todd later implemented the replace-by-fee feature discussed in the original thread, which allows senders to replace unconfirmed transactions with ones that have higher fees for faster processing.
Hoback also mentioned Todd discussing 'sacrificing' bitcoins, arguing that this referred to destroying Satoshi's coins, estimated at around 1.1 million BTC, valued at approximately $68 billion.
In discussions following the documentary, Maxwell remarked that Todd’s account was named 'retep' at the time and bore no obvious connection to his real identity. He cautioned against the tendency to accuse individuals of being Satoshi, warning of the potential for harassment and threats against their families.
Todd responded to Maxwell’s points on X, stating that if Hoback genuinely aimed to uncover Satoshi's identity, he would have consulted with him and Adam Back to identify flaws in his theory. Back, the creator of the Hashcash proof-of-work system, has also been speculated to be Satoshi, a claim he denies.
Prior to the documentary's airing, the decentralized prediction platform Polymarket generated over $44 million in volume as users speculated on who the documentary would name as Bitcoin's creator. Key contenders included Len Sassaman, Nick Szabo, Adam Back, and David Kleiman, with Todd not being among the names suggested.
Following the documentary’s airing, many in the Bitcoin community took to social media to critique and debunk the film's conclusions, reinforcing that the mystery of Bitcoin's creator may persist.
Disclaimer: The Block is an independent media outlet. As of November 2023, Foresight Ventures is a majority investor. This article is for informational purposes only and not intended as financial advice.
