TL;DR
- HBO claims in a documentary that Peter Todd is Satoshi Nakamoto, based on circumstantial evidence.
- Todd has denied this claim, calling it “ridiculous” and rejected by the Bitcoin community.
- Critics of the documentary argue that such theories lack evidence and endanger innocent people.
A recent HBO documentary titled Money Electric: The Bitcoin Mystery has stirred controversy by claiming that Peter Todd, a Canadian Bitcoin developer, is Satoshi Nakamoto, the pseudonym under which the crypto system was created. The documentary, directed by Cullen Hobak, presents a series of circumstantial pieces of evidence to support this claim, provoking mixed reactions within the community.
The documentary suggests that Todd, who was involved in the Bitcoin community from its early days, may have used the Nakamoto pseudonym to increase the project’s credibility.
I'm not Satoshi.
— Peter Todd (@peterktodd) October 8, 2024
According to this theory, presenting himself as an established cryptographer instead of a mere art student, as Todd was at the time, would have helped Bitcoin be taken more seriously. Among the evidence presented are Todd’s online posts, in which he described himself as “the world’s leading expert on how to sacrifice your Bitcoins.”
Circumstantial Evidence and ‘Coincidences’
Some interpreted this statement as a possible admission of having destroyed access to the 1.1 million Bitcoins supposedly belonging to Nakamoto. Additionally, the documentary addresses an incident in which Todd allegedly posted from Satoshi’s account on the BitcoinTalk forum in 2010, further fueling speculation.
Another key element in the documentary’s narrative revolves around the Replace-by-Fee (RBF) proposal, a technical mechanism that Todd advocated within the BTC community. The documentary argues that only someone with deep knowledge of Bitcoin’s original code, like Nakamoto, could have introduced this feature.
The Community Defends Peter Todd
However, the documentary’s revelations have been harshly criticized by key figures in the crypto industry. Peter Todd has categorically rejected the claim, calling it “ridiculous” and publicly clarifying that he is not Satoshi.
The community at large has also expressed its dissatisfaction. Pledditor, a respected member of the BTC community, argued that these types of theories tend to rely on coincidences and lack concrete evidence, which puts innocent people at risk. Other experts, such as Ki Young Ju, founder of CryptoQuant, went further, calling the documentary “disgusting” for presenting this theory without the backing of conclusive proof. BitMEX Research and Muneeb Ali, CEO of Trust Machines, also rejected the idea that Todd is Nakamoto, labeling the theory as unfounded and lacking solid basis
