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HBO’s documentary, Money Electric: The Bitcoin Mystery, has ignited controversy by asserting that Canadian Bitcoin developer Peter Todd is Satoshi Nakamoto, the mysterious founder of Bitcoin. Despite the documentary’s claims, the cryptocurrency community largely dismisses the theory as unfounded.
The film presents evidence such as Todd’s long-term involvement in the crypto space, his early interactions with figures like Hal Finney and Adam Back, and his work on projects like Mastercoin and Dark Wallet. HBO highlights a cryptic online post where Todd called himself “the world’s leading expert on how to sacrifice your Bitcoins,” suggesting he might have destroyed access to the estimated 1.1 million BTC attributed to Nakamoto.
The documentary also alleges that Todd may have accidentally posted from Satoshi’s BitcoinTalk account in 2010 and points to his support for the Replace-by-Fee (RBF) feature as proof of his deep understanding of Bitcoin’s code.
Community Doubts HBO
Todd firmly denied being Satoshi Nakamoto, stating on X on October 8, “I am not Satoshi.” The crypto community quickly debunked HBO’s claims. Web3 researcher Pix noted that in 2008, Todd was completing a fine arts degree and not involved in cryptography, making the Satoshi pseudonym unnecessary.
Pix also dismissed the significance of the alleged BitcoinTalk post and clarified that Todd introduced RBF in 2014, years after Satoshi had left Bitcoin development. Additionally, the “sacrificing bitcoins” comment was seen as a joke about blockchain integrity.
Experts have voiced strong skepticism. CryptoQuant researcher Ki Young Ju called the documentary “disgusting,” while BitMEX Research labeled HBO’s evidence as “clearly ridiculous” and found “zero reason” to believe Todd is Satoshi. Prominent figures also rejected the theory, maintaining that Satoshi’s true identity remains unknown.
Market Skepticism: Polymarket, a prediction platform, did not include Peter Todd as a betting option for identifying Satoshi, with bettors favoring other speculated figures like Nick Szabo, Hal Finney, and Elon Musk.
