Original｜Odaily Planet Daily
Author: jk
On October 9, local time in the United States, HBO launched a new documentary "Electric Money: The Mystery of Bitcoin", directed by Cullen Hoback, a famous director known for solving puzzles. In the film, the director focused on various hidden clues and evidence and believed that the true identity of Satoshi Nakamoto was Canadian programmer Peter Todd , which triggered a heated discussion among the audience about the identity of Satoshi Nakamoto, the founder of Bitcoin.
According to Politico, Todd, 39, graduated from the Ontario College of Art and Design in Toronto and was only 23 years old when the Bitcoin white paper first proposed the idea of a decentralized monetary system.
Todd is no stranger to the cryptocurrency community: he is not only a senior Bitcoin core developer, but he also publicly communicated with Satoshi Nakamoto before he disappeared from crypto forums in 2010. As a result, his name has always been very visible in the community, but he is rarely considered a prime suspect in Satoshi Nakamoto’s identity. Todd’s name did not even appear in Polymarket’s predictions about Satoshi Nakamoto’s identity before the documentary was aired.
The New York Times reported: “Some Bitcoin believers also scoff at the idea that Todd is Satoshi Nakamoto, arguing that it is impossible for the 23-year-old cryptography whiz to have conceived such a complex system when the Bitcoin white paper was released.”
Many doubts: Perhaps, Satoshi Nakamoto is a master at hiding things from the public?
In this documentary, the director provides a lot of evidence to support his theory. One of the most convincing clues is an interaction on the Bitcoin forum in 2010, where Todd replied to Satoshi's post and continued Satoshi's ideas, which may indicate that they are the same person, but Todd accidentally used the wrong account to speak. Soon, Todd's account fell silent, and Satoshi disappeared from public view.
The film also points out several inconsistencies in Todd’s story: his old resume claiming he was proficient in C++ (the programming language used in Bitcoin’s original code), but he later denied knowing C++; the fact that he may have created a fake account to cover his tracks in building a new Bitcoin feature called “replace-by-fee”; and the similarities between his word choice and writing style and that of Satoshi Nakamoto.
When Hoback presents this theory on camera, Todd's reaction is hilarious. He stutters, scoffs, and calls the idea "ridiculous," but he doesn't really defend himself or point to a more plausible suspect.
“We gave him ample opportunity to explain why he made that post in 2010,” Hoback told the New York Times. “He not only did not answer the question, but he was at a loss for words. But Peter is always very articulate.”
"Satoshi Nakamoto" responded: I am not Satoshi Nakamoto at all!
"For the record, I am not Satoshi Nakamoto," Bitcoin Core developer Peter Todd said in a statement to CNN. Todd accused the film of being irresponsible and said it endangered his life. After all, the current consensus in the crypto community is that the addresses associated with Satoshi Nakamoto hold a huge amount of Bitcoin that is enough to disrupt the entire Bitcoin price.
“Cullen is just speculating here,” said Todd, who claims he was not approached by HBO before the film’s release or given a chance to see it before it aired. “He’s exaggerating coincidences, which is, ironically, typical of conspiracy thinking.”
The director team: In an interview, they claimed that this speculation was well-founded
The film’s director, Cullen Hoback, is already well-known for his work as a codebreaker. Specifically, solving internet mysteries has become a hallmark of Hoback, who rose to fame for possibly unmasking the man behind QAnon in the HBO series “Q in the Storm.” He spent years tracking down various theories about Nakamoto’s identity before finally zeroing in on Todd.
Director Hoback said he was not surprised by Todd's denial. In the process of making the entire documentary, Hoback and his team spent three years traveling around the world, interviewing almost all of Bitcoin's early developers, and tracking down clues scattered in online forums over the years. He believes that Todd's denial is just to cover up the fact that he is Satoshi Nakamoto.
"Peter was present that day (when he was interviewed). He knew what was discussed. He had ample opportunity to explain himself," Hoback wrote.
Before Todd denied it, CNN had a conversation with Hoback to discuss why he was so confident in his theory, whether he was worried about being sued, etc. The following is the full translation of the CNN conversation provided by Odaily:
CNN: The identity of the man who created Bitcoin is one of the great mysteries of our modern times. Why is his identity so important?
Cullen Hoback A: If Bitcoin hadn't been adopted, if it hadn't been accepted by the state, if it hadn't been included in retirement savings plans, that would be another matter. But Bitcoin is becoming an important pillar of the financial system. At the same time, this anonymous figure may have a large amount of Bitcoin, so understanding whether this person still holds the keys to their crypto wallets, what their thoughts and intentions are, is critical to the importance of Bitcoin.
CNN: The Satoshi Nakamoto story – what impact do you think it has had on the Bitcoin narrative?
Hoback: I think the mythology around this anonymous figure was largely beneficial because it began to have an almost divine quality, as if it had been sent down from heaven to humanity. This allowed people to believe that Bitcoin was pure and could solve all of the world's problems.
I think this myth is actually a liability for Bitcoin at this point in time. That’s one of the reasons why it’s important to try to debunk it now, because Bitcoin is so embedded in our financial system and impacts most people’s lives.
CNN: You are not the first journalist to try to uncover the identity of Satoshi Nakamoto. I am reminded of the Newsweek cover story that claimed to have revealed Satoshi Nakamoto. How confident are you in your theory?
Hoback: I think we present a strong case in the film. Ultimately, just like in a trial, you present the best evidence you can. While we don’t directly show Satoshi completing the transaction online, we confront him with it strongly in the film, and I think their reactions are more illustrative in some ways than the evidence itself.
CNN: Assuming your theory is correct, Peter Todd is Satoshi Nakamoto. Why do you think he agreed to be interviewed in this documentary if he really was hiding this secret?
Hoback: I think these people who have created huge impacts, who have created global movements, have secrets. You can imagine if you have a secret like that, wouldn't you want some recognition? You might think: Hey, I've been hiding it for so long, maybe being on camera is a better cover. Who would believe that Satoshi Nakamoto would actually be on camera?
CNN: At the end of the film, you confront Peter Todd. What was that day like for you?
Hoback: I first met Peter Todd at a Bitcoin conference, introduced to me by (Blockstream CEO) Adam Back. When Adam introduces you to someone, you pay attention. So I shot that scene with both of them and Space Monkey, but I didn’t know the importance of Peter Todd at the time.
As I pieced together the code problems, I began to wonder if Adam Back really didn't want to be seen as Satoshi Nakamoto, and part of the pressure came from Peter. This made me pay more attention to Peter Todd's background.
CNN: Regarding the 2010 forum post you're suspicious of, do you think that was left there intentionally by Peter Todd?
Hoback: I think the way it was written and the continuity of the sentences was very striking. When I looked at the evidence side by side, I couldn't help but ask: Why didn't he delete this post?
In response, Todd said in a statement to CNN: "It's just a coincidence." He explained that he was just correcting a small mistake made by Satoshi Nakamoto.
CNN : With all the evidence you point out in the film, were you worried that HBO wouldn't let you name Peter Todd as the prime suspect?
Hoback: All the evidence we present in the film is based on facts. I gave Peter Todd ample opportunity to refute these claims, but he did not take them. And, in fact, he is the only person I interviewed who claimed to be Satoshi Nakamoto (note: but most people think that Todd said this in the context of the time to protect the anonymity of the founder and support free speech).
In response to Todd's denial, Hoback said Todd "should have watched the movie before making a comment."
As a documentary that attempts to uncover the mystery of Satoshi Nakamoto, "Electric Money: The Mystery of Bitcoin" has undoubtedly reignited people's heated discussions about the history of Bitcoin that is hidden in the fog. Although Peter Todd has repeatedly denied that he is Satoshi Nakamoto, various clues and evidence in the documentary closely link him to this identity. This makes the whole incident full of conspiracy theories. No matter how he defends himself, it seems difficult to get rid of the logical trap of a wall-faced man. Who can prove that Todd's denial is not to hide his huge wealth that cannot be revealed?
As the film shows, the pursuit of Nakamoto's identity is more like an endless cat-and-mouse game, with each new speculation and denial making the mystery more complicated. For those who pursue the truth, perhaps the ending is not important, because this ever-expanding conjecture itself is part of the Bitcoin legend.
