In the latest HBO documentary, Money Electric: The Bitcoin Mystery, the creators claim that bitcoin technology was developed by prominent bitcoin developer, Peter Todd.
Todd denies the allegations, and industry observers express disappointment with the evidence presented by the filmmakers.
The heavily promoted film, directed by Cullen Hoback – who previously directed Q: Into the Storm, a documentary that helped expose those behind the QAnon conspiracy – debuted this Tuesday.
However, bitcoin experts argue that the evidence provided is insufficient to support the claim that Peter Todd is, in fact, Satoshi Nakamoto.
The documentary alleges that Todd used the pseudonym "John Dillon" and faked emails to conceal his identity, pretending not to be Satoshi, while simultaneously "continuing Satoshi's sentences" on discussion platforms like BitcoinTalk.
Hoback reportedly stated that he believes Satoshi accidentally posted from Todd’s account. However, multiple observers pointed out that in that thread, Todd was not continuing Satoshi's thoughts but rather correcting the bitcoin creator.
Analysts at BitMEX Research, the research arm of the major crypto exchange BitMEX, responded, saying, “The 'evidence' for this claim in the film is absolutely pathetic, being both wrong and inconsequential at the same time.”
Peter Todd lol pic.twitter.com/Iq9onsOAGb
undefined Hashed Timelock (@hashedtimelock) October 8, 2024
Another popular pseudonymous Bbitcoiner, Pledditor, reacted by saying, "That was one of the least compelling Satoshi Nakamoto identities I've ever seen."
"This documentary exemplifies why all of the Satoshi Nakamoto theories are flawed. They all rely on the belief that only a very small number of people in the world could have built Bbitcoin," Pledditor added, noting that theorists tend to cherry-pick coincidences in individuals’ lifestyles or backgrounds to fit their confirmation bias.
"It's a flawed methodology that leads to stalking and unethical doxxing," the Bbitcoiner concluded.
Despite the criticism, Cullen Hoback continues to defend his film.
Journalist Izabella Kaminska also offered some support for Hoback, stating that the director's theory is not "laughable," but concluding that, "At the end of the day, Todd being Satoshi is just as plausible as any of the other key suspect members of the pantheon."
Bitcoin was launched on January 3rd, 2009.
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