Bitcoin’s Mystery Deepens: Former Developer Debunks HBO Documentary’s Claim on Satoshi Nakamoto's Identity

A new HBO documentary, Money Electric: The Bitcoin Mystery, has stirred up fresh debates in the crypto world by suggesting that Peter Todd, an early Bitcoin developer, could be the elusive creator, Satoshi Nakamoto. However, former Bitcoin Core developer Gregory Maxwell quickly pointed out a critical flaw in this theory, questioning the validity of the filmmaker's conclusion.

The Documentary’s Bold Claim

Money Electric: The Bitcoin Mystery bills itself as a global investigation into the true identity of Bitcoin’s pseudonymous creator, Satoshi Nakamoto. The film ultimately narrows in on Peter Todd, a notable figure in the Bitcoin community, as the man behind the mysterious persona. This revelation was based on various clues, including a supposed slip-up on the BitcoinTalk forum and Todd’s involvement in implementing the replace-by-fee feature, a key aspect of Bitcoin's development.

The filmmakers also pointed to Todd’s pseudonym “John Dillon,” his use of British/Canadian spellings, and a posting schedule that coincided with his student timetable, further strengthening their case.

Maxwell’s Key Objection

Gregory Maxwell, another early Bitcoin Core developer, was quick to criticize the documentary’s claims. In an online discussion following the film's release, Maxwell highlighted a critical flaw in the evidence. According to him, during the period when Todd supposedly “finished” Satoshi’s post, Todd was using the pseudonym ‘retep,’ which was not linked to his real identity. If Todd had accidentally posted as Satoshi, Maxwell argued, he could have easily abandoned the account. Instead, Todd later renamed it to his legal name, which Maxwell contends undermines the idea of a cover-up.

Todd himself supported Maxwell’s observations, remarking on X (formerly Twitter), “If Cullen Hoback [the filmmaker] had actually wanted to find Satoshi, he would have presented his theories to Adam Back and I to see if there wasn't some trivial flaw in them like this.”

Dangers of Unfounded Accusations

Maxwell also warned against the danger of making accusations about Satoshi Nakamoto's identity. Over the years, several individuals have been named as potential candidates, and these claims have led to real-world consequences, including threats and extortion against the accused and their families. This underscores the risks associated with speculative and sensationalized investigations into Satoshi’s identity.

The Controversy on Social Media

Following the documentary’s release, the crypto community took to social media, especially X, to voice their skepticism. Many users criticized the documentary for sensationalizing a narrative without offering substantial evidence. This was not the first time claims about Satoshi's identity had been met with backlash; similar attempts in the past have also failed to provide conclusive proof.

Conclusion: The Mystery of Satoshi Continues

While Money Electric: The Bitcoin Mystery offers an intriguing theory, Maxwell’s objections and the broader crypto community’s skepticism suggest that the mystery of Bitcoin's creator is far from being solved. For now, Satoshi Nakamoto’s identity remains one of the internet’s greatest unsolved puzzles, and many Bitcoin advocates believe it’s a mystery better left unsolved.