In This Story
Remember the buzz surrounding the HBO (WBD+1.07%) documentary that claimed to have uncovered the true identity of Bitcoin’s mysterious creator, Satoshi Nakamoto? It appears that the person identified as Satoshi has now gone underground, reportedly driven into hiding by an onslaught of intrusive questions and concerns over potential threats.
Peter Todd, a 39-year-old Canadian software developer who played a key role in Bitcoin’s early development, is furious after being named as Satoshi Nakamoto in the documentary “Money Electric: The Bitcoin Mystery,” made by filmmaker Cullen Hoback.
“This was clearly going to be a circus,” he told Wired in an email.
Todd told Wired that he was under the impression the documentary would focus on the history of Bitcoin, not on revealing the identity of its creator. After the release of the documentary, Todd denied creating Satoshi, but the bombardment of questions persisted.
Now, Todd says he is facing harassment, with personal safety as his top concern. If people believe he is Satoshi Nakamoto, they may assume he holds over one million Bitcoins—the estimated amount the creator holds across multiple wallets, currently valued at more than $67 billion—making him one of the wealthiest individuals in the world and a giant target.
“Falsely claiming that ordinary people of ordinary wealth are extraordinarily rich exposes them to threats like robbery and kidnapping,” Todd told Wired. “Not only is the question dumb, it’s dangerous. Satoshi obviously didn’t want to be found, for good reasons, and no one should help people trying to find Satoshi.”
What’s in the documentary?
The documentary primarily delves into the well-established history of Bitcoin, covering familiar ground that has been public knowledge for years. It revisits the origins of Bitcoin, exploring why it was created and how it evolved into a mainstream financial asset.
It’s only in the final 15 minutes that the director Hoback abruptly shifts focus to Peter Todd, suggesting that he could be Satoshi Nakamoto, the anonymous creator of Bitcoin.
The crypto community ridiculed filmmaker Hoback for producing a documentary criticized for its lack of factual accuracy and its heavy reliance on suspense over substance. Many in the community felt that Hoback prioritized sensationalism rather than conducting thorough research, turning what could have been an insightful exploration into a speculative thriller.
If the documentary is to be believed, Todd was only 23 years old when Bitcoin’s white paper was released. This assertion raises eyebrows, as it seems implausible that an individual at such a young age could have spearheaded a financial revolution of this magnitude alone.
Hoback is known for previously directing the documentary series “Q: Into The Storm,” which set out to expose Q, the creator of the QAnon conspiracy theory — a far-right political movement that emerged on the message board 8chan in 2017. Ron Watkins, a former admin on 8chan and the person named as Q in the series, also disavowed Hoback’s conclusion.
Hoback stands by the claims he made in his bitcoin documentary, saying Todd’s reaction to being asked about being Satoshi was what convinced him.
“The end scene is really about his body language—his expressions. Were you ever caught in a lie? That’s what Peter’s reaction reads like to me,” Hoback told Wired.