Revealing Bitcoin’s Creator Satoshi Nakamoto—Once More

A fresh HBO documentary aims to reveal the true identity of Satoshi Nakamoto, the creator of Bitcoin. However, without undeniable evidence, the legend persists.

PETER TODD IS positioned on the top level of a rundown industrial structure located in Czechia, quietly laughing to himself. He has recently been accused on video of being Satoshi Nakamoto, the creator of Bitcoin, whose identity has been a mystery for 15 years.

In the concluding segment of a new HBO documentary, Money Electric: The Bitcoin Mystery, filmmaker Cullen Hoback challenges Todd with the notion that he may be Satoshi. In an earlier study, Hoback revealed the identity of the person behind QAnon. In this instance, he attempts to replicate the tactic with Bitcoin.

“I have to say, you’re quite imaginative—you generate some wild theories,” Todd informs Hoback, before dismissing the notion as “ridiculous.” “I caution you, this will be extremely amusing when you include this in the documentary.”

The film refrains from asserting that it has definitively identified Bitcoin’s creator, lacking undeniable evidence. “For the record, I am not Satoshi,” Todd states in an email. “It’s an unproductive question, as Satoshi would just refuse to answer it.”

The search for Bitcoin’s inventor has produced a wide range of Satoshis over time, including Hal Finney, who received the initial bitcoin transaction; Adam Back, creator of a prior technology referenced in the Bitcoin white paper; and cryptographer Nick Szabo, to mention a few. Some are blamed, while others choose themselves. Yet, despite Satoshi’s various identities, none of them has gained widespread agreement.

“Throughout the documentary, Todd notes that virtually everyone has been suspected of being Satoshi.” “The issue with this type of thing is that individuals engage in all these wild games.”

The press occupies a significant role in the historical pursuit of Satoshi. On the same December day in 2015, Gizmodo independently proposed Australian computer scientist Craig Wright as a possible Satoshi. The initial tale, grounded in a cache of stolen documents, suggested that Wright had “either created Bitcoin or is an exceptional deceiver who desperately wants us to think he did.” A few days later, Press released a second article, highlighting inconsistencies in the evidence that backed the latter interpretation.

In March, a UK High Court judge decisively ruled that Wright is not Satoshi, effectively concluding a case initiated by several crypto companies to stop the Australian from filing nuisance lawsuits.

Over the two months I spent reporting on the Wright trial, several Satoshis showed up in my inbox as well. “The world is unprepared to discover the identity of Satoshi Nakamoto, and they will remain so unless specific prerequisites are fulfilled,” one of them wrote in a confused message.

Honestly, I even encountered a potential Satoshi face-to-face, in the lobby outside the courtroom. The individual, who identified himself as Satoshi, took a seat in the public gallery to listen to the closing arguments. Before too long, he dozed off, chin resting on his chest. One of the other witnesses dubbed him “Sleeptoshi.”

Many bitcoin enthusiasts embrace this odd, cryptocurrency take on “I Am Spartacus,” favoring the idea that the identity of Bitcoin’s creator should always stay unknown. Unencumbered by the dominant sway of a founder, Bitcoin has developed within a realm of untouched anarchy, they assert, where no individual’s viewpoint holds greater value than another’s. All are Satoshi, and none are Satoshi.

“Satoshi’s most significant contribution to humanity was Bitcoin,” Jameson Lopp, a pioneer in the Bitcoin community and founder of the crypto custody firm Casa, shared with me earlier this year. “His second most remarkable talent was to vanish.”

The primary proof presented in the documentary supporting the theory that Todd is the creator of Bitcoin is a forum discussion from December 2010 where Todd seemingly is “completing Satoshi’s thoughts,” as described by Hoback. The subject of that discussion—a method to prioritize transactions according to the fee paid—is something Todd would eventually incorporate into Bitcoin as a contributing developer.

Hoback cites similarities in the grammar and syntax shared by Todd and Satoshi as supporting evidence, along with the timing of Satoshi’s messages, many of which were created during the summer, a period when Todd would not have had college courses to attend. (Todd disagrees with the description of his availability throughout those summers in question.)

Todd is widely recognized in cryptocurrency communities for his input on the Bitcoin codebase and his outspoken support for the technology as a cash alternative—a purportedly surveillance-resistant resource for the online realm. During a conference in 2023, I observed Todd, who was on a panel, tell the audience “screw you” unless they utilized their ability to make cash transactions that are untraceable by banks or government. Todd has admitted that he once attempted to create a technology akin to Bitcoin, prior to Satoshi achieving it first.

In their 2008 white paper, published amid a worldwide financial crisis, Satoshi outlined a concept for a novel electronic currency and peer-to-peer payment network that would eliminate greedy financial middlemen. In January 2009, they initiated the first bitcoin transfer. Just over two years later, they disappeared from the spotlight, leaving a stash of bitcoin—now valued in the billions—that has remained untouched since.

Those motivated to pursue the hunt, including Hoback, highlight the tremendous impact Satoshi would have if they were to come back, given the magnitude of their inactive bitcoin holdings. This is an asset that has now become part of 401ks, after all. The most fervent believers even believe it will replace the US dollar as the primary global currency.

Despite the urgency and gravity with which he now dismisses the allegation, Todd engages in Satoshi doublespeak, stating to the camera earnestly that he is Satoshi, then breaking into a sly smile. “Incidentally, everyone is Satoshi,” remarks Todd, at one point. Another bitcoin enthusiast in the film refers to Todd as “the contrarian of contrarians.”

However, regardless of whether he is the true Satoshi, Todd believes that certain secrets are best kept hidden and some inquiries better left unmade. Revealing Satoshi, he claims, would subject them to dangers regarding their personal safety. Consider the interest Satoshi could attract from aggressive extortionists, due to his multibillion-dollar stash of bitcoin.

“Satoshi clearly intended to remain undiscovered, and for valid reasons.” “Nobody ought to assist those searching for Satoshi,” Todd stated in his email to the media. “Mocking the question itself is simply good etiquette.”