Adam Back, founder of Blockstream and early Bitcoin developer, has dismissed claims made in HBO’s Money Electric: The Bitcoin Mystery that fellow developer Peter Todd is the elusive creator of Bitcoin, Satoshi Nakamoto. Back expressed confidence that Satoshi’s true identity remains unknown and is likely not someone who has been publicly speculated.
“I’m fairly confident that it’s nobody that has been talked about,” Back said. He highlighted that many skilled individuals understand cryptography, and Satoshi could easily be someone under the radar.
Why Bitcoin Doesn’t Need an Eccentric Founder
Back argued that Bitcoin’s lack of a prominent, public-facing founder is a positive factor for the cryptocurrency. He compared Bitcoin’s decentralized nature to companies with charismatic leaders, who often create risk vectors within projects.
Source: Peter Todd
“The absence of a public founder aligns with Bitcoin’s mission of becoming global electronic money,” Back explained. He added that it makes Bitcoin feel more like a discovery rather than a traditional startup, strengthening its position as a decentralized commodity.
Concerns Over HBO Documentary
The HBO documentary sparked controversy by naming Peter Todd as Satoshi Nakamoto, a claim Todd has publicly denied. The filmmakers based their argument on a 2010 BitcoinTalk forum post, suggesting Todd was controlling both his and Satoshi’s accounts. Todd’s response, critics argue, was sarcastic and misunderstood by the filmmakers.
Moreover, Todd didn’t join Bitcoin development until 2014, several years after Satoshi disappeared, and was studying for an arts degree in 2008, making him an unlikely candidate for the inventor of the Bitcoin protocol.
Importance of Correct Representation
Despite rejecting the claims, Back stressed the importance of early Bitcoin developers speaking to documentary makers to prevent the spread of misinformation. He noted that unreliable sources could damage Bitcoin’s image at a crucial time when the cryptocurrency is entering mainstream adoption.
The uproar surrounding HBO’s claims highlights the ongoing mystery of Satoshi Nakamoto’s true identity, a puzzle that continues to captivate the crypto community.
