“Money Electric: The Bitcoin Mystery,” HBO’s latest documentary, aired and hit the Max streaming service Tuesday night, promising to unmask Satoshi Nakamoto, the enigmatic creator of Bitcoin. 

The documentary, directed by Cullen Hoback, explores Bitcoin’s origins and introduces several figures from the early days of its development, including Blockstream CEO Adam Back.

Hoback ultimately zeroes in on Bitcoin Core developer Peter Todd, presenting a series of clues suggesting that he could be the crypto’s elusive inventor.

Primarily, Hoback focuses on a forum post from Todd in reply to the pseudonymous Satoshi, which the director believes was actually Todd continuing Satoshi’s thought—as if it was the same person using multiple accounts.

He also notes Todd’s writing style in relation to Satoshi, Todd’s own efforts as a teenager to turn the earlier Hashcash experiment into a functional currency, and what’s been described as non-professional-level C++ code behind the Bitcoin protocol. Finally, Hoback suggests that the Satoshi pseudonym was used so that people would take Bitcoin seriously.

But, like previous attempts to unmask Satoshi, the film fails to provide definitive proof, and critics have dismissed the theory as speculative—and based on faulty assumptions.

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Author: Sebastian Sinclair,Andrew Hayward