Canadian cryptographer and computer scientist Peter Todd has reportedly gone into hiding following the HBO documentary Money Electric: The Bitcoin Mystery investigative report aired on October 9.
The film makes a pretense at revealing the actual name of “Satoshi Nakamoto,” the mysterious person behind the development of the digital asset known as Bitcoin. Todd was concerned that the documentary portrayed him in a wrong way and that he has faced threats since then that made him seek protection.
The documentary examines various individuals believed to be potential candidates for Nakamoto's identity before culminating in Todd's statement: "Well yeah, I’m Satoshi Nakamoto." Despite this assertion, Todd has consistently denied being Nakamoto and expressed concern over the misleading claims presented in the film. In an interview with Wired, Todd stated that he initially agreed to participate in the documentary about Bitcoin's history, not a targeted hunt for key figures involved in its creation.
Todd criticised the documentary's methodology, asserting that the filmmaker, Cullen Hoback, relied on unfounded evidence to support its conclusions. According to Todd, he has received numerous harassing communications since the documentary's release, including requests for financial assistance. This harassment has heightened his fears for personal safety, prompting him to retreat from public life.
Todd's situation raises concerns regarding the potential dangers of being falsely identified as Satoshi Nakamoto. He noted that misidentifications could lead to threats like robbery or kidnapping, particularly if the public perceives that individuals linked to Bitcoin possess significant wealth. Todd emphasised that the creator of Bitcoin intentionally chose to remain anonymous for valid reasons, and efforts to unmask Nakamoto could inadvertently jeopardise the safety of those involved.
Hoback, the documentary's director, has contested Todd's claims of being in danger, suggesting that exposing Nakamoto has not resulted in tangible threats to the individuals investigated. Hoback maintains that identifying Nakamoto is essential, given this individual's significant influence over Bitcoin's total supply.
The lack of information about Nakamoto is because its author intentionally chose to remain unknown. Nakamoto adopted a pseudonym and later did not disclose personal details about himself while interacting online, and there has been a lot of controversy about his identity. The assumption that Nakamoto controls a substantial amount of Bitcoin adds to the intrigue, as the revelation of this identity could have profound financial and legal consequences.
Todd contends that the pursuit of Nakamoto's identity is ultimately futile. He argues that Bitcoin has thrived under a decentralised model, where ideas are evaluated through collective consensus rather than the reputation of a single individual. Todd's perspective suggests that the ongoing search for Nakamoto detracts from the merit-based system that has characterised Bitcoin's evolution.