Who Created Bitcoin? A New Documentary Claims to Have Solved the 'Greatest Question of the Internet Age'

What is Bitcoin? It’s a question many have been asking since cryptocurrency became part of the lexicon some 15 years ago. But for those already in the know, the burning question was this: Who is the person responsible for causing the global economy to crash?

New HBO documentary Money Electric: The Bitcoin Mysterydirected by Cullen Hoback (Q: Into the storm) claims to have discovered the identity of the elusive figure hitherto known by the pseudonym “Satoshi Nakamoto.”

Cullen Hoback.

Courtesy of HBO

The documentary, which premiered on October 8, explains, for beginners, what cryptocurrency is and goes through its long, controversial history. “Who cares about Bitcoin?” Jamie Dimon, CEO of JPMorgan Chase, wonders rhetorically in an old clip at the beginning of the document as the value of one bitcoin for 2010 flashes on the screen.

Spoiler alert: it’s 23 cents.

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A group of people, including Donald Trump, are heard and seen characterizing Bitcoin as a “fraud” as we see its value rise on screen for years to come. A decade and a half after its launch, the documentary claims, “Bitcoin has become the 10th most valuable asset in the world.”

But the trillion dollar question still remains: Who created it?

Adam Back.

Courtesy of HBO

Satoshi Nakamoto, who may be worth more than a trillion dollars, is said to be the genius behind the decentralized, libertarian dream currency — but no one by that name actually exists. And, as the documentary goes on to explain, Nakamoto disappeared years ago, leading to “the greatest mystery of the Internet age” — Generation’s version of “Who Killed Jimmy Hoffa?” and “What happened to DB Cooper”?

Nakamoto created Bitcoin in 2008 and then seemed to disappear in late 2010 or early 2011, before the cryptocurrency really took off.

Cullen travels the world and talks to various experts and insiders, including Blockstream CEO Adam Back, early Bitcoin developer Peter Todd, and “Bitcoin Jesus” Roger Ver, to get to the bottom of why Satoshi disappeared and, more importantly, who they are. Are they still alive? Did they ever even exist?

Roger Ver.

Courtesy of HBO

Australian businessman Craig Wright claimed Nakamoto at one point, which effectively ruled him out and eventually landed him in the crosshairs of the UK High Court.

The documentary throws out several other names – Blockstream co-founder Gregory Maxwell, computer scientist Nick Szabo, researcher and investor Wei Dei and the late Bitcoin pioneer Hal Finney – before settling on one man: Peter Todd.

Peter Todd.

Courtesy of HBO

Todd, a young Canadian who was still a student in Bitcoin’s early days, says he didn’t get involved with Bitcoin until 2014. But Cullen uncovers evidence Todd posted on a Bitcoin forum back in 2010, finishing one of Nakamoto’s thoughts before disappearing from the platform for two days before Nakamoto disappeared from the forum.

Todd starts to chuckle when Cullen tells him his suspicion. “I’ll admit, you’re pretty creative,” he says. “You’re coming up with some crazy theories. It’s ridiculous, but it’s the kind of theory that someone who spends his time as a documentary journalist would come up with.”

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He goes on to call Cullen’s theory “just another example of journalists really missing the point in a way that’s very funny.”

“What’s the point?” Cullen asks.

“The point is for Bitcoin to become a global currency,” Todd replies, still laughing, “and for people like you to be distracted by nonsense.”

That may be amusing to Todd, but it’s not exactly denial.

Money Electric: The Bitcoin Mystery now streaming on Max.

Categories: Trends
Source: HIS Education