Recently, the new work (Money Electric: The Bitcoin Mystery) by the well-known documentary producer Cullen Hoback has sparked heated discussions in the currency circle because the film finally "revealed" the true identity of Bitcoin inventor Satoshi Nakamoto, who is former Bitcoin Core developer Peter Todd.
Satoshi Nakamoto is the pseudonymous founder of Bitcoin. His white paper published in 2008 and the launch of the Bitcoin network in 2009 marked the beginning of the digital currency era. Although people have speculated and studied the true identity of Satoshi Nakamoto for many years, no conclusive conclusion has been reached so far.
According to the summary, this documentary proves that Peter Todd is Satoshi Nakamoto for the following reasons:
In 2010, Peter Todd used a new account to respond to Satoshi Nakamoto's post on the Bitcointalk forum. The film claims that he mistakenly used his own account to respond to Satoshi Nakamoto's post.
Both accounts became inactive a few days later.
Peter Todd later implemented the Replace By Fee (RBF) concept discussed in that post.
The film claims that Peter Todd used the pseudonym John Dillon to promote RBF.
Both use British/Canadian spelling.
Satoshi's posting schedule is consistent with his schedule as a student, with more posts on weekends.
Peter Todd has discussed “sacrificing” Bitcoin, which could refer to destroying Satoshi’s Bitcoin.
In response to the documentary’s testimony, Peter Todd solemnly denied that he was not Satoshi Nakamoto: “I am not Satoshi Nakamoto. Cullen Hoback’s testimony is groundless, and I have become Cullen Hoback’s lifeline. He doesn’t know who Satoshi Nakamoto is, so he uses a conspiracy theory-like reasoning method and randomly points out a name. This is ridiculous.” In fact, Peter Todd once joked on the show (What Bitcoin Did) in the past: “I am Satoshi Nakamoto, and we are all Satoshi Nakamoto.”
Although Peter Todd is one of the early developers of Bitcoin, he has never been the top person on the list of Satoshi Nakamoto speculation. In the past, the media has tried to uncover the identity of Satoshi Nakamoto many times, but all ended in failure. In 2014, (Newsweek) mistakenly identified American physicist and system engineer Dorian Nakamoto as Satoshi Nakamoto, and in 2019, Australian computer scientist Craig Wright (Australian Satoshi) who claimed to be Satoshi Nakamoto was proven not to be the true founder of Bitcoin. Over the years, many people have continued to speculate who Satoshi Nakamoto is? But the answer has always been confusing.
In general, this new documentary still does not reveal the true identity of Satoshi Nakamoto, and it is more of a hype. Although people's curiosity will continue to exist, it may be a good thing that Satoshi Nakamoto's identity will never be revealed. After all, it seems that even if we know who Satoshi Nakamoto is, it will not be good for the future development of Bitcoin, and it is precisely because of Satoshi Nakamoto's retreat that Bitcoin has special characteristics.
1. Avoid concentration of power
If Satoshi Nakamoto's identity is revealed, it may lead to personal control or manipulation of Bitcoin. Satoshi Nakamoto's anonymity allows Bitcoin to avoid the influence of authoritative figures and ensure its decentralized nature. This decentralized design concept is the core of Bitcoin's success and can effectively prevent any single party from controlling the network.
2. Maintaining the neutrality of Bitcoin
Satoshi Nakamoto's identity remains anonymous, making Bitcoin unaffected by personal background, nationality or political stance. Bitcoin is seen as a global digital currency that can transcend cultural and national boundaries and become a common asset for users in different countries and regions. This neutrality allows Bitcoin to be more widely accepted without being seen as a product of a particular country or individual.
3. Reduce legal and regulatory risks
If Satoshi Nakamoto's identity is made public, he may face pressure and challenges from the government and regulators. Maintaining anonymity can protect Satoshi Nakamoto from legal adverse effects and make Bitcoin, an innovative financial tool, more flexible in the legal and regulatory environment.
4. Stimulate community participation
The mysterious identity of Satoshi Nakamoto has promoted the activity of the Bitcoin community, and users feel that they are part of this decentralized network. This collective consciousness has strengthened the cohesion of the community and promoted the further development and popularity of Bitcoin.
5. Increase the attractiveness of Bitcoin
The mystery of Satoshi Nakamoto’s identity has added a layer of mystery to Bitcoin, attracting more attention and discussion. This legendary nature has made Bitcoin not only a digital asset, but also a fascinating cultural phenomenon, inspiring countless people to explore and participate.
More realistically speaking, among the 22,000 addresses related to Satoshi Nakamoto, there are currently about 1.1 million bitcoins (about 69 billion US dollars). These assets are considered by the market to be permanently locked. If Satoshi Nakamoto really reappears, it may bring potential selling pressure.
In conclusion, although speculation and discussion about the identity of Satoshi Nakamoto will continue, we should not ignore the positive significance of keeping his identity mysterious. It is this mystery that allows Bitcoin to maintain its unique charm and appeal in the fiercely competitive financial market.
As technology advances and society evolves, Bitcoin, as a revolutionary digital currency, will continue to influence the future of economy and finance on a global scale. Regardless of the true identity of Satoshi Nakamoto, the Bitcoin he created will continue to lead the trend of digital currency.
