Sat 12 October 2024 ▪
4
min reading ▪ acc
The identity of Satoshi Nakamoto continues to fascinate the world. This mysterious creator of Bitcoin, who was at the birth of a real revolution in the field of cryptocurrencies, is still little known. Despite years of speculation, no one has ever been able to solve the mystery. Currently an HBO documentary Money Electric: The Bitcoin Mystery rekindled the debate by claiming that Peter Todd, a Canadian developer well known in the community, would be the man behind Satoshi Nakamoto. The statement quickly sparked debate and drew strong reactions, particularly from Adam Back, who disagreed with the theory.
Eccentric founder theory undermined
During the interview, Adam Back, the founder of Blockstream, shared his opinion on the identity of the creator of Bitcoin, especially in response to the speculation presented in the HBO documentary “Money Electric: The Bitcoin Mystery”. Contrary to claims linking Peter Todd to Satoshi Nakamoto, Back is categorical. “I’m pretty sure it’s nobody we’re talking about,” he explains. According to him, the technical skills required to create the Bitcoin protocol exceed those of the people highlighted in the document. In addition, Back insists that these discussions should not focus on a specific individual, but rather on the values carried by the technology itself.
Adam Back also emphasizes another crucial aspect: it is important for Bitcoin not to have a charismatic or controversial figure. Unlike some tech companies run by eccentric leaders, “the fact that there is no public founder makes Bitcoin more robust, less vulnerable to controversy or human error,” says Back. For him, this decentralized structure allows Bitcoin to position itself not as a creation, but as a fundamental technological breakthrough, a universal commodity.
The Flaws of Todd’s Theory
In addition to general criticism of the idea of an eccentric founder, Adam Back specifically questioned HBO’s finding that Peter Todd was Satoshi Nakamoto. The paper’s argument is based on an interaction on the BitcoinTalk forums in 2010 where a message from Todd was allegedly confused with a message from Satoshi. Todd, who entered the Bitcoin space long after 2008, was quick to debunk this theory. He calls it a mistake based on a misinterpretation of events. Back supports this contention and underlines the chronology of facts: “Peter Todd was still a student at the time, he joined the development of Bitcoin only in 2014,” he recalls.
The implications of such claims go beyond simple debate among experts. For Adam Back, allowing unsubstantiated theories to spread could tarnish Bitcoin’s image among the general public, especially at a time when the technology is experiencing increasing adoption. “It is imperative that those who truly understand the mission of Bitcoin speak up to avoid mis-narratives,” he said. If documentaries like HBO become the gold standard for bitcoin’s history, it could sow confusion, but also fuel misguided narratives about what the asset really is and what it means for the future of the global financier.
Adam Back’s intervention on the HBO documentary sheds more light on an often-overlooked reality: the absence of a central figure in the Bitcoin ecosystem is not a flaw, but an asset.
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A graduate of Sciences Po Toulouse and holder of the blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I made a commitment to raise awareness and inform the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and take advantage of the opportunities it offers. I strive every day to provide an objective analysis of current events, decipher market trends, convey the latest technological innovations, and put into perspective the economic and social issues of this ongoing revolution.
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The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.