Bitcoin creator Satoshi Nakamoto intended to disrupt the traditional financial system that was heavily siloed and left the network under users’ custody.
The attempt to reveal the real identity of Bitcoin BTC $94 497 24h volatility: 0.5% Market cap: $1.88 T Vol. 24h: $23.84 B creator alias Satoshi Nakamoto by Home Box Office (HBO), an American pay television network, has failed terribly. According to an HBO documentary series dubbed Money Electric: The Bitcoin Mystery, legendary Bitcoin core developer Peter Todd is the original creator of the flagship coin.
The HBO documentary suggests that Todd, while in his 20s, developed the Bitcoin network and used the pseudonym Satoshi Nakamoto for people to take it seriously. According to Cullen Hoback, the HBO filmmaker who attempted to dox the Bitcoin creator, Todd accidentally made a conversation in the Satoshi era with his account, which reveals the underlying privacy.
Hoback also highlighted that John Dillon, an anonymous BitcoinTalk contributor, was also created by Todd so that he could then release Replace-by-Fee (RBF), which was later introduced in 2014.
Interestingly, Hoback suggested Todd did destroy access to Satoshi’s 1 million Bitcoin stash, which has never moved to date.
However, Todd has vehemently denied HBO’s allegations that he is the original creator of Bitcoin. Nonetheless, Todd remains a major Bitcoin contributor to date amid the mainstream adoption of digital assets and web3 platforms around the world.
I'm not Satoshi.
— Peter Todd (@peterktodd) October 8, 2024
Who Is Satoshi Nakamoto?
For more than 15 years, the identity of the original Bitcoin creator has remained unknown despite notable speculation. Some of the major personalities, who were involved with the Bitcoin development in the early stages, have since passed away, while others remain active.
Interestingly, data from Polymarket, a decentralized prediction market platform, reveals none of the users had made a bet on Todd.
Most Polymarket users had made a bet on Adam Back, Hal Finney, Len Sassaman, Nick Szabo, and Paul Le Roux.
As a result, all the Polymarket speculators on the HBO documentary were rekt, leading to the loss of millions of dollars.
According to Ki Young Ju, the founder and CEO of Cryptoquant, people should not focus on identifying the real creator of Bitcoin as they will be missing the bigger picture. With Satoshi’s BTC stash unmoved to date, Young highlighted that the Bitcoin network remains robust, backed by trust from millions of global investors.
Market Picture
The release of the HBO documentary on Bitcoin creator did not have a major impact on the underlying price action. According to the latest market data, Bitcoin price hovered around $62.2K in the past 24 hours, amid a notable spike in traded volume.
According to data analysis provided by Santiment, a major spike in dormant activity on Bitcoin’s network was recorded on Tuesday, which coincided with $37.4B in on-chain volume, the highest in 7 months.
Ahead of the FOMC meeting minutes later today, BTC price could retest the support level around $61.5K before rebounding towards its all-time high soon.
It’s also worth mentioning that HBO is owned by Warner Bros. Discovery Inc. 165 million shares of Warner Bros. belong to BlackRock, which is one of the major institutional Bitcoin holders in the world.
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