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Money Electric: The Bitcoin Mystery – A Documentary Review
★★★★☆ | Cullen Hoback’s documentary, “Money Electric: The Bitcoin Mystery,” is an engaging watch, employing crime drama tactics to keep the suspect hidden until the end.
Unveiling Satoshi Nakamoto
“Money Electric: The Bitcoin Mystery” created significant buzz when HBO released its trailer, promising to reveal the identity of Satoshi Nakamoto. Directed by Cullen Hoback, the film delves into Bitcoin’s enigmatic origin, driven by Hoback’s seven-year interest in BTC and concerns about digital surveillance.
At 100 minutes, the documentary balances the needs of two distinct audiences. For beginners, it offers detailed graphics explaining how blockchains work and a concise overview of Bitcoin’s 15-year history. Cleverly, it uses archive footage from TV shows and movies to illustrate concepts, like using a scene from “Willy Wonka and the Chocolate Factory” to explain BTC mining.
The Real Aim: Identifying the Founder
The primary goal of this documentary is not to explain how Bitcoin operates but to identify its pseudonymous founder, Satoshi Nakamoto. Hoback emphasizes the urgency of this quest, citing Satoshi’s stash of one million BTC and the potential market panic if these coins are suddenly spent, especially as crypto integrates with traditional finance.
The Suspects
“Money Electric” adopts a “whodunnit” style, featuring interviews with notable industry figures. JAN3 CEO Samson Mow is depicted as a “Bitcoin ambassador,” traveling globally to promote BTC adoption. Mow criticizes fiat currency, describing it as “a house of cards built on a house of cards.”
Next, Hoback explores Blockstream co-founder Adam Back, whom Mow considers a mentor. Back is portrayed as a significant figure who might have been the first person Satoshi contacted about Bitcoin. The documentary dives into Back’s history, including his move to Malta and his British background, which aligns with Satoshi’s use of UK spelling and references to the London Times.
Unmasking the ‘Culprit’
In a dramatic twist, Hoback spends time with Peter Todd, a controversial figure in the Bitcoin community. Todd, who learned to code at a young age, jokingly claims to be Satoshi. However, Hoback presents compelling evidence, including Todd’s emails with “John Dillon,” who claimed to hold a high position in intelligence.
The documentary’s climax features Hoback confronting Todd and Back with his findings. A key moment shows Todd finishing one of Satoshi’s sentences on the BitcoinTalk forum shortly after joining, suggesting a possible profile mix-up. Todd laughs off Hoback’s theory, but the filmmaker remains convinced Todd may be Satoshi Nakamoto.
A Definitive Answer?
“Money Electric: The Bitcoin Mystery” is a well-produced documentary with an unexpected conclusion. Despite this, Todd maintains that “hundreds, even thousands” could have created Bitcoin. The documentary acknowledges Bitcoin’s complexities and challenges, offering a balanced view of its pros and cons.
Although Hoback’s conclusions are intriguing, the documentary does not provide a definitive answer to Satoshi’s identity. The crypto community continues to debate and poke holes in the narrative. For now, the mystery of Satoshi Nakamoto remains unsolved, but Todd’s early quote in the film offers a prescient warning: “It’s unlikely it’ll collapse on our heads, but one day it will.”
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