Peter Todd Didn't Sign Up for This: The HBO Satoshi Swindle and Why Devs Can't Win with Journalists

Bitcoin developer Peter Todd is not having a great time. After the New York Times published another investigation suggesting Adam Back might be the real Satoshi Nakamoto, Todd stepped up to defend his colleague—and let everyone know exactly how he feels about modern journalism.

The timing is rich, given Todd's recent experience with HBO's 2024 documentary "Money Electric: The Bitcoin Mystery," where he was cast as Bitcoin's mysterious creator. According to Todd, he was brought in to discuss the history of Bitcoin technology. Nobody mentioned the film would be a quest to identify Satoshi.

Classic bait-and-switch. Todd called it "parasitism" on social media, arguing this kind of journalism undermines industry integrity.

His full thoughts on X:

"1) I wasn't told they were making it about finding Satoshi. 2) Someone has to talk to journalists. Failing to do so has even worse outcomes."

Todd isn't just annoyed. He's worried. Attributing Satoshi's mythical billions to real developers makes them targets—for criminals, for stalkers, for anyone who thinks "I want what he has." The resulting physical security threats create a hostile environment for those actually building Bitcoin's future.

So why do Todd, Back, and other crypto figures keep talking to reporters? Todd's answer: "choosing the lesser of two evils." If experts go silent, journalists will produce even more absurd conspiracy theories with zero fact-checking pushback.

It's a lose-lose situation. Talk to the press and risk being cast as Satoshi. Stay quiet and let the nonsense run wild. Some choice.