Money Electric: The Bitcoin Mystery (2024) Timeline Explained – Every Event in Order

Bitcoin's Cypherpunk Roots

The documentary traces Bitcoin's origins back to the cypherpunk movement, a community of cryptographers and privacy activists. Hoback explores how the currency emerged from this ideological foundation centered on decentralization and financial freedom. This origin story sets the stage for examining what Bitcoin was meant to be versus what it eventually became.

Back Named in the Bitcoin White Paper

The film notes that Adam Back is named in the body of the Bitcoin white paper, placing him in close proximity to the currency's creation. Hoback also observes that Back and Nakamoto share a similar writing style. These details form early pillars of the case treating Back as a serious candidate for Satoshi Nakamoto's identity.

When

2008

Todd's Curious Forum Debut

Days after initially joining the Bitcoin forum in 2010, Peter Todd corrects Satoshi Nakamoto on a technicality in one of Satoshi's last posts. Remarkably, Todd makes this correction just one hour after the initial post was made. Shortly after this exchange, Todd disappears online alongside Satoshi, a coincidence the film finds highly suggestive.

When

2010

Todd Claims Two Years of Non-Involvement

Peter Todd claims he had no involvement in Bitcoin development until two years after his early forum activity. Hoback raises questions about whether his interaction with Satoshi suggests deeper involvement much earlier than admitted. The film also points to Todd's alleged history of using an alternate persona to create the 'Replace by Fee' patch, indicating a possible modus operandi.

When

c. 2012

Back Surfaces on Bitcointalk

Adam Back appears on the Bitcointalk forum on April 17, 2013, the same day the size of Nakamoto's holdings first became public. The documentary highlights this timing as a striking piece of circumstantial evidence. The film presents it as one of several data points pointing in Back's direction.

When

April 17, 2013

Back Relocates to Malta

The documentary highlights Adam Back's move to Malta as part of the circumstantial evidence assembled around him. Hoback notes in voice-over that the evidence pointing in Adam's direction was a lot harder to poke holes in. The relocation adds to the film's portrait of Back as a leading Satoshi candidate.

Where

Malta

Suspicious Wikipedia Edits

The film points to Back's edits to Wikipedia's Bitcoin article, which restored the article's Satoshi Nakamoto section. Notably, those edits listed other suspects in the identity mystery but omitted Back himself. This selective editing is presented as another intriguing thread in the investigation.

Blockstream Is Co-Founded

Adam Back co-founded Blockstream in 2014, alongside Gregory Maxwell. The film characterizes the company as a possible 'corporate Satoshi,' suggesting a collective continuation of the creator's role. The documentary draws connections between Todd's alignment with Back and Maxwell through the company.

When

2014

The Alleged Satoshi Email and the Block Size War

Hoback's theory connects an alleged 2014 email sent from Satoshi's address to Blockstream's position in the so-called block size war. This link suggests the creator's identity may be intertwined with the company's role in Bitcoin's governance battles. The block size war itself serves as critical context for the film's investigation.

When

2014

Bitcoin Clashes with the US Government

Hoback charts Bitcoin's battle with the US government as the currency's adoption spreads worldwide. The film documents the regulatory and political friction that accompanied Bitcoin's growth. This struggle becomes a central thread in the story of the currency's maturation.

Where

United States

From Fringe Experiment to 401(k)s

The documentary charts Bitcoin's evolution from its cypherpunk roots to its incorporation into 401(k)s. What began as an underground experiment has become an integral part of the global financial system. Hoback questions how the modern currency measures up to its original founding principles.

Hoback Interviews Bitcoin's Key Figures

Director Cullen Hoback interviews prominent industry figures including Adam Back, Roger Ver, Peter Todd, Samson Mow, and Amir Taaki. These conversations form the backbone of the documentary's investigation into Bitcoin's history. Each interviewee offers perspective on the currency's origins and the question of Satoshi's identity.

The Peter Todd Theory Emerges

The documentary proposes a theory that Bitcoin developer Peter Todd may be Satoshi Nakamoto, and that both Todd and Adam Back were involved in Bitcoin's creation. Hoback builds the case on circumstantial evidence including Todd's early forum activity and his pattern of using alternate personas. The theory forms the central mystery the film pursues.

Todd Calls the Theory 'Ludicrous'

When confronted with the theory on camera, Peter Todd never outright denies the claim that he is Satoshi Nakamoto. Instead, he dismisses the theory as 'ludicrous,' a response the film frames as notably evasive. His reaction becomes one of the documentary's most talked-about moments.

Back Refuses to Deny on the Record

After Hoback lists him among the suspects, Adam Back replies, 'I thought you might think I'm Satoshi. And I don't want that to be on the record, really.' The film notes that the evidence pointing in Adam's direction was considerably harder to poke holes in than for other candidates. His reluctance to deny the theory on record leaves the mystery of Satoshi's identity lingering.