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  • Peter Todd forced underground after HBO documentary names him Bitcoin’s creator

    Peter Todd forced underground after HBO documentary names him Bitcoin’s creator

    • Peter Todd said he didn’t realize the HBO documentary was trying to unveil the identity of Bitcoin’s creator, but rather go into the history of the crypto asset
    • Cullen Hoback, director of the documentary, claims that Todd is blowing things out of proportion saying his life is in danger after being named Nakamoto

    Peter Todd, a Bitcoin core developer, has gone into hiding over fears for his safety after an HBO documentary named him Bitcoin’s creator, Satoshi Nakamoto.

    Aired earlier this month and directed by Cullen Hoback, the “Money Electric: The Bitcoin Mystery,” examined Bitcoin’s early days and some of its key figures, one of which was Todd. Another was Blockstream founder Adam Back.

    During the documentary’s finale, when confronted with a question from Hoback, Todd said: “Yeah, I’m Satoshi Nakamoto.”

    Ahead of the documentary’s release, Todd denied he was Satoshi. Following the documentary’s release, Todd took to social media again to deny he was Satoshi after someone called him out, writing, “I’m not Satoshi.”

    No one should help to find Satoshi

    In an interview with Wired, Todd indicated that he’s gone into hiding following the documentary over fears for his safety.

    Harassment Todd’s faced includes receiving 25 emails over two days for someone asking him to help repay a loan.

    In an email to the publication, Todd said:

    “Obviously, falsely claiming that ordinary people of ordinary wealth are extraordinarily rich exposes them to threats like robbery and kidnapping.”

    According to Todd, he didn’t realize the documentary was trying to uncover the mysterious creator of Bitcoin, but rather document the crypto asset’s history.

    Todd added: “Not only is the question dumb, it’s dangerous. Satoshi obviously didn’t want to be found, for good reasons, and no one should help people trying to find Satoshi.”

    In Hoback’s view, Todd is blowing things out of proportion and that nothing terrible has happened to other people who were believed to be Satoshi.

    According to Hoback, unveiling the identity of Satoshi is a matter of public interest and “pretty important” because that person is “potentially on track to become the wealthiest on Earth.”

    Hoback’s reasoning behind Todd being Bitcoin’s creator lies in a 2010 web forum post in which Todd responded to one of Satoshi’s posts. According to Hoback, Todd’s post is a continuation of Satoshi’s that was mistakenly sent from Todd’s account rather than Satoshi’s.

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  • Peter Todd denies he’s Satoshi Nakamoto after HBO documentary

    Peter Todd denies he’s Satoshi Nakamoto after HBO documentary

    Solv Protocol introduces Bitcoin staking on Base with cbBTC token
    • Film director, Cullen Hoback, points to Peter Todd as Bitcoin’s inventor
    • Hoback relies on a 2010 web forum post in which Todd responded to one of Satoshi’s post
    • Todd points out that he’s Satoshi “as is everyone else”

    HBO’s latest documentary has named Bitcoin core developer Peter Todd as Satoshi Nakamoto, the mysterious inventor behind Bitcoin.

    “Money Electric: The Bitcoin Mystery,” directed by Cullen Hoback, examines Bitcoin’s early days and some of its key figures. Using old and new clues, Hoback confronts Todd and Blockstream founder Adam Back with the evidence, according to a report from Politico.

    During the documentary’s finale when confronted with a question from Hoback, Todd said: “Yeah, I’m Satoshi Nakamoto.” This is far from being a confession, though, as Todd also said he was Craig Wright.

    Hoback’s reasoning behind Todd being Bitcoin’s creator lies in a 2010 web forum post in which Todd responded to one of Satoshi’s posts. According to Hoback, Todd’s post is a continuation of Satoshi’s that was mistakenly sent from Todd’s account rather than Satoshi’s.

    The film director cited another clue, in which Todd wrote in a blog post that he was “probably the world’s leading expert” on how to sacrifice Bitcoin, adding that he had “done one such sacrifice”. According to Hoback, this was an admission that Todd had sacrificed his ability to access Bitcoin.

    Not a confession

    Todd’s admission is by no means concrete proof that the Canadian developer is the cryptocurrency’s inventor.

    Todd is well known for saying the phrase “I am Satoshi,” In fact, during a 2019 interview in “What Bitcoin Did,” with podcast host Peter McCormack, Todd said, “I am Satoshi, as is everyone else.”

    Ahead of the documentary’s release, Todd denied he was Satoshi after it was leaked online. Following its release, Todd took to social media again to deny he was Satoshi after someone called him out, writing, “I’m not Satoshi.”

    During the documentary, Todd said to Hoback after he presented his theory: “This is going to be very funny when you put this into the documentary and a bunch of bitcoiners watch it.”

    Jameson Lopp, co-founder of Bitcoin company Casa, wrote on X that “wherever Satoshi may be, I like to think they’re having a laugh at this latest round of foolishness.”

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  • Peter Schiff is wrong about Bitcoin

    Peter Schiff is wrong about Bitcoin

    Peter Schiff, the Chief Market Strategist at Euro Pacific Asset Management, is one of the most respected people in finance. He has been right on so many things in the past, including the pace of interest rates, US government debt, and the ongoing risks in the market. I share most of his concerns.

    One area I disagree with Schiff is on his Bitcoin outlook. For a long time, Schiff has advocated against Bitcoin, which he believes that has no value. Instead, Schiff, who also runs a gold company called Schiff Gold, has advocated for gold.

    Gold has done well over years. It has moved from $35 in 1970s to almost $2,000 today and he expects it to continue soaring over the years. He cites the soaring government debt and the rising accumulation by central banks like those in Russia, Turkey, and Chiba.

    While gold is a good asset, the reality is that it has not been a good investment in the past decade. Gold has jumped by almost 220% since November 2006 while the S&P 500 index has jumped by almost 400%. Including dividends, the index has done much better.

    Bitcoin has also done better than gold by far. While BTC has dropped sharply from its all-time high, it has still beaten gold in the past few years. Bitcoin has risen by almost 400% in the past 5 years while gold is up by just 63%.

    Peter Schiff argues that Bitcoin has no real value and that it is only bought by speculators. This is wrong. While there are many speculators in the crypto space, the reality is that many large investors have held it for years. MicroStrategy has held Bitcoin for three years now while the average holding period was over 3 years.

    It is also worth noting that gold has no real use in the industrial space. Instead, many buyers do so because it is a store of value. This explains why gold is mostly bought by investors and central banks.

    Events of the past few years are a good proof that Bitcoin is a real asset. For one, the coin survived the Mt. Gox collapse, the Covid-19 pandemic, and the current phase of stagflation. It is also surviving when interest rates have jumped to the highest level in 22 years. 

    All this means that Bitcoin has real value, which explains why companies like Blackrock and Invesco are seeking to launch an ETF. In a statement this week, Blackrock’s CEO noted that the company was seeing strong demand from international investors.

    How to buy Bitcoin

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

    Public

    Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.

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  • legendary investor Peter Lynch takes a side

    legendary investor Peter Lynch takes a side

    peter lynch picks stocks over crypto
    • Peter Lynch reveals that he does not own any cryptocurrency.
    • He’s sticking to his ‘buy what you know’ investment strategy.
    • Lynch regrets not investing in Apple and Nvidia in recent years.

    Bitcoin has massively outperformed equities since the start of this year but legendary investor Peter Lynch continues to prefer the latter.

    Lynch does not own any cryptocurrency

    On Tuesday, the Vice Chairman of Fidelity Management & Research confirmed that he’s not exposed to cryptocurrencies.

    Interestingly, Lynch is familiar with the technology that powers the crypto space. Still, he said today on CNBC’s “Squawk Box”:

    I do understand blockchain. I know how it works. But what bitcoin is going to be, I have no idea. I don’t own any bitcoin or ether coin.

    Lynch is keeping away from BTC even though he knows the total supply of it will be cut in half next year – an event that usually translates to higher price.

    Lynch is sticking to ‘buy what you know’

    Bitcoin has now slipped back to the $27,000 level but is still keeping above a key support suggesting the bullish sentiment is still there.

    But for years, Fidelity’s Peter Lynch has recommended that investors “buy what they know” – and to him, that means stocks. Explaining how to pick stocks and when to pull out of them, he said:

    Look at the company, the balance sheet. What’s the reason stock should be higher? When companies go from crappy to semi-crappy to good, stock goes up. When business gets terrific, get out.

    Lynch expressed regret today for not investing in a number of large-cap tech companies in recent years, particularly Apple Inc and Nvidia Corporation.

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