Crypto News: Uncovering the Hidden Bitcoin Whitepaper on a Mac OS
Satoshi Nakamoto’s Bitcoin whitepaper was found accidentally in Mac OS by Andy Baio, a technologist, and blogger while he was trying to fix his printer. He posted a blog on April 5 through Waxy to spread his discovery.
The whitepaper can be found on all the latest versions of MacOS from Mojave (10.14.0) to Ventura (13.3) but was not available on earlier versions.
To check on your Mac, type the following command on a Terminal
open /System/Library/Image\
Capture/Devices/VirtualScanner.app/Contents/Resources/simpledoc.pdf
On Virtual Scanner II, one can view the whitepaper on the image capture utility which is hidden/uninstalled by default. In Image Capture, select the “Virtual Scanner II” device, go to Details, and set the Media to “Document” and Media DPI to “72 DPI”. Then you can see the preview of the first page of the Bitcoin paper with a file name simpledoc.pdf of 184 KB.
The reason for the inclusion of the Virtual Scanner II and Bitcoin whitepaper in MacOS was still unknown and Apple has not commented on it yet. Maybe they have been used for testing purposes and are not meant for the end users. That could be one possible reason behind the hide.
What is a Whitepaper? And Why is Bitcoin Whitepaper for?
A whitepaper is a document that provides comprehensive information about a product or service. It includes technical details and the purpose of the project.
Bitcoin, the pioneer digital cryptocurrency is a peer-to-peer decentralized currency used to perform payments based on Blockchain technology, released in 2008. As it is a new concept then, the whitepaper has included every detail regarding Bitcoin and how it works, and how it can revolutionize the payment industry.
The whitepaper also mentions the drawbacks of current electronic systems and how Bitocin will fill the gap and create a better experience for users without the help of any intermediaries.
Many cryptocurrencies that followed Bitcoin, took reference from the Bitcoin Whitepaper and paved the way to create their whitepapers and projects.
The white paper is called Bitcoin: “A Peer-to-Peer Electronic Cash System”. The content that is included in the Bitcoin Whitepaper are:
- Nakamoto first described the weakness of electronic payments including the non-reversible payments for financial institutions, frauds, etc.
- Customers need to provide their personal details to the financial institutions wherein for Bitcoin transactions, users can send peer-to-peer money anonymously.
- Described the double-spend problem with the banking industry whereas Bitcoin uses hash functions to verify transactions in a block.
- Bitcoin uses the Proof-of-Work mechanism to ensure that transactions are accurate. Miners compete with others to complete a block with a unique number called a nonce where transaction details are distributed to every node in the network.
- Bitcoin whitepaper contains the number of tokens and how it is distributed
- It includes the details of the investors and developers along with their experience in the field.
Ethereum whitepaper was published in 2014 by Vitalik Buterin explaining how Ethereum will change the world by building a platform that helps developers to build and deploy decentralized apps (Dapps) through smart contracts and users can participate in various activities and play games through the Ethereum ecosystem.
Why is Whitepaper considered to be important in Crypto Industry?
A whitepaper is considered to be a significant element in the cryptocurrency industry. When a new project is launching a new currency as an Initial Coin Offering (ICO), they need funding and investors. To attract them, companies write whitepapers including each detail which builds trust.
A whitepaper is used to create public awareness and to motivate investors to fund their projects. It also explains how cryptocurrency works in the digital world.
A whitepaper may include:
- Legalities of a project, its CEO.
- The purpose of the cryptocurrency and what problem it solves.
- Outline of the solution to the problem.
- Team members and their experience in the crypto field.
- Development roadmap- The phase of their future crypto journey.
- Funding options, and rewards for investors.
- In Depth detailing of Tokenomics and how it works.
- Project’s Mission and Vision.
A whitepaper serves as a marketing tool and guide for a cryptocurrency project which provides transparency and builds trust. The company should have a well-designed and dedicated website to showcase its project whitepaper to create faith in the minds of the public and persuade people to invest.
The whitepaper is the first place an investor or a user needs to go to have a proper understanding of the project if they are interested in investing in it or if they want to know more about the project in detail.
The cryptocurrency whitepaper is a comprehensive document that outlines the goals and vision of a proposed crypto project. It provides readers with an overall understanding of the project’s purpose, how it works, and what benefits it can offer users in comparison to existing solutions. This document is essential for any organization or individual looking to launch a new cryptocurrency as it serves as the foundation for determining success.
