Story of Bitcoin Logo
A titled ₿ with two strokes, which stands for Bitcoin is a widely recognizable sign today. BTCMEX discovers the story of its creation.
The original Bitcoin logo had two letters – BC. It was designed by Satoshi Nakamoto shortly after the software launch. Track the first steps of Bitcoin with the BTCMEX Blog. A simple BC on a gold coin was displayed at the top of Bitcoin client window.
The cryptocurrency community started talking about replacing it and completing it with the Unicode character. The fact that a logo looked like a gold coin was confusing, as some might have thought, the value of the cryptocurrency derived from gold.
Discussions on alternating the design started. “NewLibertyStandard” – a member of Bitcointalk forum – proposed to use letter B with a single vertical stroke – Thai baht symbol. On February 5, 2010, he published:
“I propose that we adopt the Thai baht currency symbol, ฿, as the official bitcoin currency symbol and BTC as the official bitcoin three letter currency code”.
Others pointed out their wish to get closer to the Costa Rican colón symbol showing a C with the two strokes. There were also advocates for merely adding a T to the emblem. The BTC remains a ticker symbol for the cryptocurrency today. A year later, Satoshi updated the logo. It seemed to combine the proposed ฿ and ₡ into the ₿ we see today.
The gold coin remained in the logo until “Bitboy” released a message:
“Hi guys, just drop by to say hi and to share with you some of the graphics I have done. Hope you will find them useful.”
He shared the newly designed Bitcoin logo, with the ₿ rendered in its now trademark white and orange, complete with “Rotation: Clockwise 14%”.
The reaction was mixed. Some spoke up about its resemblance to the Mastercard Logo. “Bitboy” replied:
“That’s the inspiration. The irony is as much as I hate [Mastercard] and [Visa]; it is all about perception when it comes to consumer confidence and behavior. Lol”
The logo did become recognizable as a symbol for Bitcoin cryptocurrency. Later, in 2004, a group of activists complained that because of its decentralized nature Bitcoin shouldn’t have a logo at all. Some suggested using the Ƀ, a letter in multiple alphabets, but all the later ideas were not widely adopted.
The Bitcoin logo was designed collaboratively, which perfectly represents the ideas in its core and the nature of cryptocurrency itself.