TL; DR Breakdown
- The Bitcoin logo and the currency go back 13 years since Satoshi Nakamoto published its original whitepaper on 31 October 2008.
- Its logo also reveals a story behind its functionality and inspirations, not to mention its vision and successes in the market.
31 October 2008 marked the day that the world saw the original whitepaper of the Bitcoin project, and around the same time, the Bitcoin logo was introduced. This day also revealed blockchain technology to the world, bringing to light the first and top cryptocurrency in the market today. From the negligible value, it had back then to where it is now is a clear indication of the progress the crypto world is experiencing.
All the same, not many know the story behind how its logo came into existence. Moreover, many confuse the day of the Bitcoin whitepaper release with when the Bitcoin logo was introduced to its enthusiasts. The first Bitcoin logo came into being in 2008, but the timeline is still unknown. The logo has changed twice since then to the current logo trending in the market.
While the crypto community can owe the first and second logo to Satoshi Nakamoto, the third (and the current Bitcoin logo) was by Bitboy. The first logo had BC initials at the middle, while the rest had a B sign. Bitcoin’s logo right now has a slanting B in white while surrounded by a yellow background. Nonetheless, what does this mean?
Bitcoin logo meaning
The noticeable component of the first Bitcoin logo was the gold color on the background. It portrayed Satoshi’s belief in Bitcoin as the digital gold.
The coin has managed usability, security, and payment options with the current progress and proves this belief right as an investment. Furthermore, it gives gold a huge competitor as a store of value, considering its price surges over the past year.
On 24 February 2010, Satoshi unveiled the new logo design that entailed a gold background and a B imbued with the dollar sign. Phil Wilson was an enthusiast involved in coming up with the design. A point to note is that the Bitcoin logo contains mathematical algorithms that may indicate the very essence of its functionality.
Later, Bitboy came into the picture to help with the current logo, widely known to both crypto enthusiasts and their traditional finance counterparts. According to Phil, Bitboy massacred the design in 2010, resulting in the golden B sign. However, Bitboy’s design, inspired by Mastercard, caught the trend, taking the place of the 2010 BTC logo.
The concept behind the Bitcoin logo includes putting out a versatile logo, being in synchrony with many states. The design strived to be simple while maintaining its relevance in telling the BTC story. It also stands as a unique symbolism up to date that commands attention from the financial community.
The orange background was a bold choice that spews its dominance to the global economy. The circle surrounding the concept signifies a never-ending cycle that the coin will have in the markets.
Furthermore, it indicates its vision in creating convenience in sending funds globally without limits. A point worth looking into is that the logo does not have copyright, allowing anyone to use it.
All the same, it is undeniable that Bitcoin opened doors to what stands as a profitable investment opportunity for many.
It introduced decentralization, instant remittances at low costs, high network security, development of blockchain technology, and most importantly, privacy and anonymity.
Ongoing developments on the network will expand its usability and help it maintain dominance in the digital and traditional finance space.