Today we will look at some of the circumstances that led to the emergence of distinctive character and now all so familiar logo of Bitcoin. If you believe the information on the Internet, the original Bitcoin logo represented one of the few non-technical aspects of coins.
From Baht to Bitcoins
Ten years ago when Satoshi published withpaper and after a couple of months has mined the Genesis block of Bitcoin, the coin in front was still a very long way. There were no wallets nor the reviewers of blocks or exchanges. Actually, even then it was not declared rate. It was not Bitcoin and its symbol.
The first attempt to create the logo was made by Satoshi. He was trying to create an emblem for the first Bitcoin client. On it was depicted a Golden coin with the letters BC. However, by early 2010, around when it started to form a small community, raised the issue of changing the image. It was proposed to use a Unicode character, which would have represented the cryptocurrency.
5 Feb 2010 on the Bitcointalk forum user under the name NewLibertyStandard wrote the following message:
“I propose to use the Thai baht symbol ฿, as the official logo of Bitcoin. The three-letter currency code you can do BTC.”
It is worth noting that this user was the first to purchase bitcoins for four months, paying 5.02 USD per 5050 BTC. His proposal provoked intense discussion in which users were worried about possible confusion with the symbol for the Thai currency.
New logo as a new stage of development of Bitcoin
1 Nov 2010 the user forum under the nickname bitboy shared his time between the new logo, in which the coin was flat and orange, and the currency sign was rotated to 14 degrees.
Bitcoins have no Central authority. Despite the fact that even if Satoshi was actively involved in the community in the face of de facto commander, users could not come to a consensus regarding the official logo. However, a survey in mid-2011 demonstrated a significant advantage in favor of the symbol ฿, who was ahead of different variants like β, Ƃ and Ƀ. Only a few years later, in June 2017, Bitcoin finally get its own unique Unicode symbol and finally secured in the form ₿.
Interestingly, the word “Bitcoin is never mentioned in wallpapere Satoshi. It can only be found in the domain at the end of the document.