While Satoshi Nakamoto is credited with being the anonymous creator of Bitcoin, the altruistic efforts of the community’s other stakeholders, including investors, holders, developers, and designers do not often get the limelight. One such important contribution, though, was discovered to have a flaw that was imperceptible to the naked eye for over 12 years.
When zoomed in, the Bitcoin logo shows a little orange line from the backdrop entering the white-coloured “₿”.
A Brief History of Bitcoin and its Logo
A person or group of people using the alias Satoshi Nakamoto created Bitcoin in 2009. This alias first appeared in the original 2008 Bitcoin white paper, which described the blockchain technology that would support the whole cryptocurrency market.
Soon after the launch of Bitcoin in early 2009, the initial version of Nakamoto’s logo appeared online. This included a gold coin with the letters “BC” inscribed on it. The logo was in adherence to the skeuomorphism design principle, which calls for digital objects to closely resemble their analogous real counterparts.
In 2010, with the launch of the Bitcoin Talk Forum, it seemed the rapidly growing community had a lot to say about the Bitcoin logo’s design. After considering the community’s design recommendations, Satoshi unveiled a redesigned Bitcoin logo on February 24, 2010.
Nakamoto eliminated the initials “BC” for this second logo version and drew inspiration from the dollar sign. The stylized “B” was engraved in the centre of the golden coin, which he retained. In contrast to the dollar sign, this symbol was given two strokes. And unlike the dollar sign, the strokes never crossed it; they came out from the top and bottom.
The response from the community was not very forthcoming though. Many claimed that this version lacked professional finesse, and the logo did not last long.
It was in November 2010 that a third iteration appeared, one that has stayed on till now. Bitboy, a member of the bitcointalk.org community, provided the vector files of the recognizable Bitcoin logo on November 12, 2010, and it has since gained international recognition. Bitboy improved the Bitcoin logo design by using the MasterCard logo as a model. Nakamoto’s “B” was retained by Bitboy, but it was drawn in white, positioned on a flat, vivid orange circle, and tilted to the right (13.88 degrees clockwise).
Over the following ten years, Bitboy’s iteration would replace the existing Bitcoin logo due to overwhelming community support. This is the official Bitcoin logo and is freely reusable for both business and non-commercial goals due to an open license by Bitboy.
An Iconic Glitch: The Bitcoin Logo Fault Goes Sensational
It wasn’t until recently that a post on social media pointed out that Bitcoin’s iconic logo has a glitch that went unnoticed for more than a decade. The post came from the crypto Twitter account @_Bosch_, who first revealed the information to the public and then uploaded a revised Bitcoin logo with the mark removed and artistic proportions improved.
— Doc (@_Bosch_) February 9, 2023
Community Reaction and Impact on the Currency
The community has not expressed any concerns about the discovery since the logo has absolutely nothing to do with how Bitcoin functions. Even if new vectors were developed after the problems were fixed, they would not be widely adopted until the community decided otherwise.
The Bitcoin logo has been hitting the headlines even before this post caught the people’s eye. It was recently the talk of town in Berlin, where the iconic Berliner Fernsehturm Tower was illuminated with an image of the Bitcoin logo for an advertisement campaign.
— Documenting ₿itcoin 📄 (@DocumentingBTC) January 21, 2023
The idea behind the campaign, according to Twitter user Neumann, is to draw Berlin’s attention to Bitcoin and cryptocurrencies, which are “our financial future”, he says.
One could see the logo’s projection atop the Berliner Fernsehturm tower as a potent representation of Bitcoin’s rising popularity and awareness. The tram stops in front of the HSBC Hong Kong office had large advertising signs supporting Bitcoin on it back in September 2020. The Bitcoin Association of Hong Kong financed the advertisements (BAHK).
Advocates of Bitcoin have been encouraging the currency’s widespread adoption with such unique, creative efforts over the last few years. Bitcoin also got the limelight at the World Economic Forum in Davos this year, despite not being on the official agenda.
One of Bitcoin’s selling points is its capacity to address some of the problems with conventional finance, such as the inflation problem because of its fixed supply. Recent developments are also on the positive side. In contrast to the bearish price movement and the turbulent collapse of exchanges and lending organizations, the bitcoin mining sector has remained comparatively stable. Profit margins for Bitcoin miners have recently been progressively increasing, according to a few positive metrics.
A rare blizzard in the United States is mostly to blame for the network’s minor decline in hash rate around the end of 2022, although it has since rebounded significantly to surpass its former peak above 270 EH/s. It was also comforting to observe that, despite the fallout from FTX, hash rate was still holding up far above summer 2022 lows.
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