Bitcoin is a peer-to-peer payment system, as well as its virtual payment unit. They appeared in 2009 in Japan, being created from scratch by Satoshi Nakamoto.
Meaning and History
What is Bitcoin?
Bitcoin is a peer-to-peer cryptocurrency and a decentralized payment system using this currency unit. It was introduced in 2008 by an unknown person (or group of people) under the name Satoshi Nakamoto and was put into circulation in 2009. Bitcoins are obtained by mining or exchanging them in a peer-to-peer network without intermediaries.
Compared to other cryptocurrencies, bitcoin is the most demanded and widespread. Today it is included in the Unicode standards under its unique number. It is included in the original logo, which is combined with two parts: text (system name) and graphic (BTC symbol).
But before they became the basis of an authentic emblem, they went through several modifications separately. For example, at first, the designation of the unit of account resembled the Thai baht – the capital “B” crossed vertically with one line. However, over time, when the community realized that it was a stable and reliable cryptocurrency, its sign began to look like a “B” with two vertical lines – like a dollar. Also in use were just the letters “BC” – short for “bitcoin.”
Font and Color of the Emblem
What is the symbol of Bitcoin?
In the first years of Bitcoin’s existence, its symbol was an abbreviation BC, created from two bases: bit (a unit of digital information) and coin (a monetary symbol, a coin). Then came the symbol of a single B with two short strokes at the top and bottom, like a vertical dollar line – $. On the exchange, this cryptocurrency is traded under the ticker BTC. There is also a variant of XBT.
When the project began to gain popularity and become successful, the need for its symbols became more acute. Moreover, it was necessary to depict something that is not similar to any competing virtual system. It was then that Satoshi Nakamoto presented the first version of the logo to the world. In February 2010, he published the development on BitcoinTalk and suggested that one bitcoin corresponds to 100 million satoshis. Then the forum visitors expressed their assumptions about this.
As a result, the participants in the discussion came to a collective opinion: the mark must meet certain criteria that will not allow fraudsters to copy and duplicate it. At first, the basic structure of the BTC emblem consisted of three elements: a rectangle, a small circle, and a curved line. Later, Nakamoto corrected the official symbol by adding two vertical strokes – dashes at the top and bottom. Bitboy created the current version.
The numerical sign for block “B” is the figure eight (8). A pair of lines at the top and bottom of the capital letter should be associated with the dollar. But if you look closely, you will notice that the stroke on the badge is incomplete and differs from the dollar one. This makes the graphic look like “B” is superimposed on “$” and overlaps it. This technique has a special interpretation: it is time to oust the old currency and replace it with a new one – bitcoins.
Who owns the Bitcoin logo?
The Bitcoin logo only belongs to the payment system with the same name. Its actual owner is thought to be Satoshi Nakamoto – the creator of the cryptocurrency. But because he developed the logo for everyone, it doesn’t have one real owner. It, too, is “decentralized” and is used for the website and to denote the currency.
Who designed the Bitcoin logo?
The designers of the Bitcoin logo are two people. Satoshi Nakamoto (the creator of this cryptocurrency) introduced the first version he designed in 2008. Later, it was refined by Bitboy enthusiasts and brought up to the standard that is used today.
Why is the Bitcoin logo orange?
The design of the modern Bitcoin logo was invented by a member of the forum of crypto-enthusiasts, who was approached for advice by Satoshi Nakamoto, the creator of this digital currency. The stranger under the nickname Bitboy was inspired by the MasterCard logo and used a circle of orange by analogy with it. This palette is considered a marketing palette. According to the hex code, it is #F6911D; according to Pantone, it is 1495 C.
The inscription “bitcoin” in the text part is oblique, executed in lower case letters. The font is sleek, sans serif. Symbols “i” are the same height as “t,” which has half of the horizontal stroke cut off. The tops “b” and “t” are cut at an angle to the left, and the pointed ends are on the right. Initial attempts to incorporate the BTC distinctive mark into the Unicode system have failed. But at the end of 2015, bitcoin was officially registered and received its symbol.
A cryptocurrency palette consists of a combination of several colors. The inscription can be colored white or gray, the designation of the virtual unit of account – only in white, the coin – in orange, the background – in black or white. The yellow-orange range is perceived naturally because it is associated with the shine of gold.