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While Satoshi Nakamoto is credited as the anonymous creator of Bitcoin, the altruistic efforts of other community stakeholders, including investors, owners, developers, and designers, are often not in the spotlight. However, one of those important contributions was found to have a flaw that was imperceptible to the naked eye for more than 12 years.
When zoomed in, the Bitcoin logo shows a small orange line from the bottom entering the white colored “₿”.
A brief history of Bitcoin and its logo
Bitcoin was created in 2009 by a person or group of people using the alias Satoshi Nakamoto. This alias first appeared in the original Bitcoin white paper from 2008, which outlined the blockchain technology that would support the entire cryptocurrency market.
Shortly after the launch of Bitcoin in early 2009, the initial version of the Nakamoto logo appeared online. This included a gold coin with the letters “BC” inscribed on it. The logo adhered to the design principle of skeuomorphism, which requires digital objects to closely resemble their real analog counterparts.
In 2010, with the launch of the Bitcoin discussion forum, it seemed that the rapidly growing community had a lot to say about the design of the Bitcoin logo. After considering design recommendations from the community, Satoshi submitted a redesigned Bitcoin logo on February 24, 2010.
Nakamoto dropped the initials “BC” for this second version of the logo and was inspired by the dollar sign. The stylized “B” was engraved in the center of the gold coin, which he retained. Unlike the dollar sign, this symbol received two strokes. And unlike the dollar sign, the strokes never crossed it; They came from above and below.
However, the response from the community was not very good. Many claimed that this version lacked professional finesse and that the logo did not last long.
It was in November 2010 when a third iteration appeared, which has been maintained until now. Bitboy, a member of the bitcointalk.org community, provided the vector files for the recognizable Bitcoin logo on November 12, 2010, and has since gained international recognition. Bitboy improved the Bitcoin logo design using the MasterCard logo as a model. Bitboy kept Nakamoto’s “B”, but drew it in white, placed it in a flat, deep orange circle, and angled it to the right (13.88 degrees clockwise).
For the next ten years, the Bitboy iteration would replace the existing Bitcoin logo due to overwhelming support from the community. This is the official Bitcoin logo and can be freely reused for commercial and non-commercial purposes due to an open license from Bitboy.
An Iconic Glitch: Bitcoin Logo Glitch Turns Sensational
It wasn’t until recently that a social media post pointed out that Bitcoin’s iconic logo has a glitch that went unnoticed for over 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 branding removed and artistic proportions improved.
A small design detail that has carried over through many iterations of the original. #bitcoin logo since its creation in 2010 pic.twitter.com/nYElwD2S6v
—Doctor (@_Bosch_) February 9, 2023
Community reaction and impact on the currency
The community has not raised any concerns about the discovery, as the logo has absolutely nothing to do with how Bitcoin works. Even if new vectors were developed after fixing the issues, they would not be widely adopted until the community decided otherwise.
The Bitcoin logo has been making headlines even before this post caught people’s attention. It was recently the talk of the city of Berlin, where the iconic Berliner Fernsehturm Tower was lit up with an image of the Bitcoin logo for an advertising campaign.
He #bitcoin the logo is on the Berliner Fernsehturm tower in Berlin right now pic.twitter.com/Wn2b3koWUH
— 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 might see the projection of the logo atop the Berliner Fernsehturm tower as a powerful representation of Bitcoin’s growing popularity and awareness. Tram stops in front of the HSBC Hong Kong office had large billboards supporting Bitcoin in September 2020. The Hong Kong Bitcoin Association financed the ads (BAHK).
Bitcoin proponents have been encouraging widespread adoption of the currency with such unique and creative efforts in recent years. Bitcoin was also in the spotlight at the World Economic Forum in Davos this year, despite not being on the official agenda.
One of Bitcoin’s selling points is its ability to address some of the problems of conventional finance, such as the problem of inflation due to its fixed supply. Recent events are also on the bright side. In contrast to the downward movement in prices and the turbulent collapse of exchanges and lending organizations, the bitcoin mining sector has remained comparatively stable. Profit margins for Bitcoin miners have increased steadily recently, by some positive metrics.
A rare blizzard in the United States is the main culprit for the minor network hash rate decline in late 2022, though it has since recovered significantly to surpass its previous peak above 270 EH/s. It was also reassuring to note that despite the fallout from FTX, the hash rate was still holding well above the lows of summer 2022.
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