Introduction

Importance of logo should not be misunderstood or undervaluated: Bitcoin logo is widely recognizable by a vast part of population. The achievement of a similar goal is aimed by many companies, which have a dedicated departement and competent designers, as logo is central in branding a company and advertising a product. Bitcoin did this, one could say, by itself, or, to be more accurate, with the investiments of privates that found a way to profit on it.

First Satoshi logo

When Satoshi mined the genesis block two months after the announcement of Bitcoin Core, there was still a lot of Bitcoin to build: wallets, block explorers, exchanges. There wasn’t even an exchange rate, nor a place to trade, nor a symbol to represent the bitcoin currency. The first logo, designed by Satoshi himself, was the gold coin containing the letters BC shown below.

Satoshi's coin is an example of skeuomorphism, in which digital objects are designed to resemble their real-world counterparts. iPhone, was launced two earls earlier, with the revolutionary skeuomorphic iOS design, where the app for Note was iconized as an actual block notes. Many argued that the use of a gold coin by Satoshi was explainad by the intention to create a digital gold. 

“I propose that we adopt the Thai baht currency symbol, ฿, as the official bitcoin currency symbol and BTC as the official bitcoin three letter currency code,” wrote Bitcointalk forum member “NewLibertyStandard” on Feb 5, 2010. He also made the first bitcoin purchase using fiat currency, paying $5.02 for 5,050 BTC. Many observed that the use of bath symbol could lead to confusion.

Second Satoshi logo

Satoshi updated Bitcoin logo design in February 2010, basing it on the Thai baht concept. Hal Finney, possible Satoshi candidate, pointed out in a comment the analogy between Bitcoin and dollar: the second one was, according Finney's sources, originally represented with two bars, as Bitcoin is in this proposal. But, whatever was Satoshi's idea, by early 2010, as a small community formed, the discussion about the logo to use started, also because of the objectively amatorial skills of Satoshi as digital designer.

Bitboy logo

On Nov. 1, 2010, forum user “bitboy” shared his own Bitcoin logo, with the ₿ white and orange, hex code #F6911D, Pantone 1495 C, with a 13,88° clockwise rotation, while BitcoinCash one is on the other side. Bitboy admitted he took inspiration from Mastercard logo. By now it was 2011; conversation moved slowly back then.

The Bitcoin logo. 

A Medium post author, Phil Wilson, claimed that he was involved in both the Bitboy design and Nakamoto’s 2010 version.

Conclusions

Having no property or governance, Bitcoin logo led to a debate among early cryptoenthusiasts, mainly on bitcointalk. A poll was indicted in mid-2011, with a landslide victory of ฿ instead of alternatives like β, Ƃ, and Ƀ. Only in June of 2017, Bitcoin unicode symbol was set as ₿, with a unilateral Unicode Governsnce decision. While ₿ is nowdays the most widely adopted symbol of Bitcoin, other logos, such as Ƀ, are still used.

Sources: https://decrypt.co/43923/bitcoins-logo-the-story-of-the-big-orange-b?amp=1

https://news.bitcoin.com/bitcoin-history-part-2-the-bitcoin-symbol/

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