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History of Bitcoin Symbols

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David
History of Bitcoin Symbols

Satoshi Nakamoto, the creator of Bitcoin, didn't provide a shorthand for the currency. 

What is Bitcoin?

Bitcoin is a computer application that exchanges data with other computers (also running the Bitcoin program). The blockchain is the name given to this particular data file.

Bitcoin was developed by a mysterious individual using the alias Satoshi Nakamoto and is distributed under an open-source license.

Due to Bitcoin's status as a community-driven, distributed cryptocurrency project, its developers and users are free to make any necessary adjustments.

The Symbols of Bitcoin

The symbol BTC usually represents Bitcoin. Bitcoin's symbol, BTC, is used by the vast majority of businesses, exchanges, magazines, TV networks, and websites.

A correlation between the name Bitcoin and the abbreviation BTC exists. Given its similarities to BiTCoin, BTC quickly became the currency of choice.

BC Symbol

Satoshi Nakamoto, the creator of the Bitcoin protocol, used the BC symbol for Bitcoin in the first Bitcoin Client.

In a bitcoin talk post dated February 24, 2010, Satoshi verified the publication of the logo design pictures on Bitcoin.org.

Satoshi created the BC icon for use in the first Bitcoin Client. Check out the bottom right corner of the picture below.

BTC Symbol

On 5 February 2010, a user named "NewLibertyStandard" on the Bitcointalk site said, "I suggest that we adopt the Thai baht currency sign,, as the official Bitcoin currency symbol and BTC as the official Bitcoin three letter currency code."

The three-letter sign BTC was well-liked by almost all members, but the Thai Baht symbol caused widespread concern.

On November 1, 2010, a member named "bitboy" on the Bitcointalk forum released a new version of the Bitcoin logo, pictured below, which was drawn in the cryptocurrency's now-iconic white and orange white and also included the text "Rotation: Clockwise 14%."

Everyone has started using this logo, and it's well-liked by everybody. This logo is still widely used, and no significant changes have been made to it so far.

 

XBT Symbol

The difficulty with the BTC symbol is that it does not comply with ISO 4217 since it begins with the letters BT, which is the country code for Bhutan.

None of Bhutan's currencies utilize the symbol "BTC," but the country's usage of "BT" as the initial letter in the currency's code is exclusive.

The Bitcoin community, therefore, adopted the new Bitcoin code of 'XBT,' which is now used by Bitcoin exchanges such as Bitmex and Kraken.

However, the majority of the Bitcoin community prefers the BTC code for Bitcoin, and hence BTC is now widely used as the Bitcoin currency unit.

Since then, the unit of Bitcoin's value has been represented by the letters XBT and BTC.

Accordingly, 1 Bitcoin Cash is equal to 1 Bitcoin, 1 Bitcoin Core, and 1 XBTC.

 

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