Bitcoin SV has made a fresh attempt at claiming the Bitcoin name for itself, announcing a new design for the two-month-old cryptocurrency’s logo.
However, many observers are finding it a source of humour that while other Blockchain projects were busy working on further improvement and seeking mass adoption on the 10 year anniversary of the currency, the BSV team was buried in something as “trivial” as coming up with a new logo.
The Bitcoin Commerce Association, or bComm, announced the new design for the logo of the currency that was created a mere two months ago resulting from the hard fork that also resulted in the creation of Bitcoin Adjustable Blocksize Cap (ABC). In the press release confirming the change, bComm said that the new design “reflects Bitcoin SV’s roots while leading a new era for Bitcoin to professionalize.”
November of 2018 saw a hash war breaking out between two “teams” that had opposing ideologies regarding the future of Bitcoin. A hard fork followed, resulting in the creation of Bitcoin Satoshi’s Vision (BSV) and Bitcoin ABC. However, Bitcoin ABC is faring much better as of now, with most cryptocurrency exchanges using Bitcoin ABC as the original Bitcoin in their listings.
Bitcoin SV on the other hand currently has less than 5,000 active addresses and as such, this move was probably an attempt to gain some traction in the field, gaining more users in the process.
The new logo has Bitcoin’s “B” capitalized, and the letters “SV” are “in dragon gold, honouring the dragon logo of the Bitcoin SV full node implementation,” according to the press release by bComm.
nChain’s CEO Jimmy Nguyen lauded the move, stating,
“After too many years of wasteful diversions from the Satoshi Vision, we can now finally celebrate Bitcoin’s rebirth…The new BSV logo represents this pivotal moment for Bitcoin to grow up.”
He further explained the difference between the new and the old logo:
“To differentiate the full node implementation from the BSV cryptocurrency, the Bitcoin SV Node team at nChain intends to keep its dragon logo for the time being. Occupying the 5th position in the Chinese zodiac, the dragon is the mightiest of the signs.It symbolizes leadership, ambition, good fortune, energy, and independence – perfect qualities for a reference implementation to lead Bitcoin to its destined world-changing future.”
The process of choosing the new logo involved collecting opinions from Twitter users through a poll, asking voters to choose between a few ideas for new logos, some of which are shown below. The winning design managed to collect 33% votes out of 1,035 total votes.
In addition to rebranding, other players in the BSV ecosystem made important contributions to mass adoption. Coingeek, run by billionaire founder and Wright ally Calvin Ayre, did their part by issuing “commemorative silver coins to mark the mining of the genesis Bitcoin block.”