(Last Updated on March 24, 2021)
Although he never referred to it as so, is this Satoshi’s jest on Bitcoin being “digital gold”?
Satoshi Nakamoto released a few specific Bitcoin logos for the masses to use completely opensource.
His most infamous logo was the “Gold Coin” that we see below. Truly a placeholder of ideas between digital cold and bit-cash that we never got to see fully developed into a 3D masterpiece. But this simple logo represents the state of the internet and digital quality in 2008. It was very different, a wild west of digital freedom in an unmanicured digital world compared to today’s 4K and virtual reality environments.
Bitcoin = Digital Gold 2.0
At the time, Cypherpunks were generally either trying to create a “digital gold” or “e-cash” of sorts during that time. This wasn’t due to gold’s apocalyptic store of value, but the limited supply factor that helps carry an individuals wealth through time. Bitcoin’s creator, Satoshi was also keen to note the similarities between hard money like gold and silver with his blockchain creation.
So no one was surprised to see a Bitcoin “Gold Coin” logo.
Here is our take on Satoshi’s original coin logo in Pixel Art
The store of value narrative started to gain more strength and the comparison to gold was an easy way to get traditional investors to understand the utility of having a fixed token supply.
There are many hard asset economic principles that define the core code that define it as a an anti-inflationary, hedge, against debasement of national currencies.
-> 21 Million BTC is fixed supply – there are @ 1 to 2 million coins presumed lost.
-> Halvings create hardening affect by fighting Moore’s law and reducing mining supply over time
-> Can self-custody for full responsibility of a portion of your wealth in case of government corruption, wars, economic disparity, financial collapse, etc
This Pixel Art above is based off the simple gold coin version that was released and quickly became iconic throughout the cryptocurrency community. The iconic internet image quickly came synonymous with magical internet money.
But for some reason whenever I see the image I just think of Super Mario punching boxes and gold coins popping out..
Hodl Nerd @ 2020 - All Pixel art is free for use BTC Donations appreciated - 3ASizXhF247Jm4vWi4KK1WAz26Hcvyjb9w