bitcoin SV, one of the factions that emerged from BTC [BTC] $BTC Cash’s in November, has decided to rebrand its coin with a new logo.
The mainstream version of the BTC [BTC] $BTC SV logo will drop the coin’s previous dragon imagery in favor of more symbolic “dragon gold” colors in the logo text.
However, as you can see, the new logo is quite bare-bones. Is this a trivial change, or will it succeed in allowing BSV to abandon its past associations with and challenge BTC [BTC] $BTC directly?
What Does the Logo Mean?
On one level, the new logo is just a superficial marketing move. As part of a , the BTC [BTC] $BTC Commerce Association (bComm) and nChain have emphasized that the new image will allow the coin to move forward:
“After too many years of wasteful diversions from the Satoshi Vision, we can now finally celebrate BTC [BTC] $BTC’s rebirth – unchained from experimental whims of developer teams who veered away from Satoshi’s original plan. The new BSV logo represents this pivotal moment for BTC [BTC] $BTC to grow up.”
Many have mocked BTC [BTC] $BTC SV’s overzealous rhetoric. That said, the logo seems to be serving a purpose that has not been stated outright by its designers. BTC [BTC] $BTC SV is making an active effort to become recognized as the real BTC [BTC] $BTC, and, accordingly, its new logo is incredibly similar to the BTC [BTC] $BTC logo…
…possibly too similar. BTC [BTC] $BTC branding is hotly contested territory. Roger Ver, the , has previously taken steps to have BTC [BTC] $BTC Cash perceived as the one true BTC [BTC] $BTC. As a result, Ver has been accused of conflating the two coins on his website, BTC [BTC] $BTC.com.
Now, BTC [BTC] $BTC SV seems to be using the same tactic to attract adoption. Whether this tactic actually works, and whether BTC [BTC] $BTC SV will become the target of similar accusations, is unclear. However, it seems that any attempt to gain legitimacy based on one’s can quickly backfire.
Suggested Reading : Check out BTC [BTC] $BTC Cash wallets (not BTC [BTC] $BTC SV).
bitcoin SV Refuses To Die
It is somewhat surprising that BTC [BTC] $BTC SV has survived long enough to make even a superficial change to its image. Many in the crypto community expected BTC [BTC] $BTC SV to quickly fade into obscurity following the November hard fork. However, the coin has maintained a fairly significant position in the market.
bitcoin SV is currently the 9th largest coin when measured by market cap. Both and have noticeably higher market caps, but BTC [BTC] $BTC SV’s position is still quite significant. However, there is reason to doubt that BTC [BTC] $BTC SV’s market cap is legitimate, as some that many of BTC [BTC] $BTC SV’s mined tokens are actually inactive or unclaimed.
That fact would make the coin’s true market cap somewhat smaller than it appears, and a low market cap would be in line with mainstream attitudes toward the coin: major exchanges have suggested that BTC [BTC] $BTC SV is a high-risk investment, and the coin receives no love from vast portions of the crypto community.
In fact, BTC [BTC] $BTC SV’s questionable foothold in the market seems to be driving its attempts to improve its image. Whether these marketing tactics are legitimate or mere gimmicks depends on where one’s sympathies lie. However, it seems unlikely that opponents of BTC [BTC] $BTC SV will buy into the coin’s marketing campaigns — literally or figuratively
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Published at Mon, 07 Jan 2019 19:04:42 +0000
