Analcoin was created by an anonymous developer and launched on Friday 13th March 2015. There is no information for what exactly Analcoin was designed for or to be used for however it was later admitted by the developer that Analcoin was "created as a joke".

After just a few days into mining the proof of work, Buttoshi Anamoto appeared and took on the responsibility of growing Analcoin as a fun unit of exchange with the adult industry in mind. Buttman, the world's first cryptocurrency superhero was created and has become synonymous with Analcoin creating funny and often ridiculous comic book style art and mashups.

Buttoshi Anamoto, and the community, decided with the lack of interest by the original developer in making Analcoin a serious contender for adoption by the adult industry, students and people who like picture postcard humour, to take it and run with it as a community endeavour.