Hunting for Rare satoshi
On June 5, an influential developer in the crypto community and Ordinals developer “Leonidas” revealed that centralized exchanges are holding a large amount of Bitcoin. This means they will have access to rare Bitcoin coins, known as Rare satoshi.
Accordingly, the developer said, gradually centralized exchanges and mining pools will realize that they control a large portion of the Rare satoshi market. This marks the beginning of a new trend in the cryptocurrency sector.
Rare satoshis refer to Bitcoins that are rare and hard to find on the market. Owning Rare satoshi can be of great benefit to centralized exchanges and mining pools, and create a new opportunity for crypto investors and users.
According to Ord.io, the Binance cold wallet address is said to hold 1.28% of all Bitcoins, or 24.8 trillion satoshis. Of these, three are considered “rare” and 12,394 are considered “uncommon”.
Bitcoin investor “Trevor.btc” has made the point that one should start hunting for Rare satoshis now before Binance takes action. He thinks that exchanges and miners will fully control Rare satoshis as they keep up with this trend.
Casey Rodarmor, the creator of the Bitcoin Ordinals protocol, has proposed a method for identifying particular satoshis. This method uses natural events programmed from the development of Bitcoin. He claims that the “first” satoshi of each of those events have a rare name and status.
The satoshi are classified into several levels, including: common (common), uncommon (uncommon), rare (rare), epic (epic), legendary (legendary) and mythic (mythic). These levels are defined in a stat known as the “Rodarmor Rarity Index”.
The first Satoshi of each block is classified as “unpopular”. Additionally, the first satoshi of each difficulty adjustment, which occurs approximately every 2,016 blocks, is considered “rare”. About 1 in 1.260 billion satoshis is considered rare.
According to Rodarmor, an Epic satoshi is the first satoshi after each halving and the legendary satoshi is the first of each “cycle” every 6 halvings. Mythic Satoshi is the unusable original satoshi created by Satoshi Nakamoto himself.
There are also other measures of value, such as the satoshi used in the first Bitcoin pizza transactions.
Trevor.btc notes that the hunt for Rare satoshi has begun:
“Professional satoshi hunters are looking for Rare satoshi by sending large amounts of BTC back and forth on exchanges, then checking if BTC contains rare satoshi.” rewrite new content in crypto language
Bitcoin Ordinals Protocol Upgraded
On June 4, the Bitcoin Ordinals protocol was upgraded to version 0.6.0. This upgrade allows the protocol to index certain types of inscriptions that were previously invalid or unrecognized.
Previously, more than 71,000 subscriptions were not recognized for containing negative serial numbers. However, the protocol does not recognize and categorize them. But with the new version, the Bitcoin Ordinals protocol has been improved to properly handle and categorize these subscriptions.