The Countdown to Halving
With less than 2 days left before the crucial half-off event, where the daily supply of bitcoin drops from 900 to 450, miners are fiercely competing to mine a block the first after the half-reduction The first “satoshi” obtained from the initial half-reduction can fetch experts millions of dollars It is predicted.
The Evolution of Bitcoin Halving
The upcoming fourth phase, which reduces miners’ rewards from 50 to 25 BTC per piece, is a far cry from the Bitcoin scenario of 2008 or 2012. One bitcoin is worth over $60,000 and investors are now the ones who mine the whole… a tiny bit of bitcoin, satoshi, 100 billionths of a bitcoin Similarly. The tournament focuses on tracking satoshi from the first half and half block. The company successfully moves the block and wins the competition. But why this great competition from Satoshi?
The Value of the First Satoshi
Last year, the Ordinals Protocol appeared on the Bitcoin network, causing a lot of interest among investors. This protocol, also known as Bitcoin NFT, requires data to be written on these satoshis, called “writes,” to get NFT value from them. However, the abundance of data in these satoshi has motivated their outstanding value.
Casey Rodarmor, the creator of Ordinals and the recent Runes protocol, categorized these satoshis based on their value:
- Common: Not the first satoshi of a block
- Uncommon: The first satoshi obtained from each block
- Rare: The first satoshi obtained from the first block after every difficulty adjustment
- Epic: The first satoshi obtained from the first block after every halving
- Legendary: The first satoshi of each cycle
- Mythical: The first satoshi was obtained from the Genesis block of the first Bitcoin…
Achieving the “Mythical” satoshi, linked to the Genesis block and believed to be mined by Bitcoin’s creator, Satoshi Nakamoto presents an exceedingly formidable challenge. Therefore, many believe that this Bitcoin remains untouched in his wallet.
The Rarity and Value of Satoshis
These categorized satoshis hold significant value. Recently, auction house Sotheby’s sold one of these satoshis for $160,000. So, yes, a satoshi, or one hundred millionth of a Bitcoin, was sold for 2.71 BTC.
Valuation of Epic Satoshi
Among the groups, some estimate that the “epic satoshi,” the first satoshi extracted from a block excavated shortly after it was halved, is worth millions of dollars million, while others say it could be $50 million.
Potential Extra Income for Miners
A manager from Marathon Digital, one of the largest mining firms in the U.S., likened the epic satoshi to a lottery ticket. There are even claims that numerous crypto investors have offered millions of dollars in advance payment to the Ordinals development company and teams to secure the first mined satoshi post-halving. Although miner rewards may halve, the “winning ticket” miner could potentially earn significantly more than anticipated.
Anticipated Interest in Assets on the Bitcoin Blockchain
People expect that the anticipated interest in assets like Runes and BRC-20 on the Bitcoin blockchain will additionally draw attention. Furthermore, the transaction fees generated from these assets will contribute to the additional income lining the pockets of miners.
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