In the world of cryptocurrencies, uniqueness and rarity are highly sought after. At this point, not everyone can get a full coin. That’s why custom satoshis are going to be the next big craze. Let’s look at the details.
crypto frenzy
On June 5, Ordinals influencer and developer “Leonidas” announced that centralized exchanges hold large amounts of Bitcoin. As a result, they will also have access to these rare satoshis. Leonidas “CEXs and mining pools will wake up one by one. They will realize that they control most of the rare satoshi market. This movement has only just begun.” says. Ord.io revealed that the Binance cold wallet address holds 1.28% of all cryptocurrency BTCs, or 24.8 trillion satoshis. Of this total, three are considered “rare” and 12,394 are considered “non-rare”.
Close up photo of bitcoin crypto currency in darkOn the other hand, on the subject, cryptocurrency Bitcoin investor “Trevor.btc” makes a comment. According to him, he states that Rare Satoshis should be hunted before Binance can act. On the other hand, he emphasizes that once exchanges and miners catch up, they will definitely monopolize the Rare Satoshis. Casey Rodarmor, creator of the Bitcoin Ordinals protocol, also proposes a method for identifying private satoshis. The cryptocurrency uses natural, pre-programmed events in Bitcoin evolution. He states that accordingly, the “first” satoshi of these events received a name and rarity status.
What’s in the categories?
These categories are Common, Uncommon, Rare, Epic, Legendary, and Mythic. It is also called “Rodarmor Rarity Index”. The first satoshi of a block is classified as “rare”. Also, the first satoshi of each difficulty adjustment, approximately 2,016 blocks, is considered “rare”. One in 1.26 trillion satoshis is rare. According to Rodarmor, the epic satoshi is the first satoshi after each halving, while the legendary satoshi is the first of every ‘cycle’ that occurs every six halves. The legendary Satoshi is the inexhaustible genesis satoshi created by Satoshi Nakamoto himself. There are other measures of value, such as the satoshis used in the first cryptocurrency Bitcoin pizza transactions.
Trevor.btc said the hunt for rare satoshi has already begun. Professional Satoshi Hunters look for Rare Satoshis by sending large amounts of cryptocurrencies BTC back and forth to exchanges and then checking if the BTC contains rare satoshis. On the other hand, on June 4, the Bitcoin Ordinals protocol was upgraded to version 0.6. cryptocoin.com On the face of it, the upgrade allows some inscription types that were previously invalid or “cursed” to be indexed. More than 71,000 ‘cursed’ inscriptions contain a negative sequence number. The protocol did not recognize and classify them before.
