Bitcoin mining companies will try to mine the first block that appears after halving in order to get an "epic" Satoshi with an estimated value of several million dollars. This is reported by CoinDesk.
What is the value?
About two years ago, Casey Rodarmor, the creator of the Ordinals protocol based on the blockchain of the first cryptocurrency, developed a system for classifying the rarity of individual sats.
Satoshi's rarity system. Data: t4t5.With the launch of "inscriptions", it became possible to number and sell bitcoin shares by analogy with non-interchangeable tokens. The Rodarmor scale ranged from the first "unusual" Satoshi in each block to the "mythical" one — the very first in the history of the blockchain.
One of the highest degrees of rarity is occupied by the "epic" sat, mined in the first block of bitcoin after each halving.
The founder of Ordiscan, under the nickname Tristan, admitted that Ordinals collectors can "conservatively" estimate this asset at $50 million.
"If we compare the number of satoshi received during an event that takes place every two weeks [recalculation of complexity] with the number of Satoshi received every four years, I do not know how much they will cost, but this value can reach millions of dollars," said Adam, director of development of the Marathon Digital mining company Swick.
The Hashrate Race
CoinDesk suggested that mining companies could coordinate their capacities for mining rare sat before the halving itself, which is expected to take place on April 20 at an altitude of #840,000.
The network participant who has extracted the coveted block must send 546 satoshi — the minimum transaction amount called the "dust limit" — from the 3,125 BTC reward portion to a cold wallet. After that, the sat that gets into the meme pool will be marked "retroactively" as the first in the era.
"In fact, they broke 3,125 BTC into two parts: one of them is incredibly small, and it contains the first Satoshi, and the rest is just bitcoin, and there is nothing special about it," explained Tyler Whittle, a representative of Ordinals Taproot Wizards.
According to Swick from Marathon, the company has "thousands of such unusual satoshi," including the first in the block. The firm has often studied the market to understand the value of such assets.
Marathon also produced the first sat after difficulty adjustment, which at one point "cost hundreds of thousands of dollars."
The Hut 8 miner is examining his balance sheet in search of rare resources that he may already own.
"When we first started mining, people said they would pay a premium for primary bitcoins, but this is not a very liquid market, so the price is not entirely clear here," said CEO Asher Genut.
Large miners with high hashrate may well qualify for the "epic" Satoshi. For example, Marathon's share is about 5%, which means that the company has an appropriate chance of receiving the first sat after halving.
"We understand that this is a kind of lottery ticket. But we try to make sure that all our devices are connected to the network. In any case, this is our goal, and we are acutely aware of the approach to halving," added Svik.
Thomas Chippas, CEO of Argo Blockchain, noted that miners can claim the desired Satoshi only if they have capacities comparable to Marathon.
Recall that 10x Research warned about the potential sale of $ 5 billion worth of bitcoins by miners after halving.
In April, Marathon CEO Fred Thiel said that the upcoming reduction in the block reward has already been taken into account in the price of bitcoin.
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