A Binance user, after purchasing and withdrawing BTC from the exchange, has lucked upon one of just four rare “Epic Sats” The Ordinals Protocol defines the Ordinals.
Bitcoin has a hard limit of 2.1 quadrillion satoshis (or 2.1 million BTC), but the protocol does not track them individually. These satoshis that do exist, can be tracked by software. Bitcoin does have a limit, which is set at 2.1 quadrillion BTC or 2.1 trillion satoshis. But the protocol doesn’t track these satoshis individually.
Breaking: the first satoshi in #BitcoinBinance users just discovered’s 2nd halving block.
A $10 transaction worth 33 $BTC. Jackpot 🙌 pic.twitter.com/rLE16ogNsc
— Bitcoin Magazine (@BitcoinMagazine) May 2, 2024
The term “Epic Sat” Refers to the first Bitcoin of every Bitcoin halving period, which happens approximately four times a year. Recently, the first Epic Sat from the 2024 The halving was sold at an auction for more than $2 million, causing a lot of intrigue.
Binance’s user in this instance unintentionally retracted a transaction that contained the Epic Sat, from the 420,000th Bitcoin Block of 2016. Binance has failed to retain and identify the UTXO containing this valuable satoshi. This could be a mistake worth millions of dollars.
This UTXO was classified by the Ordinals system as containing sat “1575000000000000“, moved into the wallet of the user after they purchased and transferred Bitcoin.
Only four of these rare items have been produced. “Epic Sats” exist until now. The total number of 34 releases will occur in successive halvings.
The wallet address that now contains the UTXO that points to the coveted satoshi is bc1ptjcsnnycr52ccwg4mvvsczkwzvc0qydlxw6q7pcelxkx8equk3asduuz86. The UTXO was purchased in 0.02 BTC.ransaction A transaction fee was charged of about $1.50 for a purchase that cost around $1,000.
Market watchers will no doubt be waiting to see if this lucky owner keeps their Epic Sat or decides to sell it, perhaps for millions.
Ordinals Indexing Tools like Ord.io You can also find out more about the following: Ordinals.com. The satoshi number is also used to identify its position on the chain.
These Epic Sats are controversial but they create a digital scarcity that is comparable to rare collectibles. Binance’s user might spark more interest in the Epic Sats and lead to a greater search.
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Source: bitcoinmagazine.com