Today, the Bitcoin mining pool ViaBTC has officially mined block 840,000, which not only ushers in Bitcoin’s fourth halving, but also includes what has been deemed an “epic sat” by the Ordinals numbering system, which is the first satoshi (the smallest unit of a bitcoin) of each halving epoch. .
Ordinals, numbering systems for satoshis, have sparked controversy but also created an emerging market since their launch. These satoshis can also be categorized by their rarity, with “epic satoshis” being among the rarest, as they only occur during each halving epoch, which is every 210,000 blocks or approximately every four years. This rarity has made these satoshis more valuable among those participating in the Ordinals market.
The rarity of ordinals has been classified into six different ranks, as described below.
Ordinal rarity levels:
+ common: Any sat which is not the first sat in its block
+ uncommon: The first sat of each block
+ rare: The first sat of each difficulty adjustment period
+ epic: the first sat of each era halved
+ legendary: The first sat of each cycle
+ legendary: The first sat of the Genesis block
The value of an epic satoshi is large enough to attract the attention of miners, developers, investors and collectors. Bitcoin block 840,000, coinciding with the halving, includes an epic satoshi, intensifying interest in the first block of the halving.
Markets for ordinals list rare satoshis at higher prices than 1 normal satoshi is normally worth at any given time. These markets include high-class auction houses like Sotheby’s, demonstrating the interest and attention of the general public.
As ordinals and associated markets continue to grow, questions arise about their impact on the Bitcoin ecosystem. The introduction of new protocols like Runes adds complexity, attracting miners and investors seeking opportunities in this evolving landscape, as incentives related to “rare satoshis” and ordinals could introduce new strategies among Bitcoin miners.
