On 20th April 2024, the Bitcoin blockchain experienced a historic moment - the fourth block reward halving. At this significant juncture, the mining pool ViaBTC successfully mined block 840,000, the block where the halving occurred, and obtained one of only four epics “rare satoshis” in the entire Bitcoin ecosystem.
The creation of this block has garnered widespread attention within the cryptocurrency community and has become a hot topic in the media. To leverage the attention surrounding this event and further enhance CoinEx’s brand visibility, CoinEx has decided to collaborate with ViaBTC to launch a unique auction.
The focal point of this auction will be the “rare satoshi” obtained from block 840,000 mined by ViaBTC. This rare satoshi symbolizes a historic moment for Bitcoin and holds significant collectible value and symbolic meaning for Bitcoin enthusiasts, collectors, and investors in the cryptocurrency community.
“Rare satoshi” refers to a unique Bitcoin unit that is designated based on certain periodic events in the Bitcoin network; it is the first satoshi in every 210,000th block. Each bitcoin can be further divided into 100 million units, known as satoshis, with 1 Satoshi equal to 0.00000001 BTC. Satoshis are individually numbered and can be transferred and tracked. The quantity of satoshis is fixed due to the fixed supply of Bitcoin.
There are only about 32 epic sats in total, which makes each one significant and rare; out of the 32, only 4 are available in the market. Rare satoshi can either be treated as a collectible, similar to antiques, as a token deployment, or even issued as a coin, and it can also be auctioned to the public. For the rare satoshi obtained by ViaBTC in this year’s Bitcoin halving, CoinEx, the partner of ViaBTC, has planned to auction it off.
Ordinals, or satoshi numbering schemes, have caused controversy while also creating an emergent market for this epic “rare satoshi”. These satoshis, which are the “epic satoshis”, are among the rarest because they only appear during each halving epoch, which occurs every 210,000 blocks or roughly every four years. Because of their scarcity, these satoshis have become increasingly valuable to those trading in the Ordinals market.
Ordinals are classified into six levels based on their rarity, as stated below.
Ordinal rarity levels:
- Common: Any sat that is not the first sat of its block.
- Uncommon: The first sat in each block.
- Rare: The first sat of each difficulty adjustment session.
- Epic: The first sat of each halving epoch.
- Legendary: The initial sat of each cycle.
- Mythic: The initial sat of the genesis block.
Ordinals Marketplaces list rare satoshis at values higher than what a single normal satoshi is worth at the moment. These markets include prestigious auction houses such as Sotheby’s, which indicate widespread interest and attention.
The auction of the epic “rare satoshi” mined by ViaBTC is currently ongoing, and this rare satoshi can be collected, transferred, or sold to other channels in the future. To participate in the auction, which will end on 25th April, click on this link to participate now.
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