What is a Rare Satoshi?

Introduction

A Satoshi (Sats), named in honor of Bitcoin’s creator Satoshi Nakamoto (pseudonym), is the smallest unit of Bitcoin (BTC). Each Bitcoin can be divided into 100 million Satoshis, making 1 Satoshi = 0.00000001 BTC. Satoshis enable extremely small transactions, crucial for daily transactions and micro-payments. As Bitcoin prices rise, Satoshis provide a more precise division of value, allowing for lower-cost transactions. In exchanges and wallets, users can buy, sell, or transfer Bitcoin in Satoshis, helping ordinary users understand and use Bitcoin better, especially when its price is very high.

Ordinals, an open-source project led by founder Casey on GitHub, assigns unique numerical identifiers to each Satoshi. Ordinals allow for tracking and transferring individual Satoshis. Bitcoin is numbered in the order they are mined, transferring from transaction inputs to outputs (following a first-in-first-out principle). This numbering scheme depends on the order of Bitcoin mining, and the transfer scheme relies on the order of transaction inputs and outputs. The ordinal theory operates without any changes to the original Bitcoin code.

Using Ordinals software, each Satoshi can be tracked and assigned content, turning into a new digital asset, such as NFTs with images and text, or BRC20 inscriptions with specific text forms.

Expression of Ordinals

Before understanding Rare Satoshis, it’s important to know how each Satoshi is numbered.

Source: https://ordinals.com/sat/2099994106992655

Integer Symbol (Sat)

Assigned according to the mining order of Satoshis, e.g., “Sat 2099994106992655” as shown above.

Decimal Symbol (decimal)

The first number represents the block height of the mined Satoshi, the second is the offset within the block, e.g., “3891094.16793” as shown above.

Degree Symbol (degree)

As shown above, “3°111094′214″16793‴”.

Percentile Symbol (percentile)

Represents the position of the Satoshi in the Bitcoin supply as a percentage, e.g., “99.99971949060236%” as shown above.

Name (name)

Encodes the ordinal using characters from a to z, e.g., “satoshm” as shown above.

Rarity (rarity)

Named as Common, Uncommon, Rare, Epic, Legendary, and Mythic, e.g., “common” as shown above.

What is a Rare Satoshi?

Understanding the numbering logic of Satoshis, we can start with the definition of Rare Satoshis. The number of Bitcoins and hence Satoshis is fixed. Satoshis can be transferred and tracked, each with a unique numerical identifier. Official documents define Rare Satoshis based on Bitcoin’s periodic events, including:

Block Mining

In the Bitcoin network, a new block is mined approximately every 10 minutes. The first Satoshi of each block is a Rare Satoshi.

Difficulty Adjustment

The Bitcoin network adjusts block difficulty in response to hash rate changes approximately every 2016 blocks, or about every two weeks, to maintain the mining speed of BTC. Therefore, the first Satoshi of every 2016 blocks is a Rare Satoshi.

BTC Halving

Every 210,000 blocks, about every four years, Bitcoin regulates its output speed by reducing miner rewards, thus controlling BTC’s inflation rate. Hence, the first Satoshi of every 210,000 blocks is a Rare Satoshi.

Cycle Period

Every six halvings and difficulty adjustments occur simultaneously. The cycle period happens about every 24 years, with the first likely in 2032. The first Satoshi of the first block produced at this time is a Rare Satoshi.

Grading and Total Amount of Satoshis

Satoshi are categorized based on periodic events, and their rarity is determined by the order of their occurrence. There are six levels of rarity, in addition to two special types of Satoshi, making a total of eight categories:

Visualization of Periodic Events and Rarity Classification of Satoshi

Using a degree notation system for a clear indication of the ordinal rarity of a Satoshi:

Source：https://foresightnews.pro/article/detail/35671

This representation method distinctly showcases the various rarity levels within the Satoshi classification:

Common

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Uncommon

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Rare

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Epic

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Legendary

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Why Uncommon Satoshi are Rare

Currently, the most commonly found rare Satoshi are the Uncommon ones, with a supply of 6,929,999. Other higher-level rare Satoshi are even rarer. In the realm of Common Satoshi, there might be one Uncommon Satoshi in about 300 million Common ones. Furthermore, many rare Satoshi are often stuck in exchanges and miners’ wallets, requiring certain technical skills to filter out. Presently, there are nearly 7 million inscriptions on the entire network, but less than 300 are inscribed on rare Satoshi.

How to View Rare Satoshi

There are three methods to find them.

Method One

Visit Sating, enter a BTC address or Satoshi number to search.

Go to the official website, click ‘Connect Wallet’ to link a wallet. You can choose Xverse or Unisat wallets. After linking, enter the BTC address or Satoshi number in the search box below.

Source: sating.io

Method Two

Search by ID on the Ordinals official website.

Go to the official website, and enter the satoshi ID in the search box at the top.

Source: ordinals.com

Method Three

Check the release status of rare Satoshi on the Ord.io official website.

Go to the official website, click ‘Range’ to view cursed inscriptions or general inscriptions. Click ‘Satributes’ to select and view different levels of rare Satoshi.

Source: www.ord.io

Conclusion

Rare Satoshi are not only scarce but also interesting, deriving their value from ordinal theory and consensus. Besides the rarity defined by periodic events, there are now Ancient Satoshi, Named Satoshi, and Cube Satoshi that exhibit symmetry in numbers and arrangements, further enriching the narrative of Satoshi. The gameplay of rare Satoshi continues to evolve, from collecting individual Satoshi to stacking various attributes, thereby enhancing the fun and consensus around them. With f2pool launching an auction feature for rare Satoshi, this could bring new business opportunities to mining pools. As the ordinal theory adds value to the Satoshi collection, the crypto world is constantly changing, and investments should be made based on one’s risk tolerance.