Second of only Four Bitcoin “Epic Sats” Found by a Binance User

UPDATE: Further blockchain evaluation signifies this buy was the results of a for-profit “sat searching operation” that was programmatically shopping for and withdrawing Bitcoin from Binance. The article has been revised accordingly.

Considered one of simply 4 uncommon “Epic Sats,” as outlined the Ordinals protocol, was found and withdrawn from the Bitcoin and crypto alternate Binance at the moment.

These particular satoshis, which don’t exist natively on Bitcoin, however could be recognized by a companion piece of software program, are thought of among the most scarce and vital in Bitcoin’s historical past. Whereas Bitcoin has a tough restrict of two.1 quadrillion satoshis, or 21 million BTC, the protocol doesn’t monitor them individually. 

This sequencing is simply recognized within the Ordinals protocol, a top-level meta-protocol constructed on Bitcoin.

BREAKING: The primary satoshi of #Bitcoin’s second halving block was simply discovered by a Binance person.

A $10 transaction value 33 $BTC. Jackpot 🙌 pic.twitter.com/rLE16ogNsc

— Bitcoin Journal (@BitcoinMagazine) May 2, 2024

The time period “Epic Sat” refers back to the first satoshi of every Bitcoin halving period, which happens about each 4 years. Lately, the primary Epic Sat from the 2024 halving bought for over $2 million at public sale, sparking intrigue round these uncommon items.

On this case, the Binance person withdrew a transaction containing the Epic Sat from the 420,000th Bitcoin block in 2016. Binance didn’t determine and retain the UTXO that contained the precious satoshi for itself, representing a possible multi-million greenback oversight.

Whereas initially believed to be a single alternate person, evaluation by Mononaut on X reveals the acquirer was doubtless a classy operation that was exploring Binance’s stock for UTXOs which will hyperlink to uncommon sats on Ordinals.

Blockchain evaluation exhibits this UTXO, categorized by Ordinals as containing sat quantity “1575000000000000,” moved to the person’s pockets after they purchased and transferred bitcoin. 

Its rarity compares to profitable the lottery, as solely 4 such “Epic Sats” exist till now. (In whole, 34 can be launched over subsequent halvings). 

The pockets handle that now incorporates the UTXO that factors to the coveted satoshi is bc1ptjcsnnycr52ccwg4mvvsczkwzvc0qydlxw6q7pcelxkx8equk3asduuz86. 

Market observers will now probably wait to see whether or not the holder retains the Epic Sat for themselves or sells it off, probably for thousands and thousands.

Sleuths can confirm the transaction by referencing Ordinals indexing instruments like Ord.io and Ordinals.com. These determine the satoshi’s quantity and place within the chain, permitting its location to be traced by way of an explorer-like Mempool.area.

Whereas controversial, these Epic Sats create profound digital shortage akin to uncommon collectables. The Binance person’s success could ignite additional curiosity and intensify the seek for the remaining two Epic Sats from 2012 and 2020.