What to do With the Epic Satis Valued in Millions? The Bitcoin Community Decides

DYZR...HHLr
23 Apr 2024
33


After having become the mining pool that managed to extract block 840,000 that activated the fourth Bitcoin halving, ViaBTC now consults the community to decide what to do with the first satoshi mined at that time. 

In a message published on occurred last April 19. “Calling all crypto creatives!” writes the ViaBTC team in their post. How do you think we should handle it? Share your ideas with us! And although the team behind the pool does not explain whether it opened any private communication channel to present the ideas, the publication of the pool attracted responses from some followers.

The first individual satoshi drawn at the halving is known as an "epic sat." This, depending on its rarity. A name that arose from the Theory of Ordinals proposed by Casey Rodarmor.
The epic satin, now a prized collector's item, is stored in the coffers of the ViaBTC pool and can be traded on NFT markets, where it has the potential to be sold for millions of dollars. Although, until now, no specific figure has been defined

That is why, taking into account its potential value, some of the published answers suggest holding a raffle or selling it and distributing the profits among the miners in the pool. This last idea being the same one that the Foundry USA team had thought of shortly before the halving, c they promised to distribute the profits among the members of their group. 
However, in the responses to ViaBTC's tweet there were also  those who questioned the existence of the epic sat, asking that no promises be made with something that "cannot do anything other than be a sat."

An approach that follows the line of thought presented by bitcoiners such as Luke Dashjr , who is part of a debate on social networks where the classification of sats is criticized based on their exceptionality.

The debate is sustained by those who claim that the bitcoin code does not distinguish between individual satoshis, which - in the opinion of the defenders of this position - would make it impossible to order or number them natively on the network, in the same way that "it cannot be number and arrange the individual dollars on a five-dollar bill. 

This approach rejects the proposal presented in 2022 by Rodarmor, which has gained popularity in this halving. According to it, a particular classification is assigned to the satoshis of cyclical events that occur in the Bitcoin accounting (blockchain). Among these events, difficulty adjustments and halvings stand out. . 

This is how, due to the rarity of the sat extracted in this fourth event of halving the mining reward, and its high value,  a competition was unleashed among the miners. in the days prior to the halving. All this, while the community was waiting to find out which pool would be the one that would keep the treasure of the Bitcoin ecosystem. 

Amidst the controversy and debate, it is clear that the first satoshi mined after the halving has captured the attention of the Bitcoin community. The consultation launched by ViaBTC on what to do with this “epic sat” reflects the importance that has been given to this historic event.
Whether selling it, distributing the profits among miners or keeping it as a collector's item, the truth is that this satoshi has become a symbol of innovation and creativity for a part of the community that revolves around the pioneering digital currency.

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