News - Halving Satoshi sold for more than US$2 million

By Mike Hesp

Halving Satoshi sold for more than US$2 million

Bitcoin (BTC)

1 Satoshi = 1 Satoshi: This rule probably does not apply to the miner ViaBTC. The first Halving Satoshi was sold at a profit through an auction.

The Bitcoin miner ViaBTC found the fourth halving block on April 20, collecting the first block grant of 3.125 BTC. The "Epic Satoshi" has now been sold as ordinal in an auction.

The ordinals protocol allows individual Satoshis to be sent to which non-financial data such as images are assigned. In a line summary of the ordinals protocol, all satoshis (sats) are sorted according to their rarity.

ViaBTC sold just this Satoshi - Sat 1,968,750,000,000,000 - via the exchange CoinEx. The starting bid: one BTC. The final sale price was on April 25, around 33.3 BTC. That's 2.1 million U.S. dollars.

Bitcoin maximalists have criticized the auction as a Ponzi scheme. Moreover, classifying individual Satoshis based on their rarity would lead to fungibility problems. After all, an epic Satoshi would be unequal to other Satoshis.

In any case, it will be Ordinals protocol - just like the Runes network which is implemented with the Halving - considered controversial in the Bitcoin scene. Bitcoin OG Adam Back recently voiced his concerns about "Shitcoins on Bitcoin."

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