Bitcoin Ordinals: A Closer Look at Satributes
Not So Ordinally After All:
An exploration of satributes with a focus on Block 9 sats and their potential for the future of the OnChainMonkey Genesis collection on Bitcoin Ordinals.
By Heavy D @heavysided with technical oversight from Rabbi @rabbigains.
Bitcoin's ascendancy into the mainstream has given birth to various sub-cultures and interests within its expansive universe. With the arrival of the Ordinals Protocol in late 2022, the concept of "satributes" has emerged, offering a unique way to recognize and celebrate the smallest units of Bitcoin, known as satoshis or "sats."
These unique sats have histories and tales, with the Block 9 sats standing tall due to their distinctive significance. This article delves deep into the allure of Block 9 sats, exploring how they could be relevant to the future of the OnChainMonkey (OCM) Genesis Collection arriving on Bitcoin. But, before we get to that, let’s start with what Satributes actually are.
Satributes: Categorizing Bitcoin's Unique Units
Delving into the intriguing concept of satributes and a unique rarity hierarchy, Satributes identify the special attributes of individual satoshis, enhancing their value and rarity.
Within the Bitcoin network, various periodic events such as block production, difficulty adjustments, halvings, and cycles all contribute to this rarity system.
Each event, such as the mining of blocks every 10 minutes, the bi-weekly difficulty adjustments, and the roughly quadrennial halvings, attaches a distinct level of rarity to the first satoshi involved in that event, from "uncommon" to "legendary". Moreover, there is a singular "mythic" satoshi - the very first from the genesis block, housed in Satoshi's wallet.
Alongside this rarity system, some satoshis are classified as "exotics" due to their unique attributes or historical significance, such as those involved in major Bitcoin transactions like the famous pizza purchase or those from Block 78, mined by Hal Finney.
As the significance of satributes and rarity grows, there's an increasing trend in "sat hunting," where enthusiasts actively search for these rare sats, often by transacting BTC through exchanges.
Satributes can be understood more clearly through the Rodamor Rarity Scale. Published in the Ordinals Handbook in the early days of the development of the protocol, it classifies sats based on their inherent rarity. They range from:
● Uncommon: The inaugural sat of each block.
● Rare: First sat of each difficulty adjustment epoch.
● Epic: Representing the first sat of each halving period.
● Vintage: Sats originating from the earliest 1,000 blocks.
Further, we have the Exotic Sats, those with special historical or novelty significance. Notable mentions include:
● Nakamoto: Sats directly mined by Satoshi Nakamoto.
● First Transaction: Sats from the watershed 10 BTC transaction between Satoshi Nakamoto and Hal Finney.
● Palindrome: Numeric symmetrical sats.
● Pizza: Sats from the 10,000 BTC used to purchase two Papa John's pizzas on May 22, 2010.
● Block 78: Sats mined by Hal Finney in block 78 which was the first block mined by someone other than Satoshi
● Block 9: Sats mined by Satoshi Nakamoto on January 11, 2009. They hold the distinction of being the earliest sats in active circulation.
Armed with all that info, let’s take a close look at the exclusive Block 9 sats.
Block 9: No Ordinally sats.
● Historical Significance: Block 9 sats are the oldest sats in circulation, having been mined five days after the Bitcoin Genesis Block.
● Direct Connection to Satoshi Nakamoto: These sats were mined by the creator of Bitcoin, Satoshi Nakamoto, meaning anyone holding an inscription on a Block 9 sat possesses a sat once owned by Satoshi.
● Historic Transaction: Block 9 had 50 Bitcoin in it. 10 of those bitcoin were part of the first-ever peer-to-peer Bitcoin transaction between Satoshi Nakamoto and renowned cryptographer, Hal Finney.
● Prestige and Rarity: Block 9 sats could be considered akin to diamonds in the realm of precious gems. Their prestige is not just due to their age but also because they're seen as a premium home for inscriptions, especially for high-end collections.
● Ownership Legacy: By holding an inscription on a Block 9 sat in your wallet, you are holding a sat that was once owned by Satoshi himself.
In essence, Block 9 sats encapsulate a blend of historical importance, scarcity, and utility, making them a treasured component in the Bitcoin ecosystem.
Why OCM Genesis and Block 9 Sats are (potentially) a Perfect Match:
The alignment of OCM Genesis with Block 9 sats would transcend mere strategy; it would be a symphony of legacy and ambition. Here's why it would make sense:
● Historical Continuity: Combining OCM Genesis, a historically significant collection itself, with Block 9's undeniable legacy paints a rich narrative of both OCM and Bitcoin's journey.
● Value Amplification: Just as precious and rare metals and materials elevate luxury goods like watches and cars, inscribing OCM on Block 9 sats augments both their historical and financial value.
● Distinctive Significance: OCM Genesis has always tried to push the boundaries of what's possible. A 10k collection on Block 9, with potentially sequential sats accentuates this aspiration and would make it unparalleled in the NFT space.
● Legacy Creation: As Block 9 sats are limited, each new inscription magnifies the value and significance of existing ones.
In essence, the fusion of OCM Genesis with Block 9 sats is somewhat poetic, reflecting Bitcoin's trailblazing past all while driving towards a promising future. If OnChainMonkey wants to leave an indelible footprint in history, the legendary Block 9 offers the perfect canvas.
