Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: bitmover on May 02, 2024, 10:30:15 PM
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https://bitcoinmagazine.com/business/second-of-only-four-bitcoin-epic-sats-found-by-a-binance-user
A Binance user withdrew one of just four extremely rare Bitcoin "Epic Sats" from 2016, representing a potential multi-million dollar oversight by the exchange.
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The term "Epic Sat" refers to the first satoshi of each Bitcoin halving era, which occurs about every four years. Recently, the first Epic Sat from the 2024 halving sold for over $2 million at auction, sparking intrigue around these rare units.
In this case, the Binance user withdrew a transaction containing the Epic Sat from the 420,000th Bitcoin block in 2016. Binance failed to identify and retain the UTXO that contained the valuable satoshi for itself, representing a potential multi-million dollar oversight.
Want to know if you have a rare sat in your wallet?
Take a look
https://magiceden.io/ordinals/discover-raresats
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Funny thing about using Binance is that I do not have a wallet to withdraw to even if I wanted to lol. I use binance to deposit bitcoin, and I then turn that into fiat and withdraw to my bank account if I want cash, that's it. Its cash in and cash out, while being bitcoin in the middle, so there is no scenario where I end up with any bitcoin moving out of binance, and still goes towards me. I could very well send someone bitcoin here and there, which is still quite rare because I don't do that commonly, but certainly to any address I own personally because at this point I stopped using any wallets at all.
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This is another one of the many amazing things with Bitcoin and this can go down into its history as well. As what Bitcoin Magazine (https://twitter.com/BitcoinMagazine/status/1786017704039633236) puts it: "A $10 transaction worth 33 $BTC. Jackpot." Apparently, this is a successful result of an operation orchestrated by experts and they got the prize they look for. Since this is the second of the four that can be found in Binance, am sure some can be looking for the last two rare sats as this can be sold for millions but I think Binance is already aware of this development and would likely keep them for themselves.
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It's second time I'm hearing about rate Satoshi. I have never got one yet and I believe that those rare Satoshi are for the few lucky ones.
I use binance to deposit bitcoin, and I then turn that into fiat and withdraw to my bank account if I want cash, that's it.
Not only you but almost anyone who gets their weekly earnings to the exchange's wallet convert it into fiat and cash it out. I also use Binance for the same purpose most of the time, but being a trader I also use it for trading purpose.
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It's second time I'm hearing about rate Satoshi. I have never got one yet and I believe that those rare Satoshi are for the few lucky ones.
I use binance to deposit bitcoin, and I then turn that into fiat and withdraw to my bank account if I want cash, that's it.
Not only you but almost anyone who gets their weekly earnings to the exchange's wallet convert it into fiat and cash it out. I also use Binance for the same purpose most of the time, but being a trader I also use it for trading purpose.
I do remember one of the old days on which i have that first bitcoin wallet back in 2016 but it was on a local wallet platform. This is my first time on hearing out that Rare stats.
IF ever there's some additional value to this then pretty sure those people would really be checking out their old wallets in the past. :D
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Funny thing about using Binance is that I do not have a wallet to withdraw to even if I wanted to lol. I use binance to deposit bitcoin, and I then turn that into fiat and withdraw to my bank account if I want cash, that's it. Its cash in and cash out, while being bitcoin in the middle, so there is no scenario where I end up with any bitcoin moving out of binance, and still goes towards me. I could very well send someone bitcoin here and there, which is still quite rare because I don't do that commonly, but certainly to any address I own personally because at this point I stopped using any wallets at all.
Yeah, I'm in the same boat as you: I also use Binance CEX to buy and sell, and it's clear that I don't have much chance of owning this Epic Satoshi. If I did, it would probably belong to Binance too ^^ Anyway, this could also be a narrative related to Inscription/BRC-20/NFT on the Bitcoin blockchain. Their future depends a lot on halving and new beliefs in the market.
Going back to Bitcoin's payment purpose: all BTC are considered identical, which means that each satoshi is also considered identical. What's interesting is that we're now starting to care about and give a special value to a satoshi at the halving block. I personally think it's ridiculous in this market.
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And I've never really heard about this one, rare sat or epic sat (what ever it's called) this is my first time of coming across such a term.
Amazing how many of us have been in crypto since years back (since 2016 in my case) and yet, still sometimes, come across terms that make us feel like we just started crypto yesterday.
Congratulations to that user, who ever he may be, God indeed have many ways He chooses to change peoples lives when ever He choose, I don't hold much bitcoin at the moment, do I doubt there will be anything like an epic or rare sat in the amount that I hold, but I want to know if there is a way to search and know if any of my wallets once held this stuff, and I sent it off without my knowledge? I will be damned if this be true for any of my several used bitcoin wallets 😬
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Oh shit. I never imagined something like that. Who knew that a single sat or a couple of satoshi could be worth that much money? Aren't we making it too precious compared to how is the real value of a single sat? I am afraid that with the recent development of the Bitcoin chain, it will be full of dog and monkey images, and people will buy these things for a lot of money. These hypes will eventually end, and some people will get scammed. The transaction fees on the ETH chain have been ridiculous, which is why the meme is below. We will see a similar meme for Bitcoin in the future.
(https://talkimg.com/images/2024/05/04/rjzRG.jpeg)
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It's second time I'm hearing about rate Satoshi. I have never got one yet and I believe that those rare Satoshi are for the few lucky ones.
There are many rare satoshis . You probably have many of then. However, they aren't worth anything usually.
I have some from the 10.000 btc pizza. But they are worthless for now..