2nd June 2023 > > Sat hunters.

tl;dr

The emergence of sat hunters, and how you may be able to benefit.

Market Snap

Market Wrap

The growing popularity of ordinals, and the emergence of sat hunters (see below) suggests to me that the large overhang of leveraged shorts on BTC miners is ripe for a hefty short squeeze.

Occasional Series – Europa League Final

This could never happen at Vicarage Road, for obvious reasons:

https://twitter.com/elchiringuitotv/status/1663956820736475147

Curious Cryptos’ Commentary – sat hunters

The launch of ordinals and BRC-20 coins has unleashed a wealth of activity. As of now there are over 10mm inscriptions:

https://www.ord.io/

If you are a little unsure about this topic despite plenty of CCC posts in the last month or more, may I suggest this guide as a supplement:

https://docs.ordinals.com/introduction.html

Every single Satoshi has its own unique identifier, one form of which is known as decimal notation. This identifier tells you the block height in which the Satoshi was mined, and the position in the block.

There are some famous events in the history of BTC. The first transfer of BTC from Satoshi Nakamoto to Hal Finney, and the first known commercial transaction in which 10,000 BTC were exchanged for a pizza, to name just two.

The Rare Satoshi Society tracks down rare satoshis by constantly buying BTC, searching for specific blocks, and selling any that are of little interest. Collectively known as sat hunters, there is a thriving marketplace for rare sats, trading of which is now more than $1bn:

https://magiceden.io/ordinals/marketplace/rss

109 satoshis from the pizza trade have been located and inscribed with a variety of cartoon faces:

And some of the prices may surprise you:

I can safely predict that soon we will see a Satoshi sold for more than 1 BTC. Which will be remarkable as each BTC comprises 100,000,000 Sats.

…

I do not yet know how to scan my BTC holdings for rare Sats, but this is a new task on my list. If I solve it, I will let you know how to scan yours.

Meanwhile, don’t sell your BTC just in case.