Post
Topic
Board Bitcoin Discussion
Re: Rare Sats and Rare Sats trading on Magisat
by
quary.sats
on 27/09/2024, 12:58:12 UTC
Quote
The flow of satoshis from inputs to outputs in Bitcoin transactions is done First-In-First-Out. (sending a UTXO containing 1,000,000sats to two addresses: 500,000 to the first and 490,000 to the second, will send the first 500,000 to the first address, 490,000 to the second, and the rest of 10,000 sats to the miner's address adding the block)
This is an Ordinal theory not a Bitcoin protocol

Bitcoin are fungible so all Sats are equal.

This is highly likely a passing Fad so I doubt it has a future not to mention rarity is speculative and hasn't been proper stated so I doubt it would be liquid.
Not to mention It was increase the number of Bitcoin scams since individuals that know little and have the money could be deceived to buy a "normal" as rare.

Yes it's fun hunting and seeing something corresponding with history, but if miners focus on rare Sat's what do you think would happen to the security of Bitcoin in the long run?

Well not a hater of development but I love development that complements not contradicts.




I did mention that Bitcoin is intended to be fungible. Yes, this is based on Ordinals Theory. I did post some arguments for which i think the consensus for sat identification and transferring rules is a strong one.

I believe out of all “assets” born from ordinals theory this class is by far the best and with long term potential.
If by network security issues you are referring to the incentive to reorder blocks, i think those are already out there with some other use cases. Bitcoin is not that fragile. People thought that the network will have reordering of tens of blocks when the epic sat minted (which sold for 2.1m$), but in fact there wasn’t any reordering.