Yeah I was sadly very wrong. I couldn't decide whether it was good or bad that miners are not gaming the mechanisms for more game theory optimal outcomes. Probably good, but it makes things slightly less predictable when you can't count on people to be greedy.
Well, your premise was predicated on the first sat after halving being worth more. Is that true? Because I think your assumption of behavior can still be valid if your premise that one sat is worth more than another is wrong.
That's based on the logic of how ordinals work, but it's quite possible that miners aren't very familiar with that system and didn't realize the first sat would be worth more.
But can you figure out if it actually has changed hands for more than any other sat? Are there collectors who care enough? Or am I misunderstanding. You're saying it would be worth more for the same reason a dollar bill with an interesting serial number is worth more than a dollar, right? That a collector will pay a premium to own THAT sat.
I'm reading it now, and I'm shaking my head very gently.
Yeah I was sadly very wrong. I couldn't decide whether it was good or bad that miners are not gaming the mechanisms for more game theory optimal outcomes. Probably good, but it makes things slightly less predictable when you can't count on people to be greedy.
Well, your premise was predicated on the first sat after halving being worth more. Is that true? Because I think your assumption of behavior can still be valid if your premise that one sat is worth more than another is wrong.
That's based on the logic of how ordinals work, but it's quite possible that miners aren't very familiar with that system and didn't realize the first sat would be worth more.
But can you figure out if it actually has changed hands for more than any other sat? Are there collectors who care enough? Or am I misunderstanding. You're saying it would be worth more for the same reason a dollar bill with an interesting serial number is worth more than a dollar, right? That a collector will pay a premium to own THAT sat.
Yes, that's the idea. At the time there was a pretty active market in these 'collector' sats. I never traded in them myself.
Whoa yeah. I had no idea: https://www.coindesk.com/tech/2024/04/25/bitcoin-mining-pool-viabtc-sells-epic-first-post-halving-sat-for-213m