Bitcoin

Choose Your Poison


This article is featured in Bitcoin Magazine’s “The Halving Issue” and is sponsored by HIVE Digital Technologies LTD as part of Bitcoin Magazine’s “Buy The Numbers” content series. Click here to get your Annual Bitcoin Magazine Subscription.

Calculated probabilities were calculated by Greg @learnmeabitcoin.com. Block 840,000 is not just another block in the blockchain; it triggers the Bitcoin halving where the block reward is reduced from 6.25 BTC to 3.125 BTC, cutting the amount of BTC mined each day in half. The upcoming halving will have a significant impact on the supply and demand dynamics for Bitcoin. Apart from the halving of the block reward, a new market has emerged around Ordinals, which could impact the first block of the halving. The first block of the halving contains an extremely rare “epic sat”. While opinions on Ordinals may differ, it’s undeniable that they have influenced Bitcoin in profound ways.

The article will delve into the basics of a reorg, the demand for Ordinals, how mining probabilities function, and the potential organizations capable of executing a successful reorg. Before exploring the “epic sat”, let’s establish a comprehension of what a reorg entails in Bitcoin. The blockchain creates data blocks every 10 minutes or so. Occasionally, when two miners discover blocks virtually simultaneously, a temporary fork in the blockchain occurs. This situation leads to a period of uncertainty and is resolved through the longest chain rule.

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