Is Rodarmor Rarity Index a big thing?

[GreatArkansas]

This is my first time to hear about the Rodarmor Rarity Index where every satoshi in Bitcoin is unique and they came up with this rarity tier and categorized each satoshi.

Rodarmor's rarity index initially described six rarity categories — common, uncommon, rare, epic, legendary, and mythic. - What Are Rare Sats? (The Ultimate Guide to Rare Satoshis)

Can we relate this to Bitcoin Ordinals or Runes?

Because for my basic understanding, it's kinda of you turning your satoshi into an NFT and that satoshi has a different rarity, how rare it is.

[MusaMohamed]

This is my first time to hear about the Rodarmor Rarity Index where every satoshi in Bitcoin is unique and they came up with this rarity tier and categorized each satoshi.

Can we relate this to Bitcoin Ordinals or Runes?

Because for my basic understanding, it's kinda of you turning your satoshi into an NFT and that satoshi has a different rarity, how rare it is.

It is certainly idea from Ordinals and Runes people, who want to borrow something available to make their NFTs, Inscriptions more attractive and seem to be more valuable in eyes of investors. In fact their inscriptions are useless, valueless.

Check if you have any rare satoshi
https://magiceden.io/ordinals/discover-raresats

Did they expand their idea from this?

[nutildah]

Yes, it applies to Ordinals but not Runes AFAIK....

As a numeration system dependent on a protocol that exists independently of the Bitcoin Protocol, its as real as you want it to be. Some "rare sats" attached to inscriptions have sold for multiple thousands of dollars.

Some may say its arbitrary, and you will no doubt get the usual Ordinals Deniers coming into this thread saying none of it exists at all.

Personally I don't really care about the "rareness" of sats. There's already so much "value" being created on Bitcoin outside of its original protocol that collecting "rare sats" doesn't appeal to me. But if there's a market for them, and people find them valuable, you can't stop collectors/flippers from assigning value to them.

BTW Rodarmor refers to Casey Rodarmor, who came up with the whole Ordinals idea in the first place. He even announced it on this forum but was shouted down by haters, and then left.

[thecodebear]

This idea of sats having special values comes from ordinals nonsense where people pay lots of money to own a single Sat lol. It's dumb Crypto bros infecting bitcoin with nonsense.

[Kruw]

BTW Rodarmor refers to Casey Rodarmor, who came up with the whole Ordinals idea in the first place. He even announced it on this forum but was shouted down by haters, and then left.

Rodarmor wasn't "shouted down by haters", he was praised for his creativity and effort: https://bitcointalk.org/index.php?topic=5430668

Thank you nutildah! Getting such nice kudos on Bitcoin Talk is honestly a sweet milestone. These threads are feeling pretty legendary to me, especially the one I necro-posted to after a 10 year haitus.

[odolvlobo]

This is my first time to hear about the Rodarmor Rarity Index where every satoshi in Bitcoin is unique and they came up with this rarity tier and categorized each satoshi.

Rodarmor's rarity index initially described six rarity categories — common, uncommon, rare, epic, legendary, and mythic. - What Are Rare Sats? (The Ultimate Guide to Rare Satoshis)

Can we relate this to Bitcoin Ordinals or Runes?
Because for my basic understanding, it's kinda of you turning your satoshi into an NFT and that satoshi has a different rarity, how rare it is.

Rodarmor is the inventor of Ordinals.

Ordinals is a protocol for enumerating satoshis and maintaining that enumeration while accounting for transactions and fee payment. The enumeration is arbitrary. Anyone can come up with an enumeration. However, Ordinals will always dominate because it was first and it works well.

Enumerating the satoshis makes each one distinguishable from all of the others. Thus, using the Ordinals protocol, a satoshi can be treated as a non-fungible token (NFT).

With Ordinals, all satoshis are equally rare -- there is only one of each. However, they can be classified according to Rodarmor' classification system, as well as others, in order to introduce ways to establish rarity. These classifications are arbitrary. It's up to you to consider whether some satoshis are more valuable than others according to the classifications you subscribe to.

In my opinion, Ordinals is harmless as long as there is no significant number of people who take it seriously. Otherwise, the fungibility of Bitcoin could become an issue.


Rodarmor also developed a related protocol called Inscriptions that associates data (such as text or an image) embedded in the block chain with an Ordinals satoshi.

I am not as familiar with Runes. If I understand it correctly, it is not related to Ordinals. Instead, it is a token protocol that stores data in Bitcoin transactions via OP_RETURN. It might be interesting to compare it to CounterParty and Omni.

[nutildah]

Rodarmor wasn't "shouted down by haters", he was praised for his creativity and effort: https://bitcointalk.org/index.php?topic=5430668

OK I got the order wrong. He left and was then shouted down by haters. There's at least half a dozen anti-ordinals thread out there. The idea caused some people here to have real conniptions, meltdowns, and spastic crying fits.

I am not as familiar with Runes. If I understand it correctly, it is not related to Ordinals. Instead, it is a token protocol that stores data in Bitcoin transactions via OP_RETURN. It might be interesting to compare it to CounterParty and Omni.

Runes is pretty much Counterparty - a bitcoin-based system for creation & transfer of fungible tokens - but unlike Counterparty, all image & other descriptive data is stored on the BTC blockchain.

[Grazinoli]

This is my first time to hear about the Rodarmor Rarity Index where every satoshi in Bitcoin is unique and they came up with this rarity tier and categorized each satoshi.

Rodarmor's rarity index initially described six rarity categories — common, uncommon, rare, epic, legendary, and mythic. - What Are Rare Sats? (The Ultimate Guide to Rare Satoshis)

Can we relate this to Bitcoin Ordinals or Runes?

Because for my basic understanding, it's kinda of you turning your satoshi into an NFT and that satoshi has a different rarity, how rare it is.

https://www.influencive.com/wp-content/uploads/2023/07/index-1000x424.jpg

rare sats are more related to ordinals than runes but they all have a connection. https://blog.ordinalhub.com/what-are-common-uncommon-and-rare-sats/

[BlackHatCoiner]

In my opinion, Ordinals is harmless as long as there is no significant number of people who take it seriously. Otherwise, the fungibility of Bitcoin could become an issue.

If by "fungibility" you mean the property that each unit is interchangeable with another, then I would disagree. Unless you believe that "taint" has compromised fungibility, I don't think it's accurate to say so. While "taint" has certainly affected the space by misleading people into believing that some coins might be "worth less", reality proves otherwise. You can trade any bitcoin for any other bitcoin, making it fungible. The same principle applies if more people start taking Ordinals seriously; as long as my coins can be exchanged for equal value, it doesn't matter what others do.

[darkangel11]

I've never checked this and never cared how rare my satoshis are. The only thing that I heard about is the rarity of unused coins. Apparently people are willing to pay premium for coins that were just minted and never used for any type of transactions. That said I've never valued coins based on their position in a block. That's strange, I don't think many people care about this. If you do, you may one day end up overvaluing your stash and thinking it's worth more than anyone is ever going to pay for it, pretty much like the majority of NFT holders.

[OcTradism]

I've never checked this and never cared how rare my satoshis are. The only thing that I heard about is the rarity of unused coins. Apparently people are willing to pay premium for coins that were just minted and never used for any type of transactions.

All satoshis are the same in value and people especially scammers are planning to make some satoshis are more scarce and valuable than other satoshis.

They are altcoin developers who want to create these crazy ideas and convince people that their ideas are cool, and some satoshis are actually more valuable than others. In fact, they are the same, 1 satoshi is 1 satoshi, it's not matter when it was mined and firstly appeared, in 2009 or in 2024.

Mint is for altcoins, tokens, and it is not accurate to use for bitcoins, sastoshis.

[kryptqnick]

I mean, it's interesting to see it once, as a nice colorful table with data. I suppose the information on rarity is correct. But rarity doesn't change the value of something on its own, especially since sats are so tiny. So the value is mainly sentimental.
Bitcoin is supposed to be fungible, with any equal parts of it having the same cost at the same time. That isn't always the case because some might want to buy freshly mined BTC at a higher price, or buy BTC from a notable operation on an auction. So if the index was calculated for BTC rather than sats, I'm sure those rare cases would find their audience willing to pay more.
But overall, that goes against what Bitcoin stands for and shouldn't be encouraged, in my opinion.

[odolvlobo]

The same principle applies if more people start taking Ordinals seriously; as long as my coins can be exchanged for equal value, it doesn't matter what others do.

If Ordinals is taken seriously, then you may not be able to exchange your coins for their nominal value. And, it does matter what others think or do. The value of the satoshis you have are directly and indirectly affected by what others think about them. Try to buy a U.S. 1943 steel penny for its nominal value of $0.01. You can't because there is a small number of people in the world who would pay $0.20 for it.

[nakamura12]

If people think that these rare satoshis are valuable then the satoshi in the transaction fee that is used to transfer this valuable satoshi should also be rare. I think they only want to make more money by selling these rare satoshi when the value of satoshi depends on how much money that a person is willing to pay to get it. I agree with OcTradism that 1 satoshi is 1 satoshi and the only thing it differs is that the amount of money that is willing to be spent just to get that satoshi which comes back to my explanation about they only want to earn money by introducing new trends or ideas like rare satoshi not that I hate them.

[BlackHatCoiner]

If Ordinals is taken seriously

It all comes down to what that means. The vast majority of centralized exchanges enforce blacklists based on inaccurate blockchain analysis, and spread the notion that some coins are less valuable. Yet, it's completely possible to trade them for an equal value in a decentralized exchange like Bisq, or even in centralized swap services for altcoins.

Try to buy a U.S. 1943 steel penny for its nominal value of $0.01.

The important difference between Bitcoin and the 1943 steel penny is that a Bitcoin buyer does not care if their Bitcoin is a "rare satoshi" or not, whereas a 1943 steel penny buyer is a collector. The Bitcoin seller might charge a premium if they know that Ordinal buyers are willing to pay for it, but a Bitcoin buyer will just want the Bitcoin, so they'll simply go buy it elsewhere. Or to put it this way: Nobody treats a 1943 steel penny as currency.

[The Sceptical Chymist]

This idea of sats having special values comes from ordinals nonsense where people pay lots of money to own a single Sat lol. It's dumb Crypto bros infecting bitcoin with nonsense.

I was never quite sure what the definition of "crypto bros" was, but I absolutely agree with you; whatever this is, it seems to be like shoehorning in some bizarre rarity measure where there really ought not be one.  I doubt many people here who own bitcoin have given any thought whatsoever as to how "rare" any of their coins are.

Hopefully this will not catch on.

Try to buy a U.S. 1943 steel penny for its nominal value of $0.01.

Not sure if the steel penny is a great example (I thought they weren't worth much more than face value), but I get your point and BlackHatCoiner's as well.  This crap just makes me groan with displeasure.

[d5000]

Thought experiment about "rare sats":

- Look into your wallet.
- Do some ord-inspired search, retrieving the position of your sats in the block they were generated, and the position of the block itself in the halving cycle.
- Analyze if there is any good-looking number or formula you could apply to one of your sats or blocks.
- Post your "finding" in all Ordinals-related forums and try to sell it as "the last hot trend".

Some examples:

In addition to the "rare sats" (first sat in block) and "black rare sats" (last sat in block), we could talk about a "white/yellow/blue/red" rare sat, which is the one exactly situated in the center of the block. This sat could even be more rare than the first or last sat of the block, because some blocks could contain an even number of satoshis, while only if there is an odd number of satoshis in a block there's really a "center sat".

There could also be satoshis sitting at the "golden ratio" between two halving sats, or multiply the first halving's first sat with Pi or some other number math nerds love, or where the sat number is equivalent of its difficulty.

We could do the same with blocks. You could try to sell sats of the "center" block between two halvings for example, but there may be other neat formulas you could apply.

tl;dr: I think there are almost infinite ways to find some "rarity" in your sats. So the whole game eventually will become pointless, as every sat is probably "rare" in some aspect. Thus I predict that the market of these sats is very likely not exactly bullish.