Joel Khalili’s Post

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Crypto and Fintech Writer, WIRED

Billy Restey, a digital artist from Seattle, is part of a small group of collectors trying to unearth rare fragments of bitcoin. These fragments -- known as sats -- can be worth millions of times the face value. Various properties can make one sat more scare than another. Perhaps they were used in a transaction involving the inventor of Bitcoin, or hail from the year of its creation. These rare sats are hidden in pockets throughout the Bitcoin network. Restey roots them out by repeatedly passing bitcoin through a crypto exchange -- like depositing cash with a bank teller and withdrawing the same amount from an ATM -- which gives him a fresh pile through which to sift with every cycle. He and the other collectors have unearthed thousands rare sats this way. But the window of opportunity is closing. The number of rare sats yet to be discovered is steadily shrinking and, as large organizations cotton on, individual hunters risk getting squeezed out. https://lnkd.in/dHa9htsG

Time Is Running Out in the Hunt for Rare Bitcoin

Time Is Running Out in the Hunt for Rare Bitcoin

wired.com

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