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Buying Rare Sats (Block 9 and Pizza) on Magic Eden Bitcoin Marketplace
The smallest available unit of Bitcoin is called a Satoshi. One Bitcoin is divisible into 100,000,000 satoshis (Sats) and not all are equal in value thanks to the Ordinals Protocol. It’s more desirable to inscribe art and other data onto rare sats as they inherently increase demand for the final product end-users see in Bitcoin Ordinals. Rare Sats contain special attributes such as “Block 9”, “Pizza”, or “Palindrome” that make them unique and special in the eyes of many collectors. In this tutorial, I’ll walk you through the steps to buying rare sats on the Magic Eden Bitcoin NFT marketplace. Also, make sure to watch our video at the bottom where we show an actual example buying Block 9 and Pizza sats.
How to Buy Rare Sats on the Magic Eden Bitcoin Marketplace
Start by connecting your Xverse wallet to Magic Eden and click on “Rare Sats“. You’ll see there are different types of attributes a.k.a. “Satributes” available to purchase. See below for detailed explanation of each Satribute. In this example we’re looking specifically for Block 9 and Pizza satoshis. Therefore, select the “Block 9” satribute on the left side of the screen and filter price low to high.
The next step is to click the magnifying glass icon next to the rare sats that match your desired profile. The UTXO Details (Unspent Transaction Outputs) will pop-open. The first things I like to look at are; “Total sats” and “Sat ranges”. In this example, the total number of sats are 564 with 2 sat ranges.
Click on the TXID (transaction ID) link to see the output details of the 2 sat ranges. Sticking with our example, the rare sats we purchase contain 1 sat from 2009 with the following satributes; Block 9, First Transaction, Nakamoto, and Vintage. In addition, 545 sats from the year 2010 contain the Pizza satribute.
Once you’ve decided on the specific rare sat you’d like to buy, the next step is to select the Bitcoin Network Fee. On Magic Eden, your options are always Low, Medium, or High which determine the speed in which the transaction will go through. The fees vary depending on how busy the Bitcoin Mempool is at the time of the purchase. Low is almost always the option I choose. Final steps are to click “Buy Now” which will open your Xverse wallet, review the transaction and click “Confirm”.
You’ll see, “Your transaction was successfully submitted to the mempool” message, click “Check status of transaction”. Mempool.space will open where you’ll monitor the progress of the rare sats purchase. When it changes from “Unconfirmed” to green “Confirmed” you’ll know your rare sats buy is complete.
Next, check your Xverse wallet to see if the Bitcoin was taken out. Click on BTC and your Transaction History will show that you received the rare sats. Finally, go back to Magic Eden, click Return to Collection, My Items, Rare Sats and you’ll see the rare sats you purchased in your Ordinals Wallet.
Watch our video below to see an actual example of Buying Rare Sats on Magic Eden Bitcoin…
“Satributes” Rare Sats Attributes on Magic Eden Marketplace Explained
Magic Eden Bitcoin users are able to buy and sell rare sats with different Satributes. What are the types of rare sats and what do the different Satributes mean? Let’s take a closer look at each Satribute and what makes them special.
Uncommon: The first sat of each block.
Rare: The first sat of each difficulty adjustment period.
Epic: The first sat of each halving epoch.
Legendary: The first sat of each cycle.
Black Uncommon: The last sat of each block.
Black Rare: The last sat of each difficulty adjustment period.
Black Epic: The last sat of each halving epoch.
Black Legendary: The last sat of each cycle.
Palindrome: Sat whose number reads the same forward or backward.
Watch our video below to see an example of buying 3-Digit Palindrome Rare Sats on Magic Eden Bitcoin Marketplace…
Vintage: Satoshi mined in the first 1,000 blocks.
Nakamoto: Sat mined by Satoshi Nakamoto.
Block 9: Sats mined in Block 9 which are the oldest sats in circulation.
Block 78: Sats mined by Hal Finney in Block 78 which was the first block mined by someone other than Satoshi.
First Transaction: Sat from the 10 Bitcoins sent from Satoshi Nakamoto to Hal Finney in the first Bitcoin transaction on 1/12/2009.
Pizza: Sat from the 10,000 Bitcoins used to buy 2 Papa John’s pizzas on 5/22/2010. Present day value of that pizza transaction (as of writing this on 11/23/2023) would be $371,608,800 USD.
