Author: damian at willtech.com.au 2022-02-23 07:24:52
Published on: 2022-02-23T07:24:52+00:00
In a recent discussion, it was mentioned that while numbering each satoshi created might make an interesting research topic, it would not be sensible to adopt as it could only cause trouble. This is because even if the system of ordinals was used privately, no one can tell which ones are any particular ones. Furthermore, when some Bitcoin is transferred to another UTXO, it becomes difficult to determine which ordinal numbers to assign to the output satoshis. This system would become expensive eventually to cope with approximately 2,100,000,000,000,000 ordinals. Newly mined satoshis are sequentially numbered in the order in which they are mined, and these numbers are called "ordinal numbers" or "ordinals". When satoshis are spent in a transaction, the input satoshi ordinal numbers are assigned to output satoshis using a simple first-in-first-out algorithm. However, since an amount of Bitcoin is a bag of satoshis and no one can tell which ones are any particular ones, it is impossible to prove a particular satoshi. Therefore, if someone receives some Bitcoin, they cannot know if some or any of those have been at any point in the past been stolen.
Updated on: 2023-06-15T17:11:34.744672+00:00