Thread by @Ord_Riot_Grrls

Amid all the inscription buzz, we still feel the majority of the Twitterati, even big influencers, use the terms ordinals and inscriptions interchangeably. So here we make an attempt to explain when to use what.

#OrdinalsNFTs #ordinalstechnology #Ordinals2023 #Bitcoin

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One of the main concepts to understand here is that each bitcoin is divisible by 8 decimal places, and the smallest unit of bitcoin (1 $BTC divided by 100,000,000) is called a Satoshi. Each Satoshi, in short, "Sat", can be inscribed with custom content such as images, audio..

, video etc which makes them different from all the other sats. The act of inscribing content on a sat is called inscription. When you inscribe, it's given a number. This number tells you that your inscription is the Nth inscription ever created. No one can ..

take away that number from you unless you sell.

The earliest available inscription is selling on @ordswap - Inscription 526
ordinals.com/inscription/e8…

There is a lot of value attributed to the lower Inscription numbers as the speculation has already sent them to the moon...

So, we understand what the Inscriptions are. Inscription in simple terms is a way to inscribe random content on a sat, but ...

which sat? any sat? That's where the ordinals theory comes into play...

In simple terms, while respecting mathematics, #ordinals are the way to order objects. We assign numbers to each Sat in the order they were created. So, the sats in the first ever bitcoin were numbered from 0 to 99,999,999. ..

Let's go back in history and find one of the earliest blocks. Let's take this block for example,

blockchain.com/explorer/block…

the second ever block of #bitcoin was mined on Jan 8th, 2009. If you don't know the first-ever transaction in the block is known as the coinbase txn ..

.. and that txn is to reward the miner for mining the block. so, this block issued 50 $BTC for as a mining reward to the miner (yes, after successive halvings it's much less but at first miner rewards were 50 $BTC) 😉

.. Since each $BTC has 100 million sats, so this block alone created new 50 * 100 million = 5 billion sats. If you have an inscription that was done on any of these 5 billion sats (doesn't matter what the inscription number is), ....

you are sitting on a speculative value that's beyond the comprehension of average joe and jane. The question is how to check what's the ordinal number of your sat where your inscription is? the answer is #ordinals explorer conveniently shows you that.

So, next time someone talks about #ordinals or #Inscriptions you know what that means.
If you like this. Consider sharing this pot with your network and following us for more of such content. We are one of the fastest organically growing #ordinals collections.