To participate in the auction, users must maintain a sufficient balance of bitcoins in their CoinEx spot account. If a higher bid is placed by another participant, the system will automatically deduct the bitcoins from the previous bidder and return them, enabling repeat bids throughout the auction.
CoinEx ensures transparency by notifying all participants of the auction’s outcome through an official notice on their website as well as via email. It’s worth noting that the “epic” Satoshi being auctioned is the first Satoshi ever received after the fourth halving of Bitcoin, which occurred on April 20, 2024.
The block containing this unique Satoshi was mined by the ViaBTC mining pool, a member of the ViaBTC Group ecosystem that includes CoinEx. Currently, the highest bid for the “epic” Satoshi stands at 2.5 BTC, reflecting the significant value placed on this prized piece of digital currency.
Recently, Adam Swick, the Director of Development at Marathon Digital, expressed the belief that Bitcoin miners are actively searching for the first block following the halving, as it may contain the highly valuable “epic” Satoshi. Swick estimates that it could potentially be worth millions of dollars.