BITPLOT INTRODUCTION
Protocols and Economic Models for Bitizens of the Bitverse
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Protocols and Economic Models for Bitizens of the Bitverse
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All that we do on Bitcoin now is made possible by Ordinals. Thank you, Casey!
Please review the Ordinals Handbook -
There exists a namespace.
.PLOT
There exists a token.
$PLOT
BITPLOT is a unique project that has many facets and primarily involves BRC-20 $PLOT tokens to specific Bitcoin blocks using either the .PLOT or .BITMAP namespace. As owners of blocks, the next obvious step is to apply currencies and economic models to your block space that could be a virtual world, a game, a community, an art exhibit/collection or anything you might imagine.
$PLOT can be a base currency for the Bitverse formed by Bitmap Theory. You are free to brand and attach $PLOT to both .plot and .bitmap Bitverse layers (namespaces).
There are limits to how many $PLOT tokens can be associated with a block using a simple formula involving block data. This is to ensure that the tokens adhere to a block-related limit of at least 1000 tokens but are also capped reasonably. More on this below.
Some $PLOT tokens can resemble unique, rare, vintage sats (satoshis, the atomic unit of a bitcoin) if they are minted/transferred to historically significant blocks. Most of us are not sat hunters panning for the most valuable sats. In fact, the feasibility of that hunt is more challenging every day. Now the notion of these valuable sats has been re-gamified for a broader community, for fun and perhaps profit (NFA). BITPLOT can be an intriguing way to try to claim "valuable" blocks and mint new tokens on them. The ethos of the sat hunters is absorbed into this game-like project.
The number of $PLOT tokens that can be associated with a block is calculated using this simple formula:
This ensures that each block can be associated with at least 1000 $PLOT tokens, but the exact number will vary depending on the block's characteristics. The arbitrary but Bitcoin relavant number 21 is added as a multiplier.
Here is an example of a recent block.
Block 795,801
Number of transactions: 1,849
Amount of Bitcoin mined: 6.25 BTC
Amount of Bitcoin transacted: 93.833163 BTC
So, Block 795,801 could be associated with approximately 40,930 $PLOT tokens.
Here is an early block and as with all early blocks, this includes only the coinbase transaction
Block 9:
Number of transactions: 1
Amount of Bitcoin mined: 50 BTC
Amount of Bitcoin transacted: 0 BTC
So, Block 9 could be associated with a max of 1,071 $PLOT tokens.
MINT
To mint $PLOT tokens and immediately associate them with a block, use the following JSON which includes the "block" key:
In this command, the "block" key specifies the block number and namespace/layer with which you want to associate the newly minted $PLOT tokens. Both .plot and .bitmap are recognized namespaces also known as layers in the Bitverse.
If you want to mint $PLOT tokens but reserve them and add to a block at a later time, use the standard JSON command without the block key:
TRANSFER
To associate reserved $PLOT tokens to a block post-mint, use this JSON with the BRC-20transfer operation plus the block key in same manner as the above "mint" example.
This calculator was created for convenience to get the total max supply of $PLOT tokens for specific blocks.
Explore more about the Bitplot Project.
The $PLOT token was fully and fairly minted out on July 3rd 2023. Since the mint is over, to add $PLOT to blocks on either .PLOT or .BITMAP you can use the BRC-20 transfer op. To get $PLOT, try the .
