State Of The Finney III
It’s been almost four months since the burning of Genesis Finney Coins was enabled, although I think we’d all agree that it feels like much, much longer. So much has happened since that landmark day, it’s hard to believe that we’re still less than half way through the odyssey that is the distribution of CryptoFinney 1.0.
As you would have gathered by the title of this blog, today we will focus on the EOS blockchain, with a sister blogpost on WAX to follow.
Since the last instalment of this series, the price of Genesis Finney Coins has rebounded on EOS. Where I reported in the last edition of this post that the price of a single coin had softened in value from 22 EOS to 14 EOS, prices have bounced back and settled in at around the 20 EOS mark, remarkably despite the strongly rebounding EOS price.
At the time of compilation, 1,402 EOS Genesis Finney Coins had been burned, representing just over a quarter of the total supply.
In breaking down the overall state of play by asset type, some interesting patterns emerge. For each metal type, except Rhodium, 26% of the available Finney’s have been summoned to user’s wallets through the burning of coins. This is remarkably consistent until you make it down the list to Rhodium Finney’s, of which a whopping 36% have been collected by coin burners.
Similarly interesting is that 125 of a total 150 Dragon Pieces have been unearthed from behind coins, while an almost unbelievable seven of 10 total themed Finney’s have been discovered. Representing 83% and 70% of the total respective supplies, the chances of happening upon a Dragon Piece are now just 0.69%, while the odds of lucking upon a themed Finney are now just 0.08%.
Taking into account the number of Finney’s that have been claimed, burnt, and how many still remain behind Genesis Finney Coins, we can easily calculate the chances of each future burn. At the time of writing, chances by asset type are as follows:
· 42% chance of Platinum
· 31% chance of Iridium
· 20% chance of Gold
· 5% chance of Palladium
· 0.9% chance of Rhodium
Turning now to a quick look at how collectors have been upgrading their CryptoFinney’s to Bare Metals and BTCminers. While a marked slowdown has transpired since the completion of the Character airdrops, upgrades continue to take place at a steady clip with newcomers as keen as ever to add premium 1.0 assets to their inventory.
In total there are now 90 BTCminers on EOS including two Rhodium, five Palladium, and 16 Gold BTCminers, with the balance compiled of 31 and 36 Iridium and Platinum BTCminers respectively.
Of the Bare Metals created there has been a total 10 Green and 20 Red Bare Metals forged, representing 4% and 8% of all Bare Metals made, past and present. Of these 9 of the twenty Red Bare Metals were burned in order to create BTCminers, while 2 of the ten Green Bare Metals were similarly sacrificed. Of a total 66 Bare Metals remaining, 17% are Red and 12% are Green, but of course this is likely to keep evolving over time.
To conclude, there are still plenty of amazing 1.0 Finney’s yet to be claimed on the EOS blockchain. While coins are back to what I consider an expensive price point, there remains plenty of opportunities to earn EOS Genesis Finney Coins by engaging with Cryptowriter content, as well as participating in the abundance of games and competitions available to active members of our Telegram and other community channels.
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