The State Of The CryptoFinney II
It’s been almost eight weeks since the burning of Shift Gold coins was enabled, and a lot has happened in these two short months, which to me feels more like two years.
While this phenomena is likely due to the relative difference in the volume of burned coins between EOS and Wax, it can also be considered in the context of simple supply and demand economics - there has been 2034 coins burned on Wax and only 1119 on EOS, meaning there is a greater remaining supply on EOS (as well as less demand due to the relative active user bases where EOS severely lags WAX).
CryptoFinney on EOS
On EOS a total of 1119 coins have been burned. That’s a rate of approximately 50 coins a week since the last edition of The State of CryptoFinney, with 22% of the total supply burned versus 19% when the previous instalment was published.
Personally I was surprised by this and was expecting there would have been more burned on EOS.
There have now been 196 Bare Metal Finney’s created, up from 147 a month ago. Of those forged, only 58 survive with the rest sacrificed in pursuit of the elusive BTCminer.
This has resulted in a grand total of 69 BTCminers, an increase of 18 over the last month, with the very first Rhodium BTCminer on either blockchain created on EOS about two weeks ago.
With over 3,800 coins left to be burned on EOS, there remains plenty of opportunity to score a rare Finney or two for your collection.
CryptoFinney on WAX
Shift Gold coins on WAX are still being burned at a much faster pace than they are on EOS, with two out of every five coins already burned.
There has been approximately double the number of Bare Metal Finney’s created on Wax compared to EOS, although EOS has gained some ground in this regard.
This has resulted in a grand total of 145 BTCminers, still more than double the number forged on EOS, with all but 4 being of the more common Platinum, Iridium and Gold varieties.
With only 59% of the supply remaining (down from 84% a month ago) there remains plenty more Shift Gold to be put to the flame on WAX. At the current rate of destruction however, we should all keep in mind we’re on track to completely exhaust the supply before we reach September.
Bare Metals on EOS
After the last edition of The State of the CryptoFinney, one of the most common questions raised was in relation to the rare Bare Metal varieties.
On EOS there have been 17 Red Bare Metals created, of which 8 have been burned. And while the odds of generating a Red Bare Metal were set at 5%, in practice users have enjoyed an 8.7% chance of receiving one. Similarly there have been 7 Green Bare Metals created on EOS, of which 2 have been burned. The odds of receiving a Green Bare Metal on EOS have been approximately 3.6% versus the 1% guidance provided to the community.
Bare Metals on WAX
On WAX block chain there have been 37 Red Bare Metals created, of which 19 have been burned. Similarly there have been just 5 Green Bare Metals created on WAX, of which 3 have been burned. To date, the odds of receiving red and green Bare Metal’s on WAX have been 1.3% and 9.6% respectively.
Metal Supply on EOS
While it’s safe to say there are still plenty of amazing Finney’s yet to be discovered, it’s still interesting to see how much supply there is of specific Finney metal types.
In the case of EOS most metal types have been created at a pace one would expect – for example, 20% of the coins are burned and 20% palladiums have been sent to users.
The standout on EOS are the Rhodium Finney’s, of which 26% have been already been generated where we would expect only 20% to have come along by this point in time. This perhaps explains why we’ve seen a Rhodium BTCminer on EOS, and not on WAX, despite more than double the amount of coins being burned on WAX versus EOS.
Metal Supply on Wax
In the case of WAX most metal types have also been created at the pace one would expect, although strangely enough it’s again the Rhodium Finney’s that are the outlier. To date Rhodium’s created are lagging on WAX, with only 32% created versus the 40% the odds would suggest.
At the current rate of burning however, we should be expecting the first Rhodium BTCminer on WAX very soon.
Overall, the thing that jumps of the page at me when analyzing these figures is how WAX has outpaced EOS every step of the way at a ratio of 2:1, and how this has held true across most of the above analyzed metrics, and across both instalments of this series.
With Shift Gold on pace to sell out on Wax in under 10 weeks, it will be interesting to see if this ratio changes.
It will also be interesting to see if EOS Finney’s gain some extra utility to encourage more activity on the EOS block chain. After all, our founders are all members of Eden, and Writer was born from the original EOSwriter publication, so we know the EOS block chain is near and dear to their hearts.
The next instalment
Moving forward I will aim to provide one of these updates per month. If there are suggestions as to what should be included please let me know in the comments.
I for one am keen for an update on pets and other rare attribute counts, which should be expected in the next edition.
Watch the latest episode of RoloDex featuring Brendan Woodward here:
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