This one is going to be a long one, so bear with me. Here’s a menu to help you navigate:
- What is a Double Coin Week?
- What is the “normal” block baseline?
- Should I switch my mining power with the tides?
- Bonus: How much does RollerCoin distribute?
It’s also important to note that all the info here is from around 21:00 UTC on 10/11/21. Obviously values fluctuate, so think of this as a snapshot, and utilize the structure to make your own analysis & decisions.
What is a Double Coin Week?
Recently RollerCoin has been choosing one of their mineable currencies and doubling the block reward for that currency for a week at a time. This started during the Season 1 event, so the only currency that has not yet seen a boost is BNB, as it was added after Season 1 had ended. A few of the currencies enjoyed multiple double-weeks, and at least one week the doubled coin was voted on by the players. While technically BTC got 4,201 votes and RLT got 4,183 votes, it seems the extra bitvotes came in after the end of the poll, so RLT was the official winner.
This week the boosted coin is DOGE, but instead of 2x they’re distributing 4x. In order to simplify this process, it has been announced that the block reward for DOGE will be 80 instead of the usual 20. The rate displayed on the “block daily reward” chart on the Network Power page is an average for the day, so it won’t say 80 until tomorrow:
Generally in a double week, the network hash rate will shift as more miners realign their personal power to try to capitalize on the boosted currency:
To the careful observer, this is clearly reducing the number of ways the block reward for the other currencies will be split, which would seem to also give a boost to the miners who do not switch to DOGE. In theory, fewer people sharing a pie results in a bigger slice for each person, right?
Well, we can calculate that.
What is the “normal” block baseline?
For each coin you can mine, a “block reward” is given. Each block currently takes about 10 minutes to mine, and at the end of each 10 minute cycle the block reward is split among all the miners who have power apportioned to that coin, pro-rated by power contributed. Put simply, if when the block is “mined” your individual power represents 1/100 of the total power devoted to that coin, you get 1/100th of the block reward. Each block rewards miners in its own currency.
Are the blocks normally equal?
Since each currency represents (and for the most part accurately) tracks a Real Life Crypo, the rewards for each block are not numerically identical— that is, they’re not distributing 1RLT, 1BTC, 1ETH, 1BNB, and 1DOGE, because those are wildly varying amounts of value.
Instead it looks more like this (as of 21:00UTC, 10/11/21):
- 47.28 RLT
- 0.0003 BTC
- 0.005 ETH
- 0.012 BNB
- 80 DOGE (remember that this is 4x DOGE week)
For simplicity’s sake, we should standardize these values so we’re comparing apples to apples, and not trying to evaluate an orange against an elephant. We can do this with some (very) basic math.
Note: I am NOT a mathematician.
As of this writing, the price to purchase 1RLT in each of those currencies looked like this:
- 1RLT = 1RLT
- 1RLT = 0.0000205x BTC
- 1RLT = 0.000336xx ETH
- 1RLT = 0.002892xx BNB
- 1RLT = 5.1867xxxxx DOGE
The x at the end of those numbers represent the portion of the values that do not display, but are still there— if you try to buy a rollertoken with what looks like the exact number of coins needed in your wallet, you might be told you don’t have enough based on a rounding error. But whatever. Close enough.
To understand how many “RLT” we’ll get from mining the other coins, we can convert their block reward amounts to RLT by determining how many RLT we can buy with the block reward. This means dividing each coin’s block reward by its RLT purchase price.
If we start with our 80 DOGE, we can see that with a whole block of 80 DOGE would buy us ~15.42 RLT at a cost of 5.187 DOGE per RLT.
- 80 / 5.187 = 15.42
Similarly, the other coin’s block values are as follows:
- 0.0003BTC / 0.0000205BTC = 14.63RLT per BTC block
- 0.005ETH / 0.000336ETH = 14.88RLT per ETH block
- 0.012BNB / 0.002892BNB = 4.15RLT per BNB block
BNB only gives out 1/3 of what the other coins give??
Hopefully by the time you finish reading you’ll understand why…
But could I be wrong?
Yeah, totally I could, absolutely, I’m no mathemologician. So let’s double-check it by reconciling with CoinGecko.
A Rollertoken is supposed to be worth $1 US. Since it’s not a real coin or token, there is no true way to judge its value, except in comparison to the values of the coins you can buy it with.
As of ~21:00 UTC on 10/11/21, here are the USD values that CoinGecko reported as being equal to the amounts of sats, gwei, jaeger, and DOGE that it would take to buy 1RLT.
Outside of RollerCoin, 1RLT’s worth of BTC will get you $1.17USD:
1RLT’s worth of ETH is equal to $1.18USD:
1RLT’s worth of BNB is $1.17USD:
And 1RLT’s worth of DOGE is also $1.17USD:
Why does 1RLT cost more than $1?
But most likely, profit.
What does CoinGecko say a block is worth?
With no calculations whatsoever, I put the amount of each currency that is rewarded per block into CoinGecko to see how much it was worth. With our $1 = $1.17 knowledge, we can already expect these values to be approximately 17% higher, but if I did my math right above they should track the same relational values to each other.
BTC block reward:
17.22 is 118% of 14.63
ETH block reward:
17.51 is 118% of 14.88
BNB block reward:
4.90 is 118% of 4.15
DOGE block reward:
18.20 is 118% of 15.42
So, should I switch my mining power to DOGE?
Your profitability for one coin over another comes from two factors:
- how big is the pie?
- how many portions are there?
As a reminder, here are the standardized block reward values:
- 47.28RLT for mining RLT
- 14.63RLT for mining BTC
- 14.88RLT for mining ETH
- 4.18RLT for mining BNB
- 15.42RLT for mining DOGE
The number of miners for each currency doesn’t matter here as much as the amount of power they bring. A person with 1/4 of the total power and a person with 1/100 of the total power will not get the same amount of reward.
As a reminder, here are the power values for each currency:
- RLT - 13.369Eh/s
- BTC - 10.504Eh/s
- ETH - 6.845Eh/s
- BNB - 3.365Eh/s
- DOGE - 14.431Eh/s
Remember that these are as of the moment I “paused time” and have changed since then.
What is Eh/s?
Hash rates are expressed 1,000 units of each other.
In this way, we can express 1 tera-hash as 1/1,000,000 exa-hash, or 0.000001Eh/s.
When we play the roller games and are rewarded with gigahash (Gh/s), each 1Gh/s is one one-billionth of an exahash. The 48.517Eh/s of the entire RollerCoin mining network represents about 48,517,000,000 Gh/s. When you buy a miner that adds 22Th/s to your power, that’s about 0.000000453 of the whole network.
For every Th/s of power you personally hold, you’re contributing 0.000001Eh/s
Splitting the Pie
Each block’s reward is divided up by the amount of power devoted to mining that block. Your portion of the pie represents the percentage of the block that came from your personal power. The calculation looks something like this:
Personal Reward = Personal % of Block Reward
You can multiply the total block reward of the currency you’re interested in by the decimal value that represents your contribution to estimate your reward for that currency.
If I have 500Th/s and want to mine DOGE, which has a power of 14.431, it will look like this:
- 500Th/s = 0.0005Eh/s.
- 0.0005/14.431 = 0.00003465
- 0.00003465 x 80DOGE = 0.00277181DOGE
That seems right:
So now I can rely on this method for the others:
- 500Th/s of 13.369Eh/s = 0.00374% of the RLT block reward
- 500Th/s of 10.504Eh/s = 0.00476% of the BTC block reward
- 500Th/s of 6.845Eh/s = 0.0073046% of the ETH block reward
- 500Th/s of 3.365Eh/s = 0.0148588% of the BNB block reward
And when we standardize the value if the block rewards:
- 0.00374% of $47.28 = $0.00177 (RLT)
- 0.00476% of $14.63 = $0.00070 (BTC)
- 0.0073046% of $14.88 = $0.00109 (ETH)
- 0.0148588% of $4.15 = $0.00062 (BNB)
- 0.003465% of 15.42 = $0.00053 (DOGE)
Though these numbers have been rounded, it is clear that RLT is the best choice here. If you want a real currency, pick ETH. Mining BNB doesn’t result in so much less than the others as it seems.
That 80 DOGE will be split into increasingly smaller portions.
Bandwagons are bad, mmkay?
How much does RollerCoin distribute?
If each of the 5 blocks has a USD value as we determined:
- RLT = $47.28 per block
- BTC = $14.63 per block
- ETH = $14.88 per block
- BNB = $4.15 per block
- DOGE = $15.42 per block
then each block costs RollerCoin $96.37.
Using the “buy a RLT with your sats” values, CoinGecko puts these at $47.28, $17.22, $17.51, $4.90, and $15.42, for a total of $105.11 per block.
To make it easier, let’s split the difference and estimate $100 USD per block.
If a block takes 10 minutes, there are six blocks per hour. The 24 hours of the day then has 144 blocks.
So for all the $200 season passes, $110 Dream Demolishers, and $50 loot crates they’re selling, they’re distributing $14,400 USD per day.
For a 60 day event, they will break even if they sell 4,320 season passes (that’s without any other item sales). If that seems like a lot to you, consider the number of players they claim to have. I’d be willing to bet they’re taking massive profits in these events.
If you’re not already getting paid in crypto for your casual gaming habits, you can grab a quick thousand sats by using my link to join RollerCoin. Adopt your own Mr. Goxx and get that wheel rolling!
If you’d rather not play games with your crypto, check out one of my other favorites and faucets.