Bitbo Incorrectly Displays the Total Number of Bitcoins

Jameson Lopp, an American cypherpunk and software engineer, has recently noted that Bitbo, a popular real-time dashboard for on-chain data, is incorrectly displaying the total number of Bitcoins.

American cypherpunk and software engineer Jameson Lopp has pointed out that a popular real-time dashboard for on-chain data is incorrectly displaying the total number of Bitcoins.

According to Lopp, Bitbo is reporting that there are already 20,000,543 coins in existence, which would mean that the 20-millionth Bitcoin was mined during this weekend. However, this is not the case.

"It seems like Bitbo is doing some proprietary calculation and not querying a full node," Lopp explained.

For now, Bitcoin's total supply stands at 19,843,807 coins, while 1,155,974 coins are yet to be mined. On average, the cryptocurrency adds roughly 900 coins to its supply per day.

Last million

Lopp has estimated that the 20-millionth Bitcoin is still about a year away from now. The mining of that coin will represent a groundbreaking milestone for the original cryptocurrency, which is widely considered to be a digital version of gold.

Roughly 99% of Bitcoin's total circulating supply will be mined in about a decade from now. Bitcoin inflation will be over in just a few more halving events.

The last Bitcoin ever will be mined in more than a century from now, when the very last halving event takes place.

Millions of lost coins

There are also millions of lost Bitcoins in wallets that have been inactive for decades. While many such long-dormant addresses do end up getting reactivated for unknown reasons, such cases are relatively rare. Hence, it is likely that a big chunk of Bitcoin's total supply has indeed been lost or abandoned.

Satoshi Nakamoto, the mysterious creator of the original cryptocurrency, is said to have mined roughly a million coins.