American expert Jameson Lopp points out errors in displaying the total Bitcoin count on the popular Bitbo dashboard. This led to the misconception that the 20-millionth Bitcoin has been mined.
Incorrect Data on Bitcoin Count
Lopp noted that Bitbo incorrectly shows the total number of Bitcoins as 20,000,543, while the actual count is 19,843,807. This error stems from Bitbo using proprietary calculations instead of querying full nodes.
The Last Million Bitcoins
According to Lopp, the 20-millionth Bitcoin is expected to be mined about a year from now. This milestone will be significant for the cryptocurrency often likened to digital gold. Approximately 99% of Bitcoin's total supply will have been mined a decade from now. The final Bitcoin will be mined more than a century from now, during the last halving event.
Millions of Lost Coins
There are millions of lost Bitcoins in inactive wallets. Although some may eventually be reactivated, such cases are rare. A significant portion of Bitcoin's total supply is likely gone. Satoshi Nakamoto, Bitcoin's creator, is believed to have mined about a million coins.
Errors in calculations highlight the importance of accurately tracking cryptocurrency data. Correct information on Bitcoin mining and wallet status is crucial for the market's future.
