Calculate the supply of bitcoin: Σ[(100/(2^n)) x 210,000] = (50 x 210,000) + (25 x 210,000) + (12.5 x 210,000) + ... + (0.00000001 x 210,000) = 20999999.99755528 limit (epochs) = 33 n0 = 1
Calculate the max possible supply at a block height: Number of epochs = current block height / 210,000 e.g. block height = 750,000, therefore 750,000/210000 = 3.57 750000 - (3 x 210,000) = 120,000 blocks into 4th epoch (50 x 210,000) + (25 x 210,000) + (12.5 x 210,000) + (6.25 x 120,000) = 19,125,000 bitcoin could have been minted.
Verify the actual number of minted bitcoin: Using a full node (e.g. Bitcoin Core), run the RPC command 'gettxoutsetinfo'. On a RasPi this may take a few minutes to compute. The 'Total Amount' value is the actual number of minted bitcoin.
Here's some math:
Calculate the supply of bitcoin:
Σ[(100/(2^n)) x 210,000] = (50 x 210,000) + (25 x 210,000) + (12.5 x 210,000) + ... + (0.00000001 x 210,000) = 20999999.99755528 limit (epochs) = 33 n0 = 1
Calculate the max possible supply at a block height:
Number of epochs = current block height / 210,000
e.g. block height = 750,000, therefore 750,000/210000 = 3.57
750000 - (3 x 210,000) = 120,000 blocks into 4th epoch
(50 x 210,000) + (25 x 210,000) + (12.5 x 210,000) + (6.25 x 120,000) = 19,125,000 bitcoin could have been minted.
Verify the actual number of minted bitcoin:
Using a full node (e.g. Bitcoin Core), run the RPC command 'gettxoutsetinfo'. On a RasPi this may take a few minutes to compute.
The 'Total Amount' value is the actual number of minted bitcoin.