Bitcoin Forum

It appears that there is another issue with Ethereum again hehe. I was shaking my head and laughing on Eth 2.0's constant delays, however, this might be the best course for their developers, who always does something wrong, and their loyal investors.


Meanwhile, “Leon” ran the script and came up with several different supply figures when he (claimed on Twitter) to have ran the script:

This is incredible. Popular block explorers and coinmarketcap all show a different ETH supply

Maybe fix this before launching Ethereum 2.0 frens https://t.co/Nf8sq2PO9W

I didn't believe so I just tested

blockchair.com/ethereum 112086620

https://twitter.com/marcandu/status/1291840343047118854 112429827

etherscan.io/stat/supply 112086460

https://ethplorer.io/address/0x0000000000000000000000000000000000000000 112086233

eth.tokenview.com/en/ 109372852

https://coinmarketcap.com/currencies/ethereum/ 112086403

https://etherchain.org/charts/totalEtherSupply 111,743,459

Read in full https://cryptoslate.com/how-many-ethereum-in-circulation-asks-the-bitcoin-community/

I guess ethereum supply is not fixed, in fact I've always known that ethereum had an indefinite Total supply, I believe that explains why there are divergent figures when trying to get the total supply. I really don't know why the developers made it this way, but I ones read that it would be corrected in the ethereum 2.0 project.

I think this is an old issue, Its already been a hot topic before but still, it was not clear until today. by the way, I believe Ethereum total supply will be determined after the launch of Eth 2.0 because if it did not fix it might be used against them to create another serious accusation which is not good for Ethereum.   

The same issue has been discussed with the price of the coin, because different sites show different data. Each developer has its own settlement mechanism, and these differences did not lead to losses.
After the launch of Phase 2, Ethereum mining will stop and the number of mined coins will be greatly reduced.
ETH 2.0 plans to burn most of the commissions, since the number of coins will stop growing strongly on the new algorithm.

I have less knowledge on the technical aspect of ETH. Aas far as I know, it's supply is not fixed and infinite. I think I was wrong. Anyway, with the new ETH 2 version, they are going to make ETH limited in supply. So, if the above is a big, I guess they will have fixed it in the new version.

I believe Coinmarketcap's data on circulating supply is updated every few minutes and not in real time. Ethplorer seems fine to me but I prefer to use Etherscan and I find its total supply data on ETH more reliable and more informative than any other explorers.

https://etherscan.io/stat/supply (https://etherscan.io/stat/supply)

As far as i know ethereum has a flexible supply but this issue will also be taken care of in shape of eth 2.0 and the network will be converted into a truly deflationary model with fix supply and that too will be reduced due to constant burning with network' revenues.

I hope you're right, but I never heard of anything like this.
I'm pretty sure tho that if ethereum 2.0 won't cut total supply of eth its going to kill it in long term

currently on coinmarketcap, the total supply of Ethereum is only a few different, on coinmarketcap 112,123,103 and on etherscan 112,123,177.59,
of course my benchmark is still at Etherscan, the total supply of Ethereum cannot be verified due to inflation,
my question, what is shown in etherscan about the "total supply" is the circulating supply? If there is a total supply, why doesn't Coinmarketcap show it?

As the supply is ever increasing, they need to map every new blocks to find the new supply of the coin. And I think every of the tracker would not track for the coins everytime but do so on scheduled time to limit resources. The difference in supply might be due to the difference in their last update time. With ETH 2.0, things might get more predictable.

Ethereum supply was growing continuously according to the needs of the project team, i am talking about ethereum 1.0, which is understandable because due to massive development work going on ethereum network seems to be sourcing funds directly by selling some coins in the market although this could not be the ideal thing to do as far as supporters or investors are concerned but there are not many options. But the good thing is that this is going to be changing with eth 2.0 we will know exact supply and numbers in the market in a precise and transparent way.

It´s just important for some BTC maximalists like Hodlnaut who is obviously not smart enough to understand the different use cases of BTC and Ethereum. At this point, it´s absolutely unimportant how many ETH coins are out there, it´s about the use and adoption that we should care. The fact that some BTC freeks joining the choir of bashing Vitalik for not coming up with clear numbers are just an annoyance and should be ignored. We are in this togetherr, crypto is no place for tribalism.

The problem is that until now no one can be sure when version 2.0 of Ethereum can be released. So at the present time people still have to accept the fact that Ethereum's supply is unknown.
If the development team does not quickly answer the question about Ethereum's source, there will certainly be many investors losing patience with this project.

This has always being in constant debate on the supply of ethereum and I also think this supply affects the price on it each time. Let's see what the developers will do over time.

I believe the most accurate way to check the current supply of the coin is by using desktop wallet directly.
Open the console and write a command there, in Bitcoin the command i think 'gettxoutsetinfo'
It will shows something like this :
{
  "height": 643150,
  ...
  "total_amount": 18457180
}

in any case the total Ethereum supply at ETH 2.0 will remain indefinite. because the developer didn't discuss it just upgrade of the core Ethereum protocol and change the consensus pow to pos. You can see it here https://ethereum.org/en/learn/#eth-2-0. Furthermore, the popularity of decentralized finance or defi in the current crypto space will increase the interest of people to join staking participation in Eth 2.0 in the future.

It was like they were reading our minds (or posts  ;))
For what it is worth:
https://decrypt.co/38271/so-what-is-the-ethereum-eth-total-supply
So, what is the Ethereum (ETH) total supply?
This thorny question has generated a shedload of debate on crypto Twitter for the past five days. And it’s not going away.
By Adriana Hamacher  Aug 11, 2020

https://wp.decrypt.co/wp-content/uploads/2020/08/Eth-supply.png

Alongwith the upgrades and improvements coming in the form of ethereum 2.0 that aims to solve not only scalability issues but also the algorithim of ethereum network will be changes to proof of stake from proof of work. As part of these upgrades ethereum developers are also looking to come up with a well defined supply and they plan to become a completely deflationary coin but in which phase of eth 2.0 roll out this will be coming is yet to be determined.

How big is the difference? if it is just a small number and negligible then I think its not significant. Are users affected by it negatively? Perhaps there are some discrepancies on the nodes because obviously, they counting differently. Even Vitalik himself doesn't know the real number of supply, lol.

that is sad if exact count is not easy and readily available. Hopefully ETH 2.0 will address the incestory problem related to the uncles

This is why I prefer Etherscan over other ETH explorers because it includes data from both block rewards and uncle rewards to calculate ETH total supply.

- Found this statement as stated on Etherscan site which explains it simply.

https://etherscan.io/stat/supply

However, what did Etherscan, Ethplorer, Blockchair, Tokenview, Coinmarketcap and Etherchain use to verify the supply? It was also from their node, I assume and they gave different values.

There are some people who might think that this is insignificant, however, this shows the inferiority of the project. I speculate that if bitcoin's supply verification occured like this, the news articles published would be like it was the end of the world already hehehe.

This story is LITERALLY one of the biggest nothing burgers ever.

Look up Crypto FUD in the dictionary, and you will find a link to this story.

It's a story. We are talking .1% of supply could be delayed uncle's or cousins or whatever.

Saying this cast Ethereum in ANY kind of negative light is bullshit.

This whole "ether supply can't be counted" is smoke and mirrors people.

Oldest trick in the book...blatant misleading FUD by those that want to help whatever coin is in their bag that's competing with ETH.... point blank

The response of Andreas to this whole ETH supply thingy can be found in a thread https://twitter.com/aantonop/status/1292877311570857990

I will put it all here for easier reading:

1. This whole "what is ETH supply" thing is a silly gotcha that doesn't make much sense if you understand how Ethereum works. It's no better than the silly gotchas Schiff and Roubini level at bitcoin.

We can do better. Let's look at the details...

2. First of all a block explorer is a very limited view of any blockchain. These are user-interface tools that abstract important details and translate them for the user's benefit. They each have a point-of-view that is the result of their data collection and analysis methodology

3. You can easily see how this plays out in Bitcoin too, if you've paid any attention to all the errors in popular blockchain explorers over the years. Take a Bitcoin metric like "current hashrate" and you will find a dozen different answers depending on where you look

4. There's also the fact that Ethereum uses an account-balance based system instead of a coin-fragment (UTXO) system. That means that counting current ETH in circulation is not as simple as finding all UTXO in Bitcoin. Nevertheless it is possible - you just have to scan the chain

5. Then there's the nuance of burn addresses. Where in Bitcoin there are some assumed burn addresses, there's none universally recognized. In Ethereum however, the 0x0 address (used for contract registration) is in effect a burn address. Do you count that ETH? Some do some don't

6. Bitcoin does 1 block every 10 minutes. Ethereum does ~40 in that time. So exactly when you ask the question, will determine what answer you get. It won't be a stable answer for 10 minutes, it will change every 15-30 seconds or so.

7. Then there are "uncles". In Bitcoin, PoW is a winner-takes-all mechanism. Not in Ethereum, which uses a Greedy Heaviest Observed Tree (GHOST) protocol to include stale blocks with a lower reward. These are caller "uncles" or "ommers"

8. This is a critical point to understand: ETH supply issued as rewards doesn't go 100% to the winning block each confirmation. In Ethereum, up to 87% of the block reward goes to uncles, and some is further distributed to nephews (children of uncles). Part also goes to the parent

9. This mechanism serves two purposes:

(1) it allows much faster block times (40x of bitcoin), without creating a whole mess of stale blocks that get no reward. Ethereum doesn't discard stales, it rewards them

10. (2) It acts as a sort of on-chain mining pool mechanism, since it doesn't penalize second-finish miners with a zero reward. This makes lower-hashrate miners able to compete as solo miners without losing potential reward

11. Ok I lied, it's 3 purposes -
(3) The rewarding of uncles reduces the incentive of mining empty blocks, since the race is not winner-takes all.

12. It's important to understand that uncles arrive with a slight delay from the parent block and are incorporated on an "eventual" basis up to 6 blocks after the parent. This means the issuance at any height isn't finalized until a few blocks later, when all uncles are counted.

13. The consensus mechanism can count the *exact* issuance of ETH, as long as you set a specific block height that has had all it's uncles counted and use that as a point of reference.

14. But just like Bitcoin's mempool, not all nodes see all uncles at the same time, meaning that if you are asking for a real-time snapshot, you will get different answers. That's not because there isn't consensus, it's because consensus on uncles is a few blocks behind the tip.

15. Therefore, your methoology for calculating ETH supply will determine your answer. The exact timing (reference point) of your question will determine your answer and it will change every 15-30 seconds. Whether you count burned ETH will determine your answer.

16. On top of all that you have to scan the blockchain to create a correct current state, based on the mining rewards. All of which means that there is NUANCE to this question.

17. The nuance is what was missed by all the gloating investment "experts" who have been jumping up and down for several days, thinking they found a gotcha that invalidates Ethereum. Demonstrating their lack of understanding of the technology and its economics.

18. The exact same attitude that I've been battling this same week with a silly article about Bitcoin mining centralization in China, that ignores several key nuances of the Bitcoin system because of a lack of technical understanding or independent review.

19. Again, it takes 10x the time to debunk bullshit as it does to state

There are plenty of valid things to criticize, both for Bitcoin and Ethereum. Those who understand these technologies work to address the issues by *building* engineering solutions for engineering problems

20. Those who don't understand nuance, seize on some silly tribalistic argument and get all excited that they have finally and definitively debunked Bitcoin or Ethereum, while they've only debunked their reputation and integrity.

It is not really all that shocking and it is not really all that impossible to calculate. If you think about calculating all of it individually you will end up with not making any head way at all, however if you calculate the assumption and just see how much it should have made that would allow you to make a lot more quicker calculation.

At the end of the day there are programs that calculate it automatically anytime one is found, either regular or uncle or nephew they are all calculated and watched like hawks these days so it couldn't be a problem. And if you want to check out, I agree that etherscan is probably the best place you can find for total supply, they are basically checking each and every one of them and you can also follow up address and transactions there as well which works great.

I don't see any issue here. Luckily this time i am more prepared to understand what's fud and what's not. Last time i sold my eth when it was 10 bucks or something like that because it was "overpriced" and would never work. I totally bought the fud back then. I am guessing some people will buy this fud and sell their eth.

Agreed that some of the news articles might be critical. We know Ethereum has a supply figure that did not break consensus. However, can you verify how much it really is?

Well if there is really a problem regarding this matter now is the time for the developer of ethereum to take action to these so that many people will still be trusting it and will still patronize ethereum.

News update.

Vitalik agrees to the challenge of auditing Ethereum's total supply of ETH in circulation, however, there were no definite plans declared on how and when it might begin.

In any case, similar to Ethereum 2.0 release, it might also be permanently delayed.



The mystery surrounding Ethereum’s total ether supply may soon be clarified, as the blockchain’s creator, Vitalik Buterin, recently agreed to help orchestrate a coordinated audit of the total ether supply.

Source https://www.btctimes.com/news/bitcoin-supply-to-see-synchronized-audit

Thank you for the information that you have provided, for now we are just waiting for the buterin to do that and I also hope that when 2.0 is launched all these problems can be resolved

can anyone explain to me, why the total supply Ethereum always increases every time, it should be Ethereum it has been determined to have a total supply of 100.000.000 since Ethereum launched

Regarding the Ethereum supply, I took data from the coinmarketcap site. Which is circulating supply of Ethereum currently 112,363,420 ETH.
And indeed until now it is still a mystery about the Ethereum max supply, because I did not find any data mentioning the max supply of ETH.
Actually, the thing regarding the supply of Ethereum, I don't really think about it, as long as Ethereum is still in high demand. Very safe and
profitable investing in Ethereum.

that kind of supply is big and enough  . btc supply is at 21 m only and people continue with doubts if what will happen when all the supply have been mined  .  why would eth users worry   ?  other sources tells different supply but its only a small difference so  thats not worth it to debate with  .  i dont think eth users are bothered with the supply problems because if can see , eth value still keeps on increasing  and people keeps on speculating for its improvements  or developments  .

https://i.imgur.com/Ln82Co1.jpg
https://www.coindesk.com/how-much-ether-is-out-there-ethereum-developers-create-new-scripts-for-self-verification

That's according to the Coindesk information data of total supply of Ethereum even though they are not the same but at least it's near to the accurate one, but my question is this. Where is the real total supply and the most closest information they gave.

Some expert says, that doesn't matter to them. Not only Ethereum has no fix supply.

Ethereum does not have a limited supply similar to bitcoin. Its supply is infinite.

Also, agreed. If you do not really care for the project and only care for profits, invest and support Ethereum hehehe. However hehehe, you will return to the bitcoin, yes? Maybe fiat money?

@ReiMomo. I speculate that it does not matter to the experts because they might have accepted that it cannot be fixed.