Under the bitcoin Protocol rules here: https://en.bitcoin.it/wiki/Protocol_rules#Transactions
in the "block" messages section There is the pseudo-algorithm for validating a given block.
On Point 16-2 It says:
"Reject if coinbase value > sum of block creation fee and transaction fees"
If we keep it simple,
I know that the block creation fee is calculated using 64 bit integer operations (in satoshis) as:
(50 * 100000000) >> (height / 210000)
And I also know that transaction fees are defined as:
the sum of input values minus sum of output values for a given transaction.
So the overall transaction fees on a block would be the total sum of all transaction fees in that block.
But how do I 'calculate' in pseudo-words, the coinbase value and what is it referring to?
I seem to not understand something here...
Thanks in advance