What`s a blocks coinbase value?

Question

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

Answer 1

The coinbase value in that comparison is the sum of the amounts of the outputs of the first transaction (coinbase) in the block

_{(community wiki answer, to avoid having unanswered questions with answers in comments floating around and occasionally getting bumped to the homepage)}