1

I understand the current BTC "reward" for mining is 12.5 BTC.

I found these two blocks (one , two) where the newly generated coins seems to be 13.5 and 14.5.

I don't see a 12.5 BTC reward, and these transactions look like rewards, but have the wrong amount.

What am I mis-understanding?

  • 1
    fees?.......... – amaclin Jul 24 '17 at 21:16
  • I do not think fees should show up under "No Inputs (Newly Generated Coins)"; I believe fees should come from each transaction, yes? – abelenky Jul 24 '17 at 21:18
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    Yes, and they do, but the address that receives them is not listed in the individual transactions. They are simply tacked on to the coinbase transaction. – Jestin Jul 24 '17 at 21:19
  • the fees of other transactions from this block go to the miner adding to the block reward – amaclin Jul 24 '17 at 21:19
  • I should point out, however, that any value added to the coinbase transaction is still restricted in use, so can't be used again for another 100 blocks. In that way, this value is very much like newly generated coins. – Jestin Jul 24 '17 at 21:21
3

The block reward is collected as one or multiple outputs in the coinbase transaction. These funds are subject to a 100 block maturation period.

The block reward is composed of two parts: The block subsidy, which is 12.5 BTC currently, and the collective transaction fees from all transactions in the block. Since the transaction fees are about one and two bitcoins in the blocks that you cite, block rewards amount to 13.5 and 14.5 BTC respectively.

Unfortunately, "block reward" is used inconsistently. Some use it for the "block subsidy" while others use it for the total coinbase output.

4

I think you forgot to read this:

enter image description here

and this:

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Remember that fees from the transactions get added to the coinbase transaction and sent to the coinbase address. It's a bit confusing, since Blockchain.info is labelling the whole coinbase transaction as (Newly Generated Coins), even though some of that value comes from fees, and therefore pre-existing bitcoin.

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