On 8 Apr 2017 8:31 pm, "praxeology_guy via bitcoin-dev" <
bitcoin-dev@lists.linuxfoundation.org> wrote:

There is the equation:
Power Cost + Captial Rent + Labor ~= block reward + fees


I don't know why many people insist on calling the subsidy the blick
reward. Thw block reward is both the block subsidy plus the block fees.