<p>Yes that look correct.</p>

<p>From <a href="https://bitcoinfees.info/" rel="nofollow noreferrer">https://bitcoinfees.info/</a>, the current average fee rate listed at the bottom of the chart is 24 satoshis/byte. To calculate the total fees in a day you want <code>fee rate</code> * <code>total bytes</code> = <code>total satoshis</code>.</p>

<p>Assuming 2MB block size,</p>

<p><code>fee rate</code> = <code>24 satoshis/byte</code><br>
<code>total bytes</code> = <code>2MB * 6 * 24</code> = <code>288MB</code></p>

<p><code>total btc</code> = <code>total satoshis / 1e8</code><br>
<code>total btc</code> = <code>(24 * 288M) / 1e8</code> = <code>69.12 BTC</code></p>

CC BY-SA 4.0
2018-12-19T14:46:44.753Z
2018-12-19T14:52:06.837Z
2018-12-19T14:52:06.837Z
JBaczuk
<p>From <a href="https://bitcoinfees.earn.com/" rel="nofollow noreferrer">https://bitcoinfees.earn.com/</a> I can see a list of bitcoin satoshi fees/byte</p>

<p>From <a href="https://thenextweb.com/hardfork/2018/07/12/bitcoin-block-size/" rel="nofollow noreferrer">https://thenextweb.com/hardfork/2018/07/12/bitcoin-block-size/</a> I can see that we can have block sizes of up to 2mb with segwit.</p>

<p>If I assume that segwit adoption increases in the next year, then I will base all calculations on the block size being ~2mb. </p>

<p>How do I back-of-envelope calculate total fees in bitcoin spent daily? </p>

<p>Assuming 6 blocks / hour, &amp; with 24 hours in a day, is it:</p>

<p>~satoshiFee * 2m * 6 * 24</p>

<p>Which, assuming an average satoshi fee of 10 (using <a href="https://bitcoinfees.info/" rel="nofollow noreferrer">https://bitcoinfees.info/</a>)</p>

<p>Gives:</p>

<p>10 * 2m * 6 * 24</p>

<p>And in BTC that's divided by 10^8, so we'd get:</p>

<p>20m * 144 / 10^8 = 28.8</p>

<p>Is that correct?</p>

CC BY-SA 4.0
2018-12-19T19:18:15.813Z
If you head to a place like this:
https://www.blockchain.com/explorer and click on one of the blocks you'll see a summary screen.

https://www.blockchain.com/btc/block/00000000000000000012ca146d2d1dc07d3157094b019ee59513e7a4caafc34e

Block reward is at the end of the summary.
cleanmarker
<bitcoin-core>
How to calculate bitcoins in fees spent dailly? (Avg)
bharal
# How to calculate bitcoins in fees spent dailly? (Avg)

(Asked by: username_0 on 2018-12-19)

From <https://bitcoinfees.earn.com/> I can see a list of bitcoin satoshi fees/byte

From <https://thenextweb.com/hardfork/2018/07/12/bitcoin-block-size/> I can see that we can have block sizes of up to 2mb with segwit.

If I assume that segwit adoption increases in the next year, then I will base all calculations on the block size being ~2mb.

How do I back-of-envelope calculate total fees in bitcoin spent daily?

Assuming 6 blocks / hour, & with 24 hours in a day, is it:

~satoshiFee \* 2m \* 6 \* 24

Which, assuming an average satoshi fee of 10 (using <https://bitcoinfees.info/>)

Gives:

10 \* 2m \* 6 \* 24

And in BTC that's divided by 10^8, so we'd get:

20m \* 144 / 10^8 = 28.8

Is that correct?

**Tags:** bitcoin-core

> **Comments:**
> **username_1**: If you head to a place like this: https://www.blockchain.com/explorer and click on one of the blocks you'll see a summary screen.  https://www.blockchain.com/btc/block/00000000000000000012ca146d2d1dc07d3157094b019ee59513e7a4caafc34e  Block reward is at the end of the summary.  

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## 1 answers

### Answer by username_2 on 2018-12-19. Score: 2 | Accepted answer

Yes that look correct.

From <https://bitcoinfees.info/>, the current average fee rate listed at the bottom of the chart is 24 satoshis/byte. To calculate the total fees in a day you want `fee rate` \* `total bytes` = `total satoshis`.

Assuming 2MB block size,

`fee rate` = `24 satoshis/byte`  
`total bytes` = `2MB * 6 * 24` = `288MB`

`total btc` = `total satoshis / 1e8`  
`total btc` = `(24 * 288M) / 1e8` = `69.12 BTC`


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