 This question comes from Satyendra, why does the transaction fee not show as a transaction output in the block explorer? Satyendra says, just block mastering Bitcoin, I had this question looking at a sample transaction in the block explorer. Is there a public address where the transaction fee is sent, and is that address hidden on purpose? That's a great question, Satyendra. It's something that is very confusing at first. You look in the block explorer, and it's supposedly showing you all of the information that's in the block. It seems that fees are not in there at all. The true reason for that is because fees are indeed not in there. A transaction does not include a specific output for fees. That is not part of a transaction. One of the reasons is that would require you to know where the miner wants the fees to go. You would have to put in your transaction an output that could be redeemed by a miner, but you don't know who is going to mine it yet, so that would be impossible. The second problem is that you would have an extra output in every transaction. If you have 4,000 transactions in a block, that's 4,000 outputs for fees. Yet the fees are all going to go to one miner. Why do we need 4,000 outputs? That's not how it works. The way it works is the fees are left over, meaning that you have inputs that bring in a certain value into a transaction, and then you have outputs that spend less than that. The difference, the bit that isn't spent by the outputs, but funded by the inputs, the overfund of inputs minus outputs, whatever is left over, is the fee. The way you make a fee in a Bitcoin transaction is by not spending it all in outputs, by funding the transaction with inputs and then spending less than the entire amount, and whatever is left over is the fee. It's implicit, it's not explicit. Okay, great, so it's not in the transaction. But where is it? Where is the public address that gets all the fees? Where is that payment? And here's the answer. It's in the Coinbase. It's in the Coinbase transaction of the block where the transaction is mined. So if you look at your little transaction in a block, and then you look at the Coinbase transaction of that block, right now the Coinbase reward is $12.5B, but if you look at the Coinbase transaction, which pays to a specific, it's usually a paid-to-public key hash. It might be a different type of script, but usually it's a paid-to-public key hash. So you can see which address the miner is paying to. They're not paying $12.5B, which is the reward in the Coinbase. If they're paying $12.513621, or $12.61253, where did that $0.1 come from? Where did that $0.123 come from? That's the fees. And what it is, it's the fees from all of the transactions that were included in that block added up. Do the math. Go and look at every transaction in a block, probably best to pick a block that's relatively empty, and you can find those in the early days of Bitcoin, same rules applied. You can find blocks that have two or three transactions, and within those blocks, look at the math. Or you could even run a little script if you want to. Try out your skills with the Bitcoin software and running scripts and interrogating the blockchain. So you can see for yourself, download a block, pull out all the transactions, add up the amounts of all the inputs, deduct the outputs from the inputs. You're left over with the fees, the fees for all of the transactions. If you look at the Coinbase, the amount above and beyond the reward that comes in each block, which is currently $12.5B or whatever it was at the time of the block that you look at, you'll see the Coinbase is more than that. That amount should correspond exactly to the excess input of all of the transactions, to the implicit fees. That's where the output is. That's where the public address, where the transaction fees are sent, is. It's in the Coinbase transaction. The reason it works like that is because the miner, when they mine the block, they construct the block, they put all the transactions in, they count up all of the fees, and then they construct a Coinbase transaction that gives them all of those fees plus the reward, and then they try to find proof to make that a valid block. So the miner writes the Coinbase transaction, they know where the fees should go, and they put that in there. There are no fee outputs in any of the individual transactions. There's one fee output for the block, and it's the combined amount of reward plus all of the fees from all of the transactions. I hope that answered your question, Sudinder. It's a little tricky thing, but it's very interesting how it's being designed and why it's being designed like that. I hope you enjoyed that answer.