Miner profit in fiat currency = number of transactions * average transaction fee * btc-to-fiat exchange rate
Should this not be:
Miner
revenue in fiat currency = number of transactions * average transaction fee * btc-to-fiat exchange rate?
Yes, I meant revenue, not profit.
I need to stop saying "profit" entirely, even when I mean "profit"-- it has different meanings for economists and ordinary people.