Post
Topic
Board Bitcoin Discussion
Re: 15btc transaction fee, big mistake
by
Quickseller
on 06/03/2016, 22:32:50 UTC

the mining fee is divided proportionally by the hash of the miners right? if you have 1/10 of the hash you get 1/10 of the total fee?

No. Only one party (the one mining the block) will get 100% of the money.

wait, how it work with pool then? it must be divided in the end, or the pool get all the money from fees?

to answer this is to understand the difference between a mining pool and a mining farm

a mining farm is a 100% owned by one company and all the ASICS are 100% owned by that company.
a mining pool is individuals, groups and multiple companies working together as a pool/syndicate.

the block was mined by F2pool which is not farm(single entity with 100% ownership of all the asics), but IS a pool.
now to get to the payout part:

F2pool (previously discusfish) has a 4% fee. so F2pool keeps 4% and the other 96% is divided by the shares of the individuals hashing.

eg the reward is 41.13939715, f2pool owner gets 1.64557589 and the rest gets shared out by the other miners.

if it was a mining farm. the entire 41.13939715 would be kept by the farm owner
This is not quite true. f2pool is 4% PPS, which means miners receive 96% of the EV of the hashpower they direct to f2pool regardless of f2pool's luck. As long as f2pool has at least 96.001% luck over the long run they will be profitable (before counting other expenses).