Post
Topic
Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
VolanicEruptor
on 19/09/2013, 01:24:46 UTC
I'm a bit drunk but what significance does 3 BTC have here?

If you mine solo and find a block doesn't it still pay 25 BTC plus transactions?  If you mine in a pool then isn't what matters your rate of finding shares/hour?  I can't think of any reason why 3 BTC is relevant to anything - it's 100 GH/S mining for Y*X time or 1 GH/S mining for 100*Y*X time : it's exixtence says nothing about what X or Y is.

when you mine in a pool, you set threshold payments so that after so much work, you will get paid X BTC (in this case, 3).  This is so you don't get 100,000 deposits of 1 satoshi each to your account.  If this 3 BTC payment repeats itself enough times, a hash rate can be calculated based on how long between payments.  That's the idea anyway.

edit: please correct me if wrong here?