I appreciate all the responses to peoples questions, Gandalf.
Just want to double check my math to be sure I understand your post above:
If there's a block generated every 60 seconds, that means there is a block reward every minute? Are there 1440 (minutes in a day) separate block rewards each day? So in theory you'd need to have 1/1440 of the network weight to get a reward daily (on average)? Is that correct? With a network weight of 8,000,000, one would need 5,600 coins (.0007% or 1/1440 of 8,000,000) to average one block reward each day? Or is my understanding of the math completely wrong... thanks again.
Just want to double check my math to be sure I understand your post above:
If there's a block generated every 60 seconds, that means there is a block reward every minute? Are there 1440 (minutes in a day) separate block rewards each day? So in theory you'd need to have 1/1440 of the network weight to get a reward daily (on average)? Is that correct? With a network weight of 8,000,000, one would need 5,600 coins (.0007% or 1/1440 of 8,000,000) to average one block reward each day? Or is my understanding of the math completely wrong... thanks again.
Yup, that sounds pretty accurate.
