By popular request, here's some more information about this program
The program is meant to fund things like development, exchange support, marketing, and other general costs associated with Bitcoin Private. To increase miner participation, the team has essentially guaranteed that 62,500 BTCP WILL BE awarded to miners as a result of mining in this pool. The difference is that if the target of 50,000 ZCL (4000 blocks) isn't hit, the miners still get a sizable payout for their effort.
If you were to mine 20% of the total donation pool, then you'd be awarded 20% of the bounty (12,500). This is true even if the total pool donation is only 30,000 ZCL. If we keep the same 20% number, this would mean that your mining contribution would be 6,000 ZCL. Previously this would have paid out 7,500 BTCP, however under the new program rules you'd receive a total payout of 12,500 BTCP tokens!! This is an amazing change and allows miners to reap even MORE PROFIT for their mining hash power.
Official Reddit Post (source):
After speaking with miners, we have decided to optimize our Voluntary Miner Contribution Program to be more attractive for miners to participate. Essentially, we will be having an auction system whereby 62,500 BTCP will be awarded in total to all miners in the program no matter how much ZCL is mined up to 50,000 ZCL total. In this way we allow miners to arrive at a fair market value for their contributions, while continuing to enable their support of BTCP.
Essentially, if you end up mining 1% of the total ZCL contributed, you would get 625 BTCP, no matter how much ZCL the entire pool donated. If you mined 10%, you would get 6250 BTCP, and so on.
So how can I calculate how much BTCP I have earned? Use this simple equation:
BTCP Earned = ZCL you mined for Fund x 62,500/(Total ZCL donated by pool)
Here are some examples of how this will work:
If 20,000 ZCL are mined at the end of the program, and you mined 100 ZCL, you would get 312.50 BTCP (100*62500/20000)
If 30,000 ZCL are mined at the end of the program, and you mined 200 ZCL, you would get 416.67 BTCP (200*62500/30000)
If 40,000 ZCL are mined at the end of the program, and you mined 300 ZCL, you would get 468.75 BTCP (300*62500/40000)
If 50,000 ZCL (program cap) are mined at the end of the program, and you mined 400 ZCL, you would get 500 BTCP (400*62500/50000)
If you have any questions, please feel free to reach out.
Common Questions:
Why can't I just donate ZCL directly?
That is considered an ICO and has legal ramifications.
Where do the 62.5k BTCP come from?
We will generate them all during the fork and then send to the proper addresses.
Why are you doing this?
We need funding for exchanges (50%), development (25%), marketing (15%), and general/administrative (10%).
If you are interested, direct your mining rigs to this pool: ZClassic Official Donation Fund
If you don't have mining rigs, feel free to follow my Nice Hash tutorial here