Neither, do squats once a week and deadlifts once a week. Also add in bench press; squats, deadlifts, and Bench press are your big 3 lifts.Oh and the 1 minute rest is a good idea but for a beginner it is an unnecessary distraction, just keep rest times relatively short and focus on your next set. Im no fitness expert or anything but for a beginner keeping it simple is the way to go, hopefully others will chime in..here is an example of a better 3-day routine (now ive always done 5 day so if someone has a better 3 day then so be it)
Bench press 3x5
Incline Bench press 3x5
Dips 3x5 (if you can get more then do 3x up to 10, when you get to 10 easily start adding weight)
Then an ab circuit (Side bends, Decline weighted crunches etc...)
Overhead Press 3x5
Barbell Row 3x5
Pull-ups 3x5 (Same as dips, up to 3x10 then start adding weight)
DB front raises 3x8 Dont go heavy on these, progress will be slow
DB lateral raises 3x8 Dont go heavy on these, progress will be slow
Barbell Curls 3x5
Calve Raises 3x5
I keep the reps low because for a beginner anything more than 5 reps and your form begins to slip.
IMO if you did this setup for 3 months while adding weight to your lifts every week and eating a big breakfast, big meal before you lift and a big meal after WHILE keeping all other meals smaller you will get bigger and stronger with limited fat gain.