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You just simply select the hashrate you have. It makes no real difference in your pay, only the amount of bandwidth you use to get work and send shares. The higher the difficulty you select the less bandwidth you consume which is good for you and the pool.
Read the link ckolivas posted too.
Edit: also BTC Guild uses dynamic difficulty. So if you select a too low of a value the pool will adjust it dynamically. So the one you select is the floor value and the pool will adjust up if necessary but not down.
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Iam ming without any disruption ?
The miners run 24/7/4
OK, I would still post in BTC Guilds support thread though. |
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Thanks for explaining that for me. I think I have it.
So if the luck is down such as now is it worth moving to another pool or ...?
If the pool is having better luck, sure. But there is no way to tell when a pools is going to have good or bad luck as it is complete random chance. And it is possible for the entire network to have bad luck as well. |
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Maybe they took it down to add Stratum?? Wouldn't that be cool?
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PPLNS
I just havent seen luck mentioned anywhere else as such, although I realise its all down to luck I guess.
No not all pools use the PPLNS payout method. Here is a list that shows what pools use what payout method. https://bitcointalk.org/index.php?topic=104664.0Luck has nothing to do with the payout method. Luck, or Random Chance, is the nature of Bitcoin. It is a measure of how many blocks are actually found per a given amount of hash rate. Good luck means more block are found and bad luck means fewer blocks are found per a given hash rate. |
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Are all pools using this method now?
What "method" would that be? |
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Can anyone tell me if I am completely missing something here?
If I go to bitcoinwisdom.com and look at difficulty, it predicts the next adjustment as being +13% even though the average block time is 10 minutes. I realize their predictions are not accurate for the first days of a change, but is the average is 10 minutes shouldn't they be predicting 0%?
We're only a quarter of the way into this difficulty. So there is allot of room to go either way. But yes, if 6 blocks per hour is maintained all the way through then difficulty would stay the same, pretty much. But I doubt that will happen and they probably doubt it too. |
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Bitcoin is dominated by ASIC's now. So if you want to research those it may be doable. If you want to use a standard PC with a GPU you DON'T want to mine Bitcoin. Research the altcoins and see which of those are still viable.
Most people, more knowledgeable than me, are recommending people to buy bitcoins and hold onto them.
The price has fallen to half of the $1200 USD high. It's currently at around $600 USD and inching up, still not too shabby.
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I have NEVER heard of any such thing. Be VERY cautious. It sounds like a time share sales pitch where you basically get screwed.
DO YOUR RESEARCH before investing in any mining hardware. The only people really making money are the ASIC's manufactures at the moment.
Edit: Keep in mind that the Bitcoin difficulty adjusts every 2016 block's, 10 to 14 days, and it has been adjusting up drastically for well over a year now. So numbers that look good this difficulty level will only look worse in the future. It is very hard to recoup your investment these days.
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pools will be obsolete and only private farms will turn a profit thus bringing the doom and gloom end to bitcoin.
I don't follow your logic?!? Pools will be obsolete because of private farms which will destroy Bitcoin?? That's kind of like the movie "Soylent Green" where global warming caused all food sources to be destroyed which in turn caused a population boom and over populated the Earth. Obviously I'm missing something, please explain it too me.  |
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I still dont know what one I should be using and what the difference is.
Hopefully the pool operator will know what the option means. |
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I intend to try this, but on a VPS,
if need great specs?
please give me an explanation, I am still confused to start
You are confused and in the wrong place and wrong time. Computers used to mine bitcoin on their own in the distant past, but no more. Computers do not mine bitcoin with cgminer. Cgminer is used to run specialised hardware that you plug into your computer. sorry sir, I think this same discussion with cgminer like web-based monitoring, because I really need the info for this, My confusion for cgminer.conf configuration on windows to use cgminermonitor.com Do you have mining hardware? if so what ASIC'(s) do you have? |
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Does anyone know what coins they offer?
Bitcoin |
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So to overturn a tx with 6 confirmations miners would have to see the reported blocks go from ~5 per hour to 0 per hour not for 1 hour, or 2 hours, or even 8 hours but for 72 hours in a row. How many miners would keep mining on GHASH if they produced 0 blocks and thus 0 BTC in revenue for miners for 72 hours in a row. My guess is next to none. As soon as enough miners defect enough that GHASH hashrate fell they would quickly lose any chain of pulling off the attack.
That's fine and dandy for pools who only have public hash rate from miners. But what about entities, not necessarily a pool, that have enough of their own hash rate to exceed 50%? That's the real problem. Not, most likely, a pool with individual miners that have/had large hash rates. |
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When do we know a mining pool really has more than 50% of the hash rate?
When they find more than 50% of the blocks in a difficulty period? Do I win a prize? |
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It doesn't look like it's finding any shares to submit. The pool will only show estimated hash rate according to how many shares you submit.
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