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I'm trying poolmining ob btc-guild with the cgminer and try to calculate by testing if it is worth it or not.
One thing I wondered is: Why should I want to set a high difficult / not the lowest one, when mining?
If I am paid for the last N shared within a shift, I would want to contribute as many shares as possible. The lower the difficulty is the higher is the amount of shares, isn't it?
With about 170MH/s I have about 90 shares per hour.
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The server will reject all shares that are below the difficulty it specified in your getwork request.
Reasons for the server to lower the difficulty of accepted shares:
Reasons for the server to raise the difficulty of accepted shares:
Something from 4 to 10000 is about right.
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If you submit shares which are twice as difficult, you get twice the payout for each. You don't lose out by submitting difficult shares.
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Actually, you do lose out if the "diff" is set too high. The higher the "diff" the more energy your miner will pull and the more watts you use.
Since the value of the days earnings is directly proportionate to the energy cost to mint. The value of coin is worth more if more energy was used to create it.
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170MH/s is not much, so you will not be making much more than 0.3 of a BTC every 2-3 weeks or so, if that. How much is your electricity? That will probably be your benchmark. Use this: http://tpbitcalc.appspot.com/
Yes probably it is not worth it. That is what I am testing right now.. Calculating the earnings per day/hour is quite simple. It is also simple to calculate the costs. The main question more targeted how the difficulty comes in, in this scenario – Gundon – 2013-03-26T14:50:51.483
Electricity bill only counts if you live in a home, If you rent an apartment which has fix monthly rate, it does not matter ;) – None – 2013-07-09T16:30:45.283
Are you sure you don't have any kind of settlement? – V-X – 2013-10-01T11:11:28.663
Do you mean setting the difficulty setting for a specific worker on the BTCGuild site? (I use BTCguild). If so I think Elurthia (pool owner) has code to set the difficulty according to your workers speeds. But I would think, keep it at the lowest setting, you will create more low difficulty hashes than high difficulty ones, you can send all hashes >= the minimum difficulty for that worker to the server to receive a share I believe. also (90 shares a second its freaking ridiculous, I think you're counting wrong) – KDecker – 2013-03-26T18:29:11.610
Should have been 90 shares per hour :D thanks for the hint. Yup I already have the setting on the site at the lowest option. But I thought that somehow the miningsoftware could also be configured. But Nicks answer tackles all those points – Gundon – 2013-03-26T20:31:39.017