How to Mine Litecoin – A Guide on Litecoin Mining and Other Altcoins

While it is now considered too late for hobbyists without expensive ASIC processors to begin mining bitcoins, many of the alternative digital currencies are still well suited for mining on your huis PC.

Te this guide, wij’ll take you through all you need to know to begin digging up a few litecoins, feathercoins or dogecoins without any costly toegevoegd equipment.

For the most part, cryptocurrencies employ either SHA-256 or scrypt spil their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt.

Row of Gridseed litecoin miners set up. Copyright: Arina P Habich

Scrypt tends to be the more memory intensive of the two – however, huis PCs with reasonably powerful graphics cards can still mine those cryptocurrencies fairly effectively, spil there are no dedicated ASICs to rival with – yet.

Perhaps remarkably, it’s still possible to use just your rekentuig’s CPU to mine some of the digital currencies. This holds true, even if you have only a laptop with integrated graphics, however this may not prove terribly effective and is not a set-up wij would recommend.

Wallets at the ready

Before you commence mining, you will need a wallet to keep your hard-earned coins te (see our guide to storing bitcoin). A good option is to head to the homepage of the currency you intend to mine and seek out the download listig for the default wallet app. If you would like to do more research into litecoin specifically, wij have a guide on how to get embarked.

If you find yourself ter need of help and advice, most altcoins have community forums, spil well spil their own subreddit. The majority of wallets are based on the original Bitcoin-Qt client. Be warned, however, that before thesis wallets are truly usable, you may face a lengthy wait while the coin’s entire block chain downloads.

Wow. Much Wallet (This is DogeCoin’s Wallet)

The need for speed

Unless you wield specific mining hardware, there are two ways to mine cryptocurrencies: with your central processing unit (CPU) or with your graphics processing unit (GPU) – the latter being sited, of course, on your graphics card.

Of the two, a GPU offers far better spectacle for the cryptographic calculations required. However, if you are making your very first foray into mining and don’t wield a souped-up gaming laptop – a laptop with Intel integrated graphics, perhaps – it will still be possible to mine those altcoins, but at a far slower rate.

The catch with GPU mining is that it requires a dedicated graphics processor, such spil you may have fitted inwards your desktop PC – the Intel integrated graphics cards found ter most laptops are just not suitable for the task. To keep speeds up to a respectable level, most altcoin miners build dedicated machines using motherboards that can house numerous graphics cards, usually via riser cables.

Be aware, too, that mining digital coins is very system intensive and can reduce the lifespan of your electronic components. It’s a good idea to make sure you have adequate cooling ter place, keep an eye on those temperatures and keep hold of any warranties – just ter case.

Solo, or with the crowd?

Mining can either be a solitary venture or you can join a mining ‘pool’, where a number of people combine their processing resources and all take a share of the prizes.

It can be helpful to think of mining pools spil joining a lottery syndicate – the pros and cons are exactly the same. Going solo means you get to keep the utter prizes of your efforts, but accepting diminished odds of being successful. Conversely, joining a pool means that the members, spil a entire, will have a much larger chance of solving a block, but the prize will be split inbetween all pool members, based on the number of ‘shares’ earned.

If you are thinking of going it alone, it’s worth noting that configuring your software for solo mining can be more complicated than with a pool, and beginners would most likely be better off taking the latter route. This option also creates a steadier stream of income, even if each payment is modest compared to the total block prize.

Determining which altcoin to mine will be something else to bear te mind, however, some pools, such spil Multipool, manage this for you and switch coins based on profitability.

Installing your CPU miner

A handy lump of software called cpuminer is the easiest way to embark mining, but does require the capability to use the guideline line on your rekentuig. The program can be downloaded from SourceForge and is available for Windows (32 and 64 bit), OS X and Linux. For the purposes of this guide, however, wij are making the assumption that you are using the Windows OS.

Very first, download the suitable verkeersopstopping for your operating system. The zip verkeersopstopping can be extracted to anywhere on your hard drive, spil long spil you reminisce where it went. A good idea would be to create a ‘cpuminer’ folder on your desktop.

Writing your script

So, how to set up cpuminer with the parameters needed for your mining pool? Well, it’s usually simplest to write a one-line script (known spil a ‘batch verkeersopstopping’ te Windows) to launch the miner with the juist instructions.

To do this you will need the following:

  • The total path of the directory te which the mining program (“minerd.exe”) is stored (eg: “C:\cpu-miner-pooler”).
  • The ‘stratum’ URL of your mining pool server (eg: “stratum+tcp://pool.d2.cc”).
  • The port number of your mining server (eg: “3333”).
  • Your mining pool username (eg: “username”).
  • Your worker name or number (eg: “1”).
  • Your worker password (eg: “x”).

Now, open Notepad or your preferred text editor. Do not, however, use a word processor such spil MS Word. Next, inject the script using the following formula (note that this method assumes you are mining a currency that uses the scrypt algorithm):

begin “path” minerd.exe – -url URL:PORT -a scrypt – – userpass USERNAME.WORKER:PASSWORD

So, using the example details above, you would have produced the following text:

commence “C:\cpu-miner-pooler” minerd.exe –url stratum+tcp://pool.d2.cc:3333 -a scrypt –userpass username.1:x

Save this verkeersopstopping with a “.bat” extension, for example: “my-mining-profile.bat”.

Once the batch opstopping is saved, dual click it to activate the miner program. Your mining pool will most likely have a web-based interface and, within a few minutes, the webstek should demonstrate that your mining worker is active.

Now that you know how to mine with the CPU, let’s have a look at using your GPU.

Setting up your GPU miner

For those that intend to mine with GPUs, or USB mining devices, cgminer is the program to use and can be downloaded from the developer’s webstek – unless, that is, you’re a Mac user, ter which case you will find some unofficial binaries here.

Versions of cgminer following version Trio.72 do not support scrypt mining, and support for GPUs wasgoed liquidated te version Trio.82. Therefore, the latest version isn’t necessarily the one to download. Instead, seek out the version adequate for your needs.

Again, te this example, wij are making the assumption that you are using the Windows OS. However, if you are using Linux or OS X, the guideline line arguments (ie: the parameters) are the same. Furthermore, the instructions below once again assume you will be mining a scrypt currency.

Samenvatting the software into a folder that can lightly be found, eg: “c:\cgminer\”.

Before going any further, make sure that your graphics drivers are up to date.

Next, press the Windows key together with the “R” key, type ter “cmd”, and press “come in”. This will open the guideline terminal. Use the “cd” directive to switch the directory to the one housing the cgminer zip opstopping.

Then, type ter “cgminer.exe -n”. This will list all recognised devices on your PC. If your graphics card is detected, you should be good to go. If not, you’ll have research the steps required to decently set up your specific graphics card.

You will now need your mining pool details, just spil with the CPU mining section above:

  • The utter path of the directory ter which the mining program (“minerd.exe”) is stored (eg: “C:\cpu-miner-pooler”).
  • The ‘stratum’ URL of your mining pool server (eg: “stratum+tcp://pool.d2.cc”).
  • The port number of your mining server (eg: “3333”).
  • Your mining pool username (eg: “username”).
  • Your worker name or number (eg: “1”).
  • Your worker password (eg: “x”).

Now wij’ll make a batch verkeersopstopping again, te order to commence cgminer up with the juist parameters. Te this case, the guideline structure is:

Embark “path” cgminer — scrypt -o URL:PORT -u USERNAME.WORKER -p PASSWORD

Begin “C:\cgminer\” — scrypt -o stratum+tcp://pool.d2.cc:3333 –userpass username.1:x

Watching your miner

Now the mining software of choice is set up, you will see various statistics scrolling across your instruction line terminal. If you are using cgminer, you will see more information than you would with cpuminer. Te the case of the former, you will see information about the currency and the mining pool, spil well spil about your mining hardware. If you’re running cpuminer, you will only see references to blocks that your PC has solved, albeit, it does, at least, vertoning your hashing speed.

Maximising your power

Good news for miners who own PCs with dedicated graphics cards: it is possible to run both cpuminer and cgminer at the same time. To make this possible, add a “– threads n” argument to the minerd instruction. Here, “n” stands for the number of CPU cores that you wish to employ for mining.

Reminisce to leave one or two cores free to control your GPUs, tho’. Setting minerd to use all CPU cores will mean that the CPU will be too busy to send gegevens to the GPU for processing. For example, if you have a quad core CPU, attempt setting the “–threads” argument to “Two” or “Three”.

Mining with both GPU and CPU concurrently exposes just how much better GPUs are at mining than the CPU. Compare the hash rates shown ter the terminal windows for each of your mining programs and you should see at least a five-times difference ter hashing speed.

Related movie: Altcoin News – Trillion Dollars te Market Cap, Buy XRP, Facebook Cryptocurrency


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