How to start litecoin mining!

[megadarkwood]

 

 

 

 

 

"Litecoin is an alternative cryptocurrency based on Bitcoin. It differs from Bitcoin in that it targets a faster block rate (2.5 minutes) and uses scrypt for the primary hashing done in mining. MtGox announced in April 2013 that they would add support for Litecoin trading, a plan that was delayed due to recent DDOS attacks.

While scrypt was claimed to be resistant to GPU-based mining early on, GPUs are currently the most efficient hardware with which to mine Litecoins. One of the aims of Litecoin was to provide a mining algorithm that did not compete with Bitcoin.

In April 2013, Litecoin reached a market cap of $70 million and achieved a network strength above 12 gigahashes/second. This compares roughly to a network strength for Bitcoin of 12 terahashes/second."

Litecoin is still in it's infancy, it needs more support for it to get to the level of where Bitcoins are at. Bitcoins started out exactly like Litecoins, they were worth hardly anything."

 

How to get started!

 

1. Download the LiteCoin wallet software here: https://litecoin.org/

 

 

2. Run the program after the download finishes and click on "Next" :

 

 

3. Set your install path, I just left it the same, Click "Next" :

 

 

4. Click "Install" :

 

 

5. When the install is finished, click "Next" :

 

 

6. Click finish and then run the program. Wait a few minutes/hours for the wallet to sync with the transaction history:

 

 

7. When the sync is done, click on "Recieve Coins". This is where your wallet info is. Keep this open:

 

 

8. Download the GUIMiner software here: https://www.dropbox.com/s/rrhz6nlqokig18b/GUIMiner.zip

 

 

9. Open the file, and extract it to your desktop or anywhere you want to:

 

 

10. Open the folder and run the GUIMiner.exe program. Leave this open:

 

 

11. Now we will sign up at a LiteCoin mining pool, navigate to this site: http://www.netcodepool.org/index?id=1.

Click on "Register"

 

 

12. Follow the Registration process:

 

 

13. Login at the top:

 

 

14. Click on "Account Details" :

 

 

15. Copy your LiteCoin payment address into the payment address box in the account page:

 

 

16. Click on "My Workers" :

 

 

17. These fields should be filled in for you. If not, put "1" into the first field and "123" in the second one:

 

 

18. Now enter "netcodepool.org" into the host text box into GUIMiner and "3333" into the Port box:

 

 

19. Now fill in the Username and Password box (It does not matter that you know mine, if you were to enter my username and password into your miner I will just get the coins )

 

 

20. Now set your device info. "Device" means what GPU and "GPU Defaults" are the setting presets:

 

 

21. Click "Start"!

 

 

CONGRATZ! You are now mining!

 

NOTE: You can see your k/hash in the bottom right-hand corner of the program.

 

 

 

 

[megadarkwood]

Reserving this for a video tutorial I might make soon

 

(too long of a reservation?)

[Wferr]

Care to send me some litecoins

[megadarkwood]

Care to send me some litecoins

If I had any! I have not gotten my main mining rig up yet

[Wferr]

If I had any! I have not gotten my main mining rig up yet

What are you going to put in your rig?

[megadarkwood]

What are you going to put in your rig?

Hopefully 2 ASIC miners.

[Wferr]

Hopefully 2 ASIC miners.

I thought ASIC miners only mine bitcoins?

[pGuerrerox]

Hopefully 2 ASIC miners.

if you had asic you are not gonna be mining LITECOINS................ 

 

I totally suggest any new Litecoin miner to join that pool "Netcodepool" they have the best community, helpful and friendly.

 

See you around the chat.

[megadarkwood]

I thought ASIC miners only mine bitcoins?

 

 

if you had asic you are not gonna be mining LITECOINS................ 

 

I totally suggest any new Litecoin miner to join that pool "Netcodepool" they have the best community, helpful and friendly.

 

See you around the chat.

Yes I am going to mine bitcoins, this is just a tutorial on how to mine litecoins.

[TheSLSAMG]

Is it normal that it takes a while to start? I am on a wireless connection.

[megadarkwood]

Is it normal that it takes a while to start? I am on a wireless connection.

Yes, It took quite a while to start on my laptop over a wireless connection also, try a wired one.

[ChillKyle]

Thanks for the screenshots and tutorial. Hopefully I can mine with with my GTX 760

[Luc401]

Thx for the tut !

[Crazyroccobuilds]

Thanks!

[nickpc]

thank you 

[Luc401]

Running my rig, gtx 670 thread concurrency 8192 workersize 256 intensity 10 vectors 1 gpu threads 1 35Khask/s i think that is bad LOL  Under 100% load my gpu is at 56c

[DarrenP]

Running my rig, gtx 670 thread concurrency 8192 workersize 256 intensity 10 vectors 1 gpu threads 1 35Khask/s i think that is bad LOL  Under 100% load my gpu is at 56c

Found your problem. 

[Luc401]

Found your problem. 

Yeah.. well i have a 3750 sitting in a draw think it could do better? or should i just buy a 7970 for like 250

[RuecanOnRails]

Yeah.. well i have a 3750 sitting in a draw think it could do better? or should i just buy a 7970 for like 250

 

You can check various hashrates of other cards and settings here http://litecoin.info/Mining_Hardware_Comparison That hashrate is rather low, make sure you're using Cudaminer for Nvidia GPU's https://bitcointalk.org/index.php?topic=167229.0

[Luc401]

You can check various hashrates of other cards and settings here http://litecoin.info/Mining_Hardware_Comparison That hashrate is rather low, make sure you're using Cudaminer for Nvidia GPU's https://bitcointalk.org/index.php?topic=167229.0

ah i was using guiminer.. thx

[RuecanOnRails]

ah i was using guiminer.. thx

 

Guiminer should include cudaminer, if you add another worker/card there should be a drop down menu to select between a few miners.

[Mcdoorknob]

THANK YOU SO MUCH

[technovore]

It appears I can't connect to the server:

I set up my account correctly, what could be the cause?

[Giggitygoebbels]

I have a 650Ti,i think i will only get 1 Litecoin a month or even longer.

[megadarkwood]

It appears I can't connect to the server:

I set up my account correctly, what could be the cause?

turn "Stratum" off.