Guide for Mining Litecoin and Altcoins

Mining digital currencies right from your home computer

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Even though you need high-end processors like ASIC to mine Bitcoins, there is still a possibility for mining Litecoin and Altcoins using your home computer. Here you will gain the knowledge of mining cryptocurrencies using the devices you possess.

In early days, to show proof of work based on hashing algorithm for mining digital currencies, SHA-256 or scrypt were used. Today, all the latest digital currencies tend to use scrypt.

You will need to set up a wallet to store the earned coins when you mine litecoin or mine altcoins.

Ways of mining cryptocurrencies

The two main types of mining are by using CPU (Central Processing Unit) or GPU (Graphics Processing Unit) hardware. GPUs with dedicated graphics cards are relatively faster than CPUs in mining coins. Many miners use dedicated machines with motherboards that can connect more than one graphics cards via riser cables.

Users can mine alone or with other people in a ‘pool’. Solo mining will allow to keep all the earnings, but will have lower chance of solving a block. A user joining a pool will have a higher chance of solving a block, but the earnings will be split among the group.

 

CPU Mining Litecoin and Altcoins

Installing CPU miner

The cpuminer is the ideal software to start mining using the CPU. You can install cpuminer on Windows 32 bit, Windows 64 bit, Linux and Apple OS X by downloading it through SourceForge.

 

Writing the batch file

You can set up the parameters of cpuminer in a single step. This one line batch file will launch the miner.

Parameters for the script:

  • Directory full path of the mining program [minerd.exe in C:\cpu-miner-pooler]
  • ‘stratum’ mining server URL [stratum+tcp://pool.d2.cc]
  • ‘stratum’ mining server port number [3237]
  • Mining pool username [“geroge”]
  • Miner name or number [“2”]
  • Miner password [“mine123”]

To write the script;

DO use a text editor like Notepad

DON’T use a word processor like Microsoft Word

 

Syntax of the script will be as follows;

start [path] [exe] –url [URL]:[port] –a scrypt — userpass [username].[name or number]:[ password]

Example “miner-profile” batch file with .bat extension;

start “C:\cpu-miner-pooler” minerd.exe –url stratum+tcp://pool.d2.cc:3237 -a scrypt –userpass geroge.2:mine123

Once you run the batch file, it will activate the miner program. The website of the relevant mining pool will then show your mining worker status as ‘Active’.

 

GPU Mining Litecoin and Altcoins

Installing GPU miner

The cgminer is the ideal software to start mining using the GPU or USB mining devices. You can install cgminer on Windows 32 bit, Windows 64 bit, Linux and Apple OS X by downloading it through developer’s website. You need to check and choose the proper release version suited for your GPU.

Once the software is installed, run the “cgminer.exe -n” to list out all the devices on your computer. If your graphics card or USB device is not detected, then you need to set up your device properly before proceeding.

 

Writing the batch file

You can set up the parameters of cpuminer in a single step. This one line batch file will launch the miner.

Parameters for the script:

  • Directory full path of the mining program [minerd.exe in C:\cg-miner-pooler]
  • ‘stratum’ mining server URL [stratum+tcp://pool.d2.cc]
  • ‘stratum’ mining server port number [3237]
  • Mining pool username [“geroge”]
  • Miner name or number [“2”]
  • Miner password [“mine123”]

Syntax of the script will be as follows;

start [path] [exe] – scrypt -o [URL]:[port] — userpass [username].[name or number]:[ password]

Example “miner-profile” batch file with .bat extension;

start “C:\cg-miner-pooler” cgminer.exe — scrypt -o stratum+tcp://pool.d2.cc:3237 –userpass geroge.2:mine123

Once you run the batch file, it will activate the miner program. The websites of relevant mining pools will then show your mining worker status as ‘Active’.

 

Mining stats in Command prompt

Different mining software show different statistics in the command line. The ‘cpuminer’ will show references of solved computer blocks and hashing speed. The ‘cgminer’ additionally shows currency details and mining pools.

 

Increasing the performance

The great news is that you can run cpuminer and cgminer concurrently. The cgminer has five times more hashing speed in comparison to cpuminer. Both are ideal ways for mining Litecoin and Altcoins.

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