Litecoin has bot making a lotsbestemming of noise recently after a acute rise te price. It could be that Bitcoin miners are ultimately feeling the pinch of specialized mining hardware known spil ASICs. It could also be that a flood of newcomers to the crypto currency market is creating a request not just for Bitcoin but also for Litecoin. Ter any event, I’ve had fairly a few people asking about a basic guide for Litecoin mining so here it is.
Update 1/Two/2014: This guide covers Radeon graphics cards. For a guide covering NVIDA cards check out our fresh Beginner’s Guide To Litecoin Minnig With NVIDIA Graphics Cards.
If you’re not yet familiar with Litecoin or don’t yet have a Litecoin wallet I suggest you check out our guide to Getting Commenced With Litecoin. It provides a schrijven overview of the currency and a tutorial for setting up a wallet.
Litecoin mining is the process of using your rekentuig’s CPU (Central Processing Unit) and GPU (Graphics Processing Unit) to process transactions for the Litecoin network. By doing this you can attempt to solve a ‘block’ which pays out a prize. Presently the Litecoin prize vanaf block is 50 Litecoins.
Unlike Bitcoin, CPUs can still contribute enough hashing power to be significant to Litecoin, tho’ this may quickly switch. Te fact, this wasgoed one of the original vormgeving features of Litecoin. Because Litecoin uses a scrypt encryption algorithm there is a much smaller efficiency gap inbetween CPU mining and GPU mining. For this reason the Litecoin client still has a built ter CPU mining program.
Another significant concept of modern mining is pool mining. A mining pool is a group of miner’s that pool their resources together so that they can find blocks swifter. The prize is then split inbetween the pool members based on their contributions. This tutorial uses Coinotron mining pool along with GUIMiner Scrypt and assumes Windows 7 or 8 spil an operating system.
Downloading GUI Miner Scrypt
GUIMiner Scrypt is a recently waterput together mining program similar to the popular and effortless to use Bitcoin GUIMiner. The main difference inbetween the two is that this GUIMiner is built with a Scrypt miner spil the backend. Many other Litecoin miners such spil Reaper and Cgminer (The backends for this) are more versatile but usually more difficult for beginners. For most other Litecoin mining programs you need an understanding of the directive line.
Te addition to GUIMiner Scrypt you’ll need to download and install the most latest drivers for your Graphics Card spil well spil the AMD APP SDK. If you do not have thesis installed you will likely get an error relating to OpenCL.
NOTE: GUIminer Scrypt is ter it’s Alpha phase and may still have bugs. Check this bitcointalk thread out for utter details on the miner and know issues. Also note that because GUIMiner Scrypt includes cgminer it may be detected spil malware by antivirus and malware detection programs. However, GUIMiner Scrypt does not contain malware and is safe to use. More on this ter the comments.
Once you’ve downloaded GUI miner scrypt you’ll need to create an account with Coinotron. Spil mentioned earlier Coinotron is the mining pool that we’ll be using te this tutorial. There are a lotsbestemming of other Litecoin pools out there but Coinotron is one of the lighter to use and offers numerous coins.
Once you’ve created an account with Coinotron navigate to the the my account pagina and set up a Litecoin worker (LTC) and password. This Litecoin worker and password is what you’ll be using with GUIMiner scrypt. You’ll also want to specify a payout address (i.e. your Litecoin wallet address).
Next embark up GUI miner scrypt by finding the .exe verkeersopstopping ter the folder you downloaded (I usually just leave the folder on my desktop). After you’ve gotten GUI miner scrypt up and running you’ll need to inject your settings. Your GUIminer should look similar to the one below.
One of the nicest features of GUI Miner Scrypt is that it has built ter settings for most common GPUs. Just go to the GPU Defaults tabulator and choose your GPU. After using their defaults I witnessed an increase ter hash rate of about 100 kh/s.
Once you have entered all your settings click the commence button and you should see a hash rate emerge te the bottom right corner. If you don’t or you see an error it is very likely because one or more of your settings aren’t right. Litecoin mining is much more finicky when it comes to settings that Bitcoin or Terracoin. The specific settings that you use should correspond to your particular GPU.
At this point you should be commenced mining Litecoin! Just reminisce that this version of GUI Miner is meant to work with Scrypt coins like Litecoin. If you’re interested ter Bitcoin or Terracoin our Guide To Mining Terracoin or our Guide To Bitcoin Mining.
If you’d like to get an estimate spil to how many coins vanaf day you should be earning you should check out this Litecoin mining rekenmachine.
GUIMiner Scrypt Developer
Prior to the latest release of GUIMiner Scrypt, Litecoin mining wasgoed difficult for beginners. Once you end up getting your miners going please consider donating to BitcoinTalk user TactoTime. The original thread for GUIMiner scrypt is here at bitcointalk. The addresses are spil goes after:
Disclaimer About Laptops
Mining on laptops can be a bad idea. They don’t have the cooling that desktops do and this has resulted te the death of a few motherboards with Bitcoin mining. If you have a desktop-like or gaming laptop they might be better suited. However, laptops like MacBook Pros and many ultra books don’t have a way to dissipate that much fever. It can also harm some batteries.
Thanks again for reading CryptoJunky and be sure to let mij know if you have any issues with this tutorial. If you have problems just leave a comment or send mij an email at CryptoJunky at zoho dot com.