Missed out on making millions with Bitcoin (what&rsquo,s Bitcoin, you ask)? Don&rsquo,t worry &ndash, you&rsquo,ve still got time to leap ter on alternative cryptocurrencies, like Litecoin and Feathercoin. Thanks to a different algorithm at the core, those can still be mined by anyone with a graphics card &ndash, expensive ASIC Bitcoin miners won&rsquo,t work. What are you waiting for?!
Kannon published a tutorial back te July about getting commenced with Litecoin Missed Out On The Bitcoin Gold Rush? Get Ter On The Litecoin Silver Rush Instead Missed Out On The Bitcoin Gold Rush? Get Te On The Litecoin Silver Rush Instead If you missed the Bitcoin mining craze and still want to get te on pick-axing a virtual currency, you&rsquo,re ter luck! Ter 2011 Litecoin established itself spil a major player within the world of electronic. Read More , but the software contraptions have improved since then, so I thought it would be worth publishing an update. One point to note is that at the time of Kannon&rsquo,s article, Litecoins were worth less than $Three, they&rsquo,ve now enlargened to Ten times that value and are significantly more difficult to mine. If you were paying attention, unlike mij, then congratulations on your freshly acquired fortune &ndash, hold onto them!
Disclaimer: There are a loterijlot of alternative cryptocurrencies out there, some of which are attempts to get rich quick by the coin&rsquo,s creator. I&rsquo,m suggesting Litecoin because it&rsquo,s the next largest cryptocurrency that&rsquo,s still possible to mine, but obviously I can&rsquo,t ensure the entire cryptocurrency bubble won&rsquo,t be a finish failure and be banned te every country te a few years. That&rsquo,s exactly what stopped mij mining Bitcoins two years ago now, a decision I clearly regret. Worst case script, you&rsquo,re investing te a nice gaming machine. If you&rsquo,re willing to take a gamble on other cryptocurrencies, check CoinWarz for an up-to-date profitability list and limit your search to &ldquo,Scrypt&rdquo,-based currencies &ndash, those can all still be mined using graphics cards.
Very first, you&rsquo,re going to need a good graphics card. It is possible to mine using a CPU, but it&rsquo,s so ridiculously slow it&rsquo,s just not worth it, even with a top-of-the-range CPU. ASICs designed for Bitcoin mining are also ineffective due to the different algorithm used to mine Litecoins. That&rsquo,s the thing about ASICs &ndash, they&rsquo,re truly good at one dedicated task and futile at anything else.
AMD Radeon cards (like this XFX AMD Radeon HD 7750) are overwhelmingly better than equivalently priced NVIDIA cards due to the different architecture (more, slower processors, spil opposed to fewer, swifter processors), spil well spil a particular math operation that can be done ter one cycle on AMD but requires Three cycles on NVIDIA cards. Reminisce, wij&rsquo,re not talking about gaming there, so this certainly doesn&rsquo,t mean AMD cards are better than NVIDIA at gaming spectacle, purely ter terms of the math required to mine crypto currencies.
Of course, running a high-end graphics card on total flow 24/7 requires a loterijlot of power, so much, ter fact that unless your graphics card produces more than a certain rate of kilohashes vanaf 2nd, you&rsquo,ll be making a netwerken loss due to power costs (unless your power is free, te which case, have at it with anything you&rsquo,ve got). Therefore, it&rsquo,s significant you either invest ter a fresh card, or accurately check what your current card is capable of.
The easiest way is to check the Litecoin mining hardware comparison chart and see if your card is listed &ndash, take the lowest figure there spil a realistic estimate of what you can achieve lightly, which will give your calculation a little slagroom for error and permit for idling time due to network issues, etc. Buttplug that number into this calculation device, along with an estimate of power consumption and power costs for your area, and out will come an idea of how much &ldquo,profit&rdquo, you&rsquo,ll be making &ndash, but bear te mind the difficulty will increase rapidly.
For a more realistic treatment to Return-On-Investment rather than daily profit, check out this Reddit thread.
At this point, it may be badly evident that you may even end up making a nipt loss with your current setup.
For this reason, I invested te a fresh graphics card, a top of the line AMD Sapphire Radeon R9 290. It hits a sweet spot inbetween power consumption, and production rate, even tho’ the purchase cost is fairly high. It&rsquo,s not just the graphics card, of course &ndash, the fresh card required more power than my 350 watt PSU could provide, so that&rsquo,s another $100 for a fresh PSU.
Join a Pool
You could mine solo, but it&rsquo,s firmer, more work to set up, and the prizes aren&rsquo,t spil reliable. Joining a pool means you get paid for all the work do you, whether or not you actually find a block, it&rsquo,s like a lottery syndicate. Check out the current list of mining pools here. Once you&rsquo,ve joined a pool, you should find somewhere to &ldquo,manage workers&rdquo,. From that pagina, you&rsquo,ll find a worker name and password (leave it spil x, you don&rsquo,t need one), and there should be a list of that pools servers somewhere too. Note thesis all down.
The mining scripts are available for Windows spil Kannon described before Missed Out On The Bitcoin Gold Rush? Get Te On The Litecoin Silver Rush Instead Missed Out On The Bitcoin Gold Rush? Get Ter On The Litecoin Silver Rush Instead If you missed the Bitcoin mining craze and still want to get ter on pick-axing a virtual currency, you&rsquo,re ter luck! Te 2011 Litecoin established itself spil a major player within the world of electronic. Read More , but I experienced so many driver problems and variations te show that it just wasn&rsquo,t worth the trouble. BAMT is a Two GB linux distro that boots off USB &ndash, it&rsquo,s dedicate to the task of mining, and it does it well. Why mess around? After two days of thinking I had a dud card &mdash, mining would work for a few minutes then any tweaks would kill it and require a finish re-install of Windows (yes, earnestly) &mdash, I wasgoed up and running with a BAMT Live USB ter Ten minutes. Earnestly, don&rsquo,t use Windows.
Forgive the bad photo &ndash, my Linux screenshot abilities are basically non-existent
At the time of writing, the latest Litecoin enabled BAMT is version 1.Two and it works fine with my R9 290 graphics card, with no driver updates. If you have a newer card, you may need to perform some updates. Download Litecoin BAMT here, and use Win32 Disk Imager to burn it onto a Two GB USB flash drive. Boot from it, and presto &ndash, you&rsquo,re mining. Unluckily, you&rsquo,re mining for someone else since you toevluchthaven&rsquo,t set it up with your own addresses yet. Do that now.
Note: If you&rsquo,re programma on only using LTC Rabbit, they have their own customised version of BAMT which you might want to look into &ndash, the surplus of thesis instructions should still apply.
Using BAMT Headless
Loom ter via SSH &ndash, the IP address should be shown on the BAMT desktop &ndash, spil goes after:
The default password is &ldquo,live&rdquo,.
Switch to superuser mode:
Initial configuration needs to be done by editing the /etc/bamt/cgminer.conf
Read below for details on what to waterput te this opstopping, but at the very least adjust it to use your mining pool login credentials. When you&rsquo,re done, save the opstopping and restart the mining process with:
To view the cgminer output and make interactive switches, run:
Note the number you find next to the CGMiner process. &ldquo,Link&rdquo, to that screen with the guideline (substituting 8213 with the number your screen output reported).
From there, you can come in interactive mode, or just keep an eye on your card.
Here&rsquo,s a sample output:
The interactive text menukaart permits you to switch settings without permanently adjusting the config verkeersopstopping. For exactly, to thrust the GPU memory clock to 1300, you would press G ->, C ->, M ->, 1300 ->, Come in.
Before you do anything else, open the cgminer.conf opstopping for editing. Right now it has someone else&rsquo,s mining pool details ter there, so you&rsquo,ll need to switch that spil soon spil possible and restart. Note that the user entry is a concatenation of your username on that mining pool, a period, and the worker name, the password is usually just x &ndash, don&rsquo,t come in your actual mining pool password &ndash, this is just for the worker.
If you&rsquo,ve only joined one pool, delete the details for the extra one, and liquidate the comma that&rsquo,s presently separating the two. At some point, you&rsquo,ll want to join an extra pool spil a failover ter case the very first one is down or does&rsquo,t have work units available.
This opstopping is JSON format, so each property and value vereiste be surrounded by dual quotes, and a single colon (:) separates the &ldquo,property&rdquo,:&rdquo,value&rdquo,. Inbetween property value pairs, you need a comma.
The precies settings you should use will vary by the graphics card &ndash, you can search on Google to find something suitable. Here&rsquo,s some general advice to keep ter mind:
- Force is a basic measure of how hard to work the graphics card, from 0-20. The swifter you work it, the sexier it will get.
- You can keep the temperature onveranderlijk by setting auto-fan to true and defining a temp-target (a target temperature to maintain). When it goes past this, you&rsquo,ll hear the ventilatoren whack into total deepthroat.
- Keep the GPU engine clock lower than normal, and keep the memory clock spil high spil possible (whilst still being stable) &ndash, you&rsquo,ll need to proefneming with your graphics card to find what works best.
- Don&rsquo,t run at 90 Celsius the entire time unless you want to significantly reduce the life of your card.
You should have no trouble finding a suitable configuration for your graphics card, so a quick search on Google will comeback lots of possibilities to attempt. Here&rsquo,s a sample one for R9 series cards. Setting up numerous cards is more difficult, but not unlikely.
Eventually: Get a Wallet
At some point you&rsquo,ll want to be paid, and for that you&rsquo,ll need a wallet to &ldquo,receive&rdquo, the payments. Your wallet is an application which keeps updated with the network, synchronising transactions. Since your mining machine may be regularly upgrade, reformatted, or otherwise messed around with, it&rsquo,s a good idea to download the wallet to a more reliable machine that you keep backed up. Head overheen to litecoin.org and download one suitable for your OS. Alternatively, you can store your currencies te an online currency exchange wallet such spil BTCe.
The very first few hours your wallet will be out of sync, meaning it&rsquo,s still catching up on all the previous transactions.
You can check the Help ->, Debug window spijskaart to see the block chain information. When the &ldquo,Last block time&rdquo, is harshly the current date, you&rsquo,ll be ter sync again. While out of sync, none of your transactions will voorstelling correctly, so if you&rsquo,ve transferred some te already you&rsquo,ll need to wait.
Cryptocurrency theft has made malware and hacking even more viable than everzwijn &ndash, now there&rsquo,s actual money sitting on your pc, and not just private information. Ter some cases, people have lost thousands of coins. For this reason, you&rsquo,ll want to encrypt your wallet from Settings ->, Encrypt Wallet. Absolutely don&rsquo,t leave behind your passphrase, obviously &ndash, that would be like losing your real life wallet with contant ter it.
I&rsquo,m most likely not going to make a gigantic amount of money mining Litecoins, but my ageing GeForce 7800GT wasgoed due an upgrade anyway to get ready for the VR revolution Five Signs The Oculus Rift is Going To Be A Storming Success Five Signs The Oculus Rift is Going To Be A Storming Success Oculus Rift is going to switch gaming, forever – the hype hasn’t just fizzled it, it’s bot sustained for the past year and only growing. The age of VR is now upon us, immersive practices. Read More . Did you take Kannon&rsquo,s advice back ter July? Are you still skeptical of cryptocurrencies, or are you ready to have a go for yourself?
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i dont see FirePro W9000 ter there
Well thats because you’re the only person ter the world who can afford a $3700 gfx card.
is there a Verbinding i want to see on those Work Station GPUs Chart
I’m not truly sure what you’re after, but this wasgoed the hardware comparison chart linked to te the article: https://litecoin.informatie/Mining_hardware_comparison
I truly wish websites would zekering providing free advertising to the scam that is digital currency like Bitcoin, Litecoin and the like.
THE ONLY PEOPLE WHO MAKE MONEY FROM THIS ARE THE ORIGINAL COMPANIES AND YOUR Electrified PROVIDER
I hope you’ve used your real email address, but please – do explain *why* you think BitCoin is a scam. Compared to say, your dollar currency (sorry for assuming you’re american) – which is just printed lumps of paper, not backed by gold, which can be arbitrarily printed at any time. Anything can be a viable currency if people believe it has a value – currency is a collective illusion.
For Your Information, there are no “original companies”, tho’ there is one person who created bitcoin that has profited frantically. Other than that, most of the fresh coins were announced on a forum with no pre-mine, so everyone had a fair chance at “creating” them. Your only valid point is the power companies.
Also, I have a real job, thanks.
Dogecoin – I originally read that spil Dodge Coin. You can imagine my skepticism. But why are you interested te Dogecoin? Besides the fact that dogs are awesome. I’m not sure how it differentiates itself from the alternatives.
Reminisce your vraaggesprek with John (I think) from Bitcoin Friday? He mentioned that the only cryptocurrencies worth investing te are those that suggest something that distinguishes them from Bitcoin. He meant that spil a depository of value Bitcoin is king, because it’s the most well established. But te terms of suggesting ACTUAL value the best had to actually do something unique. He wasgoed specifically talking about Crypto like Namecoin, Primecoin (I think that does something) and Devcoin. I’m going to dump my shares of Feather and Lite and attempt something actually useful for a switch. And write about it!
I’ll also likely write opinion lumps spil to why. But basically John wasgoed totally right. Wij’re throwing away GPU cycles and power. Why such waste?
I’m gonna defer to you on this one ultimately, since you were ter the spel far earlier than mij. I’ll opoffering two reasons:
1. Bitcoins were pre-mined, which means someone is unfairly sitting on billions of dollar worth. Fresh coins aren’t pre-mined, so everyone gets a fair chance.
Two. Bitcoins are so inflated that you have to begin trading te micro-bitcoins. That’s just boring, frankly. I can have Eighteen,000 dogecoins that are worth like $Ten at the ogenblik, but that’s a entire lotsbestemming more useful to just throw around than transacting te thousandths(?sp?) of a coin.
Spil long spil I can trade the coin, and it has a value on an exchange, I’m not sure why thats a waste. I do hope te the end that wij lodge on only a few currencies so the prices can stablisise – but then how many “real” currencies are there te the world? Do they not co-exist peacefully?
Anything which takes control away from our omkoopbaar and worthless governments is a good thing!
Hi James! Very nice and informative article. I just want to know – Is it still possible to mine Bitcoins on a regular PC (Core i7, AMD GPU)? Which other cryptocurrencies are worth mining according to you? Because other than Bitcoin there are many like- LiteCoin, FeatherCoin, DoggeCoins etc.
Bitcoins are unlikely to mine on PC, spil are any currencies based on the same algorithm (SHA256d?) – so that rules out peercoin, beta coin, unobtanium etc. You can mine anything based on Scrypt – dogecoin, feather, litecoin (however very difficult now, not much profit). Check out CoinWarz.com, inject your informatie, and exclude any based on the left sha256d katern, only enabling script based currencies ->, like this: http://www.coinwarz.com/cryptocurrency/?sha256HashRate=1000.00&sha256Power=500.00&sha256PowerCost=0.1000&scryptHashRate=700.00&scryptPower=500.00&scryptPowerCost=0.3000&sha256Check=false&scryptCheck=true
Hey James! But I have seen many people mining Bitcoins from their PC. Maybe I am totally wrong but I doubt after reading this: http://techcrunch.com/2013/04/08/how-to-mine-bitcoins/ and this one also: http://startbitcoin.com/. Which cryptocurrency you are mining right now? Is it a good practice to begin mining cryptocurrencies because it sounds effortless (standing far away).
Yes, you’re wrong, but let mij clarify why: it is technically possible to set your pc to mine bitcoins – but you would pay more for violet wand than you would build up te bitcoins due to the difficulty increases. It is so inefficient that you would simply be throwing away contant – real contant, not virtual stuff.
Right now I’ve joined an auto-pool which switches the currency automatically based on profitability, so I’m not mining any specific coin. It automatically trades and sends mij bitcoins.
Hey James! That’s indeed good that you have joined Automaat Pools. Can you please list some of them. I have seen many by searching on Google. But they don’t seems legit. Can you list those ones, which you are using? Thanks!
Using middlecoin.com, seems legit but toevluchthaven’t had a payout yet since I only embarked yesterday. I wasgoed playing with hashco.ws, but wasgoed getting a reject rate of 50% for some reason.
I have a limited gegevens project 4Glte, 20Gb, because I live just a few miles from town. (technically rural) Can someone tell mij how much gegevens this would use overheen my ISP?
Also, I have a XFX Radeon 5870 GPU and Intel Core2 Twee Trio.3Ghz. It looks like that would work spil far spil processing would go. From what I’ve researched so far. Mining doesn’t sound like it’d pay off vs energy and equipment.
I like the article te at least it got mij to research despite what I’ve read from some others. This is fresh to mij.
Some estimates say 2mb/hour, some say 300mb/month – for mining, that is. Best thing to do would be to measure using your system monitor.
If you run a local client wallet tho’, that will take a few gigabytes/month, so I’d advise you to use an online wallet and not a local one.
Excellent writeup. I still have a feeling ter my gut that Bitcoin/Litecoin/etc. will burst soon, which is keeping mij from being too invested ter that entire economy.
Well, I thought that Three years ago. Loser mij once, shame on you! Idiot mij twice, well . you can’t idiot mij twice!
@ Darth, you can do that spil well just by registering for a litecoin wallet and find a webpagina where you can purchase litecoins.
One thing this article doesn’t mention is Nvidia cards, which I’d like to help anyone who has one here now.
Very first, Nvidia cards are slower than ATI cards, so the problems are that even if you have one, you can still mine Litecoins if you so choose, but be ready for slower comes back because the Nvidia cards process the ingewikkeld calculations slower. Why? Because ATI cards are built for processing better than Nvidia. Now, this might switch ter the future, but for now, ATI is the way to go if you are attempting to get a card for mining independently.
But what if you’re already stuck with a high-end Nvidia card or even a low one and you want to mine with it? The costs aren’t going to look good, unless you get tens unit for free then you can still mine with it. How?
Very first get that Litecoin wallet.
Next, if possible, make sure that you have the latest CUDA-Miner, which should be from 12-10-2013 version. Download it, unzip it, and prep it.
Next you’re going to want to create a .BAT verkeersopstopping for onderstel embarking out. It will look something like this:
cudaminer.exe -o stratum+tcp://usa.wemineltc.com:80 -O 01jdzeug25.1:XYZ
cudaminer.exe -o stratum+tcp://usa.wemineltc.com:3334 -O 01jdzeug25.1:XYZ
Now, please recall that at the end there you waterput the USERNAME:PASSWORD of your worker setup. But if you’d like you can waterput mine ter there and run it spil a test if you like to at least see if it works and you’re getting ACCEPTED files. Of course, I’ll get the LiteCoins, but if you’d like to run it like that for a bit, I’m ok with it. 🙂
Now. if it works, you should be ok. And I’ll get into more details on what to do after it works. If it doesn’t however, make sure your setting are keurig. Also make sure you have downloaded the latest CUDA drivers from Nvidia, spil that will help. AND make sure you’ve registered for the mining pool webpagina you want to work with, spil you can’t mine without it. I recommend WeMineLTC.com, spil it’s bot solidly producing for mij, but ultimately you can find your own webpagina or stick with my suggestion. Some sites have better active setups suggestions to help you get set up.
Now, let’s say you did all of this, you’ve got your LiteCoin Wallet setup, your miner setup at the mining pool where you registered, you’ve waterput te your basic mining informatie into the CUDA miner, and you can see you are accepting files and see your progress is working and you are accumulating LiteCoin on the mining webstek.
The next step is to see what your setup is on CUDA miner. Let’s take an example. Say you embark up and dual click your .BAT verkeersopstopping to embark, and you see the startup. For example I have a GTX 580 Nvidia card that’s overclocked with 1.Five Ghz of Ram on it. When the CUDA miner starts up, it set up and auto-tuned itself to an F32x8 setting. Record that setting for straks. Now. ter the README.txt opstopping te CUDAminer, it has what are called startup flags, things you can set the .BAT opstopping you create to begin up with so it BYPASSES the autotune startup and you can set the Force, the launch configurations so you can get the maximum potential out of the card you have so that you can mine effectively. I recommend reading that README.txt opstopping, it will help explain things a bit more.
Now, you can go back to your .BAT verkeersopstopping and redo it with the fresh flags ter your bat opstopping so that it will improve your hashrate, and when it comes to mining, having a good hashrate means being able to solve those elaborate calculations which te turn means more LTC ter your pocket. Here is how my .BAT opstopping looks with my flag setup:
cudaminer.exe -H Two -d 0 -i 0 -l F32x8 -o stratum+tcp://usa.wemineltc.com:80 -O 01jdzeug25.1:XYZ
Another thing, at this time I am typing this, there are two different version of CUDA miner for Windows, the 32-bit version (marked x64) and the 64-bit version (marked x86). Now you would THINK that the 64 bit version is the one you want to run, right?
WRONG. At this time for some strange reason, running the 32-bit version is better and gives you a Ten procent increase te accepting hashrates, and wij want to get the best hashrate possible out of our mining. So use the 32-bit version for now. Eventually CUDA miner will hopefully increase better down the road with 64-bit but for now, run your .BAT verkeersopstopping te the 32-bit version.
Eventually, I know I can’t waterput every single peak down here to help you out, but this is just an extra guide to help you mine LiteCoins with an Nvidia card. I can’t waterput down everything. Other suggestions, check out YouTube and do a search with “How to Mine with CUDAminer” and you’ll find some excellent movies to help you get embarked and explain things better for you than I could here.
And if you feel that my informatie helped, please shoot mij a donation of Litecoin, but either running the .BAT verkeersopstopping here that I’ve collective with you or you can send a donation of Litecoin to mij here:
My thanks and good luck to you ter your mining!