Solo mining to wallet or exchange

[bmoscato]

I have a dumb question.  I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin...  I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software?  When I pool mine, the pool allows you to create a miner (user) and password.  This portion of solo mining has me confused.

[ajareselde]

I have a dumb question.  I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin...  I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software?  When I pool mine, the pool allows you to create a miner (user) and password.  This portion of solo mining has me confused.

Any coin you solo mine, procedure is the same.
For example if ure mining litecoin, go to your /appdata/roaming/litecoin folder, there you will have litecoin.conf file.

Open litecoin.conf in notepad , and there you can see the password,username for workers etc.
Note that you can also edit those things, but after editing, shut down main wallet , and reopen.

You can search this forum for related stuff, there are plenty of threads about solo mining.

Cheers

[bmoscato]

I have a dumb question.  I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin...  I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software?  When I pool mine, the pool allows you to create a miner (user) and password.  This portion of solo mining has me confused.

Any coin you solo mine, procedure is the same.
For example if ure mining litecoin, go to your /appdata/roaming/litecoin folder, there you will have litecoin.conf file.

Open litecoin.conf in notepad , and there you can see the password,username for workers etc.
Note that you can also edit those things, but after editing, shut down main wallet , and reopen.

You can search this forum for related stuff, there are plenty of threads about solo mining.

Cheers

I guess I'm doing something wrong.  I have multiple directories for for different wallets, but I do not have *.conf files:

Bitcoin:

Code:

C:\Users\bmoscato\AppData\Roaming\Bitcoin>dir
 Volume in drive C is OS
 Volume Serial Number is 9E83-34F9

 Directory of C:\Users\bmoscato\AppData\Roaming\Bitcoin

07/22/2014  10:43 AM    <DIR>          .
07/22/2014  10:43 AM    <DIR>          ..
07/16/2014  08:49 AM                 0 .lock
07/22/2014  10:32 AM    <DIR>          blocks
07/22/2014  10:42 AM    <DIR>          chainstate
07/16/2014  08:49 AM                 0 db.log
07/22/2014  10:43 AM           364,665 debug.log
07/22/2014  10:43 AM           949,876 peers.dat
07/22/2014  10:43 AM            98,304 wallet.dat
               5 File(s)      1,412,845 bytes
               4 Dir(s)  295,898,595,328 bytes free

C:\Users\bmoscato\AppData\Roaming\Bitcoin>

Litecoin:

Code:

C:\Users\bmoscato\AppData\Roaming\Litecoin>dir
 Volume in drive C is OS
 Volume Serial Number is 9E83-34F9

 Directory of C:\Users\bmoscato\AppData\Roaming\Litecoin

07/18/2014  11:49 AM    <DIR>          .
07/18/2014  11:49 AM    <DIR>          ..
07/18/2014  11:48 AM                 0 .lock
07/18/2014  11:48 AM    <DIR>          blocks
07/18/2014  11:48 AM    <DIR>          chainstate
07/18/2014  11:48 AM                 0 db.log
07/18/2014  11:49 AM         2,479,593 debug.log
07/18/2014  11:49 AM           525,762 peers.dat
07/18/2014  11:49 AM            90,112 wallet.dat
               5 File(s)      3,095,467 bytes
               4 Dir(s)  295,898,529,792 bytes free

C:\Users\bmoscato\AppData\Roaming\Litecoin>

[FeelTheBeat]

If you don't have ***.conf then just make it yourself and you can start mining. Anyway don't believe that it is smart so solo mine bitcoin or litecoin.

[Dare]

I have a dumb question.  I have wallets for Bitcoin, Litecoin, Darkcoin and Peercoin...  I know my deposit address for all wallets, but where does the password come from that I have to enter in my mining software?  When I pool mine, the pool allows you to create a miner (user) and password.  This portion of solo mining has me confused.

When you solo mine, you create a username and password and put them in a *coin.conf file in the coin's data directory, then point your miners at the client on your computer. Solo mining on most existing coins is pretty much useless, as you won't get anything until you find a block yourself.

For reference, one of my config files looks like this:

Code:

rpcuser=Techwolf
rpcpassword=<password goes here, I'm not going to post it :P>
rpcallowip=127.0.0.1
server=1

[minerpumpkin]

Are you considering to solo-mine towards an address you received on an exchange? Don't do that, it may work, but many exchanges discourage you from doing so, just solo mine to some address you directly control (have the private key) and forward the coins to the exchange as soon as they've matured!

[bmoscato]

Are you considering to solo-mine towards an address you received on an exchange? Don't do that, it may work, but many exchanges discourage you from doing so, just solo mine to some address you directly control (have the private key) and forward the coins to the exchange as soon as they've matured!

Thanks for everyone's replies.

No, I just wanted to solo mine to one of the wallets that I downloaded.  All of them do not have a config file.  I'm going to try what Dare posted:

Code:

rpcuser=Techwolf
rpcpassword=<password goes here, I'm not going to post it :P>
rpcallowip=127.0.0.1
server=1

Is this all that is needed in a config file?

[FeelTheBeat]

Don't know if this is needed but you should add rpc port too.

Code:

rpcport=8332 (depends on coin)

[ahri]

I dont think you`ll make anything from solo mining hence pools are there for a reason.

[flyingcatt]

It's a bad idea.

[Testing123]

I dont think you`ll make anything from solo mining hence pools are there for a reason.

Not necessarily. It depends on the hashrate you have.
Also, some people consider solo-mining like buying a ticket in a lottery. The win chance is very low, but if you win, the reward is huge.

[flyingcatt]

What kind of hashrate would you need to get a coin at a decent expected time?

[FeelTheBeat]

What kind of hashrate would you need to get a coin at a decent expected time?

For bitcoin if you have 1TH/s you will still need about 2.5 years 

[Testing123]

What kind of hashrate would you need to get a coin at a decent expected time?

The equation is quite simple indeed.

Average Time (in hours) = difficulty * 2^32 / (3600 * hash per second)

But don't forget the difficulty changes (most likely going up) every 2016 blocks.

[Dare]

Are you considering to solo-mine towards an address you received on an exchange? Don't do that, it may work, but many exchanges discourage you from doing so, just solo mine to some address you directly control (have the private key) and forward the coins to the exchange as soon as they've matured!

Thanks for everyone's replies.

No, I just wanted to solo mine to one of the wallets that I downloaded.  All of them do not have a config file.  I'm going to try what Dare posted:

Code:

rpcuser=Techwolf
rpcpassword=<password goes here, I'm not going to post it :P>
rpcallowip=127.0.0.1
server=1

Is this all that is needed in a config file?

Yes, that's all you need, though you should change the username and password to something you create. The rpcport parameter is only necessary if you're running multiple instances of the daemon or multiple altcoins with the same default port, which is unlikely.

Keep in mind though that solo mining Bitcoin or Litecoin is mostly pointless without a large initial investment in hardware, as you're very unlikely to ever find a block at the current rate of difficulty increase, though it may still be possible on newer altcoins.

[akali]

I dont think you`ll make anything from solo mining hence pools are there for a reason.

Not necessarily. It depends on the hashrate you have.
Also, some people consider solo-mining like buying a ticket in a lottery. The win chance is very low, but if you win, the reward is huge.

Yeah, but what are the odds of that ever happening...