Hello, I've been trying to figure out how to mine bitcoin. But after some reaserch I decided that I would try to mine lite instead. I was wondering can I use my bitcoin wallet to store litecoins. Also I have been spending to better part of the last 2 weeks trying to figure out the system and all the software nessessary, but still haven't figured it out. Here is a list of all of the apps that I've downloaded.
5. Ozcoin mining
As well as a couple other apps that I wasn't able to get to open up. Could you please give me some insight on what I'm doing wrong. I'm getting so frustraighted, please help
Hmm that was a long list.
When i bitcoin mined i used bitstamp as wallet (they usually have high trade value and easy to use), and bitminter for the mining (EASY! java app click and play allmost).
However i switched over to litecoin now since it seems to be a currency on the rise=)
short litecoin mining tutorial that i use in windows:
1. Download/install AMD catalyst drivers (i use 13.3 or 13.1, depending on what rig i look at).
2. Download/install AMD APP Development drivers (2.8 version is latest and the one i use)
3. Download Cgminer (easy very stable miner client, havent tried Reaper but many are experiencing unstability with it). Just put the program folder where ever you like (i have it in my documents folder).
4. The choice should i solo mine or pool mine?
if you pool mine skip to step: 10
5. go to litecoin.org and download the client. let the client run until it is completely synced with the network (this can take some time!)
6. You now have an litecoin "wallet", if you look inside program files 86\Litecoin\ there will be an file called wallet.dat (this is YOUR wallet) if you lose this file you lose all the money=)
7. i recommend encrypting the wallet with a password that you will remember and that is not easy to crack. example 23fSEFSE is a much worse password than: look at my little pony! since the last one has more digits and requires more computation to crack...2^xx
8. now you have to configure the the litecoin qt app to understand that you want to use local servers for computation (reference thread post 1.) just put those values in a file called litecoin.conf in the c:\user\xxxx\AppData\Roaming\Litecoin (i also put my litecoin qt app in there at this point.). When you want to start the litecoin qt app. go to start menu/command and write cmd and enter. browse to your litecoin app folder and type: litecoin-qt.exe - server (tip. i just created a shortcut for the app and went into option and added the -server there) then put the shortcut on the desktop.
9. Running cgminer with solo mining=)
easiest way. create a text file (example.bat) in the cgminer folder (ps. remember to name it bat, and also check to show file extensions so you dont get example.bat.txt!)
in this file you write (dissregard () ):
setx GPU_MAX_ALLOC_PERCENT 100 (this allocates all the memory from the gpu to the program, fixed some problems with those that try to high memory size settings)
cgminer --scrypt --shaders 2048 --intensity 13 --auto-gpu --auto-fan -o http://192.168.0.2:9332
-u xxx --failover-only -o http://litecoinpool.org:9332
-u svennand.fuzzypc -p xxx (ps these needs to be changed! since this is my config on one of my rigs)
--scrypt (tells the cgminer that it is litecoin your going to mine, 100% nececery!)
--shaders (tells how many shaders the gpu has, if you have different graphicscard, u can put for example --shaders 1600,2048,1120 (which is the right config for: 5870,7970,5830)) look here for values https://bitcointalk.org/index.php?topic=92887.msg1050499#msg1050499
--intensity (tells how aggressive cgminer should use the card, i found that anything over 13 will just create way to much hash errors/hw errors, on all my rigs, on 7850 cards im not able to go over 12 before hitting high failed prosentage)
--auto-gpu (i use this since i just want the cgminer to set the engine/memory clock to the default card values, in my experience u get higher hash rate with overclocking the cards, BUT you get alot more heat/hash failed and so on, so in the end i desided that i didnt gain anything).
--auto-fan (jess it controlls the fan speed, i use this)
(this contains the adress to the computer that has the litecoin-qt app running!, when your in cgminer hit P to check that it is connecting allright to your other computer, you should also get new block on network message!)
-u and -p is the password that i have in my litecoin.conf file. remember to add each of the external computers ip to the allowed ip range in this config file!
--failover-only (this sets the remote pool that i want to connect for block updates from. in my example i use litecoinpool.org. how effective this is i do not know...). The positive thing about having a failover-only is that if your computer hosting the litecoin-qt app crashes or something all the computers will automaticly change network to the failover one! that way you will still earn litecoins! only by pool mining instead=)
--gpu-engine xxx (sets the core speed)
--gpu-memclock xxx (sets the speed of memory)
--worksize xxx (64,128,256 changing this might add some more hashrate, but not much, i left it out)
--thread-concurrency 8196 (7970, this is not necessery if you have specified shaders, also if you leave it blank cgminer will automaticly set this, check cgminer folder and look for .bin file to see the size of tc)
if you have done the extra tweaks in the additional commands i suggest you quit the litecoin qt app so that the cgminer clients reconnects to the pool instead, that way you will very soon figure out if setting those values wrong will not gain you anything.
even if the hashrate is high you¨ll just and up with hw error/stale shares and so on... when i tweaked my setting i got about 50-100 extra hash/s pr cards but a quick look in litecoinpool.org showed errors allmost up to 30-50% so i actually lost on tweaking things.
create either a wallet in bitcoin-qt or have a tradingaccount at for example btc-e.com
Check above for explanation...
cgminer --scrypt --shaders 2048 --intensity 13 --auto-gpu --auto-fan -o http://litecoinpool.org:9332
-u xxx -p xxx (this example is with litecoinpool which is pps, alternative sites is notroll.in(pps) ltc.kattana.com(PPLNS) and so on)
PPS: pay pr share, you get paid disreggarding if the pool finds a block or not (this is risky for the pool, ergo the percentage they take is higher, litecoinpool takes 4% of each block found)
PPLNS: pay pr share when block is found (no percentage goes to the pool, BUT you will not earn unless there is blocks found...)
To sum things up the only thing you need:
amd app dev driver
litecoin app (if you want an own wallet/do solo mining)
I for one has real problem desiding if im gonna solo mine or not, i got so tired of not hitting anything. went back to litecoinpool.org and two hours later i hit a block.... damnit! now im solomining again and havent hit shit=P
If you find this "short tutorial" helpfull please feel free to donate some ltc to: LdvKFFDj2WzuJcVMrMmojB1hmFKp4xSiyv, or btc to: 1CuuVGoqGQ4hTu6tkR8FQpHPepnNcFPUn2