How to mine Litecoin – GPU mining
Crypto-currency price has skyrocketed lately and Litecoin seems to have appreciated even more than Bitcoin with a 400% increase te value overheen the span of last month.В If you are not familiar with Litecoin yet, it is a decentralized digital peer-to-peer currency used overheen internet based off the concepts of the popular Bitcoin. Litecoin runs on the network of users that employ it. Compared to Bitcoin where transaction confirmations takes Ten minutes, Litecoin has a swifter confirmation time of Two.Five minutes. The number of Litecoins will reach its limit when 84 million is produced spil opposed to Bitcoin’s limit of 21 million, and it’s projected that it won’t occur until 2040.
Litecoin uses a scrypt based algorithm, unlike Bitcoin’s SHA-256.The scrypt algorithm is more reliant on memory, not processing efficiency. That is the reason those specialized hardwares developed for Bitcoin mining will not work with Litecoin and making GPU mining more effective. At the uur, the most efficient card to mine Litecoin is AMD Radeon 7950В with the best hash vanaf watt ratio.
Litecoin mining guide – GPU mining
Not all graphics cards support mining, but medium range and above graphics card which is bought within the last Three years should be able to mine. Before embarking, make sure that your graphics card drivers are up to date. ATI and AMD cards will need the AMD-APP-SDK that can be downloaded here.
Step 1 : Create a wallet
To begin mining crypto-coins, you will need a wallet to store the digital currency. The client could be downloaded from theВ official Litecoin webpagina. Choose and download the Litecoin client for your operating system then proceed to install it. The client will synchronize with the network to download the blockchain which contains all transactions everzwijn performed. Recall it runs on the network of its users? It will take fairly long, so let it run while wij budge on.
I very recommend that you take some measures to secure your wallet. The Litecoin client has a built te encryption which can be activated by going toВ Settings >, Encrypt wallet. Inject the pass phrase and write it down to be kept somewhere safe. Losing your pass phrase will render the wallet worthless spil no one will be able to open it everzwijn again. You can also learn more about securing your wallet from the tutorial onВ How to create a secure wallet.
Step Two : Join a pool
Wij should look for a pool where numerous users work together to mine Litecoin and share the prizes based on work ended spil it is not viable for solo mining anymore. I will be using coinotron for this tutorial. Register for an account atВ coinotron.com. After that, loom te with the freshly created account, selectВ My AccountВ and add a worker. Insert worker name and password. Also, reminisce to changeВ CoinВ toВ LTC.
After added, you should see a screen similar to this:
Step Three : Install a mining software
CGMiner and GUIMiner are both popular choices within the mining community. I find the GUIMiner-scrypt to be very unstable so I would recommend CGMiner for this tutorial. It is a instruction based software which is a challenge to setup for very first time users. But wij will guide you through step by step and you will be mining te no time.
Download the mining software :
Samenvatting the downloaded files to C:\ for lighter setup zometeen.
Step Four : Commence mining
To commence mining you have to run the following guideline atВ cmd.exeВ :
c:\cgminer-2.11.3-win32\cgminer –scrypt -o http://coinotron.com:3334 -u <,login>, -p <,password>,В –thread-concurrency 24000В -I Ten -g 1 -w 256
- <,login>,В is your username.worker which wij have created at coinotron.com, for example my login isВ ltcminer.worker1.
- <,password>,В is the password for your worker, for example my password is set asВ pass.
- -I is power, which can be set from 0 to Legal. For mij, the optimum settings is 16 where i can get a good hashrate. At Legal, your pc will become unusable and will sometimes freeze.
- -gВ is GPU threads.
- -w is worksize.
- –thread-concurrencyВ can be tweaked but vereiste be te numerous of 64. The concurrency settings is different with each card, so make sure that it fits your card monster. For example the concurrency for 7xxx cards is 64 * (bus width of card ter onvriendelijk). В So, for a 7950, that would be 64 * 384 = 24576 and the ideal values are 21712 or 24000. You can look for your bus width here.
57xx cards: 2368-4096 (3200)
58xx cards: 4096-8192 (5600, 7168, and 8000)
5970 card: 4096-8192 (5632 or 8000)
67xx cards: 2368-4096 (3200)
68xx cards: 3008-6720 (4800)
69xx cards: 4096-8192 (5600, 7168, and 8000)
6990 card: 4096-8192 (5632 or 8000)
- –temp-cutoff sets the temperature limit before it will cutoff. The default value is 95 which should be fine for most cards.
You will see the output similar to this.
Note that the hashrate is rather low when energy is set to Ten. I find 16 energy is the optimum setting for mij. You will have to see what works best for you.
To simplify things, so you do not need to memorize all the directions each time you commence mining, you can create a shortcut on the desktop. Go to desktop, then right click on desktop and selectВ Fresh >, Shortcut. Paste the instruction te to it and create the shortcut.
Now you can commence mining lightly with the shortcut on your desktop.
If you are interested to find out about CPU mining, here’s the tutorial : How to mine Litecoin – CPU mining.