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Unless you possess specific mining hardware, mining are two ways to mine cryptocurrencies: Most people put these rigs in their basement, garage or other non-lived-in space due to noise. I have an account with minergate. It was one small step for Litecoin mining history and one giant leap for me. Hashrate - This is a measure of how quickly your hardware can do the work of Litecoin mining. Litecoin depends on what Calculator Profile mining set to. This is likely due to a large diff change value which causes your predicted profitability to turn negative calculator the future.
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I would like to receive the following emails: It was one small step for Litecoin mining history and one giant leap for me. This is likely due to a large diff change value which causes your predicted profitability to turn negative in the future. In theory it all seems relatively simple and clear. You can try for yourself and share your results with us.
how to set up a scrypt mining pool
You can use this Litecoin mining calculatorto litecoin the current calculator. Bitcoin Bitcoin mining is available on MinerGate in a form of cloud mining contract. If you're mining cpuminer, you will only see references to blocks that mining PC has solved; although, it does, at least, show your hashing speed. Selling Litecoin has 4 different options: A monthly electric bill means monthly costs on top of the upfront cost of calculator hardware.
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Mining litecoin calculator
Going solo means you get to keep the full rewards of your efforts, but accepting reduced odds of being successful. Conversely, joining a pool means that the members, as a whole, will have a much larger chance of solving a block, but the reward will be split between all pool members, based on the number of 'shares' earned. If you are thinking of going it alone, it's worth noting that configuring your software for solo mining can be more complicated than with a pool, and beginners would probably be better off taking the latter route.
This option also creates a steadier stream of income, even if each payment is modest compared to the full block reward. A handy piece of software called cpuminer is the easiest way to start mining, but does require the ability to use the command line on your computer.
For the purposes of this guide, though, we are making the assumption that you are using the Windows OS. First, download the appropriate file for your operating system. The zip file can be extracted to anywhere on your hard drive, as long as you remember where it went. A good idea would be to create a 'cpuminer' folder on your desktop.
So, how to set up cpuminer with the parameters needed for your mining pool? Well, it's usually simplest to write a one-line script known as a 'batch file' in Windows to launch the miner with the correct instructions.
Now, open Notepad or your preferred text editor. Do not , however, use a word processor such as MS Word.
Next, enter the script using the following formula note that this method assumes you are mining a currency that uses the scrypt algorithm:.
Once the batch file is saved, double click it to activate the miner program. Your mining pool will most likely have a web-based interface and, within a few minutes, the website should show that your mining worker is active. For those that intend to mine with GPUs, or USB mining devices , cgminer is the program to use and can be downloaded from the developer's website — unless, that is, you're a Mac user, in which case you will find some unofficial binaries here.
Versions of cgminer following version 3. Therefore, the latest version isn't necessarily the one to download. Instead, seek out the version appropriate for your needs. Again, in this example, we are making the assumption that you are using the Windows OS. However, if you are using Linux or OS X, the command line arguments ie: Furthermore, the instructions below once again assume you will be mining a scrypt currency.
Next, press the Windows key together with the "R" key, type in "cmd", and press "enter". This will open the command terminal. Use the "cd" command to change the directory to the one housing the cgminer zip file. Then, type in "cgminer. This will list all recognised devices on your PC.
If your graphics card is detected, you should be good to go. If not, you'll have research the steps required to properly set up your specific graphics card. Now we'll make a batch file again, in order to start cgminer up with the correct parameters. In this case, the command structure is:.
Now the mining software of choice is set up, you will see various statistics scrolling across your command line terminal. If you are using cgminer, you will see more information than you would with cpuminer. In the case of the former, you will see information about the currency and the mining pool, as well as about your mining hardware.
Which way would be more profitable? Most people mine with a mining pool. You get small regular amounts of whichever coin you are mining. And what limits this? Do I need better motherboard to attach more cards? If yes, which one should I get to attach the maximum number of cards. Good machine, built to spec above. Power supply is the limiting factor on adding 4th gpu. Thanks for such an awesome post Josh.
Do you have a photo of this rig setup? Also, try re-setting your BIOS to default. If neither of those solutions work, you may need to short the presence pin as shown in this guide: Also, feel free to ask this support question over on the GPU mining subreddit: A higher hash rate means a more powerful miner.
You can use this simple calculator from Bitcoin Wisdom to determine how much money an amount of hash power will earn per month.
Hash power is not the end all for determining good miners, though. Miners use massive amounts of electricity. You want a miner that has both a high hash rate and uses the electricity provided efficiently. The Antminer S7 is also the most efficient miner available on the market, with 0.
Consider that the previous version of the S7, the S5, had an efficiency of just 0. That means the S5 uses twice as much electricity per hash as the S7. Miners generate heat, and also need to be supplied with electricity. Unless you already have the needed parts, you will likely need to purchase cooling fans and power supplies. Electricity costs can make or break any mining operation.
A monthly electric bill means monthly costs on top of the upfront cost of the hardware. In the USA, for example, most mining hardware is run in Washington State, where there is cheap hydroelectricity. Creative miners in cold areas can use the heat generated by miners to heat their houses in the winter. If the heat generated by miners will partly replace your normal heating costs, it is one way to save money and improve your chances of profitability.