Hi, I am trying to just get a feel for this mining thing and was wondering for a few tips.
Do not use F2Pool, they gonna merge mine Pesetacoin (PTC) and you wont see it…
Hello, I am new to mining too.
I recent got my hands on some cheap usb scrypt miners and decided to set them up and test out how exactly to mine with litecoin.
I’m using litecoinpool.org and for some reason my 144/280 kH/s miners are reading about 5kH/s (sometimes 30-40) on the site but 180-260 on my PC log (controller) for the miner. Why is it so different?
Are you usb miners faulty? (they are cooled)
you need to use cgminer…download it from github…and make sure you get the version that supports the type of miners you have…if using windows you’ll need to download “Zadig” and have that replace the driver that windows uses for the miner with winusb…recommended to use a raspberry pi and linux as majority of miners are set up using linux…in my case I am using cgminer version 4.3.5 and don’t get discouraged if you dont get it to mine right away…I highly doubt your miners are bad it just take a bit to understand whats happening when you mine…creating a batch file with the correct commands is the hardest part about mining once you have all correct drivers / dependencies installed
if using a gridseed cgminer usually recognizes them right away…sometimes you have to unplug the usb cable and then plug it back in so the “hotplug” option works (if using it) thats what I do because it just scans all my ports rather than directing it to a specific port…just make sure you add a worker at the pool before you try and connect…
lost of trial and error when learning how to mine…playing with it is what will get you best result…https://www.litecoinpool.org/beginners-guide
I cant even find how to run the cgminer … there is an option in the USB storage of the usb miner, but it opens and closes instantaneously. I cant figure it out
create a batch file or open it using command prompt…its a command line executable…not a program
right click and click add new text document when you are in the cgminer folder…then type cgminer.exe --scrypt -o stratum+tcp://litecoinpool.org:3333 - user -p password -d (devices)
open command prompt and start cgminer with cgminer.exe --help and you will see all available options…watch a few youtube videos there are hundreds on how to use cgminer with litecoinpool.org
NO MORE MINING FOR ME
I have 24 Titan cubes to sell total hashing power 1100mh/s. Urgent Moving in a small apartment downtown.
I’m new to mining as well. I call myself the sad miner, because I think I won’t mine anything I have rented some compute power to try it out, mostly on AWS but also Linode, and three laptops at home. I’m using cpuminer. I have six miners going at a total of about 800 khash/sec. I would try solo mining, but I probably need mining hardware, like the Antminers used for Bitcoin, is that right? Are older ones being sold on eBay for $100 to $300 a good way to try it out before dropping a few thousand dollars on new mining hardware?
I was thinking on the possibility of finding a block, or a probability, but I take it that would be difficult to compute because of the competitive lottery - is it that the more firepower you have to crunch those hashes, the more probability you have of finding a candidate block that has a relationship to the “target” whatever that is? I’ve tried to read the Bitcoin source and looked at slow but more educational mining software to try and understand it a bit more, but not sure if I’m really getting it. I’d like to write a pseduocode algorithm and implement my own toy miner and just see if I can get it to work. If I can explain the mining process for Litecoin and Bitcoin at a conceptual and technical level, I’d be happy with my mining experience. I don’t expect to make anything unless I go for some mining hardware later on.
I think in Bitcoin (I’m trying to find a reasonable comparison to adjust for Litecoin) what happens is that the miner collects some pending transactions in the order they arrive on the network into a pool, and selects some so that if a block is found it won’t be too large, is that roughly why the debate about a solution to the 1MB hard limit is going on?
So the mining software creates a block maybe from a template, and calculates the merkle root of the transcations from the pending pool, including a coinbase among the transactions. The header in the new candidate block contains a version number, the hash of the previous block on the blockchain, the merkle root of the coinbase + pending transactions, the current timestamp (is it updated every time a computation is done?), the target (from getdifficulty()?), and a nonce.
New block to try and add to blockchain:
–> Hash previous block
–> Merkle root of pending transactions and coinbase
–> bits (current target)
… and to try and find a new block, the miner iterates over this new blockheader, updating the nonce until it fails (rejected by network? someone found it first?) or until sha256(sha256( new blockheader )) < target? If not found, increment nonce, (adjust timestamp?), and try double hashing again until either it fails or succeeds.
If that’s correct, is mining Litecoin roughly the same thing but scrypt is added after hashing? I’m not entirely sure what the Litecoin Wiki is saying about the use of scrypt. Example code uses sha256, but near the end it seems to be saying that miners concatenate the hex strings in little or big endian, then use the scrypt parameters N = 1024, r = p = 1, and 80 bytes from previous block header which is fed to scrypt, then checked against the target.
So far I haven’t found a clear explanation of what exactly is going on with mining. I take it that a miner gets the latest block from a full node with the entire block chain, and queries some daemon for the current difficulty/target, and the daemon supplies it with some pending transactions, and then the computation is done, which is broadcast to the network if candidate_block < target.
Aside from that, when I join a pool such as litecoinpool.org and put in about 850khash/sec. and make around 0.001774308936 LTC /day, I can see it will take quite a long time to get a litecoin if the pool mines a block. Otherwise I can get a litecoin every now and then if I just keep going with some work like this, although it doesn’t seem worth it at all unless I have something like an Antminer (or several of them) for Litecoin.
Thanks if anyone can answer quesitons, and wants to keep up the discussion on being new to mining…
Have you still got the titan cubes?
Yes I do.
I just bought a rig with 4. I could add 2 cubes. Are you selling them individually? I might be interested in a 4-6 cube rig so i can have 2 rigs running.
Hi BobbyDee how much hashing for each cube? Do you have any links to specs of these? I’ve tried to look them up but not getting much at other forums. Need a good PSU for each cube? How noisy are they? Price per cube? Will you ship internationally (I’m in Australia)
Hey, Bobbydee. Wasn’t sure if you saw my last. Wanted to see if you would sell 1 or 2 of those cubes individually.
For USB miners I’d look for a solo mining pool and treat them like a lotter machine, see if you get lucky and find a block. Not sure if there is one for litecoin, I know there are at least two for bitcoin. They are low power so doesn’t cost much and if you hit a block it’s a 25LTC reward
I don’t know if they are profitable mining on a pool, and with difficulty continuing to rise I doubt they will be if they are now, which is why I’m suggesting solo mining if possible.
sorry I want to sell app of them.
Oh that would be so cool but I think I’d need thousands of dollars of electrical service installed.
and on second thought, i might have a plan… 24 working cubes? I might be able to make something happen. seriously. this is serious business I think there’s a way we can all win.