Author Topic: Mining and Litecoin Wallet  (Read 4516 times)

Offline guestkxkxkxkxkx

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Mining and Litecoin Wallet
« on: April 12, 2013, 09:28:12 PM »
Hey guys, I am very new to the whole Litecoin experience so please bear with me. So, I will try to separate my questions in order to be better understood.

1) Can I mine Litecoins directly through the Litecoin-Qt Wallet Application? If I can, will simply hitting "Solo Mining" do the job? (I understand the "prospects" of solo mining are what they are, that is a different story. I am not asking about efficiency - yet ;) - I am just wondering if it works just like that.)

2) If I can mine through the wallet do you suggest solo or pooled?

3) I can't mine through the wallet, what other miner do you suggest? I heard the fork of GUIMiner Scrypt is fairly good, if that is your advice, what pool would you point me towards?

Thanks in advance for the answers and the help guys! It is much appreciated!

Cheers

Offline Mastergerund

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Re: Mining and Litecoin Wallet
« Reply #1 on: April 13, 2013, 01:19:57 AM »
1)  You can mine with the wallet. The functionality still supports solo mining with that client.

2) I still suggest mining with a pool. If you mine by yourself, the likelihood of discovering a block is very low, especially with the low efficiency of a CPU. If you join a pool, you can still contribute shares, and get a portion, albeit low, when the pool discovers blocks. Think of it as the difference between earning steady income for your work versus working for free for an extended period of in hopes of winning the lottery to cover your expenses.

3) Experiences and opinions vary on this topic. I use minerd with mining_proxy (for stratum support) and mine with Cryptocoin, but it was tricky to setup.

Offline goldylocks

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Re: Mining and Litecoin Wallet
« Reply #2 on: April 13, 2013, 04:34:23 AM »
You can mine directly through the wallet, either doing solo or pooled mining, however it will only mine on your cpu, and not very well. If you want to cpu mine i suggest poolers cpu miner. If you want gpu mine I use script guiminer (it uses either reaper miner or cgminer but has a gui). as far as pools i suggest litecoinpool.org or coinotron.com
LTC = LbBzDWVmwA434sJvqZcEUJD896gCanaYc2
BTC = 14saCceBSdkuhAwjvsiJcH9uxNJvPje7Pz
FC = 6pmqoQd1s2aRTMZQb9g2DT4haYa1KJtDKY

Offline guestkxkxkxkxkx

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Re: Mining and Litecoin Wallet
« Reply #3 on: April 13, 2013, 07:46:35 AM »
Hey guys thanks alot for the answers, they are much appreciated!

One last question, does anyone know when litecoinpool.org will start accepting registrations again?