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02 Bitcoin
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Beginner’s Guide To Litecoin Mining With
Bitcoin conspiracy theorists are
1st, 2016

w atching a ‘Bilderberg-style’ NVIDIA Graphics Cards $100 or lower

conference on a secret Caribbean $100 ~ $200
island this w eekend Posted by Bitcoin Researcher in New s ≈ L EAVE A COMMENT
$200 ~ $800
Does Bitcoin still matter? Rate This $800 ~ $1600

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State w ith Special Operations
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MinerBonafide Raises
Scrypt, NVIDIA, NVIDIA$850k for Bitcoin Polldaddy.com
graphics
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System
By CRY PTOJUNKY
Letters threatening to kill sent to
Connecticut residents in Official_Litecoin_Logo
Over the past year Litecoin has solidified its place
Bitcoin scam alongside Bitcoin as a viable digital currency.
Accompanying
As Bitcoin gains converts, increasing prices has been a deluge of new miners hoping to help run the Litecoin
entrepreneur debuts AT Mnetwork and earn some coins. Traditionally Litecoin mining has been more efficient with Radeon
GPUs, but recent improvements in mining software for NVIDIA cards has significantly increased their
National securities law efficiency.
firm No longer is cryptocurrency mining with graphics cards the sole territory of
investigates licensure of AMD/ATI/Radeon.
Coinbase’s So for all you NVIDIA card owners, here’s your guide to mining Litecoin with
Bitcoin Exchange NVIDIA graphics cards on Windows as well as a brief overview of cryptocurrency mining.

I nterpol Event to Discuss

If you’re brand new to Litecoin and don’t yet have a Litecoin wallet I’d suggest checking out our
Bitcoin's Role in I llicit Asset T rade
guide to Getting Started With Litecoin. It provides an overview of Litecoin and a guide to setting up
Bitcoin and digital currencies are
a wallet. Also note that the following guide and mining software is compatible with other Scrypt
said to be an area of focus during
based cryptocurrencies such as Feathercoin, Dogecoin and Worldcoin.
an upcoming conference organized
by I nterpol.
If you want to get started as quickly as possible with mining then skip ahead to the Installing GUI
A Possible Digital Currency
MinerScam
Scrypt section.
is Using JPMorgan's Branding
An allegedly fake cryptocurrency is
Mining Basics
using JP Morgan & Chase's
branding, prompting the bank tomining is the process of using your computer’s resources in order to help run the Litecoin
Litecoin
issue a formal notice distancing
network. Like most cryptocurrencies, Litecoin is initially distributed through block rewards, where
itself from the scam. miner’s get a certain number of Litecoins by solving a certain amount of cryptographic work.

BT CS Filing: ‘Substantial Doubt’mining could be done individually, referred to as solo mining. However, over time it became
Originally

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About Bitcoin Firm’s Future
too difficult to do individually as the probability of finding a block solo mining became very low. This
Bitcoin mining firm BT CS led
hasgroups of miners to develop what is referred to as pool mining. Today nearly all miners use pool
indicated there are concerns w ithin
mining, where they mine in groups resulting in steadier payouts.
the public company’s management
about its ability to sustain
Evolution of Cryptocurrency Mining
operations.
Originally Bitcoin was mined solely by CPUs (Central Processing Units). The original Bitcoin client
Bank of Canada: Bitcoin Could
included a CPU miner that beginners could use to solo mine. Eventually programs were developed
Create 'New Monetary Order'
that allowed users to mine with their computer’s GPUs (Graphics Processingi Units). GPUs offered
Central banks w ould "struggle" to
much faster speeds than CPUs. Following GPU mining came the development of specialized hardware
implement monetary policy if digital
such as FPGAs (Field Programmable Gate Arrays) and ASICs (Application Specific Integrated
currencies become more w idely
Circuits).
used, according to a Bank of
Canada official.
Litecoin’s original design was intended to prevent GPU mining and did so by using the memory
Amazon Starts Shippingintensive Scrypt hashing algorithm as opposed to the SHA-256 algorithm used by Bitcoin. Eventually
21 Bitcoin
Computers mining programs were developed for GPU mining Litecoin, though the difference between CPU mining
Online retail giant Amazon andisGPU
now mining remained smaller with Litecoin than it had been with Bitcoin. While there is at
least one
shipping 21 Bitcoin Computers, the company that has announced they’re developing specialized mining hardware for Litecoin,
first product offering fromnothe
one has actually demonstrated a working product yet. Today Litecoin mining is dominated by GPU
mining rigs
industry’s best-funded startup 21 and has recently become a more profitable endeavor than Bitcoin mining.
I nc.
Until recently GPU mining with NVIDIA graphics cards was much less efficient than mining with
Judge Judy T akes on Bitcoin Case graphics cards. However, a recent rewrite of some of the software involved with
AMD/Radeon
in New T V Episode NVIDIA mining has lessened the gap. While Radeon cards still offer higher hash rates, NVIDIA cards
Long-running arbitration reality T V easier to tune. If you’re looking to build a fast, high end mining rig then Radeon is still
are generally
show Judge Judy featuredthea way
caseto go. If you already have a decent NVIDIA card then the following guide will help you get
earlier this w eek involving a bitcoin
started mining Litecoin.
trader and allegations of payment
fraud. GUI Miner Scrypt Versus CUDA Miner
Meet the Dad Who Registered His
This tutorial covers two mining programs. CUDA Miner is a command line program, meaning you have
Daughter's Birth on the Blockchain
to use the command line in windows to run it. GUIMiner Scypt has a graphical user interface that
Santiago Siri celebrated the arrival
of his baby daughter Roma runsthis
CUDA Miner for you, which is easier for many people. I’ll be covering GUI Miner Scrypt first,
though CUDA Miner is covered later.
w eek in a rather different w ay – by
registering her birth on the
blockchain. If you’re comfortable with the windows command line I suggest you use CUDA Miner. GUI Miner
Scrypt currently does not output your hash rate, or mining speed, due to a small programming issue.
T aiw an Financial Regulator Saysget more feedback, and it will be easier to debug, if you use CUDA Miner. The latest
Thus you’ll
Bitcoin I sn't Banned version of CUDA Miner is also considerably faster than the latest version of GUI Miner Scrypt.
T aiw an's top financial regulator has
said that its stance on bitcoin andGUIMiner-Scrypt
Installing
digital currencies remains
unchanged despite recentYou’ll
reports.
need to download a couple of things in order to start mining Litecoin with your Nvidia GPU. For
this portion of the tutorial we’ll be focusing on GUIMiner Scrypt, though you’ll need the same
Bitcoin in the Headlines: Financial
programs for CUDA Miner. In order for GUIMiner Scrypt to function correctly you’ll need to update
T imes Ruffles Feathers
your drivers directly from NVIDIA. If you’re looking to build CUDA Miner from source you’ll need the
Media coverage shifted this w eek
developer’s toolkit listed below.
from largely positive articles to
more controversial explorations of
NVIDIA Graphics Card Drivers (Mandatory)
bitcoin and its market dynamics.
NVIDIA CUDA Developer’s Toolkit (Optional)
Wanxiang Blockchain Labs
Launches $300k Annual Grant
Program Once you have the latest drivers downloaded and installed then go ahead and download GUIMiner
Scrypt
A $50m venture fund backed byfrom Mega at the the link below.
Chinese conglomerate Wanxiang
Download GUIMiner Scrypt From Mega V0.04
has announced a new blockchain-
focused grant program.
GUIMINER_SCRYPT_SCREENSHOT
Cryptography Pioneer Nick Szabo

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T outs Blockchain T ech’s Security
Joining A Pool
Smart contracts pioneer Nick Szabo
spoke today at a developerOnce you’ve downloaded GUI Miner Scrypt you’ll have to set up an account at a mining pool. For this
conference for developerstutorial
w orking
I’ll be using WeMineLTC.com, a prominent Litecoin mining pool which incorporates several
on the public Ethereum blockchain.
modern pool mining features and has several servers located worldwide. We’ll also be using their
mining proxy program, which makes it a bit easier to setup your mining program.
Singapore PM Urges Banks to
Keep Current With Blockchain T ech
WeMineLTC Registration Page
T he Prime Minister of Singapore has
urged the country's banks to keep
Make sure to record you login credentials or choose something you can easily remember. You’ll need
up to scratch w ith technological
them to manage your account and to receive the Litecoin that you mine.
developments such as blockchain
technology.
WeMineLTC_Registration
Royal Bank of Canada Exploring
Blockchain Loyalty Program
Once you’ve created and recorded your account you’ll need to setup a worker by navigating to My
Royal Bank of Canada president and
Account -> My Workers. You can setup multiple works for multiple miners, but for this tutorial you’ll
CEO Dave McKay issued new
just need one.
comments on the blockchain at a
roundtable discussion today.
WeMineLTC_workers
Four Winners Split 44,000 Bitcoins
in Final Silk Road Auction
T he US Marshals Service has
revealed that its fourth and final
You’ll also need to download their proxy program, which makes setup a bit easier and can make
auction of confiscated Silk Road
mining slightly more reliable and efficient for you. Download stratum_proxy.exe from the link below or
bitcoins resulted in four w inners.
from this page on WeMineLTC.com.
Washington State I ssues Bitcoin
Download stratum_proxy.exe – WeMineLTC.com (Mandatory)
Warning Amid Price Volatility
Washington state has issued a new
StartofMining
w arning to potential buyers
digital currencies, citing its
First off go ahead and double click on stratum_proxy.exe in order to get it running, you should see
volatility as a potential consumer
danger. something like the below window pop up.

Visa Europe Announces Blockchain

proxy_startup
Remittance Proof-of-Concept
Visa Europe has announced it is
Once the
w orking on a proof-of-concept forproxy
a is up and running then you can open up GUI Miner Scrypt. You’ll need to setup your
new
blockchain-based remittance worker, so go to File -> New Miner -> New CUDA Miner (Must be CUDA miner, other programs
service. are not optimized for NVIDIA). Then just input the settings for you worker that you set up at
WeMineLTC.com, it should look similar to the below screenshot.
Norw egian Bank Standards Office
Plans Blockchain Summit
GUIMiner-Scrypt-Nvidia
Norw ay's financial institutions are
set to meet to discuss blockchain
technology, a note from aOnce you have everything setup save your settings and then click Start. Because of a small issue,
major
private banking standards body Scrypt will just continually say Starting in the bottom right hand corner. However,
GUI Miner
reveals. checking the proxy program should show you some activity. If you see activity similar to the below
screenshot you should be good to go and hashing.
Bitly Alternative Cred Rew ards
Social Sharers With Bitcoin
stratum_proxy
A new project is seeking to disrupt
the URL management space w ith a
Bitly alternative that rewNote
ardsyou can also check your hashrate at WeMineLTC.com via their web interface, though it can
users
w ith bitcoin. take up to 20 minutes to update and is an average over time, not exactly what speed you’re at at
that moment. If you want better stats then I suggest trying out CUDA Miner from the command line,
Bitcoin Price Declines But Rallies
covered below.
Above $300
T he price of bitcoin declined nearly
CUDAMiner
8% over the course of the day’s

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trading, falling to below $300
CUDA Miner is the command line program used for Litecoin mining with NVIDIA graphics cards. Since
before recovering at around
it is $310.
a command line program it’s not quite as beginner friendly. It works essentially the same as GUI
Miner Scrypt but requires that you setup a configuration file or pass some arguments to it when it
Meet the 5 Blockchain Startups in
first starts. If this isn’t something you’re comfortable with then I suggest you stick to GUI Miner
Boost VC’s T ribe 6
Scrypt. Otherwise you can download the most recent version of CUDA Miner from the link below.
California incubator Boost VC
recently saw five blockchain
CUDA Miner Bitcointalk Thread
startups graduate from its program
as part of its T ribe 6 class of
Download CUDA Miner From MEGA (Mandatory)
companies.
You’ll need to open up a command prompt and navigate to the folder containing CUDA Miner. Once in
the folder with the version of CUDA Miner you need for your platform (x86 or x64), then run the
following command, filling in your worker details.

“cudaminer.exe -o http://127.0.0.1:8332 -u
Username.Workername -p password”

Here are my worker credentials for example

“cudaminer.exe -o http://127.0.0.1:8332 -y CryptoJunky.NVIDIA -p

12345”

Once you’re up and running you should see something like the below screenshot.

CUDAMIner-CryptoJunky

Speed

Mining speed is measured in number of hashes per second. For Litecoin mining, the most commonly
used abbreviation is kh/s for kilohashes per second. You can check LitecoinMiningCalculator.com to
get an idea of how many Litecoin you’ll be earning based off of your hash rate.

The newest version of CUDA Miner hashes considerably faster than the older version. At the
moment, the newest version of GUI Miner Scrypt uses the older version of CUDA Miner. For instance,
using a EVGA GEFORCE GTX 660 for this tutorial, I managed to get around 127 kh/s with GUI Miner
Scrypt, and about 174 kh/s using the most recent version of CUDA Miner.

If you’re looking to get the fastest possible speed, try out the latest version of CUDA Miner or make
sure to update GUIMiner Scrypt once a new version is available.

Where To Go From Here

One thing we didn’t cover earlier is that using the proxy program is not mandatory. You can connect
to most pools directly by using a url they provide instead of a proxy and 127.0.0.1. Just follow the
instructions your pool provides you for worker settings.

At this point you should be mining Litecoin, congratulations! Once you get a little more comfortable
with mining and cryptocurrencies in general you might take a look at Dustcoin or Coinwarz. These
sites help to show which cryptocurrencies are the most profitable to mine at any given time.

If you’re interested in adding GPUs you should check out the Litecoin Mining Hardware Comparison
page in the Litecoin wiki. If you’re looking at building a high end GPU mining rig check
out CryptoBadger’s guide to building a litecoin mining rig. His guide describes how to build a linux
machine on the cheap with maximum hash rates.

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Laptop Disclaimer

Many high end gaming laptops come with decent graphics cards that are capable of mining
cryptocurrencies such as Litecoin. However, there have been multiple cases of users burning out
their CPU or melting their motherboard while trying to mine with a laptop. Laptops simply are too
compact and do not have the means to dissipate all the heat created when constantly mining
cryptocurrencies. Essentially the risk is not worth the reward and I’d strongly advise against mining
with laptops. You’d be much better off to build a low-end GPU mining rig than to risk a nice laptop.

Welcome to the Litecoin network!

8633927328_cea4ddc847_o

Questions, comments, and hash rates are always welcome in the comments! (Include a LTC address
and you may even get tipped for providing good advice!)

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