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Unless you have a few thousand dollars to invest in state of the art mining equipment, expect to only make some lunch money for your efforts, only if you mine alt coins that use scrypt not SHA like bitcoin. The most well known is Litecoin. There are some even more profitable coins for mining than Litecoin, a quick chart here from http: To get a view of active trading of bitcoin and litecoin, check out the bitcoin and litecoin charts.
Electricity in CA is expensive, I'm ratcheted by usage into a high KWh bracket of 27cents next bracket is 31cents while my inlaws are only at My single AMD machine drinks W while mining 6. If you are starting small, you either use a high end AMD video card that you already own for playing PC games, or buy one and then play video games.
Nvidia hardware is not optimized for this type of work. The down side is that the higher end AMD cards have been gobbled up by miners and prices are jacked up Dec ' Some additional hardware comparisons. Use a litecoin profit calculator and get a very rough estimate at a return. For me, I might be able to pay off the video card eventually with the profit, definitely cannot quit my day job.
So far, in two weeks pool mining with middlecoin. There are at least a couple of mining software packages, typically cgminer or bfgminerI have not tried bfgminer but I understand they are not too terribly different. The miner typically used is cgminerversion 3. The command line arguments and some of the output description you can find in the 3. Some other help interpreting the output via screenshots. First Install X on Arch Linuxwhich includes getting catalyst drivers.
Then download source, install dependencies, and build from source usually package manager will have too new a version:. For the most part, a mac is not going to do well, the laptops, imacs, and mac mini are not really set up for the prolonged heat, and usually run less powerful mobile GPU chips, but you can learn the ropes on one.
Grab a copy of smcFanControl to up the minimum fan speed while you are mining you can create a mining and a default profile. This will provide cgminer with GPU temperature and fan speed output, and may be what allows changing of GPU settings on the fly. I wouldn't run without that output enabled. A great guide from the cgminer author: You can also get some screenshots in this how-to.
Make sure you are looking at the line with the GPU on it, like After a restart of cgminer, even the total average will fluctuate a couple percent even after 5 minutes.
I did a lot of testing and went through a lot of crashes, and turns out a nearly default running with high intensity matches my manual tuning. I run with fan control to keep the GPU at a not too hot temperature, and reduced the default temperature ranges. After running, save off the configuration by pressing s for settings, then w for write to file, then you can just run cgminer.
It needs to be large enough to keep the device fully utilised yet not so overloaded that the device becomes unresponsive. The faster the GPU, the higher the sweet spot is. Solo mining is simply connecting to the distributed network and competing to provide a solution to the transaction block before anyone else.
The problem is that payout events are not often measured in minutes and you are a tiny fish in an oceans of computing power. A paper on the reward systems: Most people like PPLNSand most pools are that it seems, though there are plenty of alternatives, as this stackexchange post says. I have tried p2poolmultipooland middlecoin. Multipool was OK but having to mess with 20 coin currencies was too annoying for me. There are some python scripts floating around that do console monitoring of your progress too, such as this one that I haven't used yet, but looks reasonable.
As a side note, I ran across an interesting article about a guy that was working on the spot market for amazon with GPUs, he made some quick money before the sport market went nutty. The wallet will manage a private key, generate addresses that you can publish to receive payments, track incoming bitcoins, and transfer away your bitcoins. It is interesting that you don't actually receive bitcoins, what happens is that a coin transfer is signed by the sender's private key and your public key, which then enables you to sign the next transaction for the bitcoin with your private key and the next recipient's public key.
All the transactions are out there in the public. If you lose your key, those bitcoins are lost forever and if your key is stolen, your coins are stolen. Wallet software is generally linked off the coin's main website usually a fork of Bitcoin-Qt. For example, for litecoin, get the wallet from https: The historical block chain all the transactions ever recorded is huge and takes forever to pull from the 8 other nodes you'll be connected with. To speed things up, get most of the blockchain as a download, but first get a signed message from Warren Togami copy from https: After the wallet syncs up, encrypt your wallet, save the wallet password to something like 1Password, make sure it is a very strong password like you would have for a bank.
Table of Contents Mine Altcoins instead of Bitcoin. The down side is that the higher end AMD cards have been gobbled up by miners and prices are jacked up Dec '13 Some additional hardware comparisons.
Bitcoin difficulty The reward is 25B until Sept at which point it halves again. Litecoin difficulty Reward is 50 coins until October at which point it will be half. Pick a directory for the software build.
I set up cgminer using a homebrew recipe from nwoolls: First startx This will provide cgminer with GPU temperature and fan speed output, and may be what allows changing of GPU settings on the fly.
Set up environment variables in. Except where otherwise noted, content on this wiki is licensed under the following license: