At the same time, there are plenty of, too. Are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs, not to mention the sheer mathematical difficulty of the process, just doesn't make it profitable for consumer-level hardware. Now, Bitcoin mining is reserved for large-scale operations only., Dogecoins, and, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners. At the current value of Litecoin, a person might earn anywhere from 50 cents to 10 dollars per day using consumer level mining hardware.

Dogecoins and Feathercoins would yield slightly less profit with the same mining but are becoming more popular daily., too, can also be a reasonably decent return on your investment of time and energy. Understanding the is probably where you need to begin; this article focuses on mining scrypt coins. Also, be sure you are in a country. Is It Worth It to Mine Cryptocoins? As a hobby venture, yes, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are very accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months.

As a second income, no, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000-$5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.

Set Reasonable Expectations If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and, then you just might have a slow way to do that with mining.

Gulden (NLG), formerly known as. Gulden uses Kimoto's Gravity Well to adjust coin mining difficulty. Gulden Summary; Cryptocoin: Gulden (NLG), formerly. Apr 23, 2017 - But, if you want to contribute to the philosophy behind Gulden, take your first steps in altcoin mining and/or start with a LKETC miner and Raspberry Pi? Then you're at the. If you leave the miner running 24 hours a day, it generates about 0.24 NLG (at current euro rate 1 eurocent) per day. It will take 12. Gulden (NLG) Release Wallet v1.6.4.8Minor maintenence release. UI - Introduce a new informational widget and other minor UI improvements that make it move obvious to. The ultimate defence against wild fluctuations in mining hash rate. Nocks NLG-EUR Gulden Trader NLG-EUR Bittrex NLG-BTC LiteBit EUR-NLG. Want to get rich from mining Gulden? Do not read any further. Installing the Raspberry Pi + LKETC usb miner itself isn't profitable, but it's educational!

Smart miners need to keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month. The two catches are 1) the up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units, and 2) the market value of cryptocoins. Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins.

The emphasis here is on 'small chance', with small meaning 'slightly better than winning the lottery'. If you do decide to try cryptocoin mining, definitely do so as a hobby with a very small income return. Think of it as 'gathering gold dust' instead of collecting actual gold nuggets. And always, always, do your research to.

How Cryptocoin Mining Works Let's focus on mining 'scrypt' coins, namely Litecoins, Dogecoins, or Feathercoins. Einsteinium EMC2 Minning Pool more. The whole focus of mining is to accomplish three things: • Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called 'verifying transactions'. • Get paid a small reward for your accounting services by receiving fractions of coins every couple of days. • Keep your personal costs down, including electricity and hardware. The Laundry List: What You Will Need to Mine Cryptocoins You will need ten things to mine Litecoins, Dogecoins, and/or Feathercoins. • A free private database called a coin wallet.

This is a password-protected container that stores your earnings and keeps a network-wide ledger of transactions. • A free mining software package,, typically made up of cgminer and stratum. • A membership in an online, which is a community of miners who combine their computers to increase profitability and income stability. • Membership at an, where you can exchange your virtual coins for conventional cash, and vice versa. • A reliable full-time connection, ideally 2 megabits per second or faster speed. • A hardware setup location in your basement or other cool and air-conditioned space. • A desktop or custom-built computer designed for mining.

Yes, you may use your current computer to start, but you won't be able to use the computer while the miner is running. A separate dedicated computer is ideal. Tip: Do not use a laptop, gaming console or handheld device to mine. These devices just are not effective enough to generate income. • An ATI graphics processing unit () or a specialized processing device called a mining ASIC chip. The cost will be anywhere from $90 used to $3000 new for each GPU or ASIC chip. The GPU or ASIC will be the workhorse of providing the accounting services and mining work.

• A house fan to blow cool air across your mining computer. Mining generates substantial heat, and cooling the hardware is critical for your success. • Personal curiosity. You absolutely need a strong appetite for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results.

The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance.

Who doesn’t want to become the next? One thing I can tell you in advance: Gulden (or euros) will not rain down on you with the miner described in this article. But, if you want to contribute to, take your first steps in altcoin mining and/or start with a LKETC miner and Raspberry Pi?

Then you’re at the right place. Please note: Do you want to become rich in seconds? Then stop reading, cause that would be a waste of time 🙂 The miner we are going to configure isn’t profitable. What’s mining and why is it interesting? I do not go into depth how mining exactly works; I assume you’ve already read a bit about digital digging and put your first steps into the miners world.

If you want to read more about mining, you can check. To give some global clarity: All Gulden transactions are stored in the Gulden-blockchain. These transactions are verified by miners. You will probably understand: There’s no such thing as a free lunch.

In exchange for checking and calculating new blocks in the blockchain a miner receives a reward. For Gulden this is 100 NLG per block. To give some global clarity: All Gulden transactions are stored in the Gulden blockchain. These transactions are verified by miners. You will probably understand: There’s no such thing as a free lunch.

In exchange for checking and calculating new blocks in the blockchain a miner receives a reward. Bitcoin BTC Miner For Android more. For Gulden this is currently 100 NLG per block. The ingredients for our cheapass Gulden miner Free Gulden sounds good to my ears, that’s why I came up with DIY miner for as cheap as possible.

To do this you need A) a miner who is responsible for processing the calculations. B) a computer that drives the miner. For if you do not like lists: the computer in this setting will be the Raspberry Pi 3. The miner will be a the particularly cheap LKETC, imported from China. I’ll say it again: “If you pay peanuts, you get monkey.” This miner is not profitable. Raspberry Pi 3 starters kit Costs around 59 euro via (other design, same quality) LKETC asic usb miner This scrypt miner costs around 23 euro via (220 kH/s) Software • Lan Scan (freeware) • CGminer (freeware) Other hardware I assume you do have a keyboard + mouse (with USB connection), ethernet cable, hdmi cable and television / display with hdmi connection.

If not, you can purchase starter sets with the early mentioned accessories here. Alternatively, AliExpress will be your best friend.

• USB-mouse (1,50 euro) • Ethernetcable (1,50 euro) • HDMI-cable (1,50 euro) • Keyboard (9 euro) Firstly, this explanation is for Mac users, but should work for Windows users as well. Secondly, based on this explanation, someone without any knowledge of programming should be able to build a miner. Getting started Step 1: Raspberry Pi If you are well known with Lego, assembling a Raspberry Pi (RPi) will be no problem. Follow the instructions provided in the box. When done, attach the mouse and keyboard to the RPi. Grab the hdmi cable and insert one end of the cable into the RPi, the other end in a screen.

Finally, power the RPi. At the starter kit, the RPi already has an operating system, so we can turn on the RPi immediately. If everything is as should be, you’ll see some rows of letters on the screen. Nothing’s going on, just wait until a huge broom comes to light. Click the Wi-Fi icon at the top right and select your own Wi-Fi network.

Your Raspberry Pi must be connected to (wireless) internet so that you can connect with the Raspberry from your computer through SSH. You do not need the keyboard and the mouse anymore. Step 2: Link your computer to the Raspberry Pi Because the Raspberry Pi is now connected to (wireless) internet, you can access it from your Macbook or iMac. We will use the IP address of the Raspberry Pi. The IP address can be found with. Open the program and click ‘Scan Now’.

The RPi appears on the screen as ‘raspberrypi’. In this example he has IP address 192.168.1.129. Open Terminal; Here we make the connection between your Macbook and the Raspberry Pi. Enter the following command. Ssh pi@192.168.1.129 Terminal will ask for a password. That password is by default ‘raspberry’.

Type it and press Enter. The connection with your Raspberry Pi has been established! Step 3: Installing miner software Now that you’re connected to the Raspberry Pi, you can enter remotely commands. In this case that certain software needs to be installed. I’ve searched for hours to find mining software that a) works with Raspberry b) can drive the purchased miner. Lucky you: I found it! 🙂 For now we want to install a modified version of the software ‘CGminer’ on the Raspberry Pi.

Follow the following steps line by line. Note: The installation may take a while, so be patient. Enter the following commands in your terminal: sudo apt-get install screen sudo apt-get update sudo apt-get upgrade Last step can take a while, grab some coffee. Then: git clone && cd cgminer-lketc.git sudo apt-get install build-essential autoconf automake libtool pkg-config libcurl4-openssl-dev libudev-dev libjansson-dev libncurses5-dev libudev-dev libjansson-dev./autogen.sh./configure --enable-scrypt --enable-lketc && make Yes, you just installed a version of CGminer on your Raspberry! Step 4: Choosing a Gulden mining pool Now that the custom version of CG Miner has been installed, you can theoretically start with mining. All we have to do is find a mining pool.

In a mining pool, miners jointly search for the next block in the blockchain; Joint search = joint computing power = a greater chance of finding a block = being jointly rewarded. On the Gulden website you will find several mining pools.

Choose a pool where many miners are connected, as that will increase your chance of finding a block (and getting a reward). When you’re new to mining, for starters I recommend, because there you can also check if your miner works properly. At Coinpool there is a simple manual, which I will describe in my own words for convenience. Add to Terminal: Example sudo./cgminer --scrypt --lketc-clock 220 -o stratum+tcp://coinpool.nl:20000 -u *Gulden-address for receiving reward* -p a *random password* Which means sudo./cgminer --scrypt --lketc-clock 220 -o stratum+tcp://coinpool.nl:20000 -u GZANXTBDuLUka46NreA4bovGuUuNa5e2hT -p asdfasdf Step 5: Let the mining begin Congratulations! If it’s ok, your miner can start working! Return to Terminal and fill in the above rules (note: replace the Gulden address and password:-)) screen bash Screen bash keeps your miner running when you close Terminal. Cd cgminer-lketc sudo./cgminer --scrypt --lketc-clock 220 -o stratum+tcp://coinpool.nl:20000 -u GZANXTBDuLUka46NreA4bovGuUuNa5e2hT -p asdfasdf If you’ve followed the steps above, you will see the commands in Terminal showed below.

That means: Your miner works! As you can see in the animation above, my LKETC miner helps to calculate the blocks. Coinpool shows you very user-friendly how much your miner has helped.

As you can see, my worker is number 7 of the 8 miners who perform in the mining pool. Mine other altcoins With this setup you can basically also mine other altcoins like Bata, Litecoin. If you use as a mining pool, you can even choose in which cryptocurrency you like to receive your mining reward. Note As mentioned earlier in this article, you won’t get rich from the LKETC miner (and RPi). Even ‘better’, you’re really lucky if you even get rewarded with Gulden for all the calculation your miner does.

To make it even more clear: • The startup costs are around 75 euros. • If you leave the miner running 24 hours a day, it generates about 0.24 NLG (at current euro rate 1 eurocent) per day. • It will take 12 years to earn your startup costs back (energy and internet costs are not yet taken into account. FAQ Since I have to searched for a few days to get all the answers. • Michiel, n00b, why don’t you connect the LKETC miner directly to your laptop? Pff, you’re like my girlfriend. The idea is that the miner can keep going 24 hours a day.

So if I go outside (with my laptop), the Raspberry Pi can keep things going. • My LKETC usb miner gets very hot. Is this normal? Yes, this is normal. I let him run for 24 hours and that went without a hitch. Although the LKETC has a cooling element (the type of comb on the chip), I recommend to buy a fan if you plan to keep the miner running 24/7. • Michiel, tell me more!

Please read: (Gridseed G-blade + Raspberry Pi + LKETC + Prohashing) • There is a switch on the end of the LKETC miner. With the switch you can choose the hashrate. Left is 144 kH/s, right is 220 kH/s. Please note: if you choose 220 kH/s, your miner definitely needs a fan to cool down. • When I close the terminal, the CGminer-lketc program also stops. That’s right if you forgot to install 'screen'. If you want to avoid this, you must read.

• How many Lambo’s can you buy from all the received Gulden? At the time of writing I have to disappoint you. In order to recover the startup costs (75 euro), you need to mine for the 12 years. • Michiel, what are you for unethical guy? Do we no longer show a source list? Ho, ho, ho, but, of course!

If you want to read more. Below are my sources.