Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.Litecoin is an open source, global payment network that is fully decentralized without any central authorities.Mathematics secures the network and empowers individuals to control their own finances.Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency.With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin.Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future.As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.Miners are currently awarded with 50 new litecoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks).

The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin.Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending litecoins.This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software.The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.It is very easy to start using Litecoin.If you have never before then you can follow these steps to test your hardware: If you want to mine Litecoins with your CPU, double click on the file "MineWithCPU.bat" from the folder "Mine Litecoins with CPU".

If your hardware can handle it, your computer will begin mining Litecoins for a test worker I've set up at the mining pool POOL-X.It could take several minutes before you get a share though.Mining Litecoins with your CPU isn't very effective, but you can experience how it works by executing this file.If you want to mine Litecoins with your GPU, double click on the file "MineWithAMDGPU.bat" from the folder "Mine Litecoins with GPU/AMD" if your graphic card has been manufactured by AMD (Ati).bitcoin jersey fundIf your card has been made by Nvidia, double click on the file "MineWithNvidiaGPU.bat" from the folder "Mine Litecoins with GPU/Nvidia".bitcoin x64If your hardware can handle it, and the miner I've included recognizes correctly the graphical card you've got on your computer, it will begin mining Litecoins for another test worker I've set up at the mining pool POOL-X.bitcoin crash business insider

It could take minutes before you get a share though.Mining Litecoins with your GPU is the way to go nowadays.There are people who have several graphic cards set up to mine Litecoins at the same time, so it might take you several days to get an entire Litecoin with a single GPU.You can experience how GPU mining works on your card by executing the corresponding file though.bitcoin crash bbcNow that you have tested your hardware and know you can mine Litecoins correctly, you may join a mining pool and change the name of my workers and the URL of POOL-X which you can see if you edit the files "MineWithCPU.bat" and "MineWith(AMD/Nvidia)GPU.bat".bitcoin time to find block calculatorWrite instead the names of the workers you created on your pool of choice and its URL:port so as you can mine Litecoins for yourself (this URL:port information is given to you when you make an account on a mining pool).bitcoin miner 100 th/s

If you don't know how to join a mining pool then this may be a problem.If you want to mine Litecoins solo (it's a possibility if you have VERY good hardware), follow these steps: Copy the file "litecoin.conf" provided in this package to your Litecoin working directory (most likely "C:\Users\YOURNAME\AppData\Roaming\Litecoin").Now navigate to the directory where Litecoin was installed (most likely "C:\Program Files (x86)\Litecoin\") and execute litecoin-qt.exe.bitcoin aliens botWait until you are fully synchronized with the network.ethereum deadExecute the file "SoloMineWithCPU.bat" from the folder "Mine Litecoins with CPU", the file "SoloMineWith(AMD/Nvidia)GPU.bat" from the folder "Mine Litecoins with GPU/(AMD/Nvidia)" or both of them.bitcoin beginners redditYour computer resources will begin mining Litecoins.

It could take you a LOT of time before you find a full block.Or maybe you are extremely lucky and find one in one minute.It's impossible to know!Note 1: the miner provided for CPU mining is Pooler's CPUminer 2.3.2, the one for AMD GPU mining is CGMiner 3.7.2 and the one for Nvidia GPU mining is CudaMiner-2013-11-15.Other miners exist which might suit your hardware better and increase your mining speed.Note 2: some antivirus programs consider all cryptocoin miners malware.The problem is that some bad people included them inside other legit packages of software so as they would mine for them on other computers without their owner's knowledge.When they were found, antivirus companies labeled them as malicious software.The era of Bitcoin mining on the GPU is dead.A year ago, a single Radeon graphics card could crank out a reasonable fraction of a Bitcoin in a single day.Today, that same GPU earns a thousandth of a Bitcoin in 24 hours, generating little value while consuming a substantial amount of power.

The shift to ASICs for Bitcoin mining mirrors the shift from CPUs to GPUs, but the market isn’t content to just turn those mining rigs off — not when there’s an alternative currency available for which ASIC miners do not exist.That alternative is Litecoin — and there’s reason to think that buyers have emptied the shelves of AMD’s Radeon hardware to build mining platforms.First off, there’s the fact that you can’t find a high-end Radeon in stock at the moment.Newegg and Amazon are both out of stock, while over at Amazon, the lowly AMD Sempron 145 — a single-core, 2.8GHz chip with a $29.75 price — is the 5th most popular CPU.Further proof of this trend is the Litecoin network hash rate, is shown here:Clearly Litecoin miners are coming online, and they’re coming online en masse.Many of these are undoubtedly Bitcoin miners switching over now that GPUs are no longer cost effective, but some of these systems are probably driven by new miners.Litecoin, like Bitcoin, is a cryptocurrency, but it’s based on scrypt, not SHA-256.

Scrypt is a different cryptographic algorithm that’s purposefully designed to be difficult to parallelize.While that hasn’t stopped it from moving to the GPU, it requires far more memory than Bitcoin mining — several gigabytes worth, as opposed to several dozen megabytes.Litecoin confirms transactions faster (every 2.5 minutes, rather than every 10 minutes for Bitcoin) and it contains more coins — 84 million coins will be found in total under the LTC protocol, as opposed to 21 million for BTC.Bitcoin and Litecoin prices tend to move together; Bitcoins stratospheric leap over the past month (it’s down from a high of $1200 but trading at $873 as of this writing) has created an odd situation where it’s easier to mine Litecoin and then convert LTC to BTC then it is to just mine BTC to start with.Nvidia users may also take note — the gap between Nvidia and AMD cards in Litecoin mining is slightly smaller than with Bitcoin, with the GTX 770 capable of up to 240 KHash/s (yes, we’re back to KHash, from MHash) as compared to about 880 KHash/s for the R9 290X.

That’s still a significant gap, but it’s better than the BTC situation, where the 680 hit just 130 MHash compared to the R9 290X’s 874MHash/s.My philosophy on mining cryptocurrencies hasn’t changed since I first heard about Bitcoin in 2011.If you want to make a bit of a play at earning a little scratch, go for it.Definitely go for it if you already own the hardware.If you think mining some coins could help defray the costs of buying a new GPU that you’re going to use anyway, then that’s probably a reasonable bet.Understand, however, the operative word is bet.In the two years I’ve been mining, I’ve gone through three pools.One became too small to sustain itself, one was DDOS’d to death, and 50BTC technically claims to still be operating, but its account system has been screwed up for nearly two months and the support staff no longer answer emails.Its FAQ on the attack hasn’t been updated in weeks.All withdrawals are frozen.Jumping into this scene, therefore, isn’t something I recommend doing on a lark, and I definitely don’t recommend investing thousands in building huge server farms to try and cash in on Litecoin.