Bitcoins at Anothergeek.ca
I'm going to assemble a number articles and information on this site as I learn about bitcoins, and begin trading them. If you are interested in Donating some CPU time to help mine bitcoins that's always appreciated!
- Creating and running your Litecoin wallet (Windows)
- Exchanging Bitcoins and Litecoins
- Exchanging Litecoins and USD
- Mining litecoins at Litecoinpool.org
- Other methods of earning bitcoins
- The LiteCoin Webminer
Mining LitecoinsPlease see my section all about Mining Litecoins and using pools
Why do you like Litecoins vs BitcoinsWhere Bitcoins are an attempt to create an online crytpography with a high degree of security Litecoins are focused around faster transactions with an acceptible amount of security to each transaction. Typically transactions in litecoins are closer to 1-2 minutes when I've used them, significantly longer especially with multiple confirmations for bitcoins. Given the recent runup in price, it makes them much more practical for transactions.
There is (as always) a great (and much better than I can do) overview of the currency on the Bitcoin wiki. No point in repeating it.
Why are you interested in Litecoins
In short, anything that I can use spare CPU cycles for at home, and earn a profit for, I'm interested in. Unlike [[Bitcoins]] you can only mine litecoins on a CPU. Thus they make a much better prospect for mining.
As an example I used to earn around 0.01 [[Bitcoins]] per week when I mined [[Bitcoins]]. I currently earn slightly more than that on a single system per day with CPU mining and litecoins.
How can I mine Litecoins using my CPU?
Mine is as follows:
C:\Users\me\Downloads\pooler-cpumine>.\minerd --algo scrypt --userpass Kroker.web:web --url http://litecoinpool.org:9332/
What does an address look like?
Well since you can have virtually unlimited, here is one of my Litecoin addresses that I use:
That is one address of mine that you could (in theory) send money to for example. Because this post is so useful.
How are you earning them
Right now I'm earning litecoins in a variety of ways:
- Mining litecoins directly using litecoinpool.org while I work (and electricity in Ontario is cheap).