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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(external link) that's always appreciated! :-)


Mining Litecoins

Please see my section all about Mining Litecoins and using pools

Why do you like Litecoins vs Bitcoins

Where 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(external link). 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:

What does a Litecoin address look like
LccybVY1ZZd8XQzSQfmBzEmpUxL1Qcs91u


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:


Page last modified on Saturday 16 of March, 2013 20:36:44 MDT