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1. #HOW TO START MINING LITECOIN ON GIVE MECOINS HOW TO#
2. #HOW TO START MINING LITECOIN ON GIVE MECOINS INSTALL#
3. #HOW TO START MINING LITECOIN ON GIVE MECOINS DOWNLOAD#

#HOW TO START MINING LITECOIN ON GIVE MECOINS DOWNLOAD#

Download the free IP Scanner tool called Angry IP Scanner.Hook everything up – all 9 PCI-e connections (2 on each of the 4 hashing boards and 1 on the controller), the ethernet cable from the 元+ to your router, and the power cord and it should power on automatically. Unbox your Miner, Power supply and cables

#HOW TO START MINING LITECOIN ON GIVE MECOINS HOW TO#

Let’s walk through setting the miners up and then I’ll close with some thoughts on how to optimize their usage to maximize our profits… The upside with cheap ASIC miners of course is that if/when crypto prices do take off again, the profitability of miners goes through the roof and it can quickly ROI many times over within a single bull market cycle. The 元++ is also now available, which is a little faster and a little more expensive than the 元+ (this setup guide will apply to both models). That said, they are also much cheaper now – going for less than $600 and you can usually even reduce that further by using coupon codes you can find around the web.

With the market being down significantly since then, and difficulty still climbing as more 元’s are sold, profits have come down to around $3 per day at the time of this writing. This was primarily due to the EPIC price run that Litecoin made in 2017, going from under $3 in the beginning of the year all the way to over $300+ in the height of the crypto market in December 2017. They were actually very profitable for a long time, making around $20-$30 per day, even with rising difficulty and network hashrate. I did eventually get my hands on some 元’s, but they are nowhere near as profitable right now. Moral of that short story is to buy direct from the Original Equipment Manufacturer (OEM) if at all possible. However Amazon came through for me and I was refunded. I ended up buying one on Amazon and it turned out that I actually got scammed. The 元+ actually debuted last summer and I tried desperately to get one, but they were always sold out from Bitmain. My Opinion of the Antminer 元 ASIC Minerīack to the Antmier 元+, which mines the Scrypt algorithm, with the primary coin using it being Litecoin. For example, in Monero ‘s case, the X3’s were used to mine other CryptoNight coins that had not forked (yet) and are actually quite profitable. So while there is some risk in buying an ASIC miner to mine a coin because it can potentially become useless, many ASICs can be quite profitable over the long run. when some person / entity controls 51% of the hash power of the network). What developers fear is that these powerful ASICs can lead to large centralized mining farms and even potentially a 51% attack (i.e. However some developers don’t like the idea of ASIC manufacturers having a say in their coin development.įor example, Monero had the Bitmain X3 developed for it (and many speculate Bitmain mined Monero successfully with it for many months), but the Monero Dev team forked the coin so that the ASICs would no longer be compatible with it. Bitcoin, Dash, Sia) have developers that are allowing ASIC miners (Application Specific Integrated Circuits) to mine their coins. Embedded content The risks of ASIC miningĪSIC mined coins (e.g.