A Simple Guide to Mining Virtual Currencies

There are many virtual currencies that can be mined using a CPU or GPU. If you have a server or PC that you want to utilize to generate passive income, here is a small guide I have prepared to simplify the process. I will show you how to set it up in different OS environments: Linux (CentOS and Ubuntu) and Windows 7, which should be similar for other versions based on the same technology.

Our main focus will be mining Litecoin, as it is a stable currency at the moment and worth the effort if you only want to utilize your CPU resources. Litecoin can be considered the silver of the cryptocurrency world, while Bitcoin, similar to gold, has more value but requires more resources to mine, such as a GPU.

Ubuntu setup:

Update the node and install required dependencies:

apt-get update -y
sudo apt-get install build-essential libcurl4-openssl-dev -y

Download the source code and compile it:

cd /root
wget http://garr.dl.sourceforge.net/project/cpuminer/pooler-cpuminer-2.3.2.tar.gz
tar xzf pooler-cpuminer-*.tar.gz
cd cpuminer-*
./configure CFLAGS="-O3"
make

Move mine script to root and delete the rest:

mv minerd ..
cd ..
rm -f -r cpuminer-*
rm -f pooler-cpuminer-*.gz

There are two types of mining. The first is solo mining, where you manage your coins in a wallet created on your local machine and set your node to mine directly. The second is pool mining, which I prefer. In this method, a group of miners work together, and once a block is found, the rewards are distributed among participants based on the number of shares they contributed.

Assuming you have signed with Ozcoin you have created a worker called omdes.11, and your password is 3232, then your command to start mining should look like this:

./minerd --url http://newlc.ozco.in:80 --userpass omdes.11:3232 --threads 1

To make the miner silent and run in the background, use -q and -B parameters:

./minerd -B -q --url http://newlc.ozco.in:80 --userpass omdes.11:3232 --threads 1

A successful mining process should look like this:

Centos setup: 

Update the node and install the required dependencies:

cd /root
yum update
yum -y groupinstall "Development Tools"
wget http://dl.fedoraproject.org/pub/epel/5/x86_64/epel-release-5-4.noarch.rpm
wget http://rpms.famillecollet.com/enterprise/remi-release-5.rpm
rpm -Uvh epel-release-5*.rpm
rpm -Uvh remi-release-5*.rpm 
yum -y install python-devel screen
yum --enablerepo=remi install libcurl-devel -y

Download the source code and compile it:

cd /root
wget http://garr.dl.sourceforge.net/project/cpuminer/pooler-cpuminer-2.3.2.tar.gz
tar xzf pooler-cpuminer-*.tar.gz
cd cpuminer-*
./configure CFLAGS="-O3"
make
make -j

Move mine script to root and delete the rest:

mv minerd ..
cd ..
rm -f -r cpuminer-*
rm -f pooler-cpuminer-*.gz
rm -f epel-release-5*.rpm
rm -f remi-release-5*.rpm

 
There are two types of mining first one is solo in which you normally manage your own coins in a wallet that you create on your local machine then you set the node to mine to it. The second one is the pool type that I prefere where a group of people mine together and once the block is found everyone gets rewarded based on the number of shares they contributed:

Assuming you have signed with Ozcoin and you have created a worker called omdes.11, and your password is 3232, then you command to start mining should look like this:

./minerd --url http://newlc.ozco.in:80 --userpass omdes.11:3232 --threads 1

To make the miner silent and run in the background, use -q and -B parameters:

./minerd -B -q --url http://newlc.ozco.in:80 --userpass omdes.11:3232 --threads 1

A successful mining process should look like this:

Windows setup:

 
Download latest version ex:pooler-cpuminer-2.2.3-win32.zip from here
decompress the zip file

Open cmd
Enter the folder so for example if it is on your desktop command will be like this:

cd C:\Users\motco\Desktop\pooler-cpuminer-2.3.2-win64

Start the minig by typing the following command:

minerd.exe --url http://newlc.ozco.in:80 --userpass omdes.11:3232 --threads 1

A successful mining process should look like this:

Note: 

 
Never put all or most of your crypto coins in one wallet. Here is what happened to me, and I am sharing this so you don’t fall into the same situation and lose your investments Coinomi wallet.