It’s not very likely. The problem with bitcoin mining is that it’s best done with ASICs – custom chips whose only purpose is to mine bitcoins at blisteringly fast speeds. It would be possible, but you’d probably experience an overheating laptop long before your laptop could finish its first hash block of work on the bitcoin network.
It’s not worth it.
That doesn’t mean that you can’t mine altcoins, though. The same principles apply in the world of altcoin mining – custom hardware designed for a specialized task is far more efficient than general-purpose PCs, but there are plenty of alternative cryptocurrencies with much lower barriers to entry in terms of hardware requirements.
Take Dogecoin, for example. It’s a script-based coin like Litecoin, which means that you can mine it at home on your PC without worrying about SHA256 compatibility (and the need to join a mining pool) as with bitcoin. The biggest hurdle these days is the fact that most of the altcoins are worth mining (in terms of return on effort) with a CPU, but the PC you use for mining is probably going to be a laptop.
The solution, then, is a USB-powered coin miner. These devices plug into your computer’s USB port and run a cryptographic algorithm in order to secure the latest block of altcoin transactions to the blockchain – enabling you to receive altcoins as payment (if your server or website accepts them, for example).
The first step is to download cgminer. This is a program that will take your computer’s CPU power and apply it to mining for coins – but it only runs on Windows. If you’re reading this article on an Apple laptop (and why are you on an Apple laptop while trying to mine altcoins?), then you’ll need to find another solution.
The second step is the download of a program called Pooler’s CPU miner for Scrypt. This program will take your mining efforts and pool them with others in order to increase your chances of finding blocks – gaining more coins in the process. This is the program you’ll use to mine altcoins, but it’s written for Linux with a graphical interface specifically targeted at Ubuntu.
If you’re on Windows, the first step of the process is to download cgminer. Download and install Python 2.7 (if it isn’t already installed) – cgminer is written in Python, so you’ll need to have it. Download and install Win32 OpenSSL (if it isn’t already installed).
Then, download and unzip cgminer into a directory of your choice on your PC. You can also use this command: “cgminer –-scrypt ––url stratum+tcp:// –userpass user:password”.
Then, download Pooler’s CPU miner for Scrypt and extract it into a directory of your choice. You can also use this command: “python ./minerd –-url stratum+tcp:// –userpass user:password”
Next, open your mining pool account. There are dozens of altcoin mining pools, so it’s best to use an established one that has a good track record for fairness and stability. You can find lists of altcoin pools at sites like CryptoMiningFarm or CoinChoose
Then, log into your chosen pool site and click on the “My Workers” tab to create a new worker for your mining PC. You’ll need to give your worker a name (this can be anything you want) and supply a password for it – the password will not be used for security purposes, but you’ll need it in later steps when configuring cgminer.
Then, click on the “My Workers” tab and then click “Create New Worker”, giving your new worker a name and password.
Next, you’ll need to download cgminer for Windows. Download cgminer 3.7.2 (the latest version at the time of this writing) from https://github.com/ckolivas/cgminer Then, extract cgminer into a directory of your choice. You can also use this command: “cgminer- -scrypt ––url stratum+tcp://localhost:3333”
Next, right-click on the Windows Start button and select “Command Prompt (Admin)”. Type the following command line at the Command Prompt, but be sure to substitute your pool information for the appropriate text: “cgminer- -scrypt ––url stratum+tcp://localhost:3333 –userpass user:password”, where you’ve replaced “localhost” with your mining pool’s server name or address, and you’ve replaced “3333” with the port number of your mining pool and you’ve replaced “user:password” with the username and password you used when creating a new worker for your mining pool. (Note: if you don’t know your worker’s name or password, check your pool account page.) You can also use this command: “cgminer – -scrypt ––url stratum+tcp:// –userpass user:password” (without the quotes).
Next, you’ll need to edit cgminer’s configuration file. Type this command at the Command Prompt: “notepad c:\Users\YourUsername\cgminer-3.7.2-x86\cgminer.conf” (without the quotes), where “YourUsername” is your user name on your PC.
Then, click File -> Open, and open cgminer.conf in notepad. Scroll down to this section at the bottom of the file:
Replace “” with the URL of your mining pool, and replace “” and “” with your own mining pool’s username and password. Save the file. (Note: if you’re using cgminer 3.7.2, you may get an error message when trying to save the configuration file if notepad is open to c:\Users\YourUsername\cgminer-3.7.2-x86\cgminer.conf – this is okay.)
Next, right-click on the Windows Start button and select “Command Prompt (Admin)”. Then, enter the following command line at the Command Prompt: “cgminer – -scrypt ––url stratum+tcp://localhost:3333 –userpass user:password” (without the quotes).
Your mining PC will now start mining for Litecoins. You can check your hash rate by entering this command at the Command Prompt: “cgminer- -scrypt ––url stratum+tcp://localhost:3333 –ntime” (without the quotes). If everything is working, you should see a share accepted message every few seconds.
The commands to start mining litecoins are similar to the ones needed to start mining bitcoins. One small change, however, is that at the end of the cgminer commands above you need to add “–scrypt” if you want to mine litecoin. After typing in all these commands, make sure your settings are correct by opening up cmd and typing in “cgminer- –help”. This will display all the cgminer commands you can use along with their descriptions. If you are not sure about something, it is recommended that you look at this page for more details.
Using an online service called “CoinWarz” or “WhatToMine”, users are able to see what their earnings are with the current mining difficulty of Litecoin. CoinWarz also allows users to use a calculator to determine how much they would earn if they had some different setups. WhatToMine is more convenient for users, as it has alerts on hash rates, profit ratios and more.
Another method that can be used to get more accurate results is using the Litecoin mining calculator. This allows users to input factors like hash rates, pool fees, exchange rates and block times. Also, this website shows users what they could be making if their setups were perfect. For example, a user with an “AMD Radeon HD 7950 – 350 kh/s” could make a profit of approximately $8.88 a day, but the calculator will show the user their real results with factors taken into consideration.
Since Litecoin mining is very similar to Bitcoin mining there are a lot of helpful resources available on the internet that can be found by doing some research and reading up about Litecoin mining. On forums such as the Litecoin Mining and Hardware sub-Reddit, users can post about their experiences and ask questions. There are also some helpful hash rate calculators like CoinWarz that will show you what your expected results would be with a certain setup.
Butterfly Labs manufactures a line of high-speed ASIC bitcoin miner and encryption processors for use in bitcoin mining hardware and research, telecommunication and.