Register an Account
Create an account on PooledBits
, so you can start mining!
Download a Miner
You can mine Litecoins with either a GPU or CPU (or both!).
For GPU (usually faster) mining, download the latest CGMiner. A GUI is also available.
- See here for configuration parameters
For CPU mining, download the latest CPUMiner - (forum).
- If you are on Windows, you can download a prebuilt version: 32-bit, 64-bit
- If you are on OSX, you can download a prebuilt version: here
Configure your Miner
Use the details on the left to configure the miner you're using.
How am I paid?
PooledBits uses a PPLNS (Pay Per Last N Shares) payment method with a 0% fee
. What this means is that when a block is found by the pool,
rewards are distributed to everyone based on the number of shares they contributed.
For example, if N was 1 million, and you submitted 100,000 shares, and someone else submitted 200,000 shares, when a block was found, each person would earn LTC based on the % of shares contributed.
You would earn 10% of the block value, and the other user would earn 20% of the block value.
When will I be paid?
One of the ways that we're able to offer a 0% fee pool, is we bundle payments together to save on network transaction fees. We pay out miners that are over their automatic payment threshold nightly at midnight UTC (8pm EST).
Once you reach your threshold, you'll be paid on the next payment cycle to the address you provide.
How does this compare to a PPS Pool?
Compared to a PPS (Pay Per Share) pool, rewards will be higher on average (no fees!), but will be a bit more varied. You might go a shift or two with lower than average earnings,
and then a few shifts with higher than average earnings. But on average, a PPLNS pool should have a higher payout overall.
My Miner's Hashrate, and my PooledBits Hashrate are different!
This is normal! PooledBits adjusts the difficulty of your miner to optimize speed, and reduce stress on our servers. What that means is that the higher the difficulty (faster miners),
the less often we sample the speed, and the less accurate it gets. The speed your miner reports is the correct speed, and the speed on PooledBits is only an estimate!
Need to exchange coins?
Try out Vircurex.com. They can exchange almost all of the alt-coins (including LTC)