How to mine LOKI? A guide for beginners!
Thomas has been mining all sorts of coins for the last year. He has mined Ethereum, Zencash, Ethereum Classic, and Monero. Now he wants to mine LOKI. But, how can he mine LOKI?
Thomas has great faith in the future of cryptocurrencies, even though he believes most of them will turn useless, and only a few of them will survive. But, if he has some of those lasting cryptocurrencies in his crypto wallet, he might become a rich man sometime. He also likes supporting the technology with his mining-rig, and now he wants to use it to mine LOKI-coin, a coin very similar to Monero.
If you want to watch his explainer video about how to mine LOKI, check the video beneath.
Thomas wants to mine LOKI!
First of all, Thomas has to download an actual miner to his computer. For the purpose of mining LOKI, Thomas downloads the XMR-STAK miner (he used this earlier as he mined Monero as well). Once the download is complete, he unpacks the download file unto a folder on his computer.
Secondly, Thomas has to generate a LOKI wallet. He visits the LOKI Wallet Generator, and generates a brand new wallet. He carefully copies/saves/writes down the private key of the wallet, his public address, and the other data. He will need the wallet address as he sets up the miner later.
LOKI Wallet Generator
Third, Thomas has to find a good mining-pool he can join. He doesn’t look around for a long time before he discovers the Cryptoknight mining pool. They have a nice website with good statistics, so he goes with this.
Cryptoknight mining pool
Thomas is ready to set up the LOKI Windows miner
Now it is time to set up the miner. He goes to the folder in which the XMR-STAK miner can be found. He clicks the XMR-STAK.exe file and the setup process starts.
At first, he is asked if he wants to use the HTTP interface. He doesn’t care about this, but instead, he adds the port number that the miner should listen on, which is 7731.
After this, he has to give the name of the currency he wants to mine. This confuses Thomas because he cannot find LOKI anywhere on the list. The right answer to this question is, however, cryptonight_heavy
Now there will come several other questions after one another, and the first is about the pool address. Since he chose the cryptoknight pool, he adds the following address: loki.ingest.cryptoknight.cc:7731.
Following this, he needs to add his LOKI wallet address. Thomas adds the wallet address that he got from the wallet generator.
There is no password to set up, so he only types an X to the next question. After this, he is asked for a name for his rig. This isn’t needed, but Thomas decides to call it thomasstories.
There are three more questions fired at Thomas, but he answers n (NO) to all of those. The questions asked were:
Does this pool support TLS/SSL?
Do you want to use nicehash on this pool?
Do you want to use multiple pools?
Once Thomas has answered with an N to these questions the miner starts, and he is soon starting to see reports of his activity.
This is what it looks like as Thomas is mining LOKI on his mining-rig. He is happy about succeeding. By entering his wallet address to the website of the pool he can follow his earning minute by minute and also see reports about payouts.
How to turn off CPU mining in XMR-STAK?
Have you gotten your LOKI mining-rig started? Thomas wishes you all the best and hopes these instructions will help you out!