Want to mine LBRY but don’t have an FPGA to do so? Follow this guide to rent hash power from Nicehash and mine with Luxor Pool.
Step 1 — Creating Accounts
Step 2 — Deposit Currency into Nicehash
In order to buy hashing power you will need some funds. You can deposit any of the below coins in. In order to submit an order, you will need to exchange your deposited altcoins to BTC.
Step 3 — Setting up the Pool
Head to the Nicehash Marketplace. If you are on the Nicehash Dashboard tab navigate to the “Hashpower Marketplace”, which you can find it in the top navigation bar. Then click on “My Pools” and + Add New Pool.
Next you need to fill out the pool details.
1. Custom Pool Name: Can be anything, for example: Luxor LBRY Pool
2. Algorithm: Lbry
3. Global Node: lbc.luxor.tech
4. Port: 700
5. Username: LuxorUsername.Workername (Workername can be anything)
6. Password: can be anything, like 123.
At the end you can test the pool to make sure everything is working. You can ping the Luxor team if any issues.
Step 4 — Renting Hash Power
Now it is time to rent your hash power from the marketplace. Go to the tab “Marketplace”, to the left of the pools tab.
- Select Lbry as the order.
- Since Luxor will automatically point your hashrate to our EU or US stratums you can rent hashrate from the market in which you can find the best buying opportunities. Then click on the “+ New Order Button”.
- Select whether you want a standard or fixed order. As implied fixed order is a guaranteed speed / price for the entire renting period but comes at a higher price. You can read more on the difference here.
- Select the Luxor pool name you created in Step 3 as your Pool.
- Set your price. It will default to a competitive price but you can change it manually. If you look to the left you can see the other orders out in the marketplace.
- Then set your limit of speed and the Amount of BTC you would like to spend on the hashing power.
- Finally place your order.
Step 5 — Monitoring States + Receiving Payout
Once you’ve started hashing, grab yourself a beer! It’ll take about 5 minutes for your worker to appear on the Luxor stats page. To find your user, login into your user account at the top of the navbar and navigate to the Workers section. You should see something like this:
You can then enter your LBRY address into the dashboard + set the payout threshold by clicking on the top-right corner:
Catalyst allows miners to get paid directly in Bitcoin instead of LBC. If you want to skip a step on the way to recover your Nicehash investment, we recommend checking out this feature.
If you desire to enable Catalyst, make sure to add your BTC wallet address as shown in the previous step to receive payouts. To enable Catalyst, navigate to the Catalyst tab on the left navigation menu and click on the LBRY toggle: