Follow these steps and you too can be up and mining within 10 minutes!
Get the Magic Internet Money wallet
this is where you store your magic internet money
1) download - mac wallet: http://www.magicinternetmoney.org/#downloads
2) unzip it
3) drag to Applications
4) open magicinternetmoney-qt and let it sync with the magic internet money network, this can take a while, but you do not have to wait for it to complete, you are ready to move onto the next steps.
5) click on the “Receive” tab at the top to view your Magic Internet Money address. It looks like this LQG38uVc1yWVXykvPq5LZJybAE3QoK4Vqq
Download your mining software - i like cpuminer
1) download - mac poolers cpu miner - http://sourceforge.net/projects/cpuminer/files/pooler-cpuminer-2.3.2-osx64.zip
2) unzip it - it unzips to a file called minerd
3) move it to /Applications
4) from inside Terminal
chmod 755 minerd
Join a mining pool
This is how you mine magic internet money with a group of others. Mining as a group allows you to get more rewards that you otherwise would alone on just your laptop. To join a mining pool, you’ll need to register at their website. For this example we’ll use http://mim.dencoinpools.com so go create an account and login.
Configure Mining Pool
1) you need to create a worker - go to the workers page and create a worker by entering a user (workername) and password (yes another password), this worker username and password is not for the site, it is for your miner. this username and password don’t have to be very secure, since all someone can do with it, is mine for you, i make mine all like “magic1” and “x”
2) now go to your edit account page - we only need to enter a few things in the left column
a) enter your Magic Internet Money address in payment address - you can get your MIM address by opening the magic internet money qt wallet and going to the “Receive” tab and clicking on your address, then clicking the copy address button, MiM addresses start with a L and look like this: LQG38uVc1yWVXykvPq5LZJybAE3QoK4Vqq
b) set automatic payout to the lowest value of the range they list, normally this is 5000
d) enter your pin that you created with the account
now click update account
1) open up the Terminal application (typically located in /Applications/Utilities)
2) navigate to the directory where you put the mining application after you unzip it - navigation is done with the cd command - more info on changing directories http://www.linfo.org/cd.html
3) run the miner with this command - remember to replace “username” (imbiat), “workername” (newmagic), and “password” (x)
./minerd -o stratum+tcp://mim.dencoinpools.com:3399 -u imbiat.newmagic -p x
Congratulations! You are mining! cpuminer will make one thread for each core of your cpu and go to to town, with a 4 core modern-ish mac laptop cpu expect 14-28khs, with a older 2 core 7-14khs. You can change the number of threads, for instance on a computer also running usb block erupters, you may want reduce the number of threads used by cpu mining, you can do this with -t flag
./minerd -o stratum+tcp://mim.dencoinpools.com:3399 -u imbiat.newmagic -p x -t 1
How To Get More Free Magic Internet Money Coins
This process has worked for me on Mac Book Pro laptops running OS X 10.6 and 10.7
Magic Internet Money is a scrypt based crypto currency unlike bitcoins which are sha256 based. MIM can be mined by cpus and gpus but not by asic miners built for bitcoin. If you already have a computer running you sha256 block erupters, why not set a some of the threads of your cpu to mining scrypt coins for you. Check out http://www.coinwarz.com/cryptocurrency to see which coins are the most profitable to mine.
More info about Magic Internet Money (read this later once you’ve started mining): https://bitcointalk.org/index.php?topic=464184.0 - the bitcointalk thread where it all started.
If this guide helped you, you are welcome to donate