rpcallowip=127.0.0.1 (use this if you are mining on the same machine your wallet it on)
rpcuser=username (whatever you want your username to be)
rpcpassword=password (Whatever you want your password to be)
Do you have something that will mine? (an asic miner, a high end GPU)??
This coin uses the scrypt algo, so any litecoin tutorial will give you and idea of what to do.
Why do I have to add my username and password and the port and all that in my wallet .conf file ? I know miner must be 127.0.0.1 because that is the local computer IP address. Why must it be in my wallet .conf too.
Because when you set up your miner you need a user and password. If you are just using it to sync (the addnodes), don't worry about it.