Easy way, using testrpc.

This is a nodejs envrionment. Once install testrpc, we can run it and connect Mist to it

testrpc
# cd into Mist folder
./Mist --rpc http://localhost:8545

Step 1: Run test network

./geth --rpc --nat none --dev

Step 2: Create first account

Given that it requires ethereum to power anything. We need to mine outselves for that to work

TO do this, we use geth official client:

geth attach
ipc:/var/folders/ts/7xznj_p13xb7_5th3w6yjmjm0000gn/T/ethereum_dev_mode/geth.ipc

The ipc address can be found hwen we run geth --rpc above. Once console is open, we can run:

personal.newAccount()
miner.setEtherbase(personal.listAccounts[0]) // Hit ENTER
miner.start() // Hit ENTER
# We can check balance with
eth.getBalance(personal.listAccounts[0]) // Hit ENTER