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Now that you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What is a Mining Pool Mining pools are groups of cooperating miners who agree to share block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the ordinary miner since they smooth out rewards and also make them more predictable, they unfortunately concentrate capability to the mining pools owner.
Pool Concentration in China Before we get into the best mining pools to join, its important to note that most mining pools are in China. Many only have Chinese websites and support. Mining centralization in China is one of Bitcoins biggest issues at the moment. There are about 20 big mining pools.
That can be based on info from Blockchains pool share chart: We strongly recommend new miners to join Slush Pool although it not being one of the biggest pools. It was the first Bitcoin mining pool and remains one of the most reliable and trusted pools, particularly for beginners. 1. BTC.com BTC.com is a public mining pool that can be joined.
2. Antpool Antpool is a mining pool located in China and owned by BitMain. Antpool mines about 25 percent of all blocks. 3. ViaBTC ViaBTC is a somewhat new mining pool which has been around for approximately one year. Its targeted towards Chinese miners. Slush was the first mining pool and currently mines about 3% of blocks.
Top Guidelines Of Top Bitcoin Mining Pools
DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6percent of blocks over the previous six months. 6. BTC.top BTC.top is a private pool and cannot be joined. 7. Bitclub.Network Bitclub Network is a massive mining pool but appears to be somewhat shady. We recommend staying away from this pool.
BTCC BTCC is a pool and also Chinas third largest Bitcoin exchange. Its mining pool currently mines about 7 percent of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines about 2% of blocks. BW, based in 2014, is another mining company based in China.
Mining Pools vs Cloud Mining Many men and women read about mining pools and think it is merely a group that overlooks free bitcoins. This is not true! Mining pools are for people who have mining hardware to divide profits. Many people get mining pools confused with cloud mining. Cloud mining is where you pay a service supplier to miner for you and you receive the rewards.
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Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you buy $100 or more at Coinbase. That Countries Mine the many Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the vast majority of network hash electricity.
China China mines the most bitcoins and therefore ends up exporting the many bitcoins. Electricity in China is very cheap and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash power. Its rumored that some Chinese electricity companies point their surplus energy towards Bitcoin mining facilities in order that no energy goes to waste.
Its estimated that these mining pools own somewhere around 60% of Bitcoins hash power, meaning that they mine roughly 60% of new bitcoins. Georgia Georgia is home to BitFury, one of the biggest producers of Bitcoin mining equipment and processors. BitFury currently mines about 15 percent of all bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm.
US The US is home to 21 Inc., a Bitcoin mining company based in California. 21 runs a massive amount of miners, but also sells low powered bitcoin miners as part of their 21 Bitcoin computer. Most of click over here now the hash power from the 21 Bitcoin computers is pointed towards 21s mining pool.
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Mines about 3 percent of bitcoins. Other Countries The countries above mine about 80% of all bitcoins. The remaining part of the hash electricity is spread across the rest of the planet, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What's a mining poolGet that a Bitcoin Wallet and Mining SoftwareThe Largest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the most BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can see which mining pools are the greatest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool itself.