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Now you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What is a Mining Pool Mining pools are all groups of cooperating miners who agree to discuss block benefits in proportion to their contributed mining hash power. While mining pools are desired to the average miner as they smooth out benefits and also make them more predictable, they unfortunately concentrate power to the mining pools owner.
Pool Concentration in China Before we get into the best mining pools to join, its important to note that many mining pools are located in China. Many only have Chinese sites 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 discuss chart: We strongly recommend new miners to join Slush Pool although it not being one of the greatest pools. It was the first Bitcoin mining pool and remains one of the most dependable and trusted pools, especially for beginners. 1. BTC.com BTC.com is a public mining pool that can be joined.
2. Antpool Antpool is a mining pool based in China and owned by BitMain. Antpool mines about 25 percent of all cubes. 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.
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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 large mining pool but seems to be somewhat shady. We recommend staying away from this pool.
BTCC BTCC is a pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines roughly 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines roughly 2% of all 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 just a group that pays out free bitcoins. This is not true! Mining pools are for men and women who have mining equipment to divide profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a service provider my response to miner for you and you get 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. As Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the great majority of network hash electricity.
China China mines the most bitcoins and so ends up exporting the most bitcoins. why not try here Electricity in China is very economical and has allowed Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash electricity. Its rumored that some Chinese electricity companies point their excess energy towards Bitcoin mining centers in order that no energy goes to waste.
Its estimated these mining pools own somewhere around 60% of Bitcoins hash power, meaning that they mine roughly 60 percent of new bitcoins. Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware and processors. BitFury currently mines about 15% of 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 non powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash power in the 21 Bitcoin computers has been pointed towards 21s mining pool.
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Mines about 3% of bitcoins. Other Countries The countries above mine about 80 percent of all bitcoins. The remaining part of the hash power is spread throughout the remainder of the world, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius Discover More (US). What is 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 would be the greatest, its important to understand that the hash electricity pointed towards a mining pool isnt necessarily owned by the mining pool .