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Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are bands of cooperating miners who agree to discuss block rewards in proportion to their contributed mining hash power. While mining pools are desirable to the ordinary miner as they smooth out rewards and also make them more predictable, they unfortunately concentrate power to the mining pools owner.
Pool Concentration in China Before we get into the very best mining pools to join, its important to note that many mining pools are located 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 is based on info from Blockchains pool share chart: We strongly recommend new miners to join Slush Pool despite it not being one of the greatest pools. It was the very first Bitcoin mining pool and remains one of the most reliable and reliable pools, especially for beginners. 1. BTC.com BTC.com is a public mining pool which can be joined.
2. Antpool Antpool is a mining pool located in China and owned by BitMain. Antpool mines about 25% of all blocks. 3. ViaBTC ViaBTC is a somewhat new mining pool that has been around for about one year. Its targeted towards Chinese miners. Slush was the initial 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 all blocks over the past 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 roughly 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines roughly 2% of blocks. BW, based in 2014, is another mining company based in China.
Mining Pools vs Cloud Mining Many people read about mining pools and think it is just a group that pays out free bitcoins. This is not true! Mining pools are for people who have mining hardware to split profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a service supplier to miner for you and you receive the benefits.
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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 in 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 very bitcoins and so ends up exporting the most bitcoins. Electricity in China is very economical and has allowed Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash power. Its supposed that some Chinese power companies point their excess energy towards Bitcoin mining centers in order that no energy goes to waste.
Its estimated that these mining pools own somewhere around 60% of Bitcoins hash power, meaning they mine about 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest producers of Bitcoin mining equipment and chips. BitFury currently mines about 15 percent 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 large amount of miners, but also sells non powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash power from the 21 Bitcoin computers has been pointed towards 21s mining pool.
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Mines about 3% of all bitcoins. Other Countries The countries above mine about 80% of bitcoins. The remaining part of the hash electricity is spread throughout the remainder of the world, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What is a mining poolGet a Bitcoin Wallet and Mining SoftwareThe have a peek at this website Biggest Mining PoolsBest Bitcoin Mining Pool ComparisonMining Pools vs Cloud MiningWhich Countries Mine the maximum BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can view which mining pools would be the largest, its important to understand that the hash electricity pointed towards a mining pool isnt necessarily owned by the mining pool .