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Now 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 since they smooth out benefits and 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 many 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.
This can be 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 based in China and owned by BitMain. Antpool mines about 25% of all cubes. 3. ViaBTC ViaBTC is a new mining pool which has been around for about one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3% of all blocks.
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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6percent of 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 swimming pool and also Chinas third largest Bitcoin exchange. Its mining pool currently mines about 7 percent of all blocks. 9. Bitfury Bitfury is a private 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 merely a group that overlooks free bitcoins. This is not correct! Mining pools are for people who have mining equipment 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 get 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 most Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have maintained the vast majority of network hash electricity.
China China mines the most 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 surplus energy towards Bitcoin mining facilities in order that no energy goes to waste.
Its estimated that these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning that they mine about 60% of all new bitcoins. Georgia see here Georgia is home to BitFury, one of the biggest 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 low powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash power in the 21 Bitcoin computers is pointed towards 21s mining pool.
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Mines about 3% of bitcoins. Other Countries The countries above mine around 80% of bitcoins. The rest of the hash electricity is spread across the remainder of the world, often pointed at smaller mining pools such as his explanation Slush (Czech Republic) and Eligius (US). What is a mining poolGet 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 view 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.