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Now that you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are all groups of cooperating miners who agree to share block benefits in proportion to their contributed mining hash electricity. While mining pools are desired to the average miner since they smooth out rewards and 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 most mining pools are located in China. Many only have Chinese websites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are approximately 20 major mining pools.
That is based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool despite it not being one of the biggest 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 community mining pool which 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 new mining pool which has been around for about one year. Its targeted towards Chinese miners. Slush was the first 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 5-6% 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 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 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 overlooks free bitcoins. This is not correct! Mining pools are for people who have mining equipment to split profits. Many people get mining pools confused with cloud mining. Cloud mining is where you pay a service provider 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 in Coinbase. Which 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 great majority of network hash power.
China China mines the very bitcoins and so ends up exporting the many bitcoins. Electricity in China is very economical and has allowed Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. Its supposed that some Chinese power companies point their excess energy towards Bitcoin mining centers so that no energy goes to waste.
Its estimated that these discover this info here mining pools own somewhere around 60 percent of Bitcoins hash power, meaning they mine roughly 60% of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest manufacturers of Bitcoin mining hardware 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 go now 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. Most of the hash power from the 21 Bitcoin computers has been pointed towards 21s mining pool.
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Mines about 3 percent of bitcoins. Other Countries The countries above mine around 80% of all bitcoins. The rest of the hash power is spread throughout the remainder of the planet, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What is a mining poolGet that a Bitcoin Wallet look these up 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 that 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 itself.