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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 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 ordinary 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 very best mining pools to join, its important to note that most mining pools are in China. Many only have Chinese sites and support. Mining centralization in China is one of Bitcoins biggest problems 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 very first Bitcoin mining pool and remains one of the most reliable and trusted pools, particularly for beginners. 1. BTC.com BTC.com is a community 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 that has been around for approximately one year. Its targeted towards Chinese miners. Slush was the initial mining pool and currently mines about 3 percent of all blocks.
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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6% 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 seems to be somewhat dishonest. We recommend staying away from this pool.
BTCC BTCC is a pool and Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7 percent of all cubes. 9. Bitfury Bitfury is a private pool that cannot be joined. Bitfury currently mines roughly 2% of blocks. BW, established in 2014, is another mining company based in China.
Mining Pools vs Cloud Mining Many people read about mining pools and think it's just a group that overlooks free bitcoins. This is not true! Mining pools are for people who have mining hardware to divide 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 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. 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 maintained the vast majority of network hash power.
China China mines the most bitcoins and so ends up exporting the most bitcoins. Electricity in China is very economical and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. Its supposed that some Chinese additional reading electricity companies point their you could check here excess energy towards Bitcoin mining facilities in order that no energy goes to waste.
Its estimated these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning that they mine about 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining hardware and processors. BitFury currently mines about 15% 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 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 bitcoins. The remaining part of the hash electricity is spread across the rest of the world, 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 Biggest 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 that 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.