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3 Easy Facts About Top Bitcoin Mining Pools Described


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 consent to discuss block benefits in proportion to their contributed mining hash power. While mining pools are desired 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 best mining pools to join, its important to note that many mining pools are in China. Many only have Chinese sites and support. Mining centralization in China is one of Bitcoins biggest issues at the moment. There are approximately 20 big mining pools.

This is based on info from Blockchains pool discuss graph: We strongly recommend new miners to join Slush Pool despite it not being one of the biggest pools. It was the first Bitcoin mining pool and remains one of the most dependable and reliable 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 located 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 approximately one year. Its targeted towards Chinese miners. Slush was the first mining pool and currently mines about 3 percent of blocks.

 

 

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DiscusFish, also known as F2Pool, is located in China. F2Pool has mined about 5-6percent of all 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 massive mining pool but seems to be somewhat dishonest. We recommend staying away from this pool.

BTCC BTCC is a swimming pool and Chinas third largest Bitcoin exchange. Its mining pool currently mines about 7% of all blocks. 9. Bitfury Bitfury is a private pool that cannot be joined. Bitfury currently mines about 2% of all blocks. BW, established in 2014, is another mining company based in China.

 

 

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3percent NoSlush PoolCzech Republic2percent NoAntpoolChina1%NoBWChina1%No The comparison graph above is only a quick reference. The location of a pool does not matter all that much. Most of the pools have servers in each country so even when the mining pool is based in China, you could connect to a host in the united states, for example.

Mining Pools vs Cloud Mining Many men and women read about mining pools and think it is just a group that overlooks 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 to miner for you and you get the benefits.

 

 

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Buying bitcoins is the useful site 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 maintained 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 surplus energy towards Bitcoin mining facilities in order that no energy goes to waste.

Its estimated these mining pools own somewhere go to this website around 60% of Bitcoins hash power, meaning they mine roughly 60% of new bitcoins. Georgia Georgia is home to BitFury, one of the biggest manufacturers of Bitcoin mining equipment 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 large amount of miners, but also sells non powered bitcoin miners as part of their 21 Bitcoin computer. Most of the hash electricity in the 21 Bitcoin computers is pointed towards 21s mining pool.

 

 

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Mines about 3% of all bitcoins. Other Countries The countries above mine around 80% of all bitcoins. The remaining part of the hash electricity is spread across the rest of the planet, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What is a mining poolGet a Bitcoin Wallet and Mining SoftwareThe Largest wikipedia reference 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 that mining pools would be the largest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .

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