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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 groups of cooperating miners who consent to share block benefits in proportion to their contributed mining hash electricity. While mining pools are desirable to the ordinary miner since 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 most 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 about 20 big mining pools.
This is based on info from Blockchains pool share 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 which 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 somewhat 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% of all blocks.
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DiscusFish, also known as F2Pool, is located in China. F2Pool has mined about 5-6percent of 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 large 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 percent of all cubes. 9. Bitfury Bitfury is a private 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 pop over here 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 purchase 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. As Bitcoin mining is somewhat centralized, 10-15 mining companies have maintained the great majority of network hash power.
China China mines the most bitcoins and therefore ends up exporting the most bitcoins. Electricity in China is quite economical and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash power. Its supposed that some Chinese electricity companies point their surplus energy towards Bitcoin mining centers in order that no energy goes to waste.
Its estimated these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning that they mine about 60% of new bitcoins. weblink Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware and chips. 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 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 percent of bitcoins. The rest of the hash power is spread throughout the remainder of the planet, often pointed at smaller mining pools such as Slush (Czech Republic) and Eligius (US). What's 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 see that mining pools are the largest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by visit their website the mining pool itself.