See This Report on Best Bitcoin Mining Site

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Now you have Bitcoin mining equipment, 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 electricity. While mining pools are desired to the ordinary miner since they smooth out benefits 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 located 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.

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 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% 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 appears to be somewhat dishonest. 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 roughly 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines about 2% of all blocks. BW, based in 2014, is another mining company based in China.

 

 

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3percent NoSlush PoolCzech Republic2%NoAntpoolChina1%NoBWChina1percent No The comparison graph above is just a quick reference. The location of a pool does not matter all that much. Most of the pools have servers in every country so even when the mining pool is based in China, you could connect to a server in the united states, for example.

Mining Pools vs Cloud Mining Many people read about mining pools and think it is merely a group that pays out free bitcoins. This is not true! 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 receive the benefits.

 

 

The Of Top Bitcoin Mining Pools


Buying bitcoins is the EASIEST and FASTEST way to buy bitcoins. Get $10 worth of free bitcoins when you buy $100 or more at Coinbase. Which 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 claimed the great majority of network hash electricity.

China China mines the company website very bitcoins and therefore ends up exporting the many bitcoins. Electricity in China is very cheap and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash power. Its rumored that some Chinese power companies point their excess energy towards Bitcoin mining centers in order that no energy goes to waste.

Its estimated that these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning that they mine about 60% of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest producers of Bitcoin mining equipment 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 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 the 21 Bitcoin computer. The majority of the hash electricity from 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 about 80% of bitcoins. The rest of the hash power is spread throughout the rest of the world, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What is 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 which mining pools would be the greatest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool itself.

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