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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 groups of cooperating miners who agree to discuss block benefits in proportion to their contributed mining hash power. While mining pools are desired to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate capability 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 major mining pools.
This can be based on info from Blockchains pool discuss chart: We strongly recommend new miners to join Slush Pool although it not being one of the biggest pools. It was the first Bitcoin mining pool and remains one of the most reliable 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 based in China and owned by BitMain. Antpool mines about 25 percent of all cubes. 3. ViaBTC ViaBTC is a new mining pool that has been around for about 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 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 swimming pool and Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7 percent of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines about 2% of blocks. BW, based in 2014, is another mining company based in China.
Mining Pools vs Cloud Mining Many men and women read about mining pools and think it's just a group that pays out free bitcoins. This is not correct! Mining pools are for people who have mining equipment to split 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 rewards.
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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 get redirected here or more at 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 claimed the vast majority of network hash electricity.
China China mines the very bitcoins and so ends up exporting the most bitcoins. Electricity in China is quite economical and has allowed Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. Its rumored that some Chinese electricity companies point their excess energy towards Bitcoin mining centers so that no energy goes to waste.
Its estimated that these mining pools own somewhere around 60 percent of Bitcoins hash electricity, meaning that they mine roughly 60% of new bitcoins. Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining equipment 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 low 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 around 80% of bitcoins. The remaining part 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'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 maximum BitcoinsOther CountriesA Note on PoolsWhy are Miners ImportantAntpool ReviewBitfury InformationBTCC Mining Pool ReviewSlush Pool Review A Note on Pools While we can view which 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.