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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 bands of cooperating miners who agree to share block rewards in proportion to their contributed mining hash electricity. While mining pools are desirable to the average miner as they smooth out benefits and also make them more predictable, they unfortunately concentrate capability 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 located 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 major mining pools.
This can be based on info from Blockchains pool share chart: We strongly recommend new miners to join Slush Pool despite it not being one of the greatest pools. It was the first Bitcoin mining pool and remains one of the most reliable and trusted pools, especially 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% of all blocks. 3. ViaBTC ViaBTC is a 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% of all blocks.
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DiscusFish, also known as F2Pool, is located in China. F2Pool has mined about 5-6% of all 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 large mining pool but seems to be somewhat shady. We recommend staying away from this pool.
BTCC BTCC is a swimming pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7 percent of all blocks. 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 men and women read about mining pools and think it's merely a group that pays out free bitcoins. This is not true! Mining pools are for men and women 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 supplier to miner for you and you get the benefits.
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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 at Coinbase. That Countries Mine the most Bitcoins Bitcoin mining tends to gravitate towards countries with next 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 many bitcoins. Electricity in China is quite cheap and has enabled Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash electricity. Its rumored that some Chinese electricity companies point their excess energy towards Bitcoin mining facilities in order that no energy goes to waste.
Its estimated that these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning that they mine about 60% of all new bitcoins. Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware and chips. BitFury currently mines about 15% of all bitcoins. Sweden Sweden published here 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 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% of all bitcoins. Other Countries The countries above mine about browse around here 80 percent of bitcoins. The rest of the hash electricity 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 maximum 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 electricity pointed towards a mining pool isnt necessarily owned by the mining pool .