Facts About Top Bitcoin Mining Pools Uncovered
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 agree to share block rewards in proportion to their contributed mining hash power. While mining pools are desired to the ordinary miner since 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 best mining pools to join, its important to note that most mining pools are 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 major mining pools.
That is 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 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 which can be joined.
2. Antpool Antpool is a mining pool located in China and owned by BitMain. Antpool mines about 25 percent 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 located in China. F2Pool has mined about 5-6percent 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 large mining pool but appears to be somewhat shady. We recommend staying away from this pool.
BTCC BTCC is a pool and Chinas third biggest Bitcoin exchange. Its mining pool currently mines roughly 7% 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 men and women read about mining pools and think it's merely a group that overlooks free bitcoins. This is not true! Mining pools are for people who have mining hardware to split profits. Many people 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 purchase $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 maintained the great majority of network hash power.
China China mines the most bitcoins and so ends up exporting the most bitcoins. Electricity in China is very economical and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. Its supposed that some Chinese power companies point their excess 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 they mine about 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest 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 large amount of miners, but also sells low powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash power in the 21 Bitcoin computers is pointed towards 21s mining pool.
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Mines about 3 percent of all bitcoins. Other Countries The countries above mine about 80 percent of all 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 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 are the largest, More about the author its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .