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Now that you have Bitcoin mining hardware, your next step is to join a Bitcoin mining pool. What is a Mining Pool Mining pools are all groups of cooperating miners who agree to discuss block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the ordinary miner as 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 many 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 approximately 20 big mining pools.

This is based on info from Blockchains pool discuss 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, particularly for beginners. 1. BTC.com BTC.com is a public 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 percent of blocks.

 

 

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DiscusFish, also known as F2Pool, is located 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 pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 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.

 

 

The Best Guide To Iq TradingThe Main Principles Of Top Bitcoin Mining Pools
Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3%NoSlush PoolCzech Republic2%NoAntpoolChina1percent NoBWChina1percent No The comparison graph above is just a quick reference. The location of a pool does not matter that much. The majority of the pools have servers in every country so even if the mining pool is located in China, you can connect to a server in the US, for example.

Mining Pools vs Cloud Mining Many people read about mining pools and think it's merely a group that overlooks free bitcoins. This is not true! Mining pools are for men and women who have mining equipment to divide 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 rewards.

 

 

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Buying bitcoins is the EASIEST and FASTEST way to purchase bitcoins. Get why not look here $10 worth of free bitcoins when you buy $100 or more in Coinbase. Which 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 great majority of network hash power.

China China mines the very bitcoins and therefore ends up exporting the most bitcoins. Electricity in China is very economical and has allowed Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash power. Its supposed that some Chinese power companies point their surplus 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 percent of new bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining equipment and chips. 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 anchor a large amount of miners, but also sells low powered bitcoin miners as part of their 21 Bitcoin computer. The majority of the hash power from the get redirected here 21 Bitcoin computers has been pointed towards 21s mining pool.

 

 

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Mines about 3% of bitcoins. Other Countries The countries above mine about 80 percent of all bitcoins. The remaining part of the hash electricity is spread across the remainder of the planet, 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 that mining pools would be the largest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .

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