A Biased View of Best Bitcoin Mining Site
Now 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 power. While mining pools are desirable to the ordinary miner as they smooth out rewards 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 major mining pools.
This is based on info from Blockchains pool discuss graph: We strongly recommend new miners to join Slush Pool despite it not being one of the biggest pools. It was the very first Bitcoin mining pool and remains one of the most dependable 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 cubes. 3. ViaBTC ViaBTC is a somewhat new mining pool that has been around for about one year. Its targeted towards Chinese miners. Slush was the first mining pool and currently mines about 3% 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 shady. We recommend staying away from this pool.
BTCC BTCC is a pool and Chinas third biggest Bitcoin exchange. Its mining pool currently mines about 7% of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines roughly 2% of all blocks. BW, based in 2014, is another mining company based in China.
Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0%YesBTCCChina2-3percent NoSlush PoolCzech Republic2%NoAntpoolChina1percent NoBWChina1%No The comparison graph above is only a fast reference. The location of a pool does not matter that Home Page much. The majority of the pools have servers in every country so even when the mining pool is located in China, you could connect to a server in the US, for instance.
Mining Pools vs Cloud Mining Many people 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 hardware to divide 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 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 cheap electricity. As Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the vast majority of network hash power.
China China mines the very bitcoins and so ends up exporting the many bitcoins. Electricity in China is quite economical and has enabled Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash electricity. Its supposed that some Chinese power 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 check out this site hash power, meaning that they mine about 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest manufacturers 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 massive amount of miners, but also sells low powered bitcoin miners as part of the 21 Bitcoin computer. Most of the hash electricity in the 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% of bitcoins. The rest of the hash power is spread across the remainder of the world, often pointed at smaller mining pools such as Slush (Czech Republic) you can check here 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 view 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.