The Best Bitcoin Mining Site PDFs
Now you have Bitcoin mining hardware, 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 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 many 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 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 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 based in China and owned by BitMain. Antpool mines about 25% of all blocks. 3. ViaBTC ViaBTC is a new mining pool which 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 all blocks.
The Top Bitcoin Mining Pools Diaries
DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6percent of all 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 massive mining pool but seems to be somewhat shady. We recommend staying away from this pool.
BTCC BTCC is a pool and Chinas third largest Bitcoin exchange. Its mining pool currently mines about 7 percent of all cubes. 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.
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 split profits. Many men and women get mining pools confused with cloud mining. Cloud mining is where you pay a site web service supplier to miner for you and you receive the rewards.
What Does Top Bitcoin Mining Pools Mean?
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 great majority of network hash power.
China China mines the very bitcoins and therefore ends up exporting the most bitcoins. Electricity in China is quite cheap and has enabled 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 power, meaning they mine roughly 60 percent of all 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 bitcoins. Sweden Sweden is home to KnCMiner, look at these guys 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 non powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash electricity in the 21 Bitcoin computers is pointed towards 21s mining pool.
What Does Cloud Mining Sites Do?
Mines about 3 percent of all bitcoins. Other Countries The countries above mine around 80% of bitcoins. The rest of the hash power is spread across the rest of the world, often pointed at smaller mining pools such as 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 most 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 are the greatest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .