The Ultimate Guide To Best Bitcoin Mining Site
Now that you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What's a Mining Pool Mining pools are groups of cooperating miners who consent to share block benefits in proportion to their contributed mining hash electricity. While mining pools are desirable to the average miner as they smooth out benefits and 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 about 20 major mining pools.
This is based on info from Blockchains pool share chart: We strongly recommend new miners to join Slush Pool although it not being one of the greatest pools. It was the very first Bitcoin mining pool and remains one of the most reliable and trusted pools, especially for beginners. 1. BTC.com BTC.com is a public 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 cubes. 3. ViaBTC ViaBTC is a 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 based in China. F2Pool has mined about 5-6% of 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 large mining pool but appears to be somewhat shady. We recommend staying away from this pool.
BTCC BTCC is a swimming pool and also Chinas third largest Bitcoin exchange. Its mining pool currently mines roughly 7 percent of all blocks. 9. Bitfury Bitfury is a private pool that cannot be joined. Bitfury currently mines about 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 is just a group that pays out free bitcoins. This is not correct! Mining pools are for men and women who have mining equipment to divide 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 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. Since 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 many bitcoins. Electricity in China is very economical 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 see here so that no energy goes to waste.
Its estimated these mining pools own somewhere around 60% of Bitcoins hash electricity, meaning that they mine roughly 60% of new bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining equipment and processors. BitFury currently mines about 15% 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 try this website in California. 21 runs a massive amount of miners, but also sells non powered bitcoin miners as part of their 21 Bitcoin computer. The majority of the hash power from 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 percent of all bitcoins. The rest of the hash electricity is spread throughout the rest of the planet, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What is a mining poolGet 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 that mining pools are the largest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .