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Now 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 consent to discuss block benefits in proportion to their contributed mining hash power. While mining pools are desirable to the ordinary miner since they smooth out rewards 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 approximately 20 big 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 greatest pools. It was the first Bitcoin mining pool and remains one of the most reliable and reliable 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 located in China and owned by BitMain. Antpool mines about 25 percent of all blocks. 3. ViaBTC ViaBTC is a new mining pool which has been around for about one year. Its targeted towards Chinese miners. Slush was the first mining pool and currently mines about 3 percent 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 Chinas third biggest Bitcoin exchange. Its mining pool currently mines roughly 7 percent of all blocks. 9. Bitfury Bitfury is a personal pool that cannot be joined. Bitfury currently mines roughly 2% of all blocks. BW, established in 2014, is another mining company based in China.

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0%YesBTCCChina2-3%NoSlush PoolCzech Republic2%NoAntpoolChina1%NoBWChina1%No The comparison graph above is just a fast reference. The location of a pool does not matter all that much. Most of the pools have servers in each country so even if the mining pool is located in China, you can connect to a server in the united states, for example.

Mining Pools vs Cloud Mining Many people read about mining pools and think it's just a group that overlooks free bitcoins. This is not true! Mining pools are for people who have mining hardware to divide profits. Many men and women get mining pools confused click to find out more 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 purchase bitcoins. Get $10 worth of free bitcoins when you purchase $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 electricity.

China China mines the most bitcoins and so 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 facilities in order that no energy goes to waste.

Its estimated that these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning that they mine roughly 60 percent of all new bitcoins. Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware 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. The majority of the hash electricity in the 21 click this site Bitcoin computers is pointed towards 21s mining pool.

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Mines about 3 percent of bitcoins. Other Countries The countries above mine around 80 percent of all bitcoins. The remaining part of the hash power is spread across the remainder of the planet, often pointed at smaller mining pools such as 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 which look at this now mining pools are the largest, its important to understand that the hash electricity pointed towards a mining pool isnt necessarily owned by the mining pool itself.

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