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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 consent to discuss block rewards in proportion to their contributed mining hash power. While mining pools are desired to the ordinary miner as they smooth out rewards and 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 most mining pools are 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 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 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 located in China and owned by BitMain. Antpool mines about 25 percent of all blocks. 3. ViaBTC ViaBTC is a somewhat new mining pool which has been around for approximately 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 all 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 large mining pool but seems to be somewhat dishonest. 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 cubes. 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.

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3%NoSlush PoolCzech Republic2%NoAntpoolChina1percent NoBWChina1percent No The comparison chart above is just a quick reference. The location of a pool does not matter that much. Most of the pools have servers in every country so even if the mining pool is located in China, you could connect to a server in the united states, for instance.

Mining Pools vs Cloud Mining Many men and women read about mining pools and think it's merely look at this now a group that overlooks free bitcoins. This is not correct! Mining pools are for people who have mining hardware 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 receive the rewards.

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Buying bitcoins is the EASIEST and FASTEST way to purchase bitcoins. Get $10 worth of free bitcoins when you buy $100 or more in Coinbase. Which 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 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 allowed Chinese Bitcoin miners to gain an extremely large percentage of Bitcoins hash power. Its supposed that some Chinese electricity companies point their excess energy towards Bitcoin mining centers so that no energy goes to waste.

Its from this source estimated that these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning that they mine roughly 60 percent of 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 bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company based in Stockholm.

US The US is home discover here to 21 Inc., a Bitcoin mining company based in California. 21 runs a large amount of miners, but also sells low powered bitcoin miners as part of the 21 Bitcoin computer. The majority of the hash power in the 21 Bitcoin computers has been pointed towards 21s mining pool.

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Mines about 3 percent of all 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 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 see that mining pools are the greatest, 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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