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Now that you have Bitcoin mining equipment, your next step is to join a Bitcoin mining pool. What is a Mining Pool Mining pools are all groups of cooperating miners who agree to discuss block rewards in proportion to their contributed mining hash electricity. While mining pools are desired to the average miner as 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 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 issues at the moment. There are about 20 big mining pools.

This is based on info from Blockchains pool discuss graph: We strongly recommend new miners to join Slush Pool although 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 community mining pool which can be joined.

2. Antpool Antpool is a mining pool located in China and owned by BitMain. Antpool mines about 25 percent of all cubes. 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% of all blocks.

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DiscusFish, also known as F2Pool, is based in China. F2Pool has mined about 5-6percent 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 massive mining pool but seems to be somewhat shady. We recommend staying away from this pool.

BTCC BTCC is a swimming pool and also Chinas third biggest Bitcoin exchange. Its mining pool currently mines roughly 7% of all blocks. 9. Bitfury Bitfury is a private 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%YesBTCCChina2-3percent NoSlush PoolCzech Republic2percent NoAntpoolChina1percent NoBWChina1%No The comparison graph above is only 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 host in the united states, for example.

Mining Pools vs Cloud Mining Many people read about mining pools and think go right here it's just a group that overlooks free bitcoins. This is not correct! 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 service supplier to miner for you and you receive 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. Which Countries Mine the many 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 electricity.

China China mines the very bitcoins and therefore see here now ends up exporting the most bitcoins. Electricity in China is very cheap and has enabled Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash electricity. Its rumored that some Chinese power companies point their surplus energy towards Bitcoin mining facilities in order that no energy goes to waste.

Its estimated these mining pools own somewhere around 60 percent of Bitcoins hash power, meaning they mine roughly 60% of all new bitcoins. Georgia Georgia is home to BitFury, one of the largest producers of Bitcoin mining hardware and chips. 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 large amount of miners, but also sells non powered bitcoin miners as part of the 21 Bitcoin computer. Most 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 rest 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 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 see that mining pools would be 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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