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Now 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 agree to discuss block rewards in proportion to their contributed mining hash power. While mining pools are desired 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 sites 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 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 reliable 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 located in China and owned by BitMain. Antpool mines about 25% of all cubes. 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 located in China. F2Pool has mined about 5-6% of 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 dishonest. 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% of all blocks. 9. Bitfury Bitfury is a personal 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 PoolBitFuryGeorgia0%YesBTCCChina2-3percent NoSlush PoolCzech Republic2%NoAntpoolChina1percent NoBWChina1%No The comparison chart above is only a fast reference. The location of a pool does not matter that much. The majority of the pools have servers in each country so even when the mining pool is located in China, you could connect to a host in the US, for instance.

Mining Pools vs Cloud Mining Many people read about mining pools and think it is merely a group that pays out free bitcoins. This is not correct! Mining pools are for people who have mining hardware to divide profits. Many men and women 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 a knockout post purchase $100 or more in Coinbase. That Countries Mine the many Bitcoins Bitcoin mining tends to gravitate towards countries with cheap electricity. Since Bitcoin mining is somewhat centralized, 10-15 mining companies have claimed the vast majority of network hash power.

China China mines the most bitcoins and so ends up exporting great post to read the most bitcoins. Electricity in China is quite economical and has allowed Chinese Bitcoin miners to gain a very large percentage of Bitcoins hash power. Its rumored that some Chinese electricity companies point their surplus energy towards Bitcoin mining centers so that no energy goes to waste.

Its estimated that these mining pools own somewhere around 60% of Bitcoins hash power, meaning they mine roughly 60 percent of 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 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 low powered bitcoin miners as part of their 21 Bitcoin computer. The majority of the hash power from the 21 Bitcoin computers is pointed towards 21s mining pool.

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Mines about 3% of bitcoins. Other Countries The countries above mine around 80% of all bitcoins. The remaining part of the hash power is spread throughout the remainder of the world, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What's 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 Visit This Link A Note on Pools While we can view which 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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