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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 all groups of cooperating miners who consent to share block rewards in proportion to their contributed mining hash electricity. While mining pools are desirable to the ordinary miner as they smooth out benefits and also 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 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 big mining pools.

This can be based on info from Blockchains pool discuss chart: 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, especially 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% of all cubes. 3. ViaBTC ViaBTC is a new mining pool that has been around for approximately 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 5-6percent 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 largest 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 blocks. BW, established in 2014, is another mining company based in China.

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Bitcoin Mining Pool Comparison PoolLocationFeesPrivate PoolBitFuryGeorgia0percent YesBTCCChina2-3percent NoSlush PoolCzech Republic2percent NoAntpoolChina1percent NoBWChina1%No The comparison graph above is only a fast reference. The location of a pool does not matter that much. Most of the pools have servers in each country so even if the mining pool is based in China, you can 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 is just a group that pays out free bitcoins. This is not true! 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 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 in Coinbase. Which 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 electricity.

China China mines the most bitcoins and so ends up exporting the many bitcoins. Electricity in China is very cheap and has enabled Chinese Bitcoin miners to gain a very 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 estimated that these mining pools own somewhere around 60 percent of Bitcoins hash electricity, meaning they mine about 60% of all new bitcoins. Georgia Georgia is home to BitFury, one of the biggest producers of Bitcoin mining hardware and chips. BitFury currently mines about 15 percent of bitcoins. Sweden Sweden is home to KnCMiner, a Bitcoin mining company additional hints 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. Most of the hash power from the 21 Bitcoin computers has been pointed towards 21s mining pool.

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Mines about 3% of all bitcoins. Other Countries The countries above mine about 80% of bitcoins. The rest of the hash power is spread across the rest of the planet, often pointed at smaller mining pools such as 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 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 would be the largest, its important to understand that the hash power pointed towards a mining pool isnt necessarily owned by the mining pool .

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