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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 bands of cooperating miners who agree to share block rewards in proportion to their contributed mining hash electricity. While mining pools are desired to the ordinary miner since 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 most mining pools are in China. Many only have Chinese websites and support. Mining centralization in China is one of Bitcoins biggest problems at the moment. There are approximately 20 major 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 biggest pools. It was the first Bitcoin mining pool and remains one of the most dependable and reliable pools, particularly 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 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 percent 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 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 dishonest. We recommend staying away from this pool.

BTCC BTCC is a pool and also Chinas third biggest 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, established 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 NoBWChina1%No The comparison chart above is look here only a fast reference. The location of a pool does not matter all that much. The majority of the pools have servers in every country so even when 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 people read about mining pools and think it is just a group that overlooks free bitcoins. This is not true! Mining pools are for people who have mining equipment 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 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 buy $100 or more in Coinbase. Which 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 claimed the great majority of network hash power.

China China i was reading this mines the very bitcoins and therefore ends up exporting the many bitcoins. Electricity in China is quite cheap and has enabled Chinese Bitcoin miners to gain an extremely 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 electricity, meaning they mine about 60 percent of new bitcoins. Georgia Georgia is home to BitFury, one of the largest manufacturers of Bitcoin mining hardware and processors. BitFury currently mines about 15% 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 low powered bitcoin miners as part of their 21 Bitcoin computer. The majority of the hash electricity from the 21 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 throughout the remainder of the planet, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US). What is a mining poolGet that a Bitcoin Wallet and Mining SoftwareThe Largest 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 which mining pools are 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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