Posted on March 15, March 20, by Ricardo. ViaBTC is a somewhat new mining pool that has been around for about one year. Antpool claims that it will only signal for Segwit if there is a hardfork, which is a proposition that most users oppose. First, you need to acquire Bitcoin mining hardware.
Pool Concentration in China
Now that you have Bitcoin mining hardwareyour next step is to join a Bitcoin mining pool. Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power. Miners can, however, choose to redirect their hashing power to a different mining pool at anytime. Many only have Chinese websites and support. Minibg are about 20 major mining pools.
What is a Mining Pool?
Bitcoin mining is still one of the most relevant ways to earn BTC. However, because of the rapidly rising mining difficulty, the requirements for mining equipment are growing, too. While some five years ago you could mine BTC with your smartphone, today even the most powerful graphics cards prove to be inefficient. There are two: solo and pool mining. Before Bitcoin and the cryptocurrency industry became widespread, solo mining was very common: miners had enough technological capacity to mine new blocks and enjoyed generous BTC rewards. Before , the complexity of mining and general hash rate used to be low. However, as the number of miners increased, so grew the need for powerful equipment and energy-intensive farms.
Pool Concentration in China
Now that you have Bitcoin mining hardwareyour next step is to join a Bitcoin mining pool. Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power. Miners can, however, choose to redirect their hashing power to a different mining pool at anytime. Many only have Chinese websites and support. There are about 20 major mining pools.
The list below details the biggest Bitcoin mining pools. We strongly recommend new miners to join Poolin or Slush Pool. They are based in China, but have a website fully available in English. We strongly recommend joining Slush Pool or Poolin instead. Antpool is a mining pool based in China and owned by BitMain.
ViaBTC is a somewhat new mining pool that has been around for about one year. Slush is probably one of the best and most popular mining pools despite not being one of the largest. Bitfury is a private pool that cannot be joined. Bitfury currently mines about 3. The comparison chart above is just a quick reference. The location of a pool does not matter all that. Most of the pools have servers in every country so even if the mining pool is based in China, you could connect to a server in the US, for example.
Before you join a mining pool you will also need Bitcoin mining software and a Bitcoin wallet. Many people read about mining pools and think it is just a group that pays out free bitcoins. This is not true! Mining pools are for people who have mining hardware to split 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 get the rewards. As Bitcoin mining is somewhat centralized, mining companies have claimed the vast majority of network hash power. With many of these companies in the same country, only a number of countries mine and export a significant amount of bitcoins.
Georgia is home to BitFuryone of the largest producers of Bitcoin mining hardware and chips. The US is home to 21 Inc. The rest of the hash power is spread across the rest of the world, often pointed at smaller mining pools like Slush Czech Republic and Eligius US.
Bitcoin miners can switch mining pools easily by routing their hash power to a different pool, so the market share of pools is constantly changing. To make the list of top 10 miners, we looked at blocks found over the past 6 months using data from BlockTrail.
The size of mining pools is constantly changing. We will do our best to keep this posted up-to-date. Bitcoin miners are crucial to Bitcoin and its security. Without miners, Bitcoin would be vulnerable and easy to attack. However, miners are responsible for the creation of all new bitcoins and a fascinating part of the Bitcoin ecosystem. Mining, once done on the average home computer, is now mostly done in large, specialized warehouses with massive amounts of mining hardware.
Despite recent controversy, Antpool remains the largest Bitcoin mining pool in terms of its Bitcoin network hash rate. Antpool mined its first block in Marchmeaning that it emerged roughly four years after the first mining pool; Slushpool. Antpool is run by Bitmain Technologies Ltd. Antpool supports p2pool and stratum mining modes with nodes that are spread all over the world to ensure stability US, Germany, China. First, you need to acquire Bitcoin mining hardware.
Then you need to download mining software. If you need help deciding, I suggest you take a look at our hardware and software guides. So make sure to make the right choice in order to optimize your rewards. Antpool claims that it does not charge any fees for using its pool.
While Antpool does not directly charge fees, it also does not disclose the Bitcoin transaction fees that are collected. Basically, clients are left in the dark. Currently, every Bitcoin block has a Lately, however, Bitcoin transaction fees have been rising and an additional bitcoins are collected per block by pools. At this time, Antpool keeps bitcoins form transaction fees for itself, which are not shared with miners who have hash power pointed toward the pool.
It can be argued that these rates prevent the service from being usable for small-time and big-volume users. Consequently, some users on bitcointalk. The minimum withdrawal amount is 0.
Solo mining means you mine for bitcoins without joining a pool. So if you use Antpool you are not solo mining by default. Antpool has refused to enable arguably beneficial upgrades to Bitcoin for reasons based on claims that have been largely disproved. Notably, this has taken place with somewhat of a vindictive attitude. More specifically, the controversy revolves around Segwit — a feature that requires miner activation to be enabled. Despite the fact that most Bitcoin users want this feature activated, Antpool, among other pools, appears to be blocking this feature.
Antpool claims that it will only signal for Segwit if there is a hardfork, which is a proposition that most users oppose. Furthermore, allegations that the owner refuses to sell hardware to Segwit supporters have also begun to circulate.
If you wish to decide which implementation your hardware should signal for, you can use a pool that leaves the choice to its users, like the Slush mining pool. The main difference between the Bitfury pool and other mining pools is that Bitfury is a private pool. Bitfury, the company, makes its own mining hardware and runs its own pool.
So, unlike Slush or Antpool, Bitfury cannot be joined if you run mining hardware at home. Although Bitfury controls a large portion of the Bitcoin network hash rate, its committed to making Bitcoin decentralized :.
BitFury is fundamentally committed to being a responsible player in the Bitcoin community and we want to work with all integrated partners and resellers to make our unique technology widely available ensuring that the network remains decentralized and we move into the exahash era. The company also runs a Bitcoin exchange, wallet, prints physical bitcoins and more! BTCC evenly splits the transaction fees among its miners, just like it splits the You will want to point your software towards the URL location closest to you.
This will maximize your mining profits. This may seem like a lot but unlike other pools it shares the transaction fees with its miners. At current levels, these amount to BTC more per block.
Satoshi Labs runs Slush Pool. Many people want to use the pools above for Ethereum. But, most of the pools listed above are only for Bitcoin mining. Please see our post on Ethereum mining pools for more info on ETH specific pools. Like Ethereum, none of the pools above support litecoin. For LTC mining you will need separate hardware and a separate pool. But most likely you will have to pay income tax on income from mining pools just like you would for any other type of income.
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If you just want bitcoins, mining is NOT the best way to obtain coins. Best Bitcoin Cloud Mining. Best Bitcoin Mining Hardware.
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What is a Mining Pool?
Bitfury is working to make Bitcoin decentralized. Antpool claims that it does not charge any fees for using its pool. Mining is an interesting prospect even when the cryptocurrency market has not grown from the last two years. More specifically, the controversy revolves around Segwit — a feature that requires miner activation to be enabled. Despite recent controversy, Antpool remains the largest Bitcoin mining pool poolx terms of its Bitcoin network hash rate. Users will also be allowed top mining pools altcoins view the stats of other users in the leaderboard that features the hash power of users. Any changes which are to be made requires being signed by your bitcoin altcoihs address, which is also your username. BTCC is located in China and came into existence in Bitfury is a private pool located in Georgia. Currently, poops represent 2. Jordan Tuwiner Last updated December 20,
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