How to choose and connect to a Bitcoin mining pool

There are varying methods of this with the aim of keeping the pool hashing power stable.

While some mining pools have Vardiff, others will have multiple ports for different difficulties. 

Although Bitfury controls a large portion of the Bitcoin network hash rate, its committed to making Bitcoin decentralized:

Pros and cons 

10+ best Bitcoin mining pools you can join. Use our guide to avoid scams and mine fast!

Like Pay Per Share, but never pays more than the pool earns. You will also want to take into account the minimum payout. This defines the minimum amount of coins you are allowed to withdraw or to receive automatically. Some pools allow you to set a limit above the minimum, which allows you to save money on transaction fees.

When choosing a mining pool, you will want to check the minimum payout, the payout period, and weather the pool or the user pays for the transactions fees on withdrawals. Currency The first thing you'll have to consider is, of course, the cryptocurrency that you would like to mine.

The most popular at the moment are Zcash , Ethereum , and Ethereum Classic , among others. These are currently the most profitable ones. You can always compare your profits with each currency through the calculator tool that we have available. Of course, these numbers are subject to change has the price, mining difficulty, and network hashrate change, so it's advisable that you take these into account and that you check on them regularly.

Some mining pools allow Merge Mining, which means that your can mine two cryptocurrencies at once without losing efficiency in neither. This, however, is only available with some algorithms. Another type of pool to consider is a multi-pool. If you are planning to mine an altcoin but want to exchange it for BTC, these may be useful to you. Location If you're located in Europe and mining on a Chinese server, you may not get the best results. This will allow you to mine more efficiently. Vardiff Vardiff stands for Variable Difficulty.

It is used to regulate the difficulty of the shares you recieve to work on. Keep two things in mind: When a miner 'solves a block' there is a corresponding difficulty level for the solution. Think of it as a measure of quality. If the difficulty rating of the miner's solution is above the difficulty level of the entire currency, it is added to that currency's block chain and coins are rewarded. Additionally, a mining pool sets a difficulty level between 1 and the currency's difficulty.

If a miner returns a block which scores a difficulty level between the pool's difficulty level and the currency's difficulty level, the block is recorded as a 'share'. There is no use whatsoever for these share blocks, but they are recorded as proof of work to show that miners are trying to solve blocks. They also indicate how much processing power they are contributing to the pool — the better the hardware, the more shares are generated.

The most basic version of dividing payments this way is the 'pay per share' PPS model. Pools may or may not prioritise payments for how recently miners have submitted shares: More examples can be found on the bitcoin wiki. The other factor to consider is how much the pool will deduct from your mining payments.

However, some pools do not deduct anything. Starting to mine with a pool Having decided which currency to mine and which pool you'll work for, it's time to get started. 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.

Finally, sign up at antpool. 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. What is the Payout Threshold? The minimum withdrawal amount is 0. Can you do Solo Mining on Antpool?

Solo mining means you mine for bitcoins without joining a pool. So if you use Antpool you are not solo mining by default.

Generally, you will receive more frequent payouts by joining a pool. What is the Controversy around Antpool?

 

What is a Mining Pool? 

A pie chart showing the hashrate distribution between the major bitcoin mining pools - Blockchain.

Learn which Bitcoin mining pools are best for making money for Bitcoin miners. Bitcoin Mining Pool Hash Rate Distribution Bitcoin Mining Pool Options. 25 rows · Comparison of mining pools. From Bitcoin Wiki. Jump to: navigation, . 

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Pool Concentration in China

Track Bitcoin mining pools stats: hashrate distribution, blocks found, reward system, dead/alive pools, cloud/solo mining availability. List of known mining pools for Bitcoin (BTC) SHA with live pool hashrate stats.

Bitcoin mining pools Rising Bitcoin difficulty level The pool currently commands the third largest share in aggregate mining Hashrate distribution for Bitcoin at. Here's a quick look into 5 such mining pools that currently command over 70% of aggregate Bitcoin mining hashrate distribution. Bitrazzi. Bitcoin Mining Pools.

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