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April 11, 2019
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Getting Started: Bitcoin mining pool
Bitcoin mining implies participation in the work of the system in order to assist in the computation of cryptographic keys (hashes) that sign blocks of transactions in the blockchain. For finding each key, the system gives a reward in the form of emitted bitcoins. Due to the high complexity of the computations, it is impossible to find the key by yourself, being ahead of other participants, even with high-performance equipment. Therefore, more than 99% of miners, with the exception of those who have the fantastically powerful computing power, work through these sites.
- You will need to download from the official resource the software that is required for the implementation of mining.
- You will need to understand the software, configure it, and design its launch.
- Then everything is simple – test mining on your computer, and calculate how much you can earn on it through this pool.
In principle, everything is extremely simple on this point, nothing complicated is required. But it should be remembered that ordinary users do not have access to some pools, for example, the pool – Bitfüri is private.
Advantages
Distributed computing by a group of miners is much more efficient than a single key search. Together they manage to find the hash faster than it would if they were working alone. For the use of the resource you have to pay a commission of the pool, but this amount is insignificant compared to the increase in profitability due to the joint solution of computational problems.
Commissions
There are cases when unscrupulous owners of the “pools” robbed users, collecting the extracted cryptocurrency and disappearing. In order not to become a deceived entrepreneur, we recommend using the services of proven services. However, the more reliable the pool, the higher the commission and other types of fees. New pools lure users with a low commission and pleasant bonuses during registration, which of course attracts inexperienced miners.
Regulations
Some countries do impose a tax on Bitcoin mining income since they classify cryptocurrency as bond and stocks. Whether your country of residence does that or not you should do research or even better consult with the expert in this field.
Top 10 Mining Pools
The most popular mining services have an English interface, which does not prevent Russian miners from earning successfully with their help. The list of the largest pool of BTC mining associations includes the following resources:
1. BTC.com
Country: China.
Founded: 2015.
Commission: 17.93% of all blocks.
Is it open to the public: Yes.
2. AntPool
Country: China.
Founded: 2015.
Commission: 14.40% of all blocks.
Is it open to the public: Yes.
3. SlushPool
Country: Czech Republic.
Founded: 2010.
Commission: 11.96% of all blocks.
Is it open to the public: Yes.
4. BTC.top
Country: China.
Founded: 2014.
Commission: 9.24% of all blocks.
Is it open to the public: Yes.
5. F2pool
Country: China.
Founded: 2013.
Commission: 9.24% of all blocks.
Is it open to the public: Yes.
6. ViaBTC
Country: China.
Founded: 2016.
Commission: 8.97% of all blocks.
Is it open to the public: Yes.
7. Poolin
Country: China.
Founded: 2014.
Commission: 5.71% of all blocks.
Is it open to the public: Yes.
8. BitFury
Country: Georgia.
Founded: 2014.
Commission: 3.53% of all blocks.
Is it open to the public: No.
9. BitClub
Country: China.
Founded: 2014.
Commission: 2.72% of all blocks.
Is it open to the public: Yes.
10. DPOOL
Country: China.
Founded: 2014.
Commission: 2.45% of all blocks.
Is it open to the public: Yes.
