Mining Scrypt Coins for Dummies

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Note: Should you cloud mine then you dont need to select a poolthe cloud mining company will do this automatically. Why are Miners Important Bitcoin miners are crucial to Bitcoin and its own safety. With no miners, Bitcoin will be vulnerable and easy to strike. Get this: Most Bitcoin users dont mine.

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Mining, once done on the ordinary home , is now largely done in large, technical warehouses with massive amounts of mining equipment. These warehouses usually direct their hashing electricity towards mining pools. Antpool Review Despite recent controversy, Antpool remains the biggest Bitcoin mining pool in terms of its own Bitcoin network hash speed.

About Antpool Antpool mined its first block in March 2014, meaning it emerged roughly four years following the initial mining pool; Slushpool. Antpool is run by Bitmain Technologies Ltd., the worlds biggest Bitcoin mining equipment manufacturer, and also a huge portion of their swimming pool is run on Bitmains own mining channels.

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Additionally, Antpools user interface is surprisingly slick considering the underlying company thrives mostly off of hardware sales. The way to Join Antpool The swimming pool is totally free to join and the process is simple. To begin with, you need to get Bitcoin mining hardware. Then you need to download mining program. If you need help deciding, I recommend you take a look at our hardware and software guides.

Software is important because it enables you to guide your hardwares hash electricity towards the pool you prefer. So make sure that you make the right choice in order to maximize your own rewards. Finally, sign up in antpool.com to get started. What exactly are Antpools Fees Antpool claims that it does not charge any fees for using its pool.

Even though Antpool does not directly charge fees, it also does not disclose the Bitcoin transaction fees that are collected. Fundamentally, clients are left in the dark. Currently, each Bitcoin block has a 12.5 BTC reward that Antpool does share with you when it finds a block. Recently, however, Bitcoin transaction fees have been rising and an additional 1-2 bitcoins are collected a block by pools.

It can be argued that these prices prevent the service from being usable for small-time and big-volume users. Consequently, some users on bitcointalk.org heed that the undisclosed fees make the ceremony unwise to use for the time being. What's the Payout Threshold The pool does not appear to get a payout threshold and pays out daily around 10 AM UTC.

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Can you really do Solo Mining on Antpool Solo mining means that you mine to get bitcoins with no joining a pool. Therefore, in the event that you use Antpool you are not solo mining by default. Generally, you will receive more frequent payouts by joining a pool. What his explanation is the Controversy around Antpool Antpool has refused to enable arguably beneficial upgrades to Bitcoin for reasons based on claims which have been largely disproved.

More specifically, the controversy revolves around Segwit a feature which needs miner activation to be enabled. Despite the fact that most Bitcoin users want this feature activated, Antpool, among other pools, seems to be blocking this attribute. Antpool began signaling for Bitcoin Unlimited in early March 2017 for reasons that have not been elucidated by Bitmain CEO (and cofounder Jihan Wu).

Moreover, allegations that the owner won't sell hardware into Segwit fans also have begun to circulate. By using Antpool, you allow the pool to decide your hardwares approach to those things, meaning that the pool that you used dictates the type of Bitcoin protocol that your hardware employs. Should sites you wish to decide which implementation your hardware should signal for, then you can use a pool that leaves the option to its users, like the Slush mining pool.

The main difference between the Bitfury pool and other mining pools is the fact that Bitfury is a private pool. Bitfury, the company, makes its own mining hardware and runs its own pool. Thus, unlike Slush or even Antpool, Bitfury cannot be joined if you run mining hardware at home. Bitfury 16nm ASIC Chip Unrelated into its pool, Bitfury sells a 16nm ASIC mining processor.

Valery Vavilov, CEO of BitFury BTCC Mining Pool Review BTCC Mining Pool is run by BTCC, a Bitcoin company based in China. The company also runs a Bitcoin exchange, wallet, prints bodily bitcoins and more! Worldwide Servers BTCC runs servers all over the world so your mining hardware can connect easily to the BTCC pool.

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Bobby Lee, BTCC CEO Shared Transaction Fees One good thing about BTCC swimming pool is the fact that it shares Bitcoin transaction fees using its miners. In every Bitcoin block, around 1-2 BTC worth of transaction prices are also rewarded to the pool. Some pools keep these fees for themselves and DO NOT talk with their miners! BTCC evenly splits the transaction prices among its miners, just like it divides the 12.5 BTC reward.

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