How to choose and connect to a Bitcoin mining pool

Mining solo, while sometimes more profitable, it’s usually not the right choice for most miners. When mining solo, you are doing all the work alone which means that you’ll receive the entire block prize, the problem is that mining is also based on a luck factor, which means that if your hashpower isn’t high enough, you may never see a prize come your way. With pool mining, however, this variance is eliminated and you recieve payments that correspond to the portion of the work that you have done.

If you are determining to join a Bitcoin or altcoin mining pool there are fairly a few considerations to take into account – mainly their method of distributing the block prize and the fees they charge for managing the pool. Pools also attempt to zekering cheating by miners – i.e. for them to exchange inbetween pools.l.

Today wij want to instruct you some aspects of pool mining te the hope that they will help you choose a mining pool that best fits your needs.

You can check out our mining pool list here. Make sure to read the reviews and to check the features carefuly. You will also find a list of servers by locaiton and coin ter the pool description.

The main consideration is the fees, which vary according to which proefje of payment distribution the mining pool is operating and determines which party is assuming the risk – the miners or the mining pool technicus. If the mining pool technicus is assuming the risk, then the fees are higher, and if the miners assume the risk then fees are lower.

The fees usually range from 0% to 4%. The standard toverfee for mining pools is usually 1%, so if you spot a pool with a higher toverfee check its payment method and other features. If there is a pool with similar features and payment method but smaller toverfee, you’ll want to choose the 2nd option.

Sometimes a pool will have a 0% toverfee. This is very unusual and it most often means that you are dealing with a fresh pool that has no toverfee ter an effort to attract customers. Some pools, however, actually rely on donations and other methods, so if you find a 0% toverfee, you’ll want to keep an eye on any toverfee switches.

You can check out our mining pool list here and organize it by toverfee.

The monster where the mining pool technicus assumes all the risk is when they assure a payment vanaf each proof of work – or potential hash solution – that their miners suggest. For example if the total network is 100GH, the mining pool operating this Pay Vanaf Share (PPS) method has a hash rate of 10GH, and the block prize is 25 Bitcoins, then the expected terugwedstrijd is Two.Five Bitcoins vanaf block.

The pool will give money to their miners even if their pool hasn’t successfully mined the block, meaning the risk of lumpy payments is assumed by the technicus, and hence why the fees are at the higher end of the range at 10%. Miners will then only receive an expected terugwedstrijd of Two.25 Bitcoins vanaf block distributed proportionally by how much hashing power they have contributed towards the block.

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

– Proportional – the simplest method whereby for each block, the prize is split inbetween the hashing power contributed proportionally by the miners of the block.

– Pay Vanaf Last N Shares – PPLNS – looks at the last N shares instead of just the last block. This smooth’s the comes back for mining equipment operators if they haven’t bot connected for one reason or another. If they contributed to the majority of Bitcoin blocks 1-6, when a prize wasgoed found by their pool te block 7, for which they had become disconnected through no fault of their own, then they are still eligible for payouts depending on the time of N.

There are other inventions and variations that have bot implemented. For example the DGM method (Dual Geometric Method), where the technicus receives some payments overheen brief rounds and distributes them overheen longer rounds. There are also some other ways where the more latest proofs of work are allocated a higher weighting te terms of the proportion they are eligible for.

Overheen the time, many different payment systems have bot developed. Most altcoin pools use the Prop or PPLNS payment system. However, there are several, including:

  • CPPSRB – Capped Pay Vanaf Share with Latest Backpay.
  • DGM – Dual Geometric Method. A hybrid inbetween PPLNS and Geometric prize types that enables to technicus to absorb some of the variance risk. Technicus receives portion of payout on brief rounds and comes back it on longer rounds to normalize payments.
  • ESMPPS – Equalized Collective Maximum Pay Vanaf Share. Like SMPPS, but equalizes payments fairly among all those who are owed.
  • POT – Pay On Target. A high variance PPS variant that pays on the difficulty of work returned to pool rather than the difficulty of work served by pool
  • PPLNS – Pay Vanaf Last N Shares. Similar to proportional, but instead of looking at the number of shares te the round, instead looks at the last N shares, regardless of round boundaries.
  • PPLNSG – Pay Vanaf Last N Groups (or shifts). Similar to PPLNS, but shares are grouped into “shifts” which are paid spil a entire.
  • PPS – Pay Vanaf Share. Each submitted share is worth certain amoutripnt of BC. Since finding a block requires <,current difficulty>, shares on average, a PPS method with 0% toverfee would be 12.Five BTC divided by <,current difficulty>,. It is risky for pool operators, hence the toverfee is highest.
  • Prop. – Proportional. When block is found, the prize is distributed among all workers proportionally to how much shares each of them has found.
  • RSMPPS – Latest Collective Maximum Pay Vanaf Share. Like SMPPS, but system aims to prioritize the most latest miners very first.
  • Score – Score based system: a proportional prize, but weighed by time submitted. Each submitted share is worth more te the function of time t since embark of current round. For each share score is updated by: score += exp(t/C). This makes straks shares worth much more than earlier shares, thus the miner’s score quickly diminishes when they zekering mining on the pool. Prizes are calculated proportionally to scores (and not to shares). (at slush’s pool C=300 seconds, and every hour scores are normalized)
  • SMPPS – Collective Maximum Pay Vanaf Share. Like Pay Vanaf Share, but never pays more than the pool earns.

You will also want to take into account the ondergrens payout. This defines the ondergrens amount of coins you are permitted to withdraw (or to receive automatically). Some pools permit you to set a limit above the ondergrens, which permits you to save money on transaction fees. When choosing a mining pool, you will want to check the ondergrens payout, the payout period, and weather the pool or the user pays for the transactions fees on withdrawals.

You can check out our mining pool list here and filterzakje it by payment system.

The very first thing you’ll have to consider is, of course, the cryptocurrency that you would like to mine. The most popular at the uur are Zcash, Ethereum, and Ethereum Classic, among others. Thesis are presently the most profitable ones. You can always compare your profits with each currency through the zakjapanner contraption that wij have available. Of course, thesis numbers are subject to switch has the price, mining difficulty, and network hashrate switch, so it’s advisable that you take thesis into account and that you check on them regularly.

Some mining pools permit Merge Mining, which means that your can mine two cryptocurrencies at once without losing efficiency te neither. This, however, is only available with some algorithms.

Another type of pool to consider is a multi-pool. Thesis permit you to choose from several cryptocurrencies to mine and converts your profits into Bitcoin automatically. If you are programma to mine an altcoin but want to exchange it for BTC, thesis may be useful to you. Check out multi.pools here.

You can check out our mining pool list here and filterzakje them by currency.

If you’re located te Europe and mining on a Chinese server, you may not get the best results. Check if your pool has a servers ter your country/continent and if so, check the URL for those servers. This will permit you to mine more efficiently.

Vardiff stands for Variable Difficulty. It is used to regulate the difficulty of the shares you recieve to work on. This benefits both low hashrate and high hashrate miners spil the difficulty will regulate itself to best getraind your hashrate. While some mining pools have Vardiff, others will have numerous ports for different difficulties. If your pool has no Vardiff, you may want to test different ports for different difficulty.

Wij pay a 110% block prize, and charge 0% fees for PPS and PPLNS.

Cloud Mining

Commence mining instantly with our cloud mining contracts! 100% assured uptime.

Mine Bitcoin Legacy (BTC) or Bitcoin Specie (BCH)

Wij suggest BTC and BCH mining. You can also chose to automatically mine the most profitable coin.

How Much Will I Earn?

Cloud Mining

  • Does not include daily toverfee for cloud mining.
  • Calculation is based on current difficulty and Bitcoin price.
  • Difficulty increases about 5% every Two weeks, but may vary based on global hashrate. Click here to view historical difficulty increases.
  • Includes block prize premie (presently 10%), which wij reserve the right to switch.
  • Daily toverfee is for covering tens unit and maintenance costs.
  • Daily toverfee is subtracted from daily revenue.
  • Contract will end if daily toverfee exceeds revenue for 60 consecutive days.

Datacenter

Statistics

Pool Hashrate (Global Hashrate %)

How do I get began?

To get commenced, please buy a cloud mining contract from us. You don’t need any special hardware to do cloud mining, wij will do the mining for you. If you have your own specialized mining hardware (such spil an Antminer S9 or Avalon 721), you can connect it to our pool with the address displayed te the instrumentenbord.

Why do I earn more at Bitcoin.com Pool?

Wij pay 110% of the block prize, charge 0% fees, and have an utterly high share acceptance rate.

Why are you selling cloud mining contracts? Why not keep the profit for yourself?

Wij are selling cloud mining contracts to grow our hashrate. Wij will use the sales revenue to instantly purchase more mining hardware.

Related movie: The TRUTH about BITCOIN !


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