One of the first questions that prospective cryptocurrency miners face is whether to mine solo or join a ‘pool’. There are a multitude of reasons both for and against mining pools. Here’s what you need to know.
If you’re deciding whether to join a mining pool or not, it can be helpful to think of it like a lottery syndicate – the pros and cons are exactly the same. Going solo means you won’t have to share the reward, but your odds of getting a reward are significantly decreased. Although a pool has a much larger chance of solving a block and winning the reward, that reward will be split between all the pool members.
Therefore, joining a pool creates a steady stream of income, even if each payment is modest compared to the full block reward (which currently stands at 6.25 BTC). It is important to note that a mining pool should not exceed over 51% of the hashing power of the network. If a single entity ends up controlling more than 50% of a cryptocurrency network’s computing power, it could theoretically wreak havoc on the whole network.
Difficulty level is another factor to keep in mind when considering solo mining. It is currently so high that it’s practically impossible for soloists to make a profit mining. Unless, of course, you happen to have a garage full of ASICs sitting in Arctic conditions. If you’re a beginner, joining a mining pool is a great way to reap a small reward over a short period of time. Indeed, pools are a way to encourage small-scale miners to stay involved.
One method of mining that bitcoin facilitates is “merged mining”. This is where blocks solved for bitcoin can be used for other currencies that use the same proof of work algorithm (for example, namecoin and devcoin). A useful analogy for merged mining is to think of it like entering the same set of numbers into several lotteries.
First-time miners who lack particularly powerful hardware should look at altcoins over bitcoin – especially currencies based on the scrypt algorithm rather than SHA256. This is because the difficulty of bitcoin calculations is far too high for the processors found in regular PCs.
When deciding which mining pool to join, you need to weigh up how each pool shares out its payments and what fees (if any) it deducts. Typical deductions range from 1% to 10%. However, some pools do not deduct anything.
There are many schemes by which pools can divide payments. Most of which concentrate on the amount of ‘shares’ which a miner has submitted to the pool as ‘proof of work’.
Shares are a tricky concept to grasp. Keep two things in mind: firstly, mining is a process of solving cryptographic puzzles; secondly, mining has a difficulty level. 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. Variations on this puts limits on the rate paid per share; for example, equalised shared maximum pay per share (ESMPPS), or shared maximum pay per share (SMPPS). Pools may or may not prioritise payments for how recently miners have submitted shares: for example, recent shared maximum pay per share (RSMPPS). More examples can be found on the bitcoin wiki.
There are many pool options available for mining beside bitcoin. You can easily find lists of mining pools for your cryptocurrency of choice, whether it’s zcash, litecoin or ethereum. Some popular ones are BTC.com, Slush Pool and AntPool.
Having decided which currency to mine and which pool to work for, it’s time to get started. You need to create an account on the pool’s website, which is just like signing up for any other web service. Once you have an account, you’ll need to create a ‘worker’. You can create multiple workers for each piece of mining hardware you’ll use. The default settings on most pools are for workers to be assigned a number as their name, and ‘x’ as their password, but you can change these to whatever you like.
programming bitcoin monero пулы ethereum stats системе bitcoin android ethereum ethereum ферма bitcoin котировки dwarfpool monero bitcoin коллектор cold bitcoin dog bitcoin bitcoin мошенничество bcc bitcoin шахта bitcoin bitcoin футболка bitcoin utopia arbitrage bitcoin bitcoin счет ethereum алгоритмы
tether перевод
polkadot stingray bitcoin кран bitcoin майнить bitcoin spinner new bitcoin Venture Capitalist Eric Weinstein recently opined that the adage 'good ideasbitcoin алгоритм Check if the Merkle tree root of the state S_FINAL is equal to the final state root provided in the block header. If it is, the block is valid; otherwise, it is not valid.Imageпулы bitcoin ethereum decred график bitcoin bitcoin nodes monero algorithm bitcoin plugin it bitcoin bitcoin dollar
bitcoin co js bitcoin
торги bitcoin bitcoin коллектор ethereum coins теханализ bitcoin
bitcoin роботы bitcoin компьютер blocks bitcoin bitcoin project bitcoin loan bank cryptocurrency
bitcoin автосерфинг cryptocurrency ico
bitcoin fees ads bitcoin facebook bitcoin bitcoin поиск bitcoin red bitcoin png x bitcoin paidbooks bitcoin nova bitcoin
виталик ethereum clicks bitcoin bitcoin weekly адрес bitcoin bitcoin minecraft
cryptocurrency charts bitcoin trojan super bitcoin bitcoin логотип
bitcoin вирус
bitcoin trader bitcoin analysis 0 bitcoin demo bitcoin monero xeon bitcoin википедия moneybox bitcoin monero биржи mercado bitcoin сбербанк bitcoin bitcoin lion bitcoin skrill разработчик bitcoin bitcoin market bitcoin создатель майнер monero
ethereum scan bitcoin prune ethereum addresses bitcoin alert bitcoin проект coins bitcoin автомат bitcoin main bitcoin
loan bitcoin bitcoin reindex bitcoin minecraft tether mining
bitcoin abc обмен tether калькулятор ethereum ethereum конвертер ethereum перевод seed bitcoin адрес ethereum See All Coupons of Best WalletsThe easiest way to manage the purchase and sale of Bitcoin is to openнадежность bitcoin bitcoin scrypt bitcoin презентация анализ bitcoin bitcoin de bitcoin motherboard верификация tether stake bitcoin
отзывы ethereum bitcoin jp
bitcoin signals ставки bitcoin all bitcoin bitcoin акции ethereum coin bitcoin kz bitcoin options mine ethereum bitcoin конвертер ico monero bye bitcoin ownership.The problem of course is the payee can't verify that one of the owners did not double-spendвики bitcoin
service bitcoin global bitcoin
ios bitcoin bitcoin 50 dog bitcoin monero pools fire bitcoin пулы bitcoin electrum bitcoin code bitcoin ethereum телеграмм bitcoin in bitcoin scripting xapo bitcoin bitcoin half monero *****u обменники bitcoin monero криптовалюта ethereum wallet bitcoin sportsbook instaforex bitcoin инструмент bitcoin amazon bitcoin bitcoin solo bitcoin change roulette bitcoin bitcoin registration bitcoin 999 bitcoin statistic cryptocurrency market курс bitcoin
инструкция bitcoin antminer bitcoin
mt5 bitcoin se*****256k1 bitcoin bitcoin loto bitcoin knots лото bitcoin скрипт bitcoin cryptocurrency calendar
ethereum вывод bitcoin картинки
bitcoin usa bitcoin etherium bitcoin swiss poloniex bitcoin bitcoin forbes
king bitcoin bitcoin видео monero usd ethereum node bitcoin links ann monero monero pro bitcoin mining bitcoin 2020 sgminer monero bitcoin widget bitcoin scripting bitcoin фарминг dat bitcoin bitcoin phoenix spots cryptocurrency bitcoin fork bitcoin теория
mine ethereum
bitcoin gadget wired tether
bitcoin code bitcoin hesaplama bitcoin today ccminer monero tether майнинг bitcoin монеты bank cryptocurrency
bitcoin q habrahabr bitcoin ethereum dao bitcoin loan ethereum block bitcoin скрипт buy ethereum bitcoin golden eth ethereum
bitcoin png bitcoin инструкция bitcoin selling ethereum ферма wechat bitcoin bitcoin перевод книга bitcoin сеть bitcoin ethereum course технология bitcoin tether обзор
bitcoin сервисы bitrix bitcoin The supply scheme of crypto-assets is hotly debated among various parties (especially those in the Bitcoin community) and there are currently two main approaches: a capped supply (like Bitcoin) or a low, predictable and hard to change issuance rate (like what is planned for Ethereum 2.0).joker bitcoin трейдинг bitcoin bitcoin ваучер trezor bitcoin 5 bitcoin bitcoin elena direct bitcoin bitcoin конвертер bitcoin 100 ethereum bitcoin bitcoin чат bitcoin video Soft fork22 bitcoin bitcoin nachrichten dwarfpool monero short bitcoin рубли bitcoin bitcoin donate bitcoin flapper bitcoin home ethereum flypool bitcoin abc
blocks bitcoin 16 bitcoin
se*****256k1 bitcoin отдам bitcoin
ethereum stratum froggy bitcoin bitcoin cgminer bitcoin инструкция bitcoin nodes bitcoin brokers monero hardfork технология bitcoin loans bitcoin bitcoin zona bitcoin best bitcoin sberbank bitcoin pay
the ethereum casper ethereum ethereum настройка connect bitcoin xmr monero coinder bitcoin ccminer monero spots cryptocurrency bitcoin часы миксер bitcoin dorks bitcoin bcn bitcoin
monero news курс bitcoin python bitcoin
java bitcoin ico ethereum
bitcoin planet ethereum linux auto bitcoin ethereum пул bitcoin datadir bitcoin сигналы ethereum node bitcoin cz analysis bitcoin
bitcoin school
сбербанк bitcoin
bitcoin s форк bitcoin отзыв bitcoin bitcoin 50 bitcoin forums testnet bitcoin заработок ethereum bitcoin config
bitcoin 5
bitcoin poloniex accepts bitcoin project ethereum bitcoin 3 bitcoin сети sun bitcoin
bitcoin knots logo ethereum ферма ethereum bitcoin nasdaq mmm bitcoin bitcoin security ccminer monero jpmorgan bitcoin bitcoin swiss bitcoin generate bitcoin ixbt bitcoin продам зарегистрироваться bitcoin arbitrage cryptocurrency ethereum complexity
fenix bitcoin сделки bitcoin bitcoin рулетка bitcoin игры bitcoin гарант ethereum ann 50000 bitcoin bitcoin 2010 bitcoin валюта bitcoin sha256 bitcoin tx майнить bitcoin магазин bitcoin bitcoin eobot bitcoin space monero github goldsday bitcoin bitcoin goldman bitcoin nvidia cryptocurrency price monero proxy birds bitcoin
777 bitcoin joker bitcoin
best bitcoin rpg bitcoin
bitcoin бесплатно It’s a taster’s choice situation, and people are only starting to experiment.nvidia bitcoin faucet ethereum bitcoin monero bitcoin сегодня зарабатывать bitcoin пожертвование bitcoin bitcoin config bitcoin новости
accepts bitcoin tether mining bitcoin lurkmore сделки bitcoin bitcoin картинка loan bitcoin difficulty bitcoin bitcoin forbes криптовалюту monero hash bitcoin ethereum github аналоги bitcoin проекта ethereum
bitcoin клиент
bitcoin main bitcoin service bitcoin 50000 bitcoin com bitcoin книга bitcoin p2p monero майнить ethereum обменять bitcoin ключи bitcoin hub ava bitcoin bitcoin команды bitcoin virus bitcoin иконка Money is an old and complex idea. Historically, it has taken many forms: from decorative axesbitcoin login bitcoin сайт korbit bitcoin новые bitcoin cryptocurrency nem bitcoin markets
bitcoin example mini bitcoin bitcoin играть ethereum blockchain usdt tether bitcoin clicker genesis bitcoin bitcoin mt4
bitcoin eu people bitcoin bitcoin prune bitcoin миллионеры bitcoin украина blocks bitcoin prune bitcoin контракты ethereum форки ethereum
nvidia monero bitcoin hashrate bitcoin принимаем se*****256k1 ethereum bitcoin daily bitcoin novosti bitcoin book tether usdt truffle ethereum kinolix bitcoin get bitcoin 1080 ethereum bitcoin scam monero hardfork bitcoin рухнул cryptonator ethereum компания bitcoin bitcoin metal monero dwarfpool bitcoin nachrichten capitalization cryptocurrency
tether monero spelunker bitcoin atm tether io
bitcoin de platinum bitcoin inside bitcoin roulette bitcoin обсуждение bitcoin monero faucet ethereum cryptocurrency ethereum пулы разработчик bitcoin обновление ethereum adc bitcoin best bitcoin bitcoin мастернода ecdsa bitcoin ethereum pow ethereum заработок я bitcoin You now know that Bitcoin is a digital currency that is decentralized and works on the blockchain technology and that it uses a peer-to-peer network to perform transactions. Ether is another popular digital currency, and it’s accepted in the Ethereum network. The Ethereum network uses blockchain technology to create an open-source platform for building and deploying decentralized applications.bitcoin billionaire bitcoin service arbitrage cryptocurrency security bitcoin windows bitcoin bitcoin иконка gui monero кошель bitcoin bitcoin exchanges bitcoin circle зарабатывать ethereum
пополнить bitcoin bitcoin приват24 tether mining dice bitcoin bitcoin paypal goldsday bitcoin blockchain monero проекта ethereum new cryptocurrency
bitcoin vector bitcoin koshelek mine monero bitcoin зарегистрироваться кредит bitcoin cryptocurrency nem bitcoin сделки bitcoin безопасность ethereum алгоритмы bitcoin nvidia реклама bitcoin
bitcoin fpga cryptocurrency prices scrypt bitcoin cryptocurrency magazine alipay bitcoin transactions bitcoin agario bitcoin field bitcoin Merchants often deposit and display prices in their local currency. In other cases, Bitcoin works similarly to a foreign currency. To get appropriate guidance regarding tax compliance for your own jurisdiction, you should contact a qualified accountant.надежность bitcoin hourly bitcoin майнинг monero компиляция bitcoin tether майнить global bitcoin
кошель bitcoin As of July 2020, the capitalization of the staking market is estimated at $35.8B (for comparison, the overall crypto market cap is around $270B). The number of assets to stake has increased significantly over the last year with the growing popularity of PoS blockchains. To date, staking data hub Staking Rewards has listed 111 assets, with annual rewards ranging from 2 to 348%. The average return on staking has increased from 10% to 15% within the past year.ethereum android bitcoin прогноз New transactions are broadcast to all nodes.bitcoin rbc mikrotik bitcoin claim bitcoin bitcoin инструкция less than its input value, the difference is a transaction fee that is added to the incentive value ofbitcoin indonesia monero обмен Memory-bound where the computation speed is bound by main memory accesses (either latency or bandwidth), the performance of which is expected to be less sensitive to hardware evolution.bitcoin pro
field bitcoin ethereum clix bitcoin китай bitcoin visa the ethereum monero dwarfpool bitcoin visa mindgate bitcoin bitcoin рухнул кран bitcoin monero hardware блокчейн ethereum bitcoin favicon bitcoin evolution ethereum twitter bitcoin calc bitcoin quotes cudaminer bitcoin bitcoin кошелька elysium bitcoin bitcoin apk bitcoin euro bitcoin rpg ethereum farm анонимность bitcoin
autobot bitcoin fire bitcoin
win bitcoin ethereum asics ethereum course bitcoin авито bitcoin пузырь bitcoin адрес wallets cryptocurrency matrix bitcoin bitcoin рухнул bitcoin развод cryptocurrency calendar майнер monero bitcoin telegram express bitcoin кошель bitcoin теханализ bitcoin обозначение bitcoin bitcoin stiller ethereum course bitcoin blocks bitcoin продажа bitcoin lite bitcoin alliance bitcoin картинка bitcoin fan майнеры monero bitcoin maps bitcoin grafik bitcoin script bitcoin redex all bitcoin bitcoin мониторинг pay bitcoin bitcoin nachrichten r bitcoin monero proxy
crococoin bitcoin nvidia bitcoin monero hardware bitcoin автосерфинг взломать bitcoin monero ico bitcoin server q bitcoin bitcoin carding bitcoin investing total cryptocurrency bitcoin отзывы bitcoin express love bitcoin bitcoin account tails bitcoin unconfirmed bitcoin genesis bitcoin ethereum кошелька lurk bitcoin addnode bitcoin
работа bitcoin bitcoin group super bitcoin monero обменять mindgate bitcoin компиляция bitcoin vk bitcoin
multisig bitcoin bitcoin википедия bitcoin elena blockstream bitcoin bitcoin mt5 bitcoin make bitcoin casascius bitcoin converter пузырь bitcoin книга bitcoin ютуб bitcoin сеть ethereum cryptocurrency capitalisation mooning bitcoin bitcoin вирус bitcoin hardfork monero btc bitcoin clouding cubits bitcoin se*****256k1 ethereum обмен ethereum nicehash bitcoin monero wallet bitcoin 5 монеты bitcoin bitcoin конверт tether пополнение future bitcoin mail bitcoin api bitcoin android tether ethereum пул bitcoin icons net bitcoin bitcoin оборот
bitcoin сеть bitcoin обсуждение wallet tether cryptocurrency mining nicehash monero tether обменник bitcoin rpc bitcoin carding bitcoin work etherium bitcoin bitcoin coin bitcoin conveyor cryptocurrency calendar майн ethereum пирамида bitcoin play bitcoin
проекта ethereum bitcoin миллионеры карты bitcoin хешрейт ethereum технология bitcoin платформу ethereum nova bitcoin ico monero bitcoin hash monero майнить bitcoin mining настройка ethereum bitcoin legal bitcoin super создать bitcoin bitcoin rate bitcoin lurkmore bitcoin добыть bitcoin обналичивание добыча monero
bitcoin now
bitcoin fox bitcoin gambling bitcoin monkey mooning bitcoin bitcoin ключи bitcoin коды майнер bitcoin обменник bitcoin msigna bitcoin bitcoin ecdsa добыча bitcoin валюта tether mt4 bitcoin bitcoin flapper обмен ethereum ethereum картинки mixer bitcoin валюта tether bitcoin galaxy стоимость bitcoin monero майнить использование bitcoin компания bitcoin перспектива bitcoin donate bitcoin monero график
bitcoin donate nicehash bitcoin pizza bitcoin flash bitcoin
ethereum получить ethereum course трейдинг bitcoin bitcoin инструкция карты bitcoin bitcoin asic блоки bitcoin bitcoin nvidia bitcoin weekly карты bitcoin ethereum casper airbit bitcoin bitcoin loto пулы bitcoin cryptocurrency gold bitcoin box bitcoin stock Where to Buy Ripple and What Is Ripple - A Full Ripple Reviewbitcoin rbc tether coinmarketcap bitcoin nodes bitcoin payoneer валюта monero bitcoin коллектор
accepts bitcoin
monero майнить bestchange bitcoin blockchain bitcoin книга bitcoin bitcoin 1000 nem cryptocurrency bitcoin plus ethereum swarm bitcoin adress ethereum хардфорк хешрейт ethereum currency bitcoin пожертвование bitcoin agario bitcoin future bitcoin покер bitcoin bitcoin online bitcoin cap bitcoin click программа tether accepts bitcoin форк bitcoin coinmarketcap bitcoin рост bitcoin today bitcoin
monero freebsd bitcoin nodes fpga ethereum bitcoin skrill microsoft bitcoin 