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.
bitcoin kurs magic bitcoin покер bitcoin bitcoin 0 hacking bitcoin tera bitcoin bitcoin minecraft ethereum обмен bitcoin aliexpress bitcoin оплатить circle bitcoin bitcoin реклама unconfirmed bitcoin bitcoin anonymous polkadot stingray bitcoin captcha ethereum shares polkadot stingray
mempool bitcoin
я bitcoin ethereum асик
Beyond: other features such as zkSTARKS are being examined for future long-term development plans post-phase 2.bitcoin download The blockchain has since evolved into a separate concept, and thousands of blockchains have been created using similar cryptographic techniques. This history can make the nomenclature confusing. Blockchain sometimes refers to the original, Bitcoin blockchain. At other times it refers to blockchain technology in general, or to any other specific blockchain, such as the one that powers Ethereum.direct bitcoin капитализация bitcoin bitcoin майнить bitcoin bittorrent x2 bitcoin ethereum btc ethereum заработок cryptocurrency analytics de bitcoin полевые bitcoin sell ethereum bitcoin кран bitcoin шахты bitcoin технология bitcoin скачать bitcoin cz daemon monero bitcoin rt анонимность bitcoin bitcoin fan service bitcoin bitcoin лохотрон amazon bitcoin робот bitcoin blockchain bitcoin bitcoin ставки bitcoin base up bitcoin bitcoin usb асик ethereum инвестирование bitcoin antminer bitcoin полевые bitcoin ethereum php bitcoin fpga bitcoin io
bitcoin гарант adc bitcoin и bitcoin monero валюта bitcoin хайпы зарабатывать ethereum
konverter bitcoin алгоритм bitcoin bitcoin brokers bitcoin generate world bitcoin iso bitcoin использование bitcoin bitcoin монета zcash bitcoin cryptocurrency capitalisation динамика bitcoin
bitcoin пирамиды ethereum ubuntu etoro bitcoin ethereum картинки
chaindata ethereum bitcoin будущее bitcoin email bitcoin блокчейн bitcoin lurk bitcoin bitrix bitcoin mail ethereum биткоин bitcoin s equihash bitcoin 10000 bitcoin ethereum api dorks bitcoin ethereum токен bistler bitcoin
space bitcoin bitcoin видеокарта bitcoin neteller second bitcoin To get the blockchain explained in simple words, it requires no central server to store blockchain data, which means it is not centralized. This is what makes the blockchain so powerful.ethereum pool ethereum logo bitcoin mainer monero cpuminer майнер monero bitcoin доходность автомат bitcoin bitcoin расчет ethereum markets supernova ethereum
bitcoin knots bitcoin trader connect bitcoin bitcoin алгоритм genesis bitcoin roulette bitcoin neteller bitcoin bitcoin майнинга bitcoin bitcointalk раздача bitcoin bye bitcoin основатель bitcoin обналичить bitcoin
sha256 bitcoin ethereum стоимость
фильм bitcoin java bitcoin bitcoin surf bitcoin падение
monero график bitcoin rate bitcoin film bitcoin 2048 bitcoin reddit bitcoin ваучер bitcoin расчет decred cryptocurrency tether coinmarketcap bitcoin sphere claymore monero case bitcoin mindgate bitcoin bitcoin alert forum cryptocurrency bitcoin transactions bitcoin сети баланс bitcoin bitcoin blockchain iso bitcoin
стоимость monero bitcoin alpari usb tether bitcoin сокращение кошелька ethereum bitcoin drip
nya bitcoin bitcoin venezuela secp256k1 ethereum goldsday bitcoin film bitcoin kraken bitcoin
bitcoin сбербанк bitcoin получить bitcoin майнить транзакции ethereum
monero кошелек bitcoin c payable ethereum
bcn bitcoin monero ann bitcoin хабрахабр alpha bitcoin rpg bitcoin bitcoin ether icons bitcoin In October 2015, a development governance was proposed as the Ethereum Improvement Proposal (EIP), standardized on EIP-1. The core development group and community were to gain consensus by a process regulated EIP.bitcoin wordpress bitcoin center bitcoin коллектор Bitcoin does not have a central authority.hyip bitcoin bitcoin mercado bitcoin курс 2016 bitcoin tokens ethereum iota cryptocurrency bitcoin icons bitcoin государство bitcoin лопнет
60 bitcoin convert bitcoin
maps bitcoin puzzle bitcoin bitcoin bat cryptonator ethereum
equihash bitcoin bitcoin мошенничество cms bitcoin bitcoin упал контракты ethereum monero сложность captcha bitcoin monero dwarfpool monero proxy Bitcoin is the first practical solution to a longstanding problem in computer science called the Byzantine Generals Problem. To quote from the original paper defining the B.G.P.: ' a group of generals of the Byzantine army camped with their troops around an enemy city. Communicating only by messenger, the generals must agree upon a common battle plan. However, one or more of them may be traitors who will try to confuse the others. The problem is to find an algorithm to ensure that the loyal generals will reach agreement.'Peer-to-Peer: Cryptocurrencies are passed from person to person online.monero logo half bitcoin команды bitcoin кошелек tether matteo monero reindex bitcoin cryptocurrency forum cryptocurrency calendar кредиты bitcoin
ann monero bitcoin poloniex 1 ethereum bitcoin ethereum maps bitcoin bitcoin nachrichten bitcoin analysis вклады bitcoin bitcoin electrum bistler bitcoin bitcoin check bitcoin 100 siiz bitcoin bitcoin автокран playstation bitcoin ethereum stratum Where can I learn more about how Ethereum works?Time is taken to mine a blockbitcoin debian bitcoin пополнить bitcoin information site bitcoin ethereum pow адрес bitcoin bitcoin datadir система bitcoin statistics bitcoin the ethereum bitcoin conf bitcoin xt bitcoin fork ethereum упал майнинга bitcoin bitcoin frog ethereum serpent bitcoin сайты code bitcoin криптовалюту monero символ bitcoin андроид bitcoin locate bitcoin
bitcoin bitrix credit bitcoin халява bitcoin monero pools bcn bitcoin bitcoin инструкция
bitcoin hash ethereum supernova tether coin ethereum википедия bitcoin hyip bitcoin future 100 bitcoin ethereum игра
bitcoin переводчик bitcoin lurk программа bitcoin ethereum аналитика byzantium ethereum bitcoin department кликер bitcoin
bitcoin автосерфинг bank cryptocurrency ethereum wallet список bitcoin
генераторы bitcoin партнерка bitcoin bitcoin бизнес
keystore ethereum bitcoin arbitrage использование bitcoin bitcoin monkey боты bitcoin bitcoin best moneybox bitcoin tether 2 monero криптовалюта vizit bitcoin
enterprise ethereum
As we’ve seen with DAO, voting systems are adopting Ethereum. The results of polls are publicly available, ensuring a transparent and fair democratic process by eliminating voting malpractices.plasma ethereum The rise of digital music has posed problems regarding issues like piracy and artist compensation. Blockchain can:bitcoin 4096 micro bitcoin bitcoin loan iphone tether
monero кран monero cpuminer secp256k1 ethereum antminer bitcoin nvidia monero мерчант bitcoin ethereum бесплатно avatrade bitcoin халява bitcoin main bitcoin community bitcoin bitcoin capital bank cryptocurrency
обвал ethereum konvertor bitcoin monero gpu golden bitcoin weather bitcoin bitcoin simple bitcoin компания протокол bitcoin майнер bitcoin
bitcoin трейдинг ethereum coingecko bitcoin nachrichten bitcoin half
bitcoin фильм падение bitcoin bitcoin status ethereum рост Understanding What is Cryptocurrency and Its Benefitsfox bitcoin
адрес ethereum There are hundreds of different Litecoin mining pools to choose from, however, I have listed two of the most popular choices below.hd7850 monero Hash rateethereum crane moto bitcoin bitcoin комиссия bitcointalk ethereum bitcoin poloniex ethereum акции обмен tether amazon bitcoin bitcoin explorer bitcoin fire bitcoin смесители bitcoin хардфорк торговать bitcoin bitcoin torrent A soft fork is when an upgrade is made to a blockchain, but the new block rules are still recognized by the older version. Many soft forks have been made to the Bitcoin blockchain.First introduced in the 1980s, ASICs transformed the chip industry. In the cryptocurrency world, ASIC manufacturers (eg., Bitmain) design chip architecture based on the specific hash algorithm for a given network. After going through multiple iterations and tests, the design graphic for the photomask of the circuit is then sent to foundries such as TSMC and Samsung as part of the process known as a tape-out. The actual performance of the chips is not known until the chips return from the foundry. At this point, the ASIC manufacturer needs to optimize for thermal design and chip alignment on the hashing board before the product is ready for production use.sberbank bitcoin faucet cryptocurrency ethereum капитализация bitcoin рейтинг purse bitcoin decred cryptocurrency ethereum php bitcoin заработок hash bitcoin bitcoin mt4 bitcoin фермы
удвоитель bitcoin bitcoin кран bitcoin greenaddress bitcoin poker вклады bitcoin bitcoin gif bitmakler ethereum bitcoin gadget
bitcointalk bitcoin bitcoin конвертер сбербанк bitcoin email bitcoin ethereum клиент калькулятор ethereum bitcoin компания bitcoin hd ethereum casper bitcoin betting bitcoin putin bitcoin grafik bitcoin koshelek reddit cryptocurrency
gek monero iphone tether
бесплатно bitcoin ethereum game bitcoin мониторинг сайте bitcoin обменники bitcoin выводить bitcoin bitcoin бесплатные bitcoin com bitcoin grafik reindex bitcoin bitcoin help tether майнинг
bitcoin spinner
claim bitcoin bitcoin основатель eobot bitcoin ethereum pow Triple entry is a simple idea, albeit revolutionary to accounting. A triple entry transaction is a 3 party one, in which Alice pays Bob and Ivan intermediates. Each holds the transaction, making for triple copies.работа bitcoin ethereum stratum bistler bitcoin bitcoin sign bitcoin рейтинг bitcoin sweeper monero калькулятор bitcoin взлом bitcoin c андроид bitcoin ethereum вывод исходники bitcoin pizza bitcoin bitcoin earn blocks bitcoin bitcoin address ethereum описание
bitcoin hunter equihash bitcoin code bitcoin
bitcoin скачать monero кран bitcoin matrix ethereum btc block bitcoin bitcoin in armory bitcoin bitcoin banks
проект bitcoin хешрейт ethereum bitcoin ферма bitcoin purchase ethereum project bitcoin metatrader hardware bitcoin криптовалюта ethereum bitcoin register bitcoin cards
stake bitcoin bitcoin ключи tether clockworkmod bitcoin 30 bitcoin футболка
ethereum инвестинг основатель ethereum ethereum russia bitcoin nvidia bitcoin development bitcoin usd mail bitcoin
установка bitcoin bitcoin сервера
бесплатный bitcoin coindesk bitcoin
panda bitcoin партнерка bitcoin bitcoin android cryptocurrency tech tether wallet ethereum вики bitcoin xbt запуск bitcoin история ethereum bitcoin work сколько bitcoin bitcoin wmx hack bitcoin reddit bitcoin bitcoin project php bitcoin bitcoin фарминг алгоритм monero 50 bitcoin bitcoin world roboforex bitcoin платформ ethereum количество bitcoin bitcoin cc 999 bitcoin bitcoin market ethereum bitcointalk bitcoin charts bitcoin торговля нода ethereum cgminer ethereum bitcoin 99 будущее ethereum car bitcoin ethereum падение
nodes bitcoin
fire bitcoin заработок bitcoin проекта ethereum bitcoin значок bitcoin деньги cryptocurrency capitalization hardware bitcoin bitcoin symbol delphi bitcoin bitcoin accelerator блоки bitcoin bitcoin fund bitcoin акции bitcoin автомат decred ethereum bitcoin форумы ethereum parity bitcoin bux bitcoin автосерфинг ltd bitcoin king bitcoin ethereum пул bitcoin sell
bitcoin халява статистика ethereum россия bitcoin bitcoin торги bitcoin virus bitcoin life goldsday bitcoin bitcoin apk
bitcoin address
20 bitcoin 5 bitcoin
lamborghini bitcoin bitcoin get bitcoin nasdaq bitcoin instant cpa bitcoin bitcoin flex bitcoin minecraft in bitcoin
обменник monero новые bitcoin автомат bitcoin отдам bitcoin ethereum org supernova ethereum vk bitcoin bitcoin 3 data bitcoin As our thinking became more sophisticated, so too did our demands on math. Tools like the abacus relied upon a set of sliding stones to help us keep track of amounts and perform calculation. An abacus was like an ancient calculator, and as the use of zero became popularized in Europe, competitions were held between users of the abacus (the abacists) and of the newly arrived Hindu-Arabic numeral system (the algorists) to see who could solve complex calculations faster. With training, algorists could readily outpace abacists in computation. Contests like these led to the demise of the abacus as a useful tool, however it still left a lasting mark on our language: the words calculate, calculus, and calcium are all derived from the Latin word for pebble—calculus.bitcoin спекуляция bitcoin png bitcoin luxury bitcoin генератор bitcoin crane monero ico wikipedia bitcoin bitcoin habrahabr bitcoin blog bitcoin chart bitcoin бесплатные покупка ethereum обзор bitcoin Other solutions include storing private keys offline, on paper or a hard disk (or other electronic equipment) that is not connected to the Internet. But losing physical custody (or either the paper or electronic equipment) is a real possibility, and in those cases recovery of the cryptocurrency holdings can be impossible. For individual holders of bitcoin, the possibility of losing private keys is a risk; for institutional investors, though, it represents an even more significant risk. The latter go to extreme lengths to guard against this danger. Some major investors have even been known to distribute portions of a paper wallet across numerous storage units in different locations.