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 transaction падение ethereum habrahabr bitcoin bitcoin collector
bitcoin конвертер
1 ethereum golden bitcoin
bitcoin best bitcoin cryptocurrency bitcoin it bitcoin wordpress падение ethereum bistler bitcoin carding bitcoin bitcoin автосерфинг ecopayz bitcoin
monero обмен
bitcoin приложения tether курс boom bitcoin bitcoin symbol карты bitcoin fpga ethereum ethereum прибыльность business bitcoin ethereum block bitcoin tools bitcoin neteller
ethereum доходность bitcoin apk An offline environment plays a key role in most cold storage schemes. Two main components make up this environment: an offline computer for generating keys and signing transactions; and an offline storage medium for holding private keys.бизнес bitcoin фьючерсы bitcoin rigname ethereum bitcoin лотерея bitcoin froggy web3 ethereum microsoft ethereum
ubuntu bitcoin 2016 bitcoin bitcoin bot crococoin bitcoin отзыв bitcoin spend bitcoin monero продать dice bitcoin tor bitcoin
bitcoin rpg bitcoin сбербанк bitcoin блог tether валюта ethereum contracts bitcoin получить я bitcoin bitcoin motherboard torrent bitcoin trade cryptocurrency обменники bitcoin life bitcoin market bitcoin 1000 bitcoin падение ethereum bitcoin news bitcoin 3d all bitcoin bitcoin blocks bitcoin roll
vps bitcoin bitcoin cryptocurrency abc bitcoin bitcoin pps
maining bitcoin теханализ bitcoin ethereum ethash tether верификация теханализ bitcoin car bitcoin tether пополнить bitcoin delphi youtube bitcoin bitcoin wsj bitcoin steam eth ethereum tether программа значок bitcoin bitcoin tradingview bitcoin магазин delphi bitcoin bitcoin register
ethereum stratum bitcoin это bitcoin pools dat bitcoin flappy bitcoin добыча bitcoin testnet bitcoin store bitcoin
wired tether bitcoin pay
bitcoin депозит auto bitcoin bitcoin инвестирование bitcoin презентация ethereum пул coin bitcoin bitcoin компания ethereum coins сайт ethereum ubuntu ethereum bank bitcoin world bitcoin
wirex bitcoin monero usd bitcoin car bitcoin maps bitcoin review tether bootstrap стоимость bitcoin bitcoin nachrichten bitcoin hosting bitcoin analytics
cranes bitcoin bitcoin blog cryptocurrency ico bitcoin accelerator tether комиссии расчет bitcoin бесплатно ethereum bitcoin nasdaq bitcoin best SECbitcoin ukraine In Russia, though cryptocurrencies are legal, it is illegal to actually purchase goods with any currency other than the Russian ruble. Regulations and bans that apply to bitcoin probably extend to similar cryptocurrency systems.lottery bitcoin bitcoin fasttech
Objection: Bitcoin Is Not Worse, It’s BetterCryptocurrencies are used primarily outside existing banking and governmental institutions and are exchanged over the Internet.bitcoin trader Example: 7,997,769 (99.97%)bitcoin краны cpp ethereum security bitcoin
падение ethereum bitcoin кэш bitcoin free дешевеет bitcoin bitcoin отследить currency bitcoin bitcoin seed
майнинга bitcoin bitcoin get nonce bitcoin bitcoin кранов компиляция bitcoin bitcoin пулы bitcoin переводчик bitcoin dump bitcoin neteller терминалы bitcoin ethereum логотип tether android
monero xeon bitcoin вконтакте wallet cryptocurrency bitrix bitcoin total cryptocurrency golden bitcoin bitcoin анализ купить bitcoin cpa bitcoin moon ethereum bitcoin timer tether 4pda
monero usd etoro bitcoin bitcoin сайт japan bitcoin bitcoin ethereum wm bitcoin tether bootstrap ethereum homestead
сети ethereum bitcoin вложения bitcoin analysis lealana bitcoin bitcoin trading ethereum habrahabr сайте bitcoin bitcoin today казино bitcoin заработок bitcoin книга bitcoin ethereum ротаторы bitcoin адреса анонимность bitcoin котировки bitcoin bitcoin get bitcoin mempool gek monero bitcoin заработок бесплатные bitcoin bitcoin apk bitcoin today mixer bitcoin accepts bitcoin
programming bitcoin bitcoin mempool hub bitcoin bitcoin видеокарта time bitcoin bitcoin кран bitcoin mining bitcoin сервисы bitcoin utopia nubits cryptocurrency
bitcoin майнить bitcoin картинка bitcoin бесплатный ethereum serpent bitcoin formula bitcoin начало poloniex monero monero difficulty bitcoin weekend технология bitcoin box bitcoin стоимость monero gui monero bitcoin motherboard card bitcoin bitcoin like reddit ethereum tinkoff bitcoin bitcoin автомат bitcoin jp bounty bitcoin ethereum токен bitcoin auto course bitcoin steam bitcoin pro100business bitcoin bitcoin etf bitcoin hype bitcoin роботы
bitcoin блог machine bitcoin bitcoin phoenix форумы bitcoin time bitcoin The block (or container) carries lots of different transactions, including John’s. Before the funds arrive in Bob’s wallet, the transaction must be verified as legitimate.виталий ethereum In other words, decentralization and scalability are currently at odds, but developers are hunting for ways around this.top bitcoin bitcoin buying autobot bitcoin ethereum poloniex
mining bitcoin bitcoin litecoin ann ethereum ethereum investing xbt bitcoin биржа monero waves bitcoin ethereum видеокарты monero форк bitcoin 3 ютуб bitcoin bitcoin indonesia pool bitcoin linux ethereum bitcoin registration обменники bitcoin aml bitcoin bitcoin видеокарты bitcoin теханализ bitcoin информация алгоритм bitcoin bitcoin direct bitcoin баланс ethereum block monero пул bitcoin rpc bitcoin habr bitcoin создать
finney ethereum описание bitcoin bitcoin продать invest bitcoin flash bitcoin bitcoin обменять
roboforex bitcoin bitcoin trinity oil bitcoin
wallpaper bitcoin bitcoin delphi monero hardware Ethereum's suggested Slasher protocol allows users to 'punish' the cheater who forges on top of more than one blockchain branch.генераторы bitcoin q bitcoin
app bitcoin
список bitcoin удвоитель bitcoin converter bitcoin bitcoin trezor платформ ethereum lamborghini bitcoin bitcoin buy bitcoin trinity
заработать monero trezor bitcoin euro bitcoin bitcoin лучшие автомат bitcoin альпари bitcoin bitcoin capital ethereum прогноз
bitcoin rpg cryptocurrency arbitrage panda bitcoin ethereum tokens blogspot bitcoin planet bitcoin bitcoin sec analysis bitcoin monero пулы bitcoin exchanges ethereum news баланс bitcoin bitcoin вывести swiss bitcoin bitcoin статья monero rur генераторы bitcoin
bitcoin протокол bitcoin игры сборщик bitcoin simple bitcoin zcash bitcoin alpari bitcoin майнер bitcoin
bitcoin расшифровка фермы bitcoin monero новости обвал ethereum bitcoin tm китай bitcoin bitcoin swiss bitcoin plugin добыча bitcoin ethereum faucet email bitcoin андроид bitcoin автоматический bitcoin nicehash bitcoin форумы bitcoin best cryptocurrency bitcoin daemon
bitcoin динамика стоимость bitcoin bitcoin hd ethereum org loan bitcoin bitcoin exchange rpc bitcoin bitcoin quotes серфинг bitcoin 50 bitcoin рейтинг bitcoin panda bitcoin coin ethereum ethereum exchange bitcoin cc bitcoin пулы bitcoin s moneybox bitcoin эфир ethereum iota cryptocurrency bitcoin криптовалюта сбербанк bitcoin торрент bitcoin bitcoin redex algorithm bitcoin bitcoin darkcoin monero hardware bitcoin knots
иконка bitcoin
обзор bitcoin ethereum core fields bitcoin ethereum tokens портал bitcoin blogspot bitcoin ethereum asics nxt cryptocurrency bitcoin алгоритм bitcoin masters bitcoin buying pplns monero monero pools bitcoin poker clockworkmod tether bitcoin hash проблемы bitcoin
bitcoin aliexpress ninjatrader bitcoin bitcoin cudaminer bitcoin mac bitcoin 20 check bitcoin bitcoin magazine bitcoin sha256 аналоги bitcoin bitcoin vip биткоин bitcoin cz bitcoin bitcoin global bitcoin charts
bitcoin приложение банк bitcoin ethereum news отслеживание bitcoin status bitcoin создатель bitcoin
взлом bitcoin bitcoin 2020 boom bitcoin bitcoin удвоить Ameer RosicThe system of checks and balances, with four stakeholders, is detailed belowрулетка bitcoin ethereum фото FinCEN has published that Bitcoin miners aren't taken as Money Transmitters under the Act of Bank Secrecy and clarified recently that cloud mining services provides are as well not considered as Money Transmitters.keys bitcoin перспективы ethereum bitcoin пузырь bitcoin видеокарты перспективы bitcoin заработок bitcoin reklama bitcoin bitcoin index tera bitcoin bitcoin символ love bitcoin кости bitcoin tether верификация bitcoin rotator swarm ethereum количество bitcoin block bitcoin monero форк course bitcoin ethereum siacoin ethereum geth
bitcoin продам перевод tether отследить bitcoin новости bitcoin виталик ethereum транзакции bitcoin trade cryptocurrency buy tether monster bitcoin ltd bitcoin bitcoin masternode poloniex ethereum bitcoin com сбербанк bitcoin monero xmr полевые bitcoin tether coin bitcoin network bitcoin faucet
блокчейн ethereum стоимость monero bitcoin кредит mine ethereum ethereum pow monero transaction bitcoin kazanma
claim bitcoin bitcoin покер баланс bitcoin терминал bitcoin краны monero amazon bitcoin bitcoin получить mempool bitcoin автокран bitcoin txid bitcoin обменник monero bitcoin blocks bitcoin алгоритм bitcoin delphi ethereum wikipedia ethereum вики bitcoin mining
bitcoin вход валюта bitcoin
bitcoin пузырь иконка bitcoin bitcoin price андроид bitcoin bitcoin carding
купить bitcoin bitcoin foundation market bitcoin надежность bitcoin lealana bitcoin debian bitcoin сети ethereum ethereum википедия продажа bitcoin технология bitcoin займ bitcoin
credit bitcoin casinos bitcoin робот bitcoin bitcoin зебра
bitcoin зарегистрировать monero pools
bitcoin dollar siiz bitcoin ethereum news ethereum chart
keystore ethereum форки ethereum bitcoin mining конвертер bitcoin bitcoin trust monero coin bitcoin check ethereum serpent ethereum курсы This article challenges that view by showing nearly all of the technical components of bitcoin originated in the academic literature of the 1980s and 1990s . This is not to diminish Nakamoto's achievement but to point out he stood on the shoulders of giants. Indeed, by tracing the origins of the ideas in bitcoin, we can zero in on Nakamoto's true leap of insight—the specific, complex way in which the underlying components are put together. This helps explain why bitcoin took so long to be invented. Readers already familiar with how bitcoin works may gain a deeper understanding from this historical presentation. Bitcoin's intellectual history also serves as a case study demonstrating the relationships among academia, outside researchers, and practitioners, and offers lessons on how these groups can benefit from one another.отзыв bitcoin отзыв bitcoin bitcoin миксер
