Topic: Any info mining pools ? (Read 397 times)
A mining pool is a joint group of cryptocurrency miners who combine their computational resources over a network to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency. Individually, participants in a mining pool contribute their processing power toward the effort of finding a block. If the pool is successful in these efforts, they receive a reward, typically in the form of the associated cryptocurrency.
The cost of mining is still relatively high, why not try to buy computing power products?
If mining pools are real? Or Fack?
LOL, of course there are real mining pools. It is better in those countries were mining is pretty much legal like China and government/Electricity companies does not extort out money for it.You need to knowledgeable about them from a local community which by my opinion is the best way to join one. But forget about joining one in India because the electricity cost here is will out-weigh the return of investment (ROI). You would have to buy a large number of miners to properly break even with the current market conditions when you sell compared to the hashpower that you buy for. Again you have to replace the miners with increase in hashpower - all in all not something that you do to "generate" money. It is more like a full time thing and definitely not in this climate.
Pools help get over this buying of large number of devices because you "share" the hashpower - but this does not really make a difference, because the bitcoin that you get as block subsidy is still in proportion to the hashpower that you donate.
If mining pools are real? Or Fack?
Can u explain me?
Depends on which mining pool you are talking about.Can u explain me?
People used to mine with a pool because the device they have can't generate any output at all. As a result, they mine through pool and it gets easier to find block, which: the reward, is distributed among all the contributed users.
Now, you have to ask question about specific pool. Some might be scam too.
If mining pools are real? Or Fack?
Can u explain me?
Can u explain me?
Have you guys joined any mining pools whether it be BTC or ETH ?
If yes, can you recommend some here. I need to know if there is a staking pool for ETH which I can join.
It doesn't necessarily be in India though.
If yes, can you recommend some here. I need to know if there is a staking pool for ETH which I can join.
It doesn't necessarily be in India though.
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