Bitcoin mining – Howto find best paying pool, Earn Bitcoins Howto 2015 – Bitcoins FAQ

You want to earn Bitcoins ? Wij vertoning you how to earn Bitcoins with mining, cloud mining and review sites who offerande free Bitcoins or Bitcoin affiliate programs.

Unluckily, i began mining with my own hardware only Four weeks ago, so i missed the “great times” where mining wasgoed effortless and you could not lose money. Today its a bit more complicated – you have ASICs (Application Specific Integrated Circuits) mining hardware, which is designed for mining SHA-256 coins (=Bitcoin) te the 3rd generation like the antminer s4, next year the 4th generation will be released with more power and less energy consumption. But so i can give you very actual numbers for december 2014 that i have proved and you can profit from this brand fresh numbers.

Very first ask yourself from basic maths what can i earn spil maximum by mining bitcoins?

If you have an Antminer S4, this bitcoin asicminer will bring you around Two TH/s – this means, vanaf 2nd it can calculate Two ‘ 10^12, ergo Two,000,000,000,000 Hashs vanaf 2nd, its power consumption is about 1400 watts an hour (so you calculate your energy costs 24*1.Four = 33,6 kW vanaf day).

Okay now wij want to know what wij can expect with 2TH/s daily. Wij visit https://blockchain.informatie/plus/stats which is a very good resource for the actual numbers of bitcoin. And wij learn that the spil of today, december 13th 2014, the overall network hashrate is 282,407,063.08 GH/s, this means 282,407.06 TH/s.

The bitcoin network sets the difficulty to find a block te a way, that a fresh block is found every Ten minutes network-wide. So this means on average 144 blocks are found every day. So if you divide 282,407.06 TH/s / 144 blocks you get 1,961.16 TH/s.

If you would have a mining power of 1,961.16 TH/s running utter 24 hours, you would mathematically expect to find one block a day. Of course thats the expectation value, thats not assured, but if you do this long enough, this would be the average outcome.

Okay but wij said wij have “only” an Antminer S4 with 2TH/s – whats ter for us ?

So if you divide the daily power of 1,961.16 TH/s / Two TH/s the result is 980.58 days. This means, that you need 980.58 days to find a block – hmmm.

So since the ASIC hashpower will evolve within the next 6 months and no one can predict, how much TH/s you will need ter 6 or 12 month to keep your percentage of network hashpower, it’s not making sense to do solo mining and wait 980.58 days for your block and buy every 6 month fresh hardware to keep up with evolving network hashrate.

So wij have to join a mining pool to get daily payouts – fine! But which to choose?

The reason even with an antminer S4 you cant wait almost Trio years to have a big payout, you should join a mining pool. Thats where wij come to the headline – how to find the best paying, stable and reliable mining pool ?

Very first wij calculate what is the expected daily income with our Antminer S4 with 2TH/s. If it would take 980.58 days to find a block and earn the coin value of a block, if wij join a mining pool and add our power then wij would have an expected earn of 1 / 980.58 = 0.00101980460 share on a block each day.

Actually, you get 25.00 Bitcoin and transaction-fees (thats around 0.01 – 0.15 extra Bitcoins) for finding a fresh block. The coin value of a block began at 50 Bitcoin, and reduces every 210,000 blocks by half. Actually block number is 334,180 so when block number reaches 420,000, you only earn 12.Five BTC a block and so on, so mining will get more unprofitable.

So your expected daily income with 2TH/s is 25.05 (i use this average block value for miners) bitcoin * 0.00101980460 = 0.02554610523 Bitcoin.

Of course i have rounded thesis numbers while calculating, i hope you don’t worry about this, this is just your expectation value vanaf day to have a number you can compare pool results with, i think wij round a bit more and have 0.025546 BTC spil an expected earning vanaf day.

That brings back the question on tens unit cost: 0.025546 BTC valued te US$ (actual price 350 US$/BTC) is 8.9411 US$. For generating this “big income” you need 1,400 watts * 24 hours = 33,600 watts. So if you would mine just for joy you could afford mining when you pay around 8.9411 US$ / 33.6 kwatts = 0.266 US$/kwatts. If you pay more, leave behind mining, maybe when the bitcoin price rises to 1,000 US$ you can switch on your miner again.

Hey, your headline wasgoed how to find the best paying mining pool ?!

Okay i just wished you to understand my calculations – because some pools write they have 0% network toverfee and i still do only believe things i tested myself, you have of course sometimes other (hidden) fees, some networks can cheat or have different payout calculations like p2pool, PLNS, PPS and i desired to see whats the best te real life, so here wij go:

I used the last Two weeks to run several bitcoin mining pools parallel and track each pool results to compare them now and share this with you. Please understand that i of course did not a laboratory – science – proved evaluation of this gegevens, i used an Antminer S1, Five Antminer S3, 1 Antminer S4 and applied different TH/s hashpowers to different mining pools and made all calculations using open office. Of course also 14 days is not a time range to avoid variances, so i just want to showcase you the big picture – but i keep this table updated. Please note that i did not include P2Pool, because i never got a share there and had no earnings, so the results can’t be compared, but i also keep mining, if i find a share, i’ll update the stats.

So compared to our expected average maximum daily earnings of 0.025546 BTC with 2TH/s – which – unrealistically – did not include any network fees and would assume, that each mining pool would provide everything for free, i got the following real-life earnings ter the last 14 days:

(*) Bitcoin affiliate network and Discus Fish are special mining pools, where you get paid for your mining power directly on a immobile rate. Actually thesis days i sent my hashpower to Bitcoin affiliate network, my rate wasgoed 0.0000000006248832 BTC vanaf share. Your share pay rate is displayed under “Current PPS Rate” te the instrumentenbord “Payment information” section. Discus Fish doesnt publish such a share BTC rate, you can just see what you earned a day or the last 24 hours.

The problem here is that the holder of the pool pays a immobile rate to all miners calculated on their expected earnings. If the pool possessor is very unlucky and has some days te a row where he doesnt find a share, than he could go bankrupt. I have expierienced some tijdvakken with bitcoinaffiliate network, where they didn’t pay every Two hours and you have to wait some more time to get your bitcoin payout. So be careful watching your payouts when using such a pool – its a higher risk.

For mij spil a result i linked now half of my hashing power to Antpool and the other half to Slush’s Pool, spil failover Pool i set Bitcoinaffiliatenetwork – when one of my primary pools are off or practice problems, i earn at least a immovable amount of bitcoin for my hashrate.

Extra hints for using thesis mining pools

I experienced some beginner problems using thesis different pools, so i will add some more pool-related information here which could be useful to you. Please note also that the values “actual hashpower share of Bitcoin network” and “actual average found blocks / day” are my calculated values for the last 7 days assuming that the network hashrate (spil stated by blockchain.informatie) is onveranderlijk at 280 PH/s, of course this is an estimate and varies a bit from the own hashrate each of thesis networks publishes. Especially slush, one of my dearest pools, had a very bad day on december, 12th with one orphan block and only 1 block found the entire day, but slush also found 11 blocks on december 14th, so i think the numbers vertoning you the trend, but can of course not be precies ter a 7 day range and network hashrate of course also varies and is not precies 280 PH/s.

  • actual hashpower share of Bitcoin network: Ten.91%
  • actual average found blocks / day: 15.43
  • pool toverfee: 0%
  • signup URL: https://www.antpool.com/
  • mining URL: stratum+tcp://solo.antpool.com:3333

Antpool is the mining pool from the manufacturers of antminer mining hardware. They offerande a 0% toverfee, daily payouts and an effortless web interface for statistics. I like the idea that this mining hardware manufacturer supports his clients by providing a 0% pool toverfee service. And the results voorstelling, that they do their best to keep this promise. Don’t worry because their webserver is truly slow, but the connections to the mining pool is very good, you see ter my payout results.

Attention! Its a bit confusing because you can either use a pool solo.antpool.com:3333 or p2p.antpool.com:3333. You should choose the solo.antpool.com that means NOT that you are solo mining (with an whooping expected time of Three years to see your very first BTC income), solo mining here stands for the normal pool mining, you get rewarded here for each block Antpool finds. The 2nd pool p2p.antpool.com is a P2Pool mining knot if you like to join a stable P2Pool knot.

  • actual hashpower share of Bitcoin network: Three.13%
  • actual average found blocks / day: Four.43
  • pool toverfee: 2%
  • signup URL: http://mining.bitcoin.cz
  • mining URL: stratum+tcp://stratum.bitcoin.cz:3333

I indeed like Slush’s pool (mining.bitcoin.cz) because it has an effortless and elementary interface and shows whats needed to be shown. They are doing a webstek relaunch for the user interface with fresh good features, charts and statistics. Slush wasgoed the very first who opens a mining pool for Bitcoin miners and also contributed the stratum protocol to the Bitcoin world, which now every pool takes advantage from. You get your payouts prompt and without problems.

Attention! You can by hand set a ondergrens difficulty for each of your workers. So if you use an Antminer S4 you have to set the difficulty for this worker to 2048 because the S4 disregards difficulties less than 2048.

Bitcoin Affiliate Network

  • actual hashpower share of Bitcoin network: 0.61%
  • actual average found blocks / day:
  • signup URL: https://mining.bitcoinaffiliatenetwork.com/
  • mining URL: stratum+tcp://geo.bitcoindigger.com:3333

Botcoin Affiliate Network pays you a motionless price vanaf share when you apply your mining power here. The payouts are every Two hours, so you can lightly check when there are problems and your payouts don’t arrive every Two hours you could switch your miners to another pool until your payment arrives. You automatically mine extra Namecoins te merged mining when using Bitcoin Affiliate Network which you can transfer to your namecoin address and sell on one of the cryptocurrencies internet exchanges.

Attention! If you want to use an Antminer S4 you have to use port 3335 to get a immovable 2048 difficulty to reach your S4 miners total Two TH/s hash power: stratum+tcp://geo.bitcoindigger.com:3335

  • actual hashpower share of Bitcoin network: 23.23%
  • actual average found blocks / day: 32.86
  • signup URL: https://www.f2pool.com/
  • mining URL: stratum+tcp://stratum.f2pool.com:3333

Discus Fish is actually the fattest mining pool of the Bitcoin network. Discus Fish also pays you a immovable amount for your hashing power, but you see only the actual earnings, earnings of the last 24 hours and sum of your payouts, so the statistic part of the user interface is a bit undervalued there But Discus Fish is my dearest pool for mining Litecoin (LTC), if you have a scrypt miner and want to mine Litecoins, you can use port 8888 of the mining URL for LTC mining.

  • actual hashpower share of Bitcoin network: Trio.54%
  • actual average found blocks / day: Five.00
  • pool toverfee: 0%
  • signup URL: http://eligius.st/

Eligius is also a Zero-Fee Bitcoin mining pool, its very effortless to setup – you dont have to register you just send your Bitcoin Address spil workername and your payouts will be sent to your address automatically.

  • actual hashpower share of Bitcoin network: Four.04%
  • actual average found blocks / day: Five.71
  • pool toverfee: 2%
  • signup URL: https://www.btcguild.com/
  • mining URL (Europe): stratum+tcp://eu-stratum.btcguild.com:3333

BTC Guild is also one of the “older” mining pools who embarked some years ago. If you mine with BTC Guild you also generate Namecoins, you can payout your Balance of Bitcoin and Namecoins seperately. BTC Guild has very good statistics and charts so you can understand their payout system very quick and intuitive.

Attention! You can set ondergrens difficulty here also for each worker seperate. So dont leave behind if you mine with an Antminer S4 setting the difficulty for this worker to 2048.

  • actual hashpower share of Bitcoin network: 16.06%
  • actual average found blocks / day: 22.71
  • pool toverfee: 0%
  • signup URL: https://ghash.io/
  • mining URL (Europe): stratum+tcp://uk1.ghash.io:3333

For beeing the 2nd largest pool ter Bitcoin network, the spectacle is poor. Officially there is a 0% pool toverfee, but if you see the results – strange. Maybe the 14 day test wasgoed a bad luck period for GHASH. With GHASH Bitcoin mining you also automatically mine for Namecoins. GHASH offers also LTC+DOGE and Multipool mining for scrypt miners. GHASH is part of the cryptocurrency exchange CEX.IO, so you can exchange your mined NMC, LTC, DOGE and other currencies with only some clicks.

Thank you for reading this, if you have any questions feel free to leave a comment.

If you liked this postbode and find it useful, i would appreciate a donation to my bitcoin address: 1E1ScT5gVRhHsA42CGPUB1sdNrA3GngNAX

Related movie: Free Bitcoin – Cryptotab Earn Free Bitcoin BTC


Leave a Reply