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Miningpools

When you mine cryptocoins, SHA-256 or Scrypt, you might use a miningpool. Most of the miners choose to join one the large miningpools. Nothing wrong with that but one the essential things of cryptomining is that it is decentralized. When everybody joins just the large pools, 2 or 3 organisations/pools have some sort of monopoly or you can see it as a single point of failure. When a large pool is offline it has great impact on the network. Most large pools have fees from 1%, 2% to 5%. Of course the need to pay for servers and stuff but they also want to make big bucks with their pool. I believe that is not the essence of the cryptocoin protocol. Making some (small) profit is no problem, but millions…..

So I advise miners to join a smal(ler) miningpool. I mine Litecoins (LTC) at http://www.mining-foreman.org , they also have a Feathercoin (FTC) pool. This pool needs some more miners (but not too many 🙂 ) to get the hashrate a bit higher so blocks are found a little faster than we do now. They now have a small award for block finders:  1LTC reward for the next 5 valid block finders!. So join us!

Peercoin (PPC) I mine at d7.lt

Bitcoins are mined at Eligius . Yes I know, this is a rather large miningpool but it’s owned by the maker of BFGminer. One the best (free/opensource) miningsoftware for mining crypto coins there is, so I want to support him. It’s  a 0% fee miningpool, but you can always donate what you want.

This is just how I think about miningpools, feel free to choose any pool you like. More info about miningpools you will find at several forums.

Some usefull links:

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2 Comments

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