Best bitcoin pool for slow miners: has that ship sailed?

Best bitcoin pool for slow miners: has that ship sailed?

The article is about:

  • inefficiency of slow BTC mining;
  • what the slow miners are;
  • some technical features of ASICs;
  • the best pools are for the best miners;
  • payout systems at pools as your target;
  • mining BTC stopped being ones hobby.

BTC mining recently became possible only for large companies with sufficient resources to support the process, but the very existence of the best bitcoin pool for slow miners still catches users’ imagination. There are a lot of mining equipment models in the market. It is more than enough, and the number of offers is increasing every day. For bitcoin as the most popular and promising cryptocurrency you need the best, the most productive and, therefore, the most expensive facilities. Needless to say, with the help of home-mining you will not be able to earn your first bitcoin? Fans-enthusiasts use faucets with might and main, collecting small parts of bitcoins in satoshi. After all this, will someone else say that the best bitcoin mining pool for slow miners is still actual?

About slow miners

What types of equipment can be defined as “slow miners”? There is no need even to mention graphic chips and processors here. They are absolutely unsuitable for BTC mining nowadays. Even if you collect a whole system of several powerful computers, it will not be enough. In this case, it would be more appropriate to mine other types of cryptocurrency, for example DOGE but is completely vain for BTC. The special devices for mining so-called ASICs opened the opportunity to accelerate the process significantly. The abbreviation stands for “application-specific integrated circuit”. What specific tasks can this integrated circuit solve? Are these units used for mining only?

ASICs have long and successfully been used to solve various technical problems. If you see somewhere such a title, this does not mean that it is all about mining. Circuits are integrated as a chip into various types of devices, for example, for hardware audio and video signals encoding and decoding. Application specific integrated circuits have limited functionality, i.e. they cannot be used for other purposes. In this regard, the graphics chip is much more attractive: even if you stop mining, then an expensive GPU can be used to upgrade a computer or be sold to fans of demanding games.

The best bitcoin mining pool for slow miners is relevant for those who once bought ASIC, but at the moment this equipment is considered to be out-of-date by all accounts. Its hashrate is not enough not only for solo mining, but also for being a full member of the pool. Among the out-of -date ASICs there are models of the first generation. These are compact USB Block Erupters. They can be accurately given to the museum of cryptocurrencies. Home Antminer S1 and S3 have a low hashrate and are also equipped with weak fans. There is no sense in them. Moreover their production has been already stopped.

What is the reason? What power are we talking about? The power of the device is its hashrate namely how many hashes it can process per second. The hash function, in turn, is a mathematical data array transformation into a short line. The hash function for bitcoin is denoted as SHA-256. The new and powerful equipment processes a huge amount of information in order to assemble the block finally. The process can be compared with the tons of sand are washed in the mines in search of a golden nugget. A fast and modern machine has more chances to make its owner wealthy than the hard and unproductive manual labor.

So, if your ASIC was produced a few years ago, and its power doesn’t meet the growing requirements, the only way to earn is to join a pool in which many users perform the same task. But is there any pool that will take in its ranks slow and inefficient workers?

Mining pools, their abilities and requirements

Mining pool is a service that unites users around for joint bitcoins or alternative coins mining. The servers hosting the pools are owned by big blockchain companies or even private individuals. Theoretically, anyone who has certain skills in programming and financial resources can create his own pool.

A powerful pool ensures a stable and fairly high reward. The world hash is not unlimited and is divided between the largest players. Such pools as F2Pool, AntPool, BTC China are among them. These communities are all Chinese. (also known as Slushpool) has been popular for some time, but this resource is rapidly losing its previous positions.

Do you have equipment ready for work? In the settings of the mining software configurations, you must specify the address and the port of a pool that you have chosen. Your main goal, and this is understandable, is to get coins as soon as possible. Profit at pools is divided according to different principles. Here are some of them:

  • PROP – proportional division of reward. When calculating the block, the number of shares sent to the pool from your side is taken into account.
  • PPLNS – the pool requires not only sending shaders, but also doing this in a certain period of time, which depends on the policy of each service.
  • PPS – a fixed fee for each share. Such a system is more suitable for slow workers, but at the same time, these pools have the highest fee to reduce their probable risks.

As we can see from above the best bitcoin mining pool for slow miners exists only in theory. Is it possible to call any pool the best one if it does not bring profit? And whether the best pool allows somebody having poor facilities to become its participant? To crown it all weak equipment will work for wear and not be useful for the pool itself. Even such a way as the P2P resources will be ineffective. You will not get income and waste a lot of power in vain. All in all you have to pay for it too.

This situation has occurred not today or even in 2017. BTC mining requires very, very serious equipment because of the constantly increasing difficulty index. Beginners are better to pay attention to other positions in the list of cryptocurrencies, and stop dreaming about the best bitcoin pool for slow miners. There is no point in mining for slow workers and this business has ceased to be an opportunity to earn money from scratch. Such a method of virtual gold earning requires serious investments nowadays.