Review on Whalesburg by Samet ÇEÇEN
Mining btc
The mining pool concept is based on mining that forms the basis of cryptocurrencies. The mining pool has basically become mandatory for some cryptocurrencies such as bitcoin. To create a mining pool, many miners must meet on a common denominator. It is ensured that these processors, who come together and mine crypto money, join their forces. Then, all the earned income is jointly distributed to each participant that is included in the pool.
What are the Advantages and Disadvantages of a Mining Pool?
When you join the mining pool, you can think of it as getting a certain amount of luck. If you do not participate, you may be unable to earn any profit. For this reason, the number of participants is quite high. People who mine together and share the earnings often have concerns that the share will be small. This is mainly because of the large number of pool participants. Nevertheless, regular deposits of earnings allow for increased participation in the system.
Why is it Recommended?
It is recommended that some new investors start mining with the mining pool to ensure that they are familiar with this issue.
The reasons for this are:
Since the investor is still new in the market, he seeks ways to provide himself with short-term returns
The small-scale and regular profit of the pool.
It is ideal for encouraging new miners.
For these reasons, pool mining attracts the attention of many people, especially new investors.
How to Get Payments and Rewards?
One of the most popular aspects of the mining pool is the part where the rewards are received. The first thing to know is how these awards are received and how much they are distributed. The reward is given to the miner when blocks with certain ratios and difficulty levels are solved. The earnings also depend on how long the miner has been problem solving.
Payments
You have the chance to get paid per share in mining pools. This is the standard method. If the proportion is in the method used, it is presented equally to every individual in the pool
Pros
- earn free money
Cons
- The earning rate decreases as many people turn to mining
