Bitcoin Mining Pools Give Everyone a Chance To Be Involved

How would you like to be involved in the exciting world of bitcoin mining? Oh, you say that you don’t have enough equipment, or a fast enough computer, or enough technical know-how? You don’t have any money to invest? Or you’re not enough of an adventurous type to go about doing this kind of thing on your own? Well, there is little doubt that bitcoin is the playing field for very rugged individualists. And there is no room for the feint of heart.

But you can get around all of that, if you still want a piece of the action.

You can join what is known as a bitcoin “pool” In these organizations, people who don’t have the wherewithal, the time, the inclination or the money to be active in mining on an extensive basis can combine all of their resources to go after bitcoin loot. So, for example, if there are a hundred people involved in one of these things, their collective effort is said to be more effective than the effort of any single individual on their own. There is obviously a truth to that, and a flip side for the pool member. Sure, you are going to greatly increase your chances of getting a piece of a “strike,’ but you’re also going to wind up a piece that is proportionately much smaller than anyone who solves a block on their own.

But if you want to be a part of the excitement, without having to worry about it every day, a bitcoin mining pool is definitely something you should look into.

Written by Bitcoin Mining on November 23, 2012.