Quote from: Netpyder on April 04, 2015, 05:24:10 AM

Quote from: GreenStox on April 04, 2015, 02:37:42 AM

Quote from: Bitcoin Buyer Reload on March 31, 2015, 09:21:41 AM

what are bitcoin pools??

Since the probability of you getting a bitcoin block is so tiny that with a little mining capacity it would take thousands of years to get one.

Instead you join a pool, the pool has alot of cumulative mining power, thus they will 100% get the blocks, if not the other pools get them.

And then they will distribute that block proportionally between the miners based on their mining capacity, so that everyone gets their fair share.

ah that i did not know. i thought it was just a first come first serve. its good for it to be distributed amongst the appropriate amount of capacity you are running on. makes it a fair game

Well its the equivalent of a work union in real life, people unionize and work more efficiently that way. While here its called a pool.