Post
Topic
Board Bitcoin Discussion
Re: Are Mining Pools the downfall of the Bitcoin
by
odolvlobo
on 21/11/2014, 16:41:27 UTC
Whatever your hashrate, you will only earn money when your pool finds a block. So when all the pools that you are not with are finding blocks, your own pool is eating up electricity for nothing. I noticed in some pools that it took a massive 6 hours to find a block.

Have I got this wildly wrong or should all pools integrate into one big one?

Integrating all the pools into one won't change anything because eliminating a pool does not reduce power usage. it is the miner, not the pool, that is using all the electricity.

Anyway one pool doing all the mining is bad for Bitcoin.