I have this doubt regarding bitcoin mining, assuming I have two miners of hashpower 500 H/s .
- Can I add up my hashpower and make it work like a single processor of 1000H/s OR
- Both both miners would be acting independently?
According to what I have read, option 1 is how it takes place.
- So this means a mining pool has combined power of all the associated miners and working on one block? OR
- All miner are working on different block of their own ??
According to what I have learnt, option 3 is how it takes place.
Now, referring to the attached chart by blockchain.info and assuming option 1 & 3 for the questions Only top 3-4 mining pools should be making profit. Relatively other miners have a very low probability with available hashpower to mine a block. And say for profit if all the miners decide to join big mining pools, eventually the network will become centralized.