New Mining Pool - BTCMine, Alpha TestOffers shared block payout as well as pay per share payout.
Since our mining pool update a week ago, DeepBit has been responsible for around 50 Ghash/s and Bitcoin Pooled Mining (BPM) has been exceeding 100 Ghash/s.
The difficulty will be adjusting within hours from now. Current estimates show just about a 78K level, which is a 40% increase over the previous level. Even when graphed at log scale, these increases appear to hockey stick.
Increases at these levels are likely to end soon however. This is partly because mining income per hash shows that the economic incentive for mining has lessened and partly because the excess capacity in the recent jumps came from already-manufactured GPUs.
Eeven if there were the demand, the supply channel simply does not have in the pipeline enough hardware to meet the demand if the Bitcoin network were to continue growing at the current rate which follows an exponential path.
Written on 08 Mar 2011.