NineZeroNine: Bitcoin, by JustinOn the Nine Zero Nine gamer blog Justin describes his foray into mining. He learns about variance (“some days I would go without mining a single BTC and others I would get 3”) and ups the ante (“I impulse bought two more 5830s just yesterday”).
Hopefully he won’t be too disappointed after learning that the primary variable affecting mining – future difficulty levels, will jump fifty percent or more with the next adjustment period.
Increases at these levels (in percentage terms) have occurred previously however mining capacity still hasn’t grown as fast as the exchange rate has even after multiple 50% increases.
As a result, miners will likely continue following Jason’s example and will add capacity – though supplies of the GPUs that perform better at mining are thin.
Written on 23 May 2011.