uncleflo
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If you're thinking buying mining hardware, read this first
Saved by uncleflo on May 8th, 2013.
If you've used one of the generic bitcoin profitability calculators, you've probably been surprised by the projected income from Bitcoin mining. The profitability numbers can be shockingly high for just buying a video card, putting it in your PC, and running a program 24/7. But all of the online calculators I've seen omit the biggest hurdle: Difficulty increases. The bitcoin network is designed to produce approximately 2016 blocks every two weeks. With high performance hardware becoming cheaper and more widespread and more users jumping on the mining bandwagon, the only way to keep the block production rate constant is to make it harder. Thus, every two weeks the difficulty adjusts to slow down or speed up production to match this 2016 blocks / 2 weeks target rate. This almost always goes up.
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