Mining just got a LOT less profitable.
1 GH/s used to bring in 1.146 BTC per day. Now it brings 0.656 BTC/day.
BTC are currently trading for $15.50.
So a guy with a 1GH/s rig went from making $17.76/day to making $10.16/day.
Both figures are gross profit, not net profit (after electricity taken out). I used Deepbit's estimator for these income figures; for proportional pools, multiply figures by 1.07. For proportional pools with 0% fee, multiply by 1.10.
Daily income for 5830's is now 0.167 BTC, or $2.60.
5 more 30-50% increases by the end of August and that 1GH rig is only making 0.08 BTC/day.
We will likely see a 7.0M difficulty by the end of August.
New miners, before dropping tons of money, please calculate carefully that difficulties only last 9-10 days, not months.
Without a 10-fold increase in BTC value, the 10-fold increase in difficulty will kick me right out~