Quote from: Catharsis on July 08, 2011, 11:31:34 AM

Christ, difficulty already at 156 while the price stays the same

Is the system designed to go up in difficulty along with price or with the amount of mining going on?
Because if the amount of miners is what changes difficulty it doesn't seem logical that so many new people get into mining with the difficulty spiraling upwards as it is.
I'd imagine mining right now for any individual is a net-loss, all things considered.

No, difficulty can drop. Miners strive for an average of 6 blocks solved per hour.

EDIT: reading your post more carefully: the system is designed to go up in difficulty with the amount of mining going on.