"the amount of mining activity keeps increasing"
Which does not change the amount of coins available, at most it slightly increases the speed at which they become available. As aigeezer said, the "crisis of the moment" is nothing. The "degree of difficulty" has been increasing forever, just varying in the amount (with only a few times where it actually dropped slightly).
This is just a WSJ Blog, so pretty meaningless IMO.
Topic: [2014-08-27] For Bitcoin’s Miners and Spenders, a Supply and Demand Imbalance (Read 1063 times)
August 27, 2014, 10:14:15 AM
August 27, 2014, 08:48:41 AM
tl;dr - "the built-in adjusting mechanism" - don't worry about the WSJ's manufactured crisis of the moment. The sky is not falling after all. Maybe next time though.
August 27, 2014, 01:56:13 AM
http://blogs.wsj.com/moneybeat/2014/08/26/bitbeat-for-bitcoins-miners-and-spenders-a-supply-and-demand-imbalance/
The number of transactions have been stable this year, in a range between 60,000 and 80,000 a day, according to data from Blockchain. That’s a huge jump from under 10,000 a day two summers ago. The problem is the number of transactions has plateaued at those levels, but the amount of mining activity keeps increasing. The degree of difficulty in mining – the built-in adjusting mechanism that makes solving the bitcoin algorithm harder as more miners come onboard – has jumped twice recently, and the hashrate, a measure of total mining activity, has been rising as well.
The number of transactions have been stable this year, in a range between 60,000 and 80,000 a day, according to data from Blockchain. That’s a huge jump from under 10,000 a day two summers ago. The problem is the number of transactions has plateaued at those levels, but the amount of mining activity keeps increasing. The degree of difficulty in mining – the built-in adjusting mechanism that makes solving the bitcoin algorithm harder as more miners come onboard – has jumped twice recently, and the hashrate, a measure of total mining activity, has been rising as well.
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