Earn money with your blog?

Is it possible to earn money with your blog? Yes! One way is through advertising, Google can help you there. Will you get rich? Probably not, I have earned 32,76kr (6$) on Google advertising so far...
I'll keep you updated on how that develops!

Edit 1:
13.September 2009: 32,76kr (6$)
18.September 2009: 32,76kr (6$)
According to bit.ly I have 20 clicks on the link to this post, I twittered it again on this Twitter account http://twitter.com/runetrek, to 45 followers.

Edit 2:
There's a large difference between how many has clicked the bit.ly link I use on Twitter and how many that has visited this blog according to the Feedjit panel to the right. I'm trying Google Analytics to get more information, looks promising!

Edit 3:
28. September 2009: 35,41kr (6$)

Edit 4:
1. October 2009: 35,41kr (6$)
I have 80 followers on Twitter, how many percent will click on links i tweet? And how many of them will click on advertising banners? What's my Click-through rate(CTR)?

According to Google Adsense CTR is 0,75%. That means if I get ALL followers from Twitter to click on my link, I will not get even one click on my banner for each time I Tweet link to the blog. So clearly 80 followers is not enough!

From Wikipedia: "Click-through rate or CTR is a way of measuring the success of an online advertising campaign. A CTR is obtained by dividing the number of users who clicked on an ad on a web page by the number of times the ad was delivered (impressions). For example, if a banner ad was delivered 100 times (impressions delivered) and one person clicked on it (clicks recorded), then the resulting CTR would be 1 percent."

http://en.wikipedia.org/wiki/Click-through_rate

Edit 5:
19. December 2010: 109,02kr (18$)