New PPS Mining Pool, 2% Fee, No registration, No password

[seongyupyoo]

http://ppsminingpool.com

Pay per share
2% fee
No registration
No password
Just use your payout address as your username
Auto-pay every 2 hours
2 ltc minimum
No payout fee

For litecoin only for now. Bitcoin coming as soon as I can get enough buffer bitcoins.

I'm the pool operator. Let me know if you have any questions or comments.

[empoweoqwj]

where are you based?

[seongyupyoo]

where are you based?

rochester, ny

[empoweoqwj]

where are you based?

rochester, ny

ok thanks, what happens if you forget the payout address you registered with? How can you prove who you are?

[seongyupyoo]

where are you based?

rochester, ny

ok thanks, what happens if you forget the payout address you registered with? How can you prove who you are?

Even if you forget the address, you will still get paid to that address.

[empoweoqwj]

where are you based?

rochester, ny

ok thanks, what happens if you forget the payout address you registered with? How can you prove who you are?

Even if you forget the address, you will still get paid to that address.

OK, gotcha - makes sense

[Markov]

Eligius for ltc? Sounds good.

[seongyupyoo]

Eligius for ltc? Sounds good.

Yup, in pure PPS form.

[seongyupyoo]

Just updated a lot of UI including stats.

Lowered minimum payout to 1 ltc from 2 ltc.

Shorted the auto-pay time from to every 1 hour from 2 hours.

Happy mining!

http://PPSMiningPool.com

[seongyupyoo]

Just lowered minimum payout amount to 0.5 ltc!

[seongyupyoo]

Just release our stats API.

We're now at about 25,000 kHs, have paid out over 50 ltc to about 40 active miners. Come join our pool!

[bumpusee]

0.5 ltc mininum your coins are held hostage

[seongyupyoo]

0.5 ltc mininum your coins are held hostage

Yup. Until you mine over 0.5 ltc, and you are paid in full next hour. Hostage released.

[seongyupyoo]

Thank you for mining at our pool. We have stopped operating. No, we're not bankrupt. We decided to switch our reward system from PPS to something else. We have reassessed the risks associated with running a PPS reward system in regards to Withholding Attacks, and have decided we cannot manage such risk while providing a quality service at a low fee. We're working on launching a new pool with a different reward system where Witholding Attacks cannot damage the pool operator in such a direct way. For your reference, a Withholding Attack is where a malicious miner does not give the block solution when the miner finds it to prevent the pool from getting the reward, while getting paid for shares the miner submits. This kind of attach is easy to do, and it seems pool operators do it to each other to put each other out of business, or to draw miners to their own pool. We started in January 8th, and we've been lucky to have made more than we paid out throughout this learning process. We will come back in the near future with an improved version of our pool. We plan to make one for Dogecoin as well. All earnings will be paid out next hour to all those who have earned at least 0.01 ltc. Thank you for mining with us, and we hope to see you on our next pool.