[CLOSED] - Elitist Jerks Litecoin Pool - [CLOSED]

[wknight]

AWESOME! PPS, thanks ops

Cheers.. welcome to the Pool!

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[wknight]

Added some new stuff features to the mobile half. Have a look

[wknight]

Huge changes guys and wanted to post it up as it might effect just a few people still using getwork.

Getwork has some flaws where people love to spam LP causing all system resources to be used. Last night someone decided to do such a task which made work very slow or unresponsive. Port 9332 was then closed and all issues where resolved.

Where does this leave getwork. Well its time to upgrade your miners, or if this is not possible, setup your own getwork proxy.

cgminer already has stratum support and works very well. there is no reason not to use stratum.

Make sure your mining URL is stratum+tcp://pool.ejpool.info:9333 . Yes cgminer does have auto detecting of stratum but its good practice to use the correct protocol.

Need help for getwork proxy?

If you have more than one miner (especially CPU miners) running within a local network, it is best to use the Stratum proxy for Litecoin mining. This proxy allows you to achieve a lower rate of stale shares while reducing your bandwidth usage. The Python source is available here, and a binary for Windows here. You start the proxy on one of your machines as follows:

mining_proxy -nm -pa scrypt -o us.litecoinpool.org -p 9333

Then you connect your miners to that machine on port 8332 with the usual pool worker username and password.

Need to update your cpuminer?

Thanks to Pooler on taking the time to upgrade cpuminer to use stratum. This can be downloaded at the following location.

http://sourceforge.net/projects/cpuminer/files/

To sum things up port 9332 is now port forwarded to 9333. This way for anyone running stratum they will be able to connect with no problems and you may have only noticed a brief outage.

Elitist Jerks is running the latest code for all pooled mining. Getwork is out dated protocol and anyone still mining with it needs to upgrade.

If you have any issues upgrading or using stratum please let me know

[wknight]

Updated to the latest Mobile features. Enjoy the new dashboard

[wknight]

Lots of new miners on the Pool. Welcome to everyone.

[autodidactic]

Decided to check out the pool. Pretty cool. My only complaint is of course the 3% fee is rather steep.

[wknight]

Decided to check out the pool. Pretty cool. My only complaint is of course the 3% fee is rather steep.

Well welcome to the pool and thanks for giving it a try.

For a little perspective on why our fee's are at 3%

First here is an example on other PPS pools:

Litecoinpool.org = 4% fee's (started at 5%)
Ltcmine.ru = 3.3% fee (started at 2%) recent change

These two pools have been around for at least a year. Litecoinpool being the longest.

They both adjusted their fee's due to risk, orphans, etc. Basically they adjusted their pool fee's to match cost.

PPS is Pay Per Share. The pool takes all the risk. Long rounds, orphans, etc. You get paid for each share you submit no matter what. The value of each share is the same across the difficulty length.

Now quickly compare to a PPLNS pool that is 2% fee. This fee goes straight to the pool owner. Your share value will change throughout the difficulty period. Long rounds will make your share value a lot less then what your making on a PPS pool. Course short rounds will be increased in value. But this is what we call variance. PPS takes all the variance risk and you get paid one given price.

If you look at Bitcoin PPS pools which is the most favored btw. The lowest PPS pool is 3%. BTCGuild just raised theirs to 7% was at 5%. Ozcoin got rid of it. mtred at 0% closed its doors because variance drained their buffer. EclipseMC is 5%. This is why fee's for PPS makes sense and why we are at 3%

Hope this makes a little bit more sense. I have done a couple weeks at 0% fee's. Basically given back to the miners some of the good luck the pool has had.

If you have a chance take a look at this post. https://bitcointalk.org/index.php?topic=104664.0 It gives you risk/reward and why people use it. Bitcoin Pool fee's. Etc.

Here is about how each payout works

https://bitcointalk.org/index.php?topic=104664.msg1146110#msg1146110

[autodidactic]

Decided to check out the pool. Pretty cool. My only complaint is of course the 3% fee is rather steep.

Well welcome to the pool and thanks for giving it a try.

For a little perspective on why our fee's are at 3%

First here is an example on other PPS pools:

Litecoinpool.org = 4% fee's (started at 5%)
Ltcmine.ru = 3.3% fee (started at 2%) recent change

These two pools have been around for at least a year. Litecoinpool being the longest.

They both adjusted their fee's due to risk, orphans, etc. Basically they adjusted their pool fee's to match cost.

PPS is Pay Per Share. The pool takes all the risk. Long rounds, orphans, etc. You get paid for each share you submit no matter what. The value of each share is the same across the difficulty length.

Now quickly compare to a PPLNS pool that is 2% fee. This fee goes straight to the pool owner. Your share value will change throughout the difficulty period. Long rounds will make your share value a lot less then what your making on a PPS pool. Course short rounds will be increased in value. But this is what we call variance. PPS takes all the variance risk and you get paid one given price.

If you look at Bitcoin PPS pools which is the most favored btw. The lowest PPS pool is 3%. BTCGuild just raised theirs to 7% was at 5%. Ozcoin got rid of it. mtred at 0% closed its doors because variance drained their buffer. EclipseMC is 5%. This is why fee's for PPS makes sense and why we are at 3%

Hope this makes a little bit more sense. I have done a couple weeks at 0% fee's. Basically given back to the miners some of the good luck the pool has had.

If you have a chance take a look at this post. https://bitcointalk.org/index.php?topic=104664.0 It gives you risk/reward and why people use it. Bitcoin Pool fee's. Etc.

Here is about how each payout works

https://bitcointalk.org/index.php?topic=104664.msg1146110#msg1146110

You're missing the part where I'm an elitist jerk, and don't care about the pool owner.

joking :p actually thanks for the post very informative.

[wknight]

You're missing the part where I'm an elitist jerk, and don't care about the pool owner.

joking :p actually thanks for the post very informative.

Hahaha.. your going to fit right in hahaha!!!

[wknight]

Lots of new miners have come over due to recent events of a pool that had funds stolen from them. A few things to make sure I am up front about funds.

Hot wallet and cold storage.

Our hot wallet is monitored constantly. I make sure their is enough funds to cover withdraws. However, I also protect against accidents and/or hacks. I also cover account founds like an insurance policy. I have enough reserves as I am one of the original adapters of Litecoin.

I transfer funds in and out to make sure we run lean however we can cover withdraws as they are needed (auto and such).

My suggestion is to have Auto payout setup. Set it to 5 ltc and let the system pay you out over time.

I will not leave thousands of Litecoins in our Hot wallet. This has way to much risk. So rest easy that you will be paid.

[wknight]

Pool is now set for mining difficulty of 64. This will reduce load on the server and relax your bandwidth

[wknight]

Lots of new miners. Almost to the 200 MH/s goal. Welcome to many of you.

Just a few things to do when you login.

Set your Litecoin address.
Set your auto pay. This way your coins are sent directly to you and not sitting on the pool.

Many hashers between 1,000 mh/s to 5,000 mh/s set auto pay to 5 LTC
5,000-10,000 set auto pay to 10 LTC
10,000-20,000+ set auto pay to 20 LTC

This way you done get a ton of payments but also dont leave a bunch of LTC on the pool. Remember this is your money.

I always have the full amount to cover all withdraws. I have scripts that continue to monitor the Hot Wallet. Get paid when you want it.

[wknight]

Updated our about page with full API information.

[wknight]

Doing a little bit of clean up. The pool will seem a little slow for the next few hours. Mining is still working with no problems. Basically we are in maintenance at this time. Its mostly cleaning up old share data we no longer use

[bengx]

Doing a little bit of clean up. The pool will seem a little slow for the next few hours. Mining is still working with no problems. Basically we are in maintenance at this time. Its mostly cleaning up old share data we no longer use

Actually I've noticed that the site is much much much faster than before, even with this slow down of yours. Kudos on that! The mobile site is also what's keeping me from moving over to another pool even though the other pool has a lower fee. Great job all around! 

[wknight]

maintenance is complete. Scripts are back running. Everything is normal

[wknight]

Doing a little bit of clean up. The pool will seem a little slow for the next few hours. Mining is still working with no problems. Basically we are in maintenance at this time. Its mostly cleaning up old share data we no longer use

Actually I've noticed that the site is much much much faster than before, even with this slow down of yours. Kudos on that! The mobile site is also what's keeping me from moving over to another pool even though the other pool has a lower fee. Great job all around! 

Thanks for the great feedback. The mobile addition has been a great addition to the pool I agree. I use it all the time.

Thanks for being part of the pool

[wknight]

Happy 4th of July everyone in the states. Hope your enjoying your day off.

[wknight]

Working on getting the bot back up in the IRC channel. I need to make a few changes in the code so people dont bother it

Yes its a hand built python bot and also NO access to the database. It only reads API's

[wknight]

Every once in a while I take a minute to see all the new people joining the pool. Lots of new names.

Welcome to many new miners. I am assuming something happened for you to leave the current pool your at and or are new to litecoin mining.

We have taken a lot of pride in running a up to day server. Up time date software and continue to work with the developer of MMCFE-NG.

Security features are always a top priority. Namely getting you paid in case something happens. This pool is fully backed by my own personal wallet. I have scripts in place to give me full balance details. We always have enough to cover withdraws. When you mine on Elitist Jerks, you will be paid.

New members, it is very simple getting started on our pool.

1.) Register with us. Make sure sure you use a valid email as its critical for password resets.

2).Login to our server with your username and password

3).Once logged in. Hover over my account and select my workers.

4). Create a worker. For instance WKNiGHT.1 and any password. Passwords can be open. It doesnt matter. This is not your account password. I just use 1234 or x.

Thats all you need to do on the pool side to start mining

Use your miner software to connect. minerd -o stratum+tcp://pool.ejpool.info:9333 -u WKNiGHT.1 -p x

its simple as that getting started with us.

Please if you have any questions just post here. I will be more then happy to help you get started