[ANN] The First Litecoin PPS Pool (litecoinpool.org)

[g2x3k]

ofc you can, you just hide some blocks to cheat users dont lie!
i doubt youre doing hehe, but could is another thing

How would hiding blocks cheat the miner?  Technically a PPS pool doesn't even need to keep public stats on blocks found.

to claim bad luck to justify the fees

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[pooler]

You are right.. normally there are large fee's. But abcpool is 0% fee pps

Yes, but that's just a temporary promotional offer. On their own site they say they will introduce a fee later on.
And even now I am quite sure they have a few generous miners who donate the default 4% or more, even if the don't have to.
Of course I could do something similar, but I don't think I will, because that doesn't seem fair to me.

Proportional pools (including PPLNS pools) don't worry too much about these problems, because they never give away more than they earn.

This is false and mainly why i wanted to reply to your post. http://lc.ozco.in pays out 60 ltc per block. and also http://pool-x.eu pays 5 LTC block bonus to the block finder. Elitist Jerks use to do 50 ltc block bonus to the block finder.. so saying that a pool will never give away more then they earn is false.

Again, those definitely look like promotional offers, which probably won't last forever (unless those guys want to lose real money, because server costs are real).
I believe in Litecoin. What I am trying to build is something fair and durable, not something to attract miners. I don't want to reach a day when I will have to say: "Sorry guys, the offer is over, now we get serious." What would late miners think?

[wknight]

pooler,

I understand where your coming from. I was just bringing up the facts at this point these facts you present are untrue. Pools are going to change fee's and give away for promotions all the time. The way your post was worded is for todays Litecoin pools.

Down the road Litecoin pools I am sure will change just like you changed your fee's.

Thats the only point I was trying to make.

I personally wish you all the luck in your pool.

Cheers

[pooler]

I understand where your coming from. I was just bringing up the facts at this point these facts you present are untrue. Pools are going to change fee's and give away for promotions all the time. The way your post was worded is for todays Litecoin pools.

I have nothing against other pools, and I'm sorry if I gave that impression. When I said "proportional pools" I was rather referring to the proportional system in itself, that's why I didn't think of additional promotions and the like.
That's also why I think BTC and LTC pools can and should be compared. What is being mined is not important when you are just comparing reward systems.

[pooler]

you shuld read up on pool hopping ... pplns with proper setup, cant rly be cheated, why wouldnt care for those other problems ?

I think you should re-read my post, I never said that PPLNS could be cheated by pool hoppers. What I said is that miners are subject to luck effects and that both the pool and its miners can potentially be cheated by block withholders.

[pooler]

New change in difficulty, 6.7% decrease!
I don't know if this is good (because shares are now worth a little more) or bad (because the Litecoin network is not growing).

By the way, for all lovers of statistics I have added two more estimates on our stats page: an estimate of what the next difficulty will be, based on the current network hash rate, and the time to the retarget. These two figures should get more and more accurate as the difficulty change approaches. Please report any unexpected behavior!

[rTech]

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Ill personally donate 50 LTC for first person to add 90KHASH

Note! Miner's has to keep miners atleast 5 days constantly over 90khash.
I'm no way related in to this pool but i love pure PPS system. So i wanted to
help promote it. Real deal no catch ;-) Ok Thanks 'n' bye... Have fun..

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Donated 50ltc to User2525

[Graet]

Yeah I know I'm a bad man paying 20% more.....

BUT when Ozcoin's LTC pool started we were the 2nd or 3rd Litecoin pool. The "Unknown" section of the of the graph at
http://litecoin.kicks-ass.org/graphs/graphs.html
was huge, there were concerns about 51% attacks etc in the #litecoin irc chanel - I decided to offer 20% more LTC to try to entice some of the "unknown" to "known".
(btw contact molecular and get added to the graph)

At todays (btc-e) price 10LTC =approx 0.15USD - that wont send me broke....
The LTC pool is running on a server I already had for my BTC pool - extra cost 0

So thanks for your concerns but really it costs next to nothing to run the LTC pool, the team at Ozcoin Pooled Mining Pty Ltd have over 5 months experience running a BTC pool. We also think Litecoin has a future - or we wouldnt be here

Good luck in your venture, hope the lucky run continues for you

[pooler]

Graet, I'm happy to read that you believe in Litecoin so much!
Unfortunately, despite your effort, "Unknown" miners have risen to 75%... let's hope those are not botnets!
I will contact molecular and ask him to add us to the graph, thank you for the suggestion!

[pooler]

Great news, folks! The pool will now be paying for genuine stale shares, too!

I've been working on this for a while, and I'm happy to announce that it's now official. Enjoy!

[terrytibbs]

Instead of linking to the generation transaction, you can poll my Block Explorer's API (http://explorer.liteco.in/q/txidtohash) with the txid of the generation transaction, it will spit out the block hash of the block in which that transaction originated, and you can link to it on your page like so: http://explorer.liteco.in/block/HASHASHASHASHASH

For example:
Generation transaction 86d34bfaf48f90a2638330f73c2bebebeea77fa6dc02fa14d669fe2a1999e5b9 ->
http://explorer.liteco.in/chain/Litecoin/q/txidtohash/86d34bfaf48f90a2638330f73c2bebebeea77fa6dc02fa14d669fe2a1999e5b9 =
37b505af72432111d8dc9ca637d28cf18b99bae9f00aee6ab7cc91d0a0428f45 ->
http://explorer.liteco.in/block/37b505af72432111d8dc9ca637d28cf18b99bae9f00aee6ab7cc91d0a0428f45

It results in a better experience when clicking the block links.

[pooler]

Instead of linking to the generation transaction, you can poll my Block Explorer's API (http://explorer.liteco.in/q/txidtohash) with the txid of the generation transaction, it will spit out the block hash of the block in which that transaction originated, and you can link to it on your page like so: http://explorer.liteco.in/block/HASHASHASHASHASH

For example:
Generation transaction 86d34bfaf48f90a2638330f73c2bebebeea77fa6dc02fa14d669fe2a1999e5b9 ->
http://explorer.liteco.in/chain/Litecoin/q/txidtohash/86d34bfaf48f90a2638330f73c2bebebeea77fa6dc02fa14d669fe2a1999e5b9 =
37b505af72432111d8dc9ca637d28cf18b99bae9f00aee6ab7cc91d0a0428f45 ->
http://explorer.liteco.in/block/37b505af72432111d8dc9ca637d28cf18b99bae9f00aee6ab7cc91d0a0428f45

It results in a better experience when clicking the block links.

Done!
I see that the liteco.in block explorer has been redesigned, nice job! I miss some of the info displayed by the other block explorer, though, such us the link to the next block(s)... do you plan to add them?

[terrytibbs]

I see that the liteco.in block explorer has been redesigned, nice job! I miss some of the info displayed by the other block explorer, though, such us the link to the next block(s)... do you plan to add them?

Thanks. I added a link to the next block(s). Let me know if there's anything else you're missing. I've trimmed down a lot, especially the UI-heavy stuff like table columns.

[pooler]

The site was down for about 30 minutes because of an attack attempt.
I have added some additional protection, and the issue should be resolved now... Sorry everybody for the downtime.

[pooler]

After upgrading to the latest version of litecoind, pool performance seems to be back to normal.

[terrytibbs]

Do you mind if I poll your API every five-or-so minutes?

[pooler]

Do you mind if I poll your API every five-or-so minutes?

No problem.

[pooler]

Another reason to choose PPS: you get paid even when blocks get out of the main chain.

There was one rather long (27 blocks) chain that became orphaned 7 hours ago, and two of those blocks were found by our pool.
Did this affect your earnings? Not at all! (It only affected the pool's wallet, d'oh! )

Here is the root of the orphaned chain:
http://blockexplorer.sytes.net/block/51eb5d3c807107c6e9dc5ba0074883b718d1a5fe48f245f8cef53eff74ee09dc

[DeathAndTaxes]

A 27 block orphaned chain?  Any idea why the network wouldn't re-org in 26 or less blocks?

[doublec]

A 27 block orphaned chain?  Any idea why the network wouldn't re-org in 26 or less blocks?

It'd be interesting to analyse the two chains and see if any transactions were changed.