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Author Topic: [ANN] The First Litecoin PPS Pool (litecoinpool.org)  (Read 146846 times)
matt4054
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August 02, 2014, 05:04:35 PM
 #521

Perhaps there is room for only one crypto currency in the world?

Perhaps there is hardly any room even for a single crypto currency in the world today Sad

Hopefully things can change with a unified legal framework in the future.

Also, many technical shortcomings are still asking for a fix.

In hindsight: too much speculation, too little action.

★ ⏳ BitcoinQueue.com β ★ 📈 Real-time Bitcoin Unconfirmed Transaction Queue Charts ⏳ ★ Forum Topic
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August 17, 2014, 12:41:26 AM
 #522

Any plans to allow merge mining of Doge? Ive been a miner of this pool for a long time and am very happy with how things are run. I dont really care about Doge much but the extra income would be a plus!

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BretRensselaer
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August 18, 2014, 04:28:29 PM
 #523

Litecoin is sinking rapidly ... losing money on each coin mined... NOT making it up with volume.  What's happening?
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August 19, 2014, 11:09:42 PM
 #524

Litecoin is recovering today nicely.
I see though that most of the hash rate has disappeared from the pool.  That stinks.

Anyone know if it is just a visual bug or did we really lose that much?

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August 20, 2014, 03:55:21 PM
 #525

Since the beginning of 2014, Litecoin has declined from US$25 to less than US$5.

Mining revenue does not cover the fixed and variable costs of mining.

The pool hash rate has declined. The network hash rate is declining.

Large mining operators are mining and immediately dumping Litecoin for Bitcoin to cover costs which creates unrelenting downward price pressure on Litecoin.

Litecoin offers little differentiation compared to Bitcoin.

Is this an unstoppable death spiral?
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September 10, 2014, 11:30:54 AM
 #526

Any plans to allow merge mining of Doge? Ive been a miner of this pool for a long time and am very happy with how things are run. I dont really care about Doge much but the extra income would be a plus!
Working on it Smiley

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September 10, 2014, 11:33:15 AM
 #527

Introducing secure Stratum over TLS
https://www.litecoinpool.org/news?id=58

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ManeBjorn
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September 10, 2014, 04:57:29 PM
 #528

This is great news I look forward to it.
It should be interesting to see how it all works out for Doge in the end as well.

Any plans to allow merge mining of Doge? Ive been a miner of this pool for a long time and am very happy with how things are run. I dont really care about Doge much but the extra income would be a plus!
Working on it Smiley

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September 11, 2014, 02:02:47 PM
 #529

Any plans to allow merge mining of Doge? Ive been a miner of this pool for a long time and am very happy with how things are run. I dont really care about Doge much but the extra income would be a plus!
Working on it Smiley

Hello Pooler,

No pressure here but would you have an ETA for such implementation?

Cheers,
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September 11, 2014, 02:59:40 PM
 #530

Any plans to allow merge mining of Doge? Ive been a miner of this pool for a long time and am very happy with how things are run. I dont really care about Doge much but the extra income would be a plus!
Working on it Smiley

Hello Pooler,

No pressure here but would you have an ETA for such implementation?

The software is already in place. We should be ready to go shortly after the Dogecoin network starts accepting auxiliary proofs of work, i.e. in a few hours.
Payouts will still be made in litecoins only (this is litecoinpool.org after all Smiley), but the PPS ratio will be adjusted to take into account the expected rewards coming from merged mining. This will basically be the same as having a negative PPS "fee". Of course, after merged mining starts the PPS ratio may need to be adjusted frequently based on factors such as the DOGE/LTC exchange price and the difficulty of the Dogecoin network, which is expected to increase rapidly.
I am going to update the website to document this change, and will definitely post a news item when merged mining goes live.

BTC: 15MRTcUweNVJbhTyH5rq9aeSdyigFrskqE · LTC: LTCPooLqTK1SANSNeTR63GbGwabTKEkuS7
ThomasMuller
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September 11, 2014, 06:29:49 PM
 #531

Any plans to allow merge mining of Doge? Ive been a miner of this pool for a long time and am very happy with how things are run. I dont really care about Doge much but the extra income would be a plus!
Working on it Smiley

Hello Pooler,

No pressure here but would you have an ETA for such implementation?

The software is already in place. We should be ready to go shortly after the Dogecoin network starts accepting auxiliary proofs of work, i.e. in a few hours.
Payouts will still be made in litecoins only (this is litecoinpool.org after all Smiley), but the PPS ratio will be adjusted to take into account the expected rewards coming from merged mining. This will basically be the same as having a negative PPS "fee". Of course, after merged mining starts the PPS ratio may need to be adjusted frequently based on factors such as the DOGE/LTC exchange price and the difficulty of the Dogecoin network, which is expected to increase rapidly.
I am going to update the website to document this change, and will definitely post a news item when merged mining goes live.

That's exciting! I love the fact the payouts are still in litecoins! Simple accounting!  Wink

Great job!
ManeBjorn
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September 11, 2014, 06:53:39 PM
 #532

So cool.  Cool
I love the idea of still paying out in LTC and the bump in rewards will be great. Especially since Doge is rebounding a bit.
Thanks for the hard work.

Any plans to allow merge mining of Doge? Ive been a miner of this pool for a long time and am very happy with how things are run. I dont really care about Doge much but the extra income would be a plus!
Working on it Smiley

Hello Pooler,

No pressure here but would you have an ETA for such implementation?

The software is already in place. We should be ready to go shortly after the Dogecoin network starts accepting auxiliary proofs of work, i.e. in a few hours.
Payouts will still be made in litecoins only (this is litecoinpool.org after all Smiley), but the PPS ratio will be adjusted to take into account the expected rewards coming from merged mining. This will basically be the same as having a negative PPS "fee". Of course, after merged mining starts the PPS ratio may need to be adjusted frequently based on factors such as the DOGE/LTC exchange price and the difficulty of the Dogecoin network, which is expected to increase rapidly.
I am going to update the website to document this change, and will definitely post a news item when merged mining goes live.

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September 11, 2014, 11:37:26 PM
 #533

Merged mining has started and is proceeding smoothly. We have already found our first Dogecoin block!
The PPS ratio is currently 125%, meaning that miners earn 25% more than with a 0-fee PPS system. Enjoy the extra rewards! Smiley

BTC: 15MRTcUweNVJbhTyH5rq9aeSdyigFrskqE · LTC: LTCPooLqTK1SANSNeTR63GbGwabTKEkuS7
ManeBjorn
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September 11, 2014, 11:47:10 PM
 #534

Great deal thanks!!

Merged mining has started and is proceeding smoothly. We have already found our first Dogecoin block!
The PPS ratio is currently 125%, meaning that miners earn 25% more than with a 0-fee PPS system. Enjoy the extra rewards! Smiley

hotdk
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September 12, 2014, 03:04:16 AM
 #535

Merged mining has started and is proceeding smoothly. We have already found our first Dogecoin block!
The PPS ratio is currently 125%, meaning that miners earn 25% more than with a 0-fee PPS system. Enjoy the extra rewards! Smiley

Bravo! Could you give miners dogecoin directly?
pooler
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September 12, 2014, 03:12:35 AM
 #536

Bravo! Could you give miners dogecoin directly?
Unfortunately that would complicate our accounting considerably, so for the moment we are only going to offer Litecoin payouts.

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hotdk
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September 12, 2014, 06:35:05 AM
 #537

Bravo! Could you give miners dogecoin directly?
Unfortunately that would complicate our accounting considerably, so for the moment we are only going to offer Litecoin payouts.

Can't you just pay the dogecoin with LTC? Just as same percent of LTC.
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September 12, 2014, 10:24:07 AM
 #538

Can't you just pay the dogecoin with LTC? Just as same percent of LTC.
I'm not sure I understand what you mean there by "as same percent of LTC", sorry.

Let me point out that Litecoin and Dogecoin still retain independent network difficulties and market prices, and therefore independent mining profitability. In particular, after the introduction of merged mining the difficulty of the Dogecoin network has started rising rapidly, and this has caused the profitability of Dogecoin to sink from about 100% of Litecoin to the ~18% where it is at the time of this writing. I expect this figure to continue to decline as more pools start doing merged mining.

BTC: 15MRTcUweNVJbhTyH5rq9aeSdyigFrskqE · LTC: LTCPooLqTK1SANSNeTR63GbGwabTKEkuS7
ThomasMuller
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September 12, 2014, 11:25:55 AM
 #539

Can't you just pay the dogecoin with LTC? Just as same percent of LTC.
I'm not sure I understand what you mean there by "as same percent of LTC", sorry.

Let me point out that Litecoin and Dogecoin still retain independent network difficulties and market prices, and therefore independent mining profitability. In particular, after the introduction of merged mining the difficulty of the Dogecoin network has started rising rapidly, and this has caused the profitability of Dogecoin to sink from about 100% of Litecoin to the ~18% where it is at the time of this writing. I expect this figure to continue to decline as more pools start doing merged mining.

So pretty much AuxPow is killing Doge faster than anticipated. Also, there was a big change of the PPS reward from 125 down to 115 why was that? What determines the reward percentage now?
pooler
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September 12, 2014, 11:46:38 AM
 #540

So pretty much AuxPow is killing Doge faster than anticipated.
It is not killing it. On the contrary, it's bringing more security to its network. The fact that the mining profitability of Dogecoin alone is much lower compared to when Doge was not merged-mined is perfectly normal and expected, and causes no harm whatsoever.

Also, there was a big change of the PPS reward from 125 down to 115 why was that? What determines the reward percentage now?
As I've said before, the difficulty of the Dogecoin network is rapidly increasing, as expected.

[...] the PPS ratio will be adjusted to take into account the expected rewards coming from merged mining. [...] Of course, after merged mining starts the PPS ratio may need to be adjusted frequently based on factors such as the DOGE/LTC exchange price and the difficulty of the Dogecoin network, which is expected to increase rapidly.

BTC: 15MRTcUweNVJbhTyH5rq9aeSdyigFrskqE · LTC: LTCPooLqTK1SANSNeTR63GbGwabTKEkuS7
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