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

[AmDD]

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!

[BretRensselaer]

Litecoin is sinking rapidly ... losing money on each coin mined... NOT making it up with volume.  What's happening?

[ManeBjorn]

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?

[BretRensselaer]

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?

[pooler]

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

[pooler]

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

[ManeBjorn]

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

[ThomasMuller]

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

Hello Pooler,

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

Cheers,

[pooler]

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

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 ), 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.

[ThomasMuller]

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

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 ), 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! 

Great job!

[ManeBjorn]

So 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

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 ), 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.

[pooler]

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!

[ManeBjorn]

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!

[hotdk]

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!

Bravo! Could you give miners dogecoin directly?

[pooler]

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.

[hotdk]

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.

[pooler]

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.

[ThomasMuller]

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]

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.

[ThomasMuller]

Pooler, Great job things are running smooth!