Quote from: litecoin_messiah on July 23, 2013, 10:20:15 PM

Quote from: M0nsieurChat on July 23, 2013, 10:13:56 PM

We are about to fully switch everyone to PPS, with a pool fee of 4%.

When ? Tomorrow, the 24th July.

What will happen to the current shelved earnings ? They will be cleared the same way as CPPSRB used to clear the shelved earnings. That means, when we will switch to PPS, you'll continue being paid during bad rounds and your shelved earnings will be backpaid during lucky rounds.
Once the full shelved stack will be cleared, there will be no more shelved earnings. No more.

Will you earn less coin with PPS ? Over a long time with a null variance, yes you'll end up with less coins. Does this mean PPS is shit ? I don't think so. We learnt from our mistakes and CPPSRB isn't for sure an easily understandable reward system. People are used and know well the variance of PPLNS and it's OK. People like the nullvariance of PPS and it's OK. People just don't get the variance involved in CPPSRB as well as PPLNS. That's life.

How will we handle the payouts during the launch of PPS ? That's hard to say, but it's reality : we will use the oldest unwithdrawn funds from our miners. Currently, Hypernova holds about 3300 LTC that fully belong to its miners. We've always been honest at keeping your funds safe and we will continue to do so. That's why we've put since the pool launch a "pool reserve funds" gauge on the account page that is fully working.
A pool like Hypernova needs at least ~1000 || 1500 LTC to fight against the variance of probabilities.
A 4% fee @ 900MH/s should give back to the pool 1400 LTC monthly. So, our unwithdrawn funds will be used for only one month.
Don't worry about payouts. Maybe it's not being said enough but : NEVER KEEP YOUR MONEY FOR A LONG TIME ON A POOL ! A POOL IS NOT A BANK ACCOUNT. WITHDRAWN AS SOON AS POSSIBLE !
This advice is not applied by everyone. Indeed, we see Hypernova's wallet growing from days to days. And it's not related to new miners getting on the pool everyday. Mathematically, we have a good ~10% of our funds that never were withdrawn and it looks like that they'll never be. This is these funds we'll be using to launch the PPS.
That is to say ; I'm sure you all will be able to continue your withdraws. Just be warned you'll start to see the pool reserve gauge going down during the first month.

Thanks for your support, we're always open to debates.

Soak and M0nsieurChat

4% fee? lol. M0nsieurChat Sorry but this is too high, there are pools which offer 3%

This is not a definitive fee. We always played and ensured safety. PPS is a risky reward system for pools. We want to start safely then reduce the fee if needed / possible.

M0nsieurChat

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