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[CLOSED] – Elitist Jerks Litecoin Pool – [CLOSED]

Updated on Elitist Jerks Litecoin pool.

DDOS has ended late yesterday. So I was able to access the server with no problems.

Here is the deal. The wallet has a balance of 0.2 litecoins. Here is the reason why.

27 days ago We had an issue with our software which payed out too much Litecoins to two accounts.

http://www.reddit.com/r/litecoin/comments/1skc70/a_good_ending_as_well_as_a_cautionary_tale/

One person sent 75 LTC back to the Pool. The other 75 LTC was never sent back. This put the pool in a negative balance.

Before this we where hacked. on Oct 25th in which the pool lost 225 LTC. I covered this out of my own pocket to pay its members.

https://litecointalk.org/index.php?topic=4211.msg50790#msg50790

And before all of this we where a PPS pool in which had a huge run of bad luck in which just over 1000 LTC was paid out on blocks never found.

I have tried to cover everything up to this point and have lost way to much money to problems with this pool. After the last two blocks where found payouts where sent in the auto payout que and we don’t have enough to cover everyone payouts.

I can no longer invest money into something that will never get it back. Why would anyone keep putting money into something that has had too many problems.

Yes is it my fault.. sure it is.. Software isn’t perfect. People will exploit it. I did my best to try to keep a honest pool running and even cover some mistakes but the time has come I can no longer do this.

I have been a member of the Bitcoin/Litecoin community for many years. And to go out like this really sucks. But at some point enough is enough.

I saw someone post in the IRC over last night this. “or someone ran off, with the money and skipped town :-P”

That just pissed me off to no end. Knowing how much money I put into this pool to keep it running.

Pools get hacked and there is software issues that have plagued many.

Yes pools continue to run. Either by people donating money to pay for the loss or pools try to absorb the loss in a way. But it will never be 100%

To sum things up ejpool.info is closed for good. With the loss of Litecoins over the past few months it wouldn’t be in anyones best interest to continue to run the pool.

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