Peel the potatoes and grate them coarsely, preferably into tiny slivers, into a large mixing bowl.

Do not drain off the potato water that will accumulate in the bowl.

Working quickly to prevent the potatoes from turning brown, mix in the chopped chives, salt, and a few grindings of pepper.

Heat the butter and oil in a 10-12" skillet over high heat until foam subsides. (The pan must be very hot, but not smoking.)

Using 2 tablespoons of potato mixture for each pancake, fry 3 or 4 at a time, flattening them out with a spatula to about 3 inches in diameter.

Fry each batch of pancakes over medium-high heat for 2 or 3 minutes on each side, or until they are crisp and golden. Serve at once.