Whip egg yolks in a large bowl until slightly fluffy and light in color, about 3 minutes. Very slowly whip hot browned butter into the egg yolks. I spooned in 1 tablespoon at a time and it took me about 5 minutes to incorporate it all. Squeeze the lemon juice in and stir with cayenne pepper, black pepper and warm water. Add more water until it's to the consistency you like. Use immediately, or place over a double boiler to keep warm up for 1 hour before serving.

Slice english muffins in half and toast. Butter lightly. Top with ham slices and 1 poached egg each. Drizzle with hollandaise sauce and sprinkle with chives. Serve immediately.