First, make the anchovy sauce. In a blender, combine the eggs, salt, pepper and lemon juice. Pulse the mixture until combined, about 20 seconds. With the blender running, slowly add the olive oil until the mixture takes on the consistency of runny mayonnaise. With the blender running and the anchovies until they are thoroughly combined into the sauce. Keep the sauce covered and refrigerated until ready to use. Serve the sauce at room temperature.

For the buttered croutons, heat the oven to 375°. Using a 2" round cookie cutter, cut the slices of bread into four rounds. Butter each bread round and place on a rack over a cookie sheet. Bake the croutons in the oven until golden, about 20 minutes. Serve while warm.

Heat a skillet over medium heat. Add the chopped smoked bacon and cook until it is golden brown and crisp. Drain the bacon on paper towels.

In a 6-quart saucepan, heat the water and vinegar to a gentle boil. Crack the eggs one at a time into a small bowl. Using the handle of a slotted spoon, stir the water in a circular motion to create a "whirlpool" effect. Gently pour in the egg and poach, gently stirring, until the yolk is just set, about 1 minute.

Remove the egg from the water and drain on a kitchen towel.

Immediately place the warm poached egg on top of one of the buttered croutons. Spoon some of the anchovy sauce on top of the egg. Garnish with some of the smoked bacon and chopped chives.