"Refund400k" - Not 'Refunding' but rather burning/destroying 400k BTS/day?! Disproven! It is refunding the reserve pool.

Hey,

A worker proposal was brought to my attention by @ppitonak within my recent "BSIP 22 - Introducing expiring votes for witnesses, committie members & proxies within the Bitshares network" Steemit thread.

@ppitonak proposed that worker proposals should be included in the vote decay mechanism (BSIP proposed that the worker proposals were out of scope), that worker proposals can last long periods of time, thus the same issues which warrant decaying vote weight for witness/committee/proxy votes are present (dead users & lost keys being permanent votes for support, etc). I fully agree now that votes applied to worker proposals should have vote weight decay applied after the committee set 'max_vote_age' is passed.

So, onto the primary reason I'm writing this post - whilst looking into the list of active workers (researching @ppitonak's stance), the active worker proposal "refund400k" (which has a length of 20 years) drew my attention & concern.

The title is "refund400k" which to me sounds like a previous worker returning over-allocated funds to the reserve pool, however it may actually burning/destroying these bitshares (entirely irrecoverable) at the rate of 400,000 BTS per day (with 131,564,159 BTS already destroyed by this point).

If this is the case, the worker proposal has an expiry date in the year 2035 .. it effectively proposes to destroy 2,628,000,000 BTS which is more than all BTS in circulation (An attack?). This is a massively deflationary proposal which I'm interested in researching further, especially since it effectively means my BTS are growing in terms of % of total available funds.

There is no supplied link within the worker proposal (unlike the other worker proposals), the only information I could find is a thread on Bitsharestalk titled "Questions about the refund400k worker proposal" in which users including bytemaster (@dan) state that the worker proposal 'refund400k' (with id 1.14.0) may have been created in error & propose new burn/refund worker proposals which consist of 4 100k refund & 4 100k burn worker proposals.

These 8 small worker proposals which Xeroc created have expired (2016-12-31), however we're still left with the "refund400k" worker proposal which still has the same id of '1.14.0', which is burning the BTS instead of really refunding the BTS to the reserve pool.

Abit posted the following information that the above command replied back in late 2015:

>>> get_object 1.14.0
get_object 1.14.0
[{
    "id": "1.14.0",
    "worker_account": "1.2.90742",
    "work_begin_date": "2015-10-20T17:30:00",
    "work_end_date": "2035-12-31T00:00:00",
    "daily_pay": "40000000000",
    "worker": [
      0,{
        "total_burned": "1742631985322"
      }
    ],
    "vote_for": "2:65",
    "vote_against": "2:66",
    "total_votes_for": "21716971826670",
    "total_votes_against": "7192913280182",
    "name": "refund400k",
    "url": ""
  }

EDIT:

Ok, so I've fired up the CLI wallet and run the command:

unlocked >>> get_object 1.14.0
get_object 1.14.0
[{
    "id": "1.14.0",
    "worker_account": "1.2.90742",
    "work_begin_date": "2015-10-20T17:30:00",
    "work_end_date": "2035-12-31T00:00:00",
    "daily_pay": "40000000000",
    "worker": [
      0,{
        "total_burned": "13172141776315"
      }
    ],
    "vote_for": "2:65",
    "vote_against": "2:66",
    "total_votes_for": "51132234796648",
    "total_votes_against": 0,
    "name": "refund400k",
    "url": ""
  }
]

Turns out it IS refunding to the reserve pool, not burning the coins! Good to hear!

Additional thread pointing out that 'worker 0 == refund' https://bitsharestalk.org/index.php/topic,20793.0.html

Thanks,
@cm-steem