Author Topic: escrow - to burn or not to burn  (Read 2546 times)

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Offline oxarbitrage


Offline paliboy

burn back to the chain everything remaining and start fresh with the new worker

Offline oxarbitrage

IMO the excess BTS must be burned. The worker had a clearly defined scope and a clearly defined price. Both have been fulfilled, so using the extra BTS for other purposes would be a breach of contract, in a way.

This holds for all workers, not just yours specifically, of course.

thanks @pc . yea, it is probably be the best. the idea to keep it was mostly to cover some downside the BTS can have and the low BTS per day the new worker is claiming at current rates, trying to avoid the creation of a new worker proposal in the middle of the contract.
in a renew scenario like this one that can apply to the UI worker, abit worker, etc.

anyways. probably not a good idea, we should just burn the extra bts after the contract ends(i think need to wait a few days to all the funds became available). whatever we do will be discussed here and never be done in silent.

Offline pc

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IMO the excess BTS must be burned. The worker had a clearly defined scope and a clearly defined price. Both have been fulfilled, so using the extra BTS for other purposes would be a breach of contract, in a way.

This holds for all workers, not just yours specifically, of course.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline oxarbitrage

Current worker alfredo garcia is ending in 4 days and i already submitted a new one(https://bitsharestalk.org/index.php/board,75.0.html). There were hard times where bitshares price was so low that the worker was very tight on getting the bitusd needed to pay for the worker but it was always possible to do the payment.

With the recent increase of price of bts the current worker haves enough to liquidate the last payment and burn the rest. In conversation with the escrow group i was proposing that maybe keep that bts as a backup as with the current prices the new worker will be only claiming 715 bts per day with the 2.5 multiplier to cover fluctuations.

As i trust bitshares to keep growing i didn't wanted to change the 2.5 but we had mixed feelings in regards to keep what the current worker is making as a backup or if just burn it back now. All assuming the new worker gets voted in, this thread is open to discuss if:

- keep the extra bts after liquidation of the current worker as backup(even possible to buy bitusd now and lock the payment of 3 months).
or
- burn back to the chain everything remaining and start fresh with the new worker. If price goes against us, a new worker proposal will be submitted to cover the difference.

thanks.