I might be wrong about this but declining payouts does not burn steem. It only puts it back in the reward pool and others will earn it pro-rata to the amount they have been upvoted with.
If this was burning, it would be amazing.
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No you are right. I used the term too loosely last night. What actually happens on a declined payout is the funds are sent back to the reward pool. If you want a real burn you need to add @null as a beneficiary and those funds are sent to a null account and burned.