As someone who is both a developer building on ethereum, and a large scale miner of Ethereum I can’t help but be shocked as to the seriousness of this proposal.
Ethereum as a platform is massively behind schedule. There have been delays left right and centre. Some delays are just due to unforeseen technical issues, and then we also have delays like the previous hard fork being delayed due to a security issue that was barely noticed before it was too late. I don’t think the core Ethereum developers have shown that they deserve a development fund. Maybe if we weren’t so behind schedule it would be deserved. But it isn’t, a developer fund could be considered similar to a bonus you get in the corporate world. Bonuses are only given to employees who Excel at their jobs and go above and beyond the call of duty. With the massive amount of delays, I absolutely do not think a bonus is deserved.
Now speaking as a miner (a large scale miner with a facility worth multiple millions of dollars) I’m getting shafted by this EIP. First you reduce my block rewards down to 3ETH from 5. Okay fine whatever I wasn’t too upset and I can manage. But now you want to take from my rewards even more, and distribute them to a group of people who are dropping the ball on their one job which is timely development of the ethereum ecosystem? What an absolute joke.
It’s miners people like me and others that have an extremely high amount of skin in the game that are responsible for producing blocks. Where does this end? Does the ethereum community not give a shit about the people responsible for providing the hash power that secures the network?
If this is really about developers needing funding to work on ethereum, maybe y’all shouldn’t have been giving grants worth 400k to companies that did ICOs and raised MILLIONS of dollars (status for example).