I honestly expected this. And it’s a fair reaction, one that I respect. Having said that, I believe it doesn’t matter how many people oppose the community grant program. At the moment, some of their arguments resonate with me as well.
We’re discussing real threats and have come to the conclusion that they’re right in saying that, at this moment, ZCG doesn’t need that much funding. That’s exactly why we’re proposing to reallocate the community’s resources for future periods. And, as we all know, no one knows what the future holds. I do not believe that we are showing weakness by doing this. We are proposing an option that we hope will be a compromise for the majority of community members.
And here’s what I’m also convinced of: the NSM adds a time-based supply to Zcash so that it can gain widespread adoption as a means of payment in a volume sufficient to make mining profitable for many epochs, not just in the foreseeable future (paragraph 6 of Satoshi Nakamoto’s white paper “Incentives”). And I am convinced that only the community can become the first major contributor to this system.