My opinion is that the true believers were those who participated in the ICO and all of this is possible thanks to that funding effort. Aeternity Foundation literally slapped them in the face with unnecessary initial hyperinflation. Community would participate more and caring about the project if they would see that it would help their stake value grows but instead Aeternity progressively decided to destroy the value of token stakes by badly designed inflation curve. Clearly they decided to appreciate miners more than the ICO founders and believers, but miners didn’t bring too much value on the beginning. When bitcoin started it was different, there were no holders that could support that project so Satoshi Nakamoto decided to build them by allowing very high mining rewards from the beginning (that is relative to say, you can also say he decided to quickly decrease inflation after initial distribution). There were no previous token holders that would be angry by the huge initial inflation, because there were no initial token holders, so practically there were no inflation at all, just distribution. Due to that Ethereum decided to implement flat mining reward issuance to balance founders and token holders and miners that secures the network. It would be dumb to do it otherwise.
Everybody is overwhelmed by the damage done and not announced enough… It paralyzed all the believers and they might participate and support projects that may incentive they effort.
So to sum up:
- in Bitcoin Satoshi decided to distribute large stakes of tokens on the beginning and then make the coin deflationary decreasing inflation quite quickly
- in Ethereum the initial tokens were distributed on the beginning via ICO and then they set up constant, not too big mining reward that practically is deflationary. What is more important these ICO founders created flourishing economy because they clearly have seen that their efforts bring the value and nobody designed inflation to take it by force
- Aeternity decided to distribute tokens via ICO and also via huge initial mining rewards, but combination of these distribution ways are both in conflict, destroying not only the token value but also the initial community, confidence in the project and trust in Aeternity Foundation so instead of win-win we have situation that all lose