In the last couple of days, there has been a decent amount of discussion on
https://www.reddit.com/r/ethereum/ about cutting ETH mining rewards. See the following two posts as examples:
https://www.reddit.com/r/ethereum/comments/68jtnb/is_eth_mining_reward_a_danger_to_the_network/https://www.reddit.com/r/ethereum/comments/681pkp/we_should_reduce_issuance_for_metropolis/Two camps are emerging with respect to this issue. Those in favor of leaving mining rewards as is to ensure the future security and performance of the Ethereum network are not compromised during these times of high growth, and those in favor of cutting mining rewards to inflate the price of ETH.
Given the underlying purpose of Ethereum (i.e., a global, decentralized computing system to run smart contracts), I don't see how propping up the short term appreciation of the value of ETH serves that purpose. However, cutting mining payouts could severely undercut Ethereum's main purpose of being a decentralized computing platform. This is especially true now with Proof of Stake looming in the shadows. I don't think the traders who want mining rewards reduced truly appreciate that if they scare of miners from ETH now, they may not come back given the looming implementation of PoS.
Obviously, this issue has significant implications to ETH miners and the Ethereum project. Make sure your voices are heard on this issue to ensure the continued stability and success of the Ethereum Project.