Bitcoin Forum

does not make sense to me...

It's called a free market :D

People make new coins hoping to sell them and make easy money.

There is a lot of experts here who do this as a service.  Therefore those who can pay get their alt coins, a lot had come out, more to be out I guess.

THCoin  ..get it

Most of them will fail, but it's always a good bet to go on such a alt coin...

I consider it a good thing that they are being developed and that most are failing. If one succeeds then it must offer something better than what bitcoin provides or it must offer something that bitcoin doesn't. The ones that fail prove that bitcoin is competitive. That doesn't mean that bitcoin will fail if one or more alt coins succeed since there is a huge market for these currencies to grow into. It also means there is some place for miners to go when they are out hashed by ASICs.

Different coins, different flavours.. yum yum yum

you never know, maybe after 1000th tries something interesting emerges. So keep trying...

good question

I am coding some, will release here soon.

when I wake up, tehre will be more new coins? heheh who will pay for all of them hmmmm?

people want to create a coin some fail some succeed

mining when not on exchange as well as buying when on exchange is like gambling - you pump the money to black hole wishing you score one time!

Greed

cuz we poor guys with vga can't mine bitcoin anymore

Because many 12 year-olds want their own coin.  ;D

Because people want to:
1. Create new coins and hoping for them to become popular.
2. Creating new coins to scam newbies to digital currencys.
3. Other coins get popular cause miners who cannot afford a btc mining rig starts mining alt coins instead.

As noted in the first response, its a symptom of the free market.  Considering the amount of press, financing (lot of silicon valley action now), and increase in volume/value of Bitcoins over the last six months, it was only a matter of time until someone said "Hey I can do that too". 

Bitcoin has a big head start but there are some heavyweights with a lot of money behind them (Ripple).  Competition is good for consumers (us) though because it forces the producers to increase their product value either through efficiency or innovation. 

People like alt coins thats the short answer.

There are a lot of recent altcoins, because people can start new coins by simply changing some parameters in the code for an existing client and create a new altcoin. Altcoin releases used to be less frequent and typically involved bigger deviations from each other, but now...

+1

I'm all for free, but without any limitations (as it is now), its nothing but chaos. However, it's still up to the miner to decide which one they should "invest" in I guess. Who knows, one of these "shit" coins might turn up bigger than anything we've seen. Stranger things have happened.  :P

Be careful, if the .gov can show your intent was to get in, hype it to create a bubble, get out, and let it die - they can prosecute you on fraud.

Free market does not give the right to intentionally scam the naive and there are existing laws in place in most countries.

cuz everybody wishes they could go back in time and mine bitcoins at difficulty=1 so hence all the alt coins. plus it lets hobbyers cpu mine some coins. its still worthless but more fun to see 1 bongocoin rather than .00000001 BTC after a days mining

Don't underestimate the first mover advantage, which Bitcoin most certainly has:

http://en.wikipedia.org/wiki/First-mover_advantage

Why not only one world currency? (I think you can read my sarcasm lol)

I agree, we only need GLDCoin.

Ya, I dont like that much alt coins too. It probably is because people missed out on being early adopters of bitcoin and they wanna become early adopters of their own alt-coins, hoping the value will increase someday.

It brings variety to the Bitcoin forums.  Come on, some altcoins can be fun and exciting.

People are all trying to cash in on any market they can get their hands on... Why do we need more than once social network..?!?! Its just evolution and who can do it better :)

Most won't survive but I like that they all have competition.

What is lacking is a bit of innovation.. Right now there is only scrypt/sha256/scrypt-jane...
Would love to see another coin with some original proof-of-work-scheme...

Just my 2 cents...

Title should be why so many shitcoins

People want to earn Money easily.

Peoples trying to make money quickly.

the more the better - ony shows how bitcoin itself is the best choice

People can't make up their mind  ???

Like others have said, first mover advantage.  Also its an effort reward equation.

For moderate effort one can make a new currency, the rewards if it takes off could be massive.  Cost of creating the new currency is low compared to the potential rewards.