One thing is for sure that is while the alt coin(sh*t) coins are hot story these days seems many developers coming out of no where and then introduce a new coin and funny thing is they take their cut before the coin even launches, meaning they say something like : "we the dev team are taking pre mining or what ever excuse they can come up with for our work and as our share.
WTF? you make a scam coin and take a large amount to sell later in a massive pump, and people are OK with it and soon after announcement we see some one comes and says :"I run a pool" or "great idea I'm in"or "block explorer with me" and all supporting it.
They are forcing their work to people and taking a huge share from our pockets while we go and trade those coins.
Every day a new coin coming out and all the big players or should I say big scammers and thieves get in bed with them to screw people over. shame on you.
There is a lot of truth in your post.
Basically, there are 2 coin factories that I know of. There could be more, or maybe not.
The "dev" is always just a front. He is non-existent. they clone the same coins again and again. They have multiple usernames on bitcointalk, which have been bought. They buy up mid-ranking to high-ranking names. Some are popular people on here.
But someone funds this, which makes it effectively sound like organized crime. the people involved that I know of differ from technical intelligence to shill power to confidence trickery. But they are not particularly wealthy. So where does the money come from? That a couple of million dollars can be traded on a useless coin?
My guess: The money is not there. nobody traded the amount shown on an exchange. Draw inferences from there.
On the other hand, shitcoins (understood as being made NOT to deceive people) are just shit coins.
