It is like any other ponzi scheme, the people who make a living promoting ponzi schemes want a constant stream of new ponzi schemes to be launched so they can profit from them.
So called "fair" and "unfair" is something only the scammers who make their living promoting ponzi schemes care about, because a ponzi scheme is still a ponzi scheme, that is, a scam, regardless of whether a particular ponzi scheme is "fair" to professional promoters of ponzi schemes or "unfair" to professional promoters of ponzi schemes.
Basically the professional promoters of ponzi schemes consider a ponzi scheme "unfair" if the authors of the scheme make most of the profit from it, and "fair" if a good chuck of the money scammed out of innocent bystanders, suckers, idiots, and in general everyone other than professional promoters of ponzi schemes ends up in the hands of the professional promoters rather than in the hands of the authors.
-MarkM-
I don't consider that to be a reasonable answer. It is rather an answer an established miner with BTC in their wallet would give. I too would be happy to see an end to new releases since it devalues the older alts that the previous waves miners have. However the new alts that are fairly released are no more of a potential ponzi than BTC was and could be argued still is. The model is exactly the same. To be frank BTC could be argued to be far more of a ponzi in terms of it's origins. The wider the distribution at the start the less something can actually be a ponzi.
Let's not offer opinion, let's look at the hard facts.
The entire premise of the mining is to enable distribution through work done. What you are suggesting is that is does not matter if developers do a lot less work and a very large proportion of the rewards? Anyone who does not agree that devs should take a HUGE % of the coins for pressing copy and paste are also part of the scam for wanting to mine new coins at all and get a fair return for the work they do? sorry that does seem like strange branch of logic you have employed right there.
If the coin is actually announced, and fairly launched with a wide and fair distribution based on work done, then actually their existence is just as justified as BTC if not more so if you want to base it on work done/ coins rewarded ratio.
To write off all alts as ponzi scams whilst pushing BTC has obvious motives.
The fact that there is essentially no need for new coins is not the point.
Your reasoning above is totally distorted i'm afraid, it actually makes no sense. The proffesional promoters ? these are standard miners that have exactly the same chance as any other miner (except the devs whom tip the balance of favour grossly in their favour) if though fair mining these people obtain coins and wish then to promote ...i see nothing wrong with that.
Not every single alt is a pump and dump, and actually i think so many are pump and dump precisely because devs are allowed to create them so they can pump and dump them. People then assume all fresh alts are all pump and dump..... and very occasionally they will live to regret this in a huge way when on of the 1000 coins they mined does actually get a foot hold and take off.
I'm sorry but unless you can explain why there should not be a code of fair release for coins then your comment is pretty much worthless.
Your opinion on whether ALL alts are pointless and developed with the sole reason to pump and dump is only your opinion you can't actually know every single dev is soley in it for this reason.. If ALL alts had to folllow a fair release protocol you would actually i suspect see a LOT less alts released since as devs would have far less reason to bother releasing them since concentrated enrichment for them will be a lot more difficult.
So again i ask you - Give me 1 good reason why a fair launch protocol should not be established? One reason why it should not exist?
Sure devs don't have to stick to it, but if they don't choose to then it is obvious as to why that is.
