This is the free market at work. Take a look at the film industry, or the game industry, Hell, take a look at the crap China makes on a daily basis.
This is capitalism at work. Welcome to the real World.
If you notice, people are becoming more and more picky about the coins they mine.
Not to mention the "IPOs." IMO, the best way to look at the next one is to see it as a lottery ticket. You plunk down your $20 or $50 and you takes your chances. If it's a scam or fustercluck, you end up with a busted ticket and some memories - exactly like the real lottery. If you're a lucky winner, you might get 0.1-0.2 BTC out of it. If you're very lucky, you might score a Bitcoin. If you're really, really lucky, you might win enough for a new mining rig.
Look at this one, from which the devs have scampered off:
https://bitcointalk.org/index.php?topic=528925.0;all Supposed to have launched three days ago, and it hasn't. To be honest, I went in because the whole concept captured my imagination. But because I've been burned, having thrown 0.4 BTC into Edgecoin, I only threw in 0.1 BTC. So did many others, more or less.
The "IPO" was open for a month. Total haul? About 1.5 BTC. Yes, less than eight hundred bucks from
everyone.
We're learning slowly, but we're learning.
