too many alternative coins

[hypostatization]

Clone alts flooding the market is a great thing---and it is a great thing exactly because of posts like these.

As copy/paste coins proliferate, there is a simultaneous steep rise in interest for systems like Mastercoin, eMunie, Monetas, NXT, and Ripple.

They offer radical new approaches, and those qualities stand out as dull generic coins fill in as the backdrop of the market.

It takes more to stand out. Innovators do exactly that.

[1715186142]

1715186142

[1715186142]

1715186142

[vlight]

Well, good. If there is money to be made in this market, someone will eventually produce a solution that will make bitcoin obsolete.

[Bigeyeone]

no such thing as too many anything in a free market

[gnode]

This sudden increase in new coins is not New. It has happened before. It happens when coin prices spike up.

Why? Coin devs trying to cash in.

How does it play out? Let's look at history.

A lot of coins get issued, some end up on exchanges. If they don't get on an exchange they die. Typically if they end up on an exchange other than cryptsy they can hold on like on life support until they get on cryptsy. At the present time, Cryptsy is the king maker for coins.

So what is the strategy?  Mine those that will get on an exchange. When they hit the exchange dump the coins and make money.

Which coins get on an exchange?  Your guess is as good as mine. Maybe some have unique properties? Maybe some have a lot of hype?

Therefore, the number of coins issued doesn't matter except it makes it harder to determine which will end up on an exchange.

[tarzen]

Too many perhaps, but in the spirit of Open Source Software this is good thing. People get to experiment with the Bitcoin source code and in the process dicoveries are made and lessons learnt. Just like with Linux a while back - when every Joe had a distro out for download - people soon realize what gives a software product value and only the fittest survive.

[Bluestreet]

It's tough finding a good coin. I know which one I am betting on, will have to see if I was right in 2 months from now.

[Towdogs]

who is making them? why? is there a way to stop it at some point.  someone is trying to make ALL COINS Look Foolish.

Find out who is doing it, shine a light on them so they will stop.  And Go Away. 

[elixir]

a few will make but i hope someday it will not be profitable to mine new coins.