ALTCoin madness has to stop a bit..

[nosf009]

Well, I hope this low IQ, greedy, smelly and theft-filled community is happy and proud of itself for what we've accomplished here.
By successfully pulling in masses of "get rich quick" dirt from outside world, increased number of scamming coins, scamming devs, scamming traders, idiot panic holders/dumpers, pump and dump schemes and mine for profit mega farms, it all greatly added to the recent price drops, and it'll continue going that way. Who in fact needs zillions of penny coins, bunch of 1-coin, 8-coin, 42-coin coins with no real potential usage?

Case 1:
Someone comes into cryptos, takes in his hard earned 1000€ and Fontase or Wolong or any other copycat pump and dump fucker *leader* take his 1000€. Cute, right?
Case 2:
Someone comes into cryptos, buys rig, mines coin, developers dump and run. Sometimes even for like 2 BTC, jeez. More cute, right?
Case 3:
Someone comes into cryptos, scams people on PM in so called trading. Awesome! Or not?
Case 4:
Coin started, day 3 - people yell: GET US ON EXCHANGE. Day 4: Exchange happens. Day 5: OMG; PRICE DROPS? Well, isn't it obvious why people want on exchanges? This is my all time special favorite!
Case XX...

Depending on how much one would feel to spend time in writing down all possible cases, we could go to 2-digit list for sure for all scenarios that go around here.
And exchanges? Well, most seem to be on top of the food chain, nothing more. Generally, they just profit from trading fees, having nothing to loose to begin with.
I mean, recently, if your coin has some volume, no problem - any exchange takes your coin, even if it has ZERO fucking services up. That doesn't look strange?

So, yeah - here's what'll happen: (taking it from what I saw happened to the IM jobs worldwide on a same principle, you can count on human race to be stupid enough to repeat history)
Human cockroaches aka scumbags and thieves will profit on back of total market caps and endangering future of coins.
At this point (and yeah, you can all blame MtGox only, sure, flame me too) 4 billion lost in less than 2 weeks. Sure, the majority of money hasn't left the cryptos, it's just sitting in fiat on big exchanges, waiting for better days to buy back in. But, till then and during that repeated process, many billions of fiat will be taken from fresh, new hands, and impact of that might not lead cryptos to a point where everyone wants them to lead. Don't YOU feel weird when you realize that cryptos became just a hunt for more fiat? Irony detector not working?

Anyway, I don't expect much, probably either ignore thread, or some idiots coming to counter-flame this, with some *facts* or some shit, but I decided to leave this here, as a food for thought.
At least for the smart ones, I hope.

I gotta admit, I've seen so much here that my faith in humanity dropped couple of levels in last few months.

How to change it?
Well, someone has to convince masses that things should go differently. OR; shitcoins need to die as soon as possible.
MISSION IMPOSSIBLE; due to profit that can be gained. I mean, if YOU or I won't do shit for 0.001BTC/day, there's always those who will, so it's impossible to change.

Let's then just leave this as *I told you so* material you can copy paste to people around in couple of months. In worst case, weeks.
Enjoy it while it lasts.

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[SeriousCoins14]

I agree with you OP, but this is how everything involving currency on the planet works.

The only way to stop it is to have honest people regulate it.

The stock market is regulated.

Then the regulators rape you 25,000 times worse once corrupt vagabond sociopaths with genetic infused money grubbing psychosis eek their way in.

You can and will not ever invent something with good/noble intent that doesn't get surrounded by snakes. Only problem is today we have to sit back and take it. Alt coins are a good thing and a fun way to get coins as a hobby or for smaller dollar investments for people that can't play with bitcoin, but the few always destroy things for everybody. Always. If you erase EVERY coin but bitcoin, the snakes would just come up with 1001 devious ways to steal your bitcoin..

[groggin]

  keep it all open source forever and it will sort itself/self govern

[zyronx]

I agree with the OP too. it seems like a new coin is coming out every hour. Most don't have no uses except the quick hype and the pump and dump. I was into the crypto thing back last summer for a month or so. then gave up. and came back when I saw this DogeCoin.  I was shocked to see how many others coins have sprouted like weeds. These things need a purpose. Just not a quick pump and dump.  It really amazes me. it kinda feels like magic the gathering to me . got to have them all and race to sell them before they lose value the people put on them for a short time.

 

[jubalix]

theres no problem here as long as their is money on the table, there will be new coins.

its good for competition and progress.

I think ultimately every processor made will be mining their own block chain with every spare cycle they have, thats how many coins there will be.

hell there will probably be some coins running on abacuses at some point


if you have any knowledge of thermodynamics, this just an organisation system to reach the lowest energy level to arrange society with respect to energy and matter reserves