Quote from: dickwhite on July 27, 2015, 09:29:40 PM

Quote from: newrad on July 27, 2015, 03:02:33 AM

The creation of new Altcoins needs to stop

I like to think cryptocurrency exists because there is no one to tell us to stop, or what we can do with our money, or how we transact our financial affairs, Like it or not, this is what unbridled freedom is: beautiful anarchy. If anyone has the means, they can create a new coin of their liking, without limits, rules, and the permission of an unelected authority. And it is solely up to you, the investor, to protect yourself from losses. I wouldn't want it any other way. Like every thing else in the world, the good far outweighs the bad, especially when you consider benefits of the open-source software.

Like a true free market, cryptocoins with integrity, innovation, usefulness, and loyal communities are thriving. They are not hurt by the proliferation of alts, nor would they be helped by limiting them. It is not particularly difficult to identify good coins, especially with the resources of the internet. I have the notion that greed plays a large role in people chasing these new alts and getting burned. For that, they are rightfully punished. For those who naively stumble into the trap, well, eduction ain't free.

What the community members can and should do is police itself, rout out the serial scammers and endorse good coins based on the criteria above. Everyone will benefit here.

Long live cryptocurrencies and open-source software!

lol. it's okay to create whatever you want as long as you're not using it to rip people off. Marketcap of crypto has decreased since 2014 and it'll keep falling. As much as you're enjoying your BTC from pnd the reality is it's not attracting new investors and those who are getting attracted are leaving after losing money. In few years marketcap would die down to few hunder dollars if things keep going the way they are right now.