Quote from: seleme on April 27, 2013, 11:08:34 PM

Quote from: BrewCrewFan on April 27, 2013, 11:03:46 PM

Quote from: seleme on April 27, 2013, 10:49:22 PM

Quote from: miningnew on April 18, 2013, 06:47:16 PM

I am looking here for the first time and i am supprised how many coins exist.
But why? Any sense?

There is. Developers and early miners bank on them. They've seen ppc and trc getting some value and thought - "well, why wouldn't I collect some cash doing the same".

While this may be true, there has to be a bit of a return on creating something. Why else would you do it then?

There's no point in doing it at all - that's my point. There's absolutely no value or purpose in new altcoins made each week. Cryptocurrency is supposed to be a currency and even bitcoin is not that yet and yet people are making new altcoins on weekly basis just for pump and dump purposes.

As far as I'm concerned anyone who make new altcoin without any innovative technology is utter twat. He won't care about my opinion of course as long as he make money from doing that but that's how I see it.

Ok, they won't make that much money, and other people can jump in and make a few dollars with them if they like.

Besides, every new altcoin, even if it just takes the parameters of the old and tweaks them, is an experiment. Is it efficient? Is it safe? Does it work? At least one has already shown that a 51% attack works in practice. Every new business doesn't need to be based on a new technology. Look at the dot com bubble of Internet companies, or all the me-too car companies that popped up in the 1920s. Eventually the marketplace was shaken out and only a few winners were left standing. And it wasn't always due to superior technology, sometimes it was due to better business practices, or better management, or better marketing, etc. So any of these coins has a chance to succeed.

Bitcoin has the best chance though because it was first. I agree that to displace Bitcoin, it probably would take a new technology at this point. On the other hand, Microsoft didn't invent the operating system and Google didn't invent the search engine. They are still #1 because they took over the market...