Quote from: markkobarr on May 10, 2013, 11:19:19 PM

bitcoin and other alt currencies reward early adapters/miners as price increases. those who missed BTC windfall, are now betting on LTC while it's relatively cheap hoping for an increase down the line. FTC and others on the horizon. early adapter = money in your pocket. the only person who makes more money is the creator of an alt coin. it just makes good sense ... if you start your own coin, you're guaranteed to make money (even if it fails after 2 wks, 2 months, .. 2 yrs). as long as this is the case, I think we'll continually see more and more alt coins. I don't see an end in sight.

See, you just described a Ponzi Scheme nearly perfectly. Ponzi schemes are illegal as hell, hence why people call coins designed to solely benefit the creator and the earliest adopters a scam.