do i have to say this in every fucking thread? without litecoin and other altcoins, bitcoin mining would cease to be profitable. alt coins are necessary evils because they spread the hashing power out accross multiple networks, allowing everyone to profit in some way shape or form. without litecoin and altcoins. you could multiply the difficlut by 5 and decrease your profit by 50 percent. those are just guestimates of course.
So we should make 1,000,000 altcoins and end poverty. You don't really believe what you wrote do you?
I think you're putting to much weight on what he's saying and therefore missing the point.
A few alt-coins is a good thing, considering it spreads everything out more evenly.
Creating a million shitcoins as is the case today, you will only have a million weak, useless pieces of crap that does no good to no one.
Also, having two or more "strong" alt-coins provides competition. With three strong dev-teams there's bound to be a lot more cool innovative ideas than just one "super-strong" dev-team spinning away on a single track.