Herein lies the problem of cryptocoins as a whole. When there is no regulation, you get a rogue free market. I am not saying we should regulate crypto currencies, but something needs to be done.

The problem in my opinion is not the number of new pump coins showing up, it's the exchanges that keep getting hacked and failing. The lack of security, the lack of care and due-diligence when it comes to running a proper cryptocurrency exchange.

Even though most exchanges are making good money, it seems the money being made from commissions and fees is not being invested back into the business itself. In the real world, all businesses operate on the principle of once your overheads are covered, you invest a little of the excess back into the business to help it grow further (or you take investment). Some of these so-called secure exchanges are running on the likes of Linode or DigitalOcean virtual private servers, don't understand basic server management, don't have hot to cold storage processes in place and keep everything in the one location.

All serious crypto coins need to work together and create the ultimate decentralised currency software that anyone can run. But it's a double-edged sword here, because won't that mean more people will be able to start running exchanges if you give the software away? Yes, but they're doing that anyway and look at the results? At least if there is a seriously tested, developed and constantly updated exchange, we can make it that extra bit harder for exchanges to fail because they're a sole point of failure.

Everyone needs to band together; Bitcoin, Litecoin, Dogecoin and Infinitecoin in particular collectively have just as much community and resources as a company like Google does. I think we need to organise some kind of online meetup amongst cryptos, a plan and solution needs to be developed and acted upon.