The creation of new Altcoins needs to stop
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.