They missed bitcoin train at the end of 2013, and want to get rich using same method like bitcoin bubble.
So they create altcoin, which many of them is crap coin, nothing new and only pump-dump coin.
And they promote it everywhere, telling another people this coin will make you rich, price will skyrocketing, to the moon and many more
They instamine or collect as many as coin at launching date, and dump it if that coin have decent price
They get profit, and create another crapcoin
Better condition if that altcoin have unique feature and innovation, better than bitcoin feature.
But back again, many of it just want quick rich scheme
The altcoin scene is starting to remind me of penny stocks where nobody makes any money except those touting the s stock.
yeah, most of altcoin done like that anyway
the winners are devs and many users who bought that coin at first and sell it at the right time
IPO / ICO coins even worse
the devs run with IPO coin, sometimes even before the coin launched. Too bad for many greed people who invest in such coins
No need to make more and more alt coins ,It's just a copy and paste by the way.
yeah agree If new coin feature just like another coin before, but if new coin give us new and unique feature, maybe it's better than bitcoin in the future