Most of the shit coins you see are just copy/paste coins that some kids are pumping and hoping to earn a few bucks on unfortunate guys that invest in their scam coins. YoBit is exchange that adds a lot of that shit stuff so just don't look there if you don't really know how to differentiate them from potentially good ones or if you are new to altcoins overall.
Agree. The great majority of alt coins are just BTC clones, and some of them are even cloned from ETH, with a few only providing promising technology and good development team. If you take a good look at what's happening in crypto land right now, there have been a great number of ICOs emerging almost every day. But, it is up to debate whenever these projects may truly deliver as promised in their ICOs. That is why, if considering to invest into a new altcoin, you should first make a research about its community, development team behind it, number of premined coins, among other factors before regretting losing all your money at once.
In my case, those new altcoins that look promising, I try to invest the minimum amount possible, as if the coin then gets dumped, I wouldn't have loss to much money. Just my opinion.
