Rumor has it that a CEO of an cryptocurrency exchange, i.e., Cryptsy, trading altcoins wouldn't be able to afford a Florida mansion if only trading one or two altcoins. He needs 100s. And, when Cryptsy goes kaputski, as we're witnessing now, said CEO simply goes to China and opens up a Cryptsy clone to trade ... wait for it ... hundreds of altcoins, most having no utility, again, as we're seeing now. BTW, Paul Vernon, the CEO in question, denies that the Chinese Cryptsy clone and Cryptsy are related in spite of having the same email address to contract both. Perhaps, that's just a fluke, easily explained away by those sucking Paul's Floppy Disk on a daily basis. HAHAHA
That's actually pretty amusing even if it's not supposed to be. Hehe
We need as many coins and innovations as possible so when this does go huge we'll know what works, what failed and what people like and dont like.
All these coins are just tests for one day when crypto takes over.
One word.
Innovation.
There are here to innovate and build new ideas within crypto not already explored with bitcoin.
As someone else said, there's no innovation in over 99% of the coins.
Because people is not enough with just 1 coin, that's why they made altcoin (for the alternative)
I don't know what you're saying to be honest.
People like diversity and I think taht it is good to have many different coins, not just one or two. Like in fiat currencies. And is also kind of competition.
Competition between what, coins that you can't use anywhere?
People have their own visions of what cryptocurrency should be and if Bitcoin is not fulfilling their dreams some will create others. Why not? Even you could make your own coin and try to get it popular. Chances are huge that you won't success but hey, if you have some extra free time go for it
Crypto implies anonymity and security, and Bitcoin has neither.
