[kolev]

Gee, I totally get somebody putting money into Bitcoin or mining Litecoin, but the rest are honest scamcoins (or at least - circuscoins). If you mine, then it's probably okay, although it still costs you real money (energy, hardware, opportunity cost, etc.), but to put money (fiat or bitcoins) into it - you need to be completely out of your mind!

[Marazan]

What makes Bitcoin and Litecoin not scam coins?

[kolev]

Nothing of essence, of course. I strongly believe Bitcoin is a bubble that will burst this year although I definitely recognize the innovation and awareness of certain problems that it brought. But at least you see some legitimacy and a level of assurance in VCs putting money into Bitcoin startups where Dogecoin and the likes are just honest scams, not even bubbles. What kind of a person would put money into something called BBQCoin or Junkcoin?

[wmf]

There's an argument that the world needs one cryptocurrency but not two. Therefore the first one (Bitcoin) is not a scam, but all others are.

[GFischer]

Your second point doesn't necessarily derive from the first.

I can understand standardizing on only one cryptocurrency, but why not one that addresses many of Bitcoins' limitations?

I'm not saying it should be Dogecoin, actually I hope not, but it could be.

[wmf]

I agree that the one cryptocurrency doesn't have to be Bitcoin. What I left unsaid is that so far none of the altcoins provide enough improvement over Bitcoin that it's worth breaking compatibility.

[buttsex]

People were saying the same thing about Bitcoin a year ago.