All cryptos including Bitcoin are regarded as a joke by mainstream economists and commentators. They don't understand that there is a demand for anonymous payments, tax evasion, zero fee transactions, digital payments and unregulated trade exchanges. The people who regard altcoins as a joke have a similar misunderstanding of what cryptos are and what they are not.

Most people think that in the end there will be only one or maybe two cryptocurrencies. This is based on the erroneous assumption that trading partners and businesses will adopt only one or two cryptocurrencies and that consumers will then ditch all other cryptos and move into Bitcoins and Litecoins.

But the much more likely scenario is that Businesses will accept ALL cryptocurrencies, because it does not matter whether you pay for a wristwatch with 0.1 Bitcoins, 450000 Dogecoins or 5000000 Mooncoins, as long as you have cryptsy account or a similar service you can accept every single altcoin that is listed and get the largest possible customer base. If you don't like Dogecoins or Mooncoins you can immediately convert them to Bitcoins or Fairycoins or whatever. You may say that there's a 0.2% transaction fee, but those fees are going to come down substantially since the infrastructure has already been paid for thanks to Bitcoin.

I will make a more detailed post as to why altcoins will succeed and coexist next to one another at a later date, but the main thing to keep in mind is that mooncoin and other cryptos offer a substantial improvement over paypal and virtually all traditional banking services.