Cookie-cutter "but crypto is a scam" comments are well deserved on HN.

Take it as someone who worked in crypto doing on chain analysis.

It's 99.999% scams, rug pulls, insider trading, ponzis, pump and dumps, and insiders stealing customer funds. It's a zero sum game because crypto does not increase productivity. Crypto is also one of the best ways to transfer wealth from the poor to the rich.