It’s not that everyone who works in crypto/web3 is a scammer. In fact, many are probably good-hearted and motivated people. The problem is that the vast majority of these project are backed by founders or VCs who recognize that they can get an almost immediate exist strategy by using a blockchain and a token, with lots of feel-good buzzwords, to “raise money” which actually means printing crypto for free, dumping it on retail investors in exchange for a massive fiat stack, and then not actually building the thing they said they would. (Look into ICO craze). 

It’s just that the “blockchain tech” is a poor way to build these projects — decentralization and “democratizing [insert whatever]” don’t require a blockchain, as evidenced by Nostr — but these crypto tokens are an excellent way to “part a fool from his money” and that is almost inevitably what happens.

Cryptography is absolutely a tool for decentralization/democratization. 
Financialized crypto tokens - not so much.

“Follow the money” and you’ll find the incentives behind the seductive stories. 

 Thank you, for taking time to further elaborate. Yeah, sadly I was a victim of a rug pull in similar fashion. :/ Really bitter pill to swallow and digest some of these valuable lessons.  

 Sorry to hear that 🫂 it’s a painful (and powerful) lesson. A friend got wrecked with FTX, despite numerous attempted warnings. Not a “lost my life’s savings” story, thankfully, but painful nonetheless.