It seems we have a serious problem with the first generation of cryptocurrencies being mainly a vehicle for scams and otherwise extracting value from gullible people.

From what I've seen so far in most cases "stable-" isn't really stable and currency definitely doesn't work like one.

Or am I just biased by sourcing my information from HN and only seeing the cases where crypto crashes and burns instead of all the successful ones no one here is talking about. Are there any?