It is important to inform people about the potential dangers with the technology and investing in it, especially since there are no regulations to create, e.g., new tokens. There are scams going on and it is easier to get away with it because it is an unregulated market. However, blockchain technology is an emerging area and it's bound to be chaotic in the beginning. We should highlight the risks but not condemn the tech. Also, stay positive!

How is it an "emerging area?" It came out in 2008. In the tech world that is a lifetime.

Smart contracts came out in 2015 on Ethereum apparently. What came out in 2008? Bitcoin 1.0? Things do move fast in tech, you may want to keep up with the latest versions before writing off the web saying you've got it figured out based on your experience with the Mosaic browser. Sometimes opinions need updating too, everything evolves.

Yes, I was referring to blockchain and bitcoin rather than ‘smart’ contracts.

I agree, why not use the resources we have, but, I guess he meant that even though processing power were to stagnate we could still make progress?