What matters for real economics is real savings, not increases in consumer spending driven by money printing. The best way to get an increase in savings is to decrease both money pumping and government spending.
Opponents of bitcoin now claim that bitcoin mining causes global warming and is an environmental threat. But the boom-bust cycles caused by central banks and their fiat money are far worse than any carbon footprint bitcoin can produce.
There is much talk these days about Fed "transparency" easing the effects of monetary policy. But it is not possible to deflate the present gigantic monetary bubble without a severe economic bust, and a policy of transparency employed by the Fed cannot prevent the inevitable bust.
Trouble emerges once banks start to engage in lending unbacked by real savings, this gives rise to the expansion of credit out of “thin air.” This in turn sets in motion the menace of the boom-bust cycle.