[qppo]

The ability of fiat currency to enter the money supply at the discretion of a central authority is a feature, not a bug.

[jonkho]

Says you. Like all interventions, there are winners AND losers from this type of intervention.

[qppo]

says the lack of bank panics, sustained inflation, and reduction of recessions to speculative bubbles, of which decentralized currency doesn't fix.

[jonkho]

Right. Your's a textbook answer to the textbook question. What are the causes of bank panics? Who are the winners and losers of this inflationary intervention/"reduction" of recessions? If the winners of these policies continue to keep winning, is this good for society at large? You don't seem to see the big picture. Product of one-step thinking. But my contributions to this thread ends here.