I agree with your findings and would add that the purpose of public spending has to be monitored: if it will stimulate any kind of activity that results in labour, we should not worry too much. However, we should restrict public spending as soon as inflation is caused by declining productivity. I understand that most of the COVID-related spending programs so far are intended to result in preserving productivity levels. In my opinion crypto is more likely to play a role in terms of fair distribution of wealth rather than as an alternative to inflation-prone fiat money.