This article couldn't be more wrong-headed. The author seems to think that a fixed amount of money, or a money limited by the amount of some arbitrary commodity (like gold) is a good thing. But the gold standard was a disaster, and caused the American economy to explode every 15 to 20 years, complete with bank collapses and widespread hunger, or rampant inflation when a new gold rush occurred. A Bitcoin-based economy would have massive deflation, which would mean that nothing you could spend Bitcoin on, and keep, would be worth as much as just holding your Bitcoin, so people would be reluctant to invest in anything.

Central banks manage the money supply to be reasonably stable. Yes, bank loans create money, and the central banks regulate this process so neither inflation nor unemployment can get out of hand. This process offends libertarians who seem to think that a completely free system could work better, but it can't: you need a mechanism to keep the money supply roughly proportional to the size of an economy, and blockchain can't do that.