Are Bitcoin and other digital currencies the future of money?

Q1: Name all the money mentioned in the above article.

A: Bitcoin, Stablecoins, Central bank digital currencies, US dollar

Q2: According to the article, do you think Bitcoin can be used as a standard of deferred payment? Explain.

A: No. As the price of Bitcoin is too volatile (changed by 2.2% per day), the future price of Bitcoin could deviate a lot from today's price. For example, 1 Bitcoin is worth $30,000 today could be worth $10,000, $50,000 or $100,000 one year later. Since the future price of Bitcoin is uncertain and unpredictable due to its huge price fluctuation, Bitcoin cannot be used as a standard of deferred payment.

Q3: According to the article and the properties of money, why Bitcoin is better than existing currencies as money?

A: Bitcoin is better than existing currencies in terms of scarcity. The supply of Bitcoin is fixed at a maximum of 21 million while the supply of existing currencies is decided by central banks and theoretically they can print as much money as they want. Hence, Bitcoin is much more scarce than existing currencies.

Q4: Are stablecoins "money"? Explain.

A: It is "money" only in the cryptocurrency market as it is a generally accepted medium of exchange for different kinds of cryptocurrencies.

Q5: Do you think digital currencies are the future of money?

A: Open answers. Freely express your thought from economic, political and social perspectives.