Week six covers money, banking and the mechanics of the Federal Reserve. The three functions of money include: medium of exchange, unit of account, and store of value. Cryptocurrencies have been touted as potential replacements for the monies of modern industrialized nations. The history and economics of bitcoin is explained in the "Crypto: will the bitcoin dream succeed?" video produced by The Economist.

Answer the following important macroeconomic question: According to the video, is bitcoin money today and/or will bitcoin be money in the future? Will or should bitcoin replace traditional fiat currency? Consider the three functions of money when answering the question.

Remember, 1) write in third person 2) apply the principles and concepts related to the definition of money and the three functions of money into the economic analysis 3) explain ideas in detail using economic logic 4) Do not consider additional sources. Refrain from visiting supplemental websites or using online AI software to construct or edit economic analysis.