Seeking Answers to Common Bitcoin Questions: Help Me Understand the Future of Currency

Hello everybody,

I would like to begin by expressing my belief in Bitcoin as the currency of the future. However, I have some doubts that I would like to have clarified. Whenever I engage in a discussion about Bitcoin, I am often asked one of three questions:

1. What happens when the last Bitcoin is mined? What incentive will miners have? Will the system collapse?
2. A currency cannot be deflationary because people will not spend it if it increases in value. Therefore, Bitcoin cannot be used as a currency.
3. How would you provide loans, welfare, etc., in a system where money is based on Bitcoin?

Unfortunately, I am unable to provide a response to these questions as I am unsure of the answers myself. I have searched the internet but have not found clear explanations. Therefore, I am asking for assistance from experienced Bitcoiners who can help me to understand these issues.

This would not only benefit me but also others who are interested in Bitcoin.

Thank you.