Fund of Bitcoin Review Part 1

Front

Which of the following is NOT a definition of bitcoin: A global ledger, A digital Bank, A cryptocurrency, A peer-to-peer network?

Back

A digital Bank

Front

How big is a satoshi?

Back

One one-hundred-millionth

Front

Which of the following best describes Bitcoin?
Options:
Bitcoin is completely anonymous, so anything that a person purchases or sells on bitcoin cannot be traced back to them.
Bitcoin is pseudonymous. Wallets use an alphanumeric code that can be traced back to the owner.

Back

Bitcoin is pseudonymous. Wallets use an alphanumeric code that can be traced back to the owner.

Front

Because bitcoin has a volatile price and is a new technology for a lot of people, care and caution should be used before first buying or transacting in bitcoin.

Back

True

Front

Although bitcoin is used by people all over the world and it is not controlled by any government, it is NOT always a good investment idea.

Back

True

Front

Which of the following best describes the peer-to-peer network: Banks, The Government, Credit Card Companies, Individuals who verify transactions?

Back

Individuals who verify transactions

Front

Which of the following best explains why Bitcoin is called a cryptocurrency? transactions are verified using the principles of cryptography, its value doubles every year, it was created by the FBI, it is not easy to understand

Back

transactions are verified using the principles of cryptography

Front

What is the avalanche effect?

Back

When a small change in the input has a dramatic effect on the output.

Front

The process of converting a code into a piece of data is known as decryption

Back

True

Front

A function that’s easy to compute in one direction and extremely difficult to compute in the opposite direction is known as a one-way function.

Back

True