Front

What is fiat money?

Back

Money that has value because the government has ordered that it is an acceptable means to pay debts.

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How can one acquire bitcoins?

Back

1. As payment for goods or services. 2. Purchase bitcoins at a Bitcoin exchange. 3. Exchange bitcoins with someone near you. 4. Earn bitcoins through competitive bitcoin mining. 5. All of the above.

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What is the maximum amount of bitcoins that will ever be created?

Back

21 million.

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How does cryptocurrency differ from the U.S. dollar?

Back

Cryptocurrency value is not enforced by the government.

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What does decentralized mean in the context of cryptocurrency?

Back

It means there is no central point of the network; it is spread over a series of users.

Front

What is cryptocurrency?

Back

A digital or virtual currency that uses cryptography for security and operates independently of a central authority.

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What is blockchain technology?

Back

A decentralized digital ledger that records all transactions across a network of computers.

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What is the role of miners in cryptocurrency?

Back

Miners validate transactions and add them to the blockchain, earning cryptocurrency as a reward.

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What is a Bitcoin wallet?

Back

A digital wallet used to store, send, and receive bitcoins.

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What is the significance of the 21 million cap on bitcoins?

Back

It creates scarcity, which can influence the value of bitcoin over time.