All About Bitcoin!

How many Bitcoin can ever exist?

• One hundred thousand

• Twenty one million

• Eighty four million

• Twenty million

What Is A Bitcoin Wallet?

• It is a regular flash drive with a particular key on it

• It is a physical wallet to store bitcoin

• It is a physical wallet to store transaction receipts

• It is software

Who Invented Bitcoin?

• A group of researchers

• An anonymous person who took the pseudonym of Roy Rodgers

• PayPal founders

• An anonymous person who took the pseudonym of Satoshi Nakamoto

How Is The Price Of Bitcoin Determined?

• Through supply and demand across multiple Bitcoin exchanges

• Determined by the developers of Bitcoin

• Determined by the demand for transactions at the moment

• Through an automatic system

What Is A Bitcoin Address?

• An identifier of a Bitcoin user in the system

• A synonym for a transaction

• A string of letters and numbers used to receive funds

• The address at which your funds are being sent to

What is a private key?

• A password to your wallet

• A string of letters and numbers used to sign transactions

• A string of letters and numbers needed to send Bitcoin

• A string of letters and numbers needed to receive bitcoin

What's a seed?

• Same as a private key

• Sequence of words used as a password for the wallet

• Sequence of words used so a private key can be (re) generated

• What miners get when mining for Bitcoin

What is a Bitcoin block?

• Certain amount of Bitcoin

• Transaction over 3mb of data

• Several cryptographically verified transactions that are bundled together and are written on the block chain

• 5 cryptographically verified transactions that are individually packaged and sent to the government

What is a Bitcoin block chain?

• All transactions

• All unconfirmed transactions sorted by date

• All confirmed transactions sorted by date

• A sequence of blocks with all of that day's data

What is the purpose of miners?

• mine out new Bitcoins out of mines

• Control how many Bitcoins are created

• Supervise

• Process transactions