Money & Crypto

What is government issued currency called?

• State currency

• Fiat currency

• Stable currency

• Local currency

What does Fiat actually mean?

• For the future

• Good for all

• Let it be done

• Bring it on

What is commonly referred to as "the gold standard"?

• When gold reserves in the US amounted to 30% of BNP

• When gold was used as currency

• When gold was linked to the US dollar

• The time during the gold rush in Klondike

When was the gold standard completely removed?

• 1971

• 1930

• 1982

• 1955

What is fractional reserve banking?

• Banks need to have reserves to cover granted loans

• The value reserve of the banks needs to be divided into different fractions of asset classes

• Granted loans are fractioned between defined areas

• Banks can lend out money they don't have

What is the lowest percentage amount of the money banks loan to lenders that a bank need to have in vaults or in actual assets?

• 0%

• 5%

• 25%

• 50%

• 100%

What is the current inflation rate in USA?

• 3%

• 6%

• 10%

• 1%

How many percent of the total supply of USD in the world was created in the last 12 months?

• 10%

• 20%

• 40%

• 60%

Bitcoin could be seen as a hedge against inflation because?

• Not controlled by any central entity

• Because it has a limited supply

• Created by an anonymous person or group

• Because it's always increasing in value against the dollar

The oldest cryptocurrency is Bitcoin. How many Bitcoin can ever exist?

• 1 million

• 11 million

• 21 million

• 100 million