Bitcoin General Quiz

When was Bitcoin first introduced?

• 2010

• 2012

• 2015

• 2009

What is the process of creating new Bitcoins called?

• mining

• generating

• printing

• minting

What is the purpose of Bitcoin transactions?

• To facilitate international money transfers.

• Transfer value in a decentralized and secure manner.

• To provide a stable store of value.

• To track and monitor financial transactions.

What is a private key in Bitcoin?

• A private key is a randomly generated number used to sign transactions and prove ownership of Bitcoin.

• A private key is a physical device used to store Bitcoin.

• A private key is a public identifier for a Bitcoin transaction.

• A private key is a password used to access a Bitcoin wallet.

What is the main advantage of Bitcoin's decentralized nature?

• Increases transaction speed

• Eliminates the need for a central authority or intermediary

• Provides anonymity for users

• Allows for easy government regulation

What is the term used to describe the rapid and significant changes in Bitcoin's price?

• volatility

• consistency

• stability

• fluctuation

What is the current maximum supply of Bitcoins?

• 21 million

• 10 million

• 100 million

• 1 million

Which of the following is NOT a recommended practice for Bitcoin security?

• Using a weak password

• Sharing private keys with others

• Storing private keys on a public computer

• Using a strong password

What is the term used to describe the process of converting Bitcoin into traditional currency?

• Bitcoin conversion

• Bitcoin exchange

• Bitcoin transfer

• Bitcoin transaction

Which is NOT true about Bitcoin?

• it is a digital currency

• it can be duplicated

• it doesn't have a central issuing authority

• it isn't attached to any state or government