Bitcoin
Authored by Stephanie Hickey
Business
9th - 12th Grade
Used 9+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What makes Bitcoin different from traditional currencies?
It is backed by gold.
It is controlled by a single authority.
It has unlimited supply.
It operates independently of traditional financial systems.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is required to start accepting Bitcoin payments?
A miner's license
A software wallet
A physical wallet
A government permit
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do you need to make a new Bitcoin transaction?
A bank account
A physical wallet
A new Bitcoin address
A new email address
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the security of a Bitcoin transaction verified?
With a physical ID
Through a phone call verification
Using digital signatures
By a central bank
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the Bitcoin network prevent double-spending?
By limiting transactions
Through email verification
By using a central database
With the blockchain
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of mining in the Bitcoin network?
Creating new bitcoins
Verifying transactions
Both creating new bitcoins and verifying transactions
Storing bitcoins
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What incentivizes miners to process Bitcoin transactions?
Both transaction fees and new bitcoins
A certificate of appreciation
Transaction fees
New bitcoins
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