Understanding Bitcoin and Cryptocurrency

What event in 2017 significantly increased public interest in Bitcoin?

• A major bank adopting Bitcoin

• Bitcoin being declared illegal

• A teenager becoming a Bitcoin millionaire

• The launch of a new cryptocurrency

Who is credited with introducing Bitcoin in 2009?

• Mark Zuckerberg

• Bill Gates

• Satoshi Nakamoto

• Elon Musk

What technology underpins Bitcoin transactions?

• Blockchain

• Artificial Intelligence

• Quantum Computing

• Cloud Computing

What is the process called where computers solve complex problems to validate Bitcoin transactions?

• Bitcoin Storing

• Bitcoin Mining

• Bitcoin Investing

• Bitcoin Trading

Why is Bitcoin considered volatile?

• It has a fixed value

• It is regulated by governments

• Its value is based on speculation

• It is backed by gold

What is a major difference between Bitcoin and the US dollar?

• Bitcoin is a physical currency

• Bitcoin has a stable value

• The US dollar is backed by the government

• The US dollar is a cryptocurrency

Why did the North American Bitcoin conference stop accepting Bitcoin for ticket payments?

• Security concerns

• High transaction fees and long processing times

• Bitcoin was banned

• Lack of interest

In what type of economies has Bitcoin proven to be a useful payment system?

• Unstable economies

• Emerging economies

• Stable economies

• Developed economies

What issue has led Venezuelans to use Bitcoin as an alternative currency?

• Stable local currency

• High employment rates

• Government support

• Hyperinflation

What is a potential benefit of using Bitcoin in countries with unreliable economies?

• It is backed by gold

• It is regulated by local governments

• It provides a stable value

• It can be used to purchase basic supplies