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Bitcoin Basics

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

Bitcoin has a fixed supply that is limited to a total of 12 million units or bitcoins.

a)

True

b)

False

2.

Bitcoin was created by Satashi Nakamoto, who is currently the CEO of bitcoin.

a)

True

b)

False

3.

Bitcoins are stored in a public ledger called the blockchain.

a)

True

b)

False

4.

The price of Bitcoin behaves according to ...

a)

Offer and demand

b)

The central bank's decision

c)

The owner's decision

d)

News

5.

How to get Bitcoins?

a)

Commercial banks and exchange between users

b)

Stealing from the creator

c)

Bitcoin stores, mining and at an exchange house

d)

Exchange between users, Bitcoin stores and mining.

6.
Bitcoin derives value through which method?
a)
Collapse of national banks
b)
Insider dealing
c)
Scarcity
d)
ETF trading
7.

What is the current Bitcoin block reward?

a)

50 BTC

b)

25 BTC

c)

12.5 BTC

d)

6.25 BTC

8.

The process of encrypting and decrypting information.

a)

Decentralized Application

b)

Cryptocurrency

c)

Block

d)

Cryptography

9.

What happens to your money during a period of "inflation"?

a)

Inflation increases the value of currency over time.

b)

Inflation decreases the value of currency over time.

10.

What is the closest to the current value of Bitcoin as of 9/21/2021

a)

20,000

b)

30,000

c)

40,000

d)

50,000