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WorksheetsBitcoin
Total questions: 1
Worksheet time: 7mins
1-10.
Answer the questions below after watching the video
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.
What is required to start accepting Bitcoin payments?
A miner's license
A software wallet
A physical wallet
A government permit
What do you need to make a new Bitcoin transaction?
A bank account
A physical wallet
A new Bitcoin address
A new email address
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
How does the Bitcoin network prevent double-spending?
By limiting transactions
Through email verification
By using a central database
With the blockchain
What is the purpose of mining in the Bitcoin network?
Creating new bitcoins
Verifying transactions
Both creating new bitcoins and verifying transactions
Storing bitcoins
What incentivizes miners to process Bitcoin transactions?
Both transaction fees and new bitcoins
A certificate of appreciation
Transaction fees
New bitcoins
What limits the total number of bitcoins that can be in circulation?
Market demand
A fixed cap set by the Bitcoin protocol
The number of miners
Government regulations
What happens to the number of new bitcoins created over time?
It remains constant
It increases exponentially
It stops after reaching 21 million
It decreases gradually
Why is Bitcoin considered volatile?
Its value is backed by gold
Its value changes based on the market
Its value is fixed
Its value doesn't change with the market
