LAST UPDATED ON 25/5/2021
1. Bitcoin Uses ________ Technology To Operate With No Central Authority
- Mentor-to-mentee
- Peer-to-peer
- Administrator-to-subject
- Miner-to-buyer
Answer: Peer-to-peer
VERSION-1
2. Bitcoin Transactions Are All Of These Except?
- Permissionless
- Anonymous
- Private
- Reversible
Answer: Reversible
VERSION-2
2. What Did Satoshi Nakomoto Hard Code Into The Genesis Block?
- Money Is Only A Tool. It Will Take You Wherever You Wish, But It Will Not Replace You As The Driver.
- Men Make Counterfeit Money; In Many More Cases, Money Makes Counterfeit Men.
- A Wise Man Should Have Money In His Head, But Not In His Heart.
- The Times 03/JAN/2009 Chancellor On Brink Of Second Bailout For Banks.
Answer: The Times 03/JAN/2009 Chancellor On Brink Of Second Bailout For Banks.
3. Which Of These Describes A Dead Bitcoin?
- A Bitcoin That Has Been Hacked And Stolen.
- A Bitcoin That Has Been Used In An Illegal Transaction.
- A Bitcoin Which Can No Longer Be Accessed.
- A Bitcoin Which Has Corrupted And Lost Its Value.
Answer: A Bitcoin Which Can No Longer Be Accessed.
4. What Was Silk Road?
- A Piece Of Code That Is Apart Of The Blockchain Technology.
- A Bitcoin Wallet Used To Store Bitcoins Offline.
- A Reddit Group Dedicated Ton Bitcoin Technology.
- An Online Marketplace Where Illegal Goods Were Purchased With Bitcoin.
Answer: An Online Marketplace Where Illegal Goods Were Purchased With Bitcoin.
VERSION-1
5. What Was The Starting Price For One Bitcoin In 2009?
- $.005
- $.03
- $.0001
- $.015
Answer: $.0001
VERSION-2
5. What Is A Private Key In Bitcoin?
- A Point On The Elliptic Curve
- The Password Generated From The Public Key Through Modular Arithmetic And Sha-256
- A Mode Of Turning Off Your Wallet So No One Can See Your Transaction History
- A Multiplier Of The Generator Point On The Elliptic Curve
Answer: The Password Generated From The Public Key Through Modular Arithmetic And Sha-256
6. When Do Bitcoin Block Rewards Change For Miners?
- After 300,000 Blocks
- After 430,000 Blocks
- After 210,000 Blocks
- After 180,000 Blocks
Answer: After 210,000 Blocks
VERSION-1
7. What Is The Current Block Reward For Miners?
- 12.5 Btc
- 25 Btc
- 6.25 Btc
- 3.125 Btc
Answer: 6.25 Btc
VERSION-2
7. Where Is Bitcoin Illegal?
- Ecuador
- Canada
- Spain
- Australia
Answer: Ecuador
8. What Is The Smallest Unit Of Bitcoin Called?
- Satoshi
- Millibit
- Fillmore
- Finney
Answer: Satoshi
9. Which One Of These Years Was The Least Volatile For Bitcoin?
- 2010
- 2012
- 2015
- 2016
Answer: 2016
VERSION-1
10. What Is The Largest Amount Of Bitcoins To Ever Be Produced?
- 132 Million
- 184 Billion
- 21 Million
- 32 Billion
Answer: 184 Billion
VERSION-2
10. What Does Satoshi Nakomoto Loosely Translate To?
- Wise Future Thought
- Inside Teacher Origin
- Balanced Inside Origin
- Wise Inside Foundation
Answer: Wise Future Thought
11. Which One Of These Bitcoin Hacks Lead To The Largest Loss So Far?
- Bitfinex Hack
- Mt. Gox Collapse
- Coincheck Hack
- Govex Collapse
Answer: Mt. Gox Collapse
12. Which Performer Was The First To Start Accepting The Digital Currency For Their Records?
- 50 Cent
- Childish Gambino
- Jamie Foxx
- Dj Khaled
Answer: 50 Cent
13. Which Of These Features Is Present In Bitcoin?
- Smart Contracts
- Turing Completeness
- Delegated Proof-of-stake
- Automated Security
Answer: Smart Contracts
14. What Are Bitcoin Futures?
- Price Prediction Horoscopes For Bitcoin
- A Financial Instrument Giving You The Right To Always Buy Bitcoin At A Cheaper Price
- A Financial Instrument Giving You The Right To Buy A Quantity Of Bitcoin At A Set Price At A Given Future Date
- A Financial Instrument Giving You The Right To Buy A Quantity Of Bitcoin At A Set Price At A Given Date That Is At Least One Year In The Future
Answer: A Financial Instrument Giving You The Right To Buy A Quantity Of Bitcoin At A Set Price At A Given Future Date
15. What Is Included In A Block Hash?
- All The Transactions Combined End To End Separated By Commas
- The Timestamp When All The Miners Started Working On The Block
- The Next Block Hash In The Blockchain
- The Nonce Used To Achieve The Difficulty Required
Answer: The Nonce Used To Achieve The Difficulty Required
16. What Is A Payment Distribution Method For A Mining Pool?
- Estimated Moving Average
- Pay Per Last N Shares
- Triple Geometric Method
- Fibonacci Selection
Answer: Pay Per Last N Shares
17. What Is A Nonce?
- The Transaction Id Number
- A Miners Asic Chip Array
- The Generator Point Used In Elliptic Curve Cryptography
- The Number Of Miners Run Through To Generate A Correct Hash
Answer: The Number Of Miners Run Through To Generate A Correct Hash
18. What Is The History Of Bitcoin Mining In Terms Of Hardware Use Chronologically
- CPU – GPU – FPGA – ASIC
- GPU – CPU – FPGA – ASIC
- GPU – CPU – ASIC – FPG
- AASIC – FPGA – CPU- GPU
Answer: CPU – GPU – FPGA – ASIC
19. What Is A Gh/s?
- 1000 Hashes Per Second
- 1,000,000 Hashes Per Second
- 1,000,000,000 Hashes Per Second
- 1,000,000,000,000 Hashes Per Second
Answer: 1,000,000,000 Hashes Per Second
20. What Is A Bloom Filter?
- A Way Of Lowering The Amount Of Data Mobile Wallets Need To Stay Up To Date
- A Micro Transaction Service For Music Streaming Using Bitcoin
- A Way Of Sending Bitcoins And Verifying The Address Through Proof Of Address Certificates
- A Full Bitcoin Node Verifying Incoming Transactions
Answer: A Way Of Lowering The Amount Of Data Mobile Wallets Need To Stay Up To Date
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