Bitcoin Quiz Answers Be Quizzed

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

WE HOPE YOU GOT ALL CORRECT ANSWERS

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