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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