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Bitcoin Quiz Answers Bitcoin Decrypted – Bequizzed 100% Score
Question 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
Question 2. BITCOIN TRANSACTIONS ARE ALL OF THESE EXCEPT?
- Permissionless
- Anonymous
- Private
- Reversible
Answer: Reversible
Question 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
Question 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
Question 5. WHAT WAS THE STARTING PRICE FOR ONE BITCOIN IN 2009?
- $.005
- $.03
- $.0001
- $.015
Answer: $.0001
Question 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
Question 7. WHAT IS THE CURRENT BLOCK REWARD FOR MINERS?
- 12.5 BTC
- 25 BTC
- 6.25 BTC
- 3.125 BTC
Answer: 6.25 BTC
Question 8. WHAT IS THE SMALLEST UNIT OF BITCOIN CALLED?
- Satoshi
- Millibit
- Fillmore
- Finney
Answer: Satoshi
Question 9. WHICH ONE OF THESE YEARS WAS THE LEAST VOLATILE FOR BITCOIN?
- 2010
- 2012
- 2015
- 2016
Answer: 2016
Question 10. WHAT IS THE LARGEST AMOUNT OF BITCOINS TO EVER BE PRODUCED?
- 132 million
- 184 billion
- 21 million
- 32 billion
Answer: 184 billion
Question 11. WHICH ONE OF THESE BITCOIN HACKS LEAD TO THE LARGEST LOSS SO FAR?
- Bitfinex
- Mt. Gox Collapse
- Coincheck Hack
- Govex Collapse
Answer: Mt. Gox Collapse
Question 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
Question 13. WHICH OF THESE FEATURES IS PRESENT IN BITCOIN?
- Smart Contracts
- Turing Completeness
- Delegated Proof-of-Stake
- Automated Security
Answer: Smart Contracts
Question 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
Question 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
Question 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
Question 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
Question 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 – FPGA
- ASIC – FPGA – CPU – GPU
Answer: CPU – GPU – FPGA – ASIC
Question 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
Question 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
Bitcoin Quiz Answers Bitcoin Decrypted – Bequizzed 100% Score
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