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1 of 11
In order to operate without the need for central authority, which type of network is Bitcoin based on?
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Miner-to-Owner
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Peer-to-Peer
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Creator-to-Buyer
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2 of 11
Which of the following is NOT a feature of a Bitcoin transaction?
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Reversible
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Private
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Permissionless
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3 of 11
What is the name of the process in creating new Bitcoins?
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Forging
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Shaping
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Mining
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4 of 11
Which cryptography algorithm is used for hasting new blocks and running the network to create Bitcoins?
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THX1138
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PLA196
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SHA256
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5 of 11
What is the estimated year when the last Bitcoin will be mined?
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2040
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2140
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2400
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6 of 11
Which of the following electronic devices do you need to mine Bitcoin?
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An ASIC Chip
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A GPU
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A central processing unit
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7 of 11
Where is the most common place to purchase Bitcoin?
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Cryptocurrency exchanges
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Big banks
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Bitcoin miners
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8 of 11
What is the difference between a cold wallet and a hot wallet for storing Bitcoin?
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A hot wallet is connected with the Internet, while a cold wallet is not
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A cold wallet is more prone to attack than a hot wallet
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A hot wallet is hardware, while a cold wallet is a software
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9 of 11
What is a Bitcoin halving?
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An event that reduces Bitcoin price
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An event that reduces rewards for mining Bitcoin
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A event that divides Bitcoin into the two different coins
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10 of 11
On May 22, 2010, an American programmer named Laszlo Hanyecz made the first commercial Bitcoin transaction by paying 10,000 BTC for what?
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A laptop
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A house
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A pizza
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11 of 11
Which cryptocurrency term refers to entities or individuals that hold large amounts of Bitcoin?
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A bull
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A whale
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A phoenix
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Bitcoin Quiz 2
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