Bitcoin Knowledge Quiz

Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using an assumed name.

Take this bitcoin trivia quiz now to see how well you understand bitcoin, blockchain, and cryptocurrency. If you score less than 50, please do not invest in any cryptocurrency. If you score more than 95, you'd have a huge chance of gaining a lot in this industry.

Answers available after taking the quiz! - Apr 4, 2024

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The Name Match Test

The earliest Bitcoin source code was initially released in _____.
2004
2008
2009
2011
The supply limit of Bitcoin is ______.
₿21,000,000
₿210,000,000
₿1,000,000
Unlimited
What is a Bitcoin wallet?
a software created by the Bitcoin community
a device created by the Bitcoin community
a website created by the Bitcoin community
a device or program that can receive and send Bitcoin transactions and store your private keys
Bitcoin was invented by ______.
the U.S. government and the Chinese government
Elon Musk
An anonymous person or group who took the pseudonym of Satoshi Nakamoto
researchers from MIT, Harvard and Oxford
How is the worth of a Bitcoin decided?
By an algorithm invented with Bitcoin itself.
By the supply and demand across Bitcoin exchanges and people who buy and sell Bitcoins.
By the U.S. government
By the group of people behind Satoshi Nakamoto
What looks like a Bitcoin address?
bc1qyztg7vm90mkgjn5qwr8c5tl0klw6h2eymvam58
=__====----_...--=--.._
bitcoin.com/arealme.address.btc/1999
156418741564894651654987841
What is a private key?
Your wallet password.
An alias name to your Bitcoin address.
A string of letters and numbers that lets you spend your bitcoins in a wallet.
Your username in the Bitcoin community.
What is a seed?
A sequence of words that are often easy to remember, which can regenerate your private key.
An alias name to your private key.
An alias name to your password.
A sequence of random words that are often easy to remember, generated by your private key.
The first transaction involving physical goods was paid on the 22nd May 2010, by transacting 10 000 BTC in exchange of _______.
two pizzas delivered by Papa John's
a BMW X3
a property in Florida
two pizzas delivered by Pizza Hut
What are Bitcoin transaction fees?
The reward to a miner who validates your transaction.
The fees charged by the government.
The fees charged by the Bitcoin exchange.
The fees charged by the transaction beneficiary.
What is the benefit of being Bitcoin miners?
Getting paid US Dollars from the government by mining new Bitcoins.
Getting paid when they confirm a transaction on the Bitcoin network.
Getting paid by people who donate to the Bitcoin community.
Being very popular and the possibility of having a lot of fans/followers.
How do people make more Bitcoin?
By solving extra complex math problems.
By tracking when there is demand for more Bitcoin.
By tracking the S&P 500 index in stock market.
By legal paperworks from the U.S. government
[check]Which assertions of the following Bitcoin transactions are TRUE?
You don't have to provide any legal information before making a transaction.
You have to provide your passport ID to make transactions.
All your transactions are recorded and anyone with the transaction addresses can see them.
All your transactions are recorded but only those people with your priviate key can see them.
Done! Next question.
[check]How do you buy Bitcoin? (please check all possible options)
From a friend
On a cryptocurrency exchange
On an investing app that supports buying bitcoins
From the U.S government
Done! Next question.
What is the difference between a hot wallet and a cold wallet?
A hot wallet is connected to the internet, and a code wallet is offline.
Both are connected to the internet but the hot wallet gets updates daily.
Both are connected to the internet but the hot wallet gets updates weekly.
Both are connected to the internet but the hot wallet gets updates monthly.
What makes the value of Bitcoin go up and down?
Demand
Elon Musk
Satoshi Nakamoto
Bitcoin miners
[sort]Please click from the smallest to biggest:
1 Satoshi
1 μBTC (you-bit)
1 mBTC (em-bit)
1 cBTC (bitcent)
1 BTC
Done! Next question.
___________ Satoshi = 1 Bitcoin
500,000
100,000
100,000,000
100,000,000,000
Which of the following values is the closet one to 1 BTC in Jun, 2016?
600 USD
6,000 USD
60 USD
6 USD
Which of the following values is the closet one to 1 BTC in Dec, 2017?
18,000 USD
3,000 USD
50,000 USD
6,000 USD
Which of the following values is the closet one to 1 BTC in Apr, 2021?
1,000 USD
5,000 USD
50,000 USD
100,000 USD

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