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Bitcoin (Crypto) Flashcards | StudBud
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Bitcoin (Crypto)
Bitcoin (Crypto)
13 terms
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StudBud Administration
A quiz to help with learning about the basics of #bitcoin and the related #economics
Flashcards
13 cards
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Practice quiz
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Questions
13
Answers
1
Is buying bitcoin an investment?
Yes
No
2
Approximate the circulating supply of bitcoin in the world economy?
An unlimited supply
21 million
17 million
17
3
How is bitcoin secured and verified?
Banks
Cryptography
Advanced Mathematics
Trade Exchanges
4
What is the approximate current value of bitcoin?
40000
$400
$10000
$20000
5
How can you store bitcoin?
In a paper wallet
In a bank
Using dedicated software or hardware
In your pocket
6
What are the risks of bitcoin?
Hacking
Losing it
Chances for steep value decline
There are none
7
Why does bitcoin have value?
The paper it is printed on has intrinsic value
People believe it to have value
It is usable to purchase things
There is a limited supply
8
What was the approximate value of bitcoin one year ago?
95
20000
900
9500
9
What is Bitcoin?
A traditional currency
A coin used for vending machines
It is a made-up concept
A cryptocurrency
10
What is the history of all bitcoin transactions (within a certain range) called?
Block
Cryptochain
Record Chain
Blockchain
11
What is the market cap of bitcoin?
21 million
An unlimited amount
20 million
17 million
12
Which cryptocurrency is currently valued the highest?
Bitcoin
Ethereum
Bitcoin cash
XRP
13
How is bitcoin discovered/acquired?
Buying it using traditional currencies
Solving complex mathematical problems
Paying someone else to mine it for you
Mining it yourself
