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Bitcoin (Crypto) Flashcards | StudBud
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Bitcoin (Crypto)
Bitcoin (Crypto)
12 terms
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StudBud Administration
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A quiz to help with learning about the basics of #bitcoin and the related #economics
Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
Approximate the circulating supply of bitcoin in the world economy?
An unlimited supply
17 million
17
21 million
2
How can you store bitcoin?
Using dedicated software or hardware
In a paper wallet
In your pocket
In a bank
3
Is buying bitcoin an investment?
Yes
No
4
What is the approximate current value of bitcoin?
$10000
$20000
$3500
$35
5
Which cryptocurrency is currently valued the highest?
Bitcoin cash
XRP
Bitcoin
Ethereum
6
How is bitcoin discovered/acquired?
Mining it yourself
Buying it using traditional currencies
Paying someone else to mine it for you
Solving complex mathematical problems
7
Why does bitcoin have value?
It is usable to purchase things
People believe it to have value
There is a limited supply
The paper it is printed on has intrinsic value
8
How is bitcoin secured and verified?
Cryptography
Advanced Mathematics
Trade Exchanges
Banks
9
What is the market cap of bitcoin?
17 million
20 million
An unlimited amount
21 million
10
What are the risks of bitcoin?
There are none
Hacking
Losing it
Chances for steep value decline
11
What is the history of all bitcoin transactions (within a certain range) called?
Record Chain
Block
Cryptochain
Blockchain
12
What is Bitcoin?
A coin used for vending machines
A cryptocurrency
It is a made-up concept
A traditional currency
