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Bitcoin (Crypto) Flashcards | StudBud
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Bitcoin (Crypto)
Bitcoin (Crypto)
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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
13 cards
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Practice quiz
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Questions
13
Answers
1
What are the risks of bitcoin?
Losing it
There are none
Chances for steep value decline
Hacking
2
What is the history of all bitcoin transactions (within a certain range) called?
Record Chain
Block
Blockchain
Cryptochain
3
Why does bitcoin have value?
There is a limited supply
The paper it is printed on has intrinsic value
People believe it to have value
It is usable to purchase things
4
How is bitcoin secured and verified?
Trade Exchanges
Advanced Mathematics
Cryptography
Banks
5
Is buying bitcoin an investment?
No
Yes
6
What is the market cap of bitcoin?
17 million
20 million
An unlimited amount
21 million
7
What is Bitcoin?
A coin used for vending machines
It is a made-up concept
A cryptocurrency
A traditional currency
8
Which is
not
a way to store bitcoin?
In a flash disk
Using dedicated software or hardware
In a bank
In a paper wallet
9
What is the approximate circulating supply of bitcoin in the world economy?
21 million
17
17 million
An unlimited supply
10
How is bitcoin discovered/acquired?
Solving complex mathematical problems
Mining it yourself
Paying someone else to mine it for you
Buying it using traditional currencies
11
Bitcoin can be kept in
Hardware wallet.
Software wallet.
App wallet.
All of them.
12
Which cryptocurrency is currently valued the highest?
XRP
Bitcoin
Ethereum
Bitcoin cash
13
What is the approximate current value of bitcoin (as of September 2023)?
$7400
$15000
$3500
$26000
