stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Duplicate of Bitcoin (Crypto) Flashcards | StudBud
Explore
/
Duplicate of Bitcoin (Crypto)
Duplicate of Bitcoin (Crypto)
12 terms
·
StudBud Administration
A quiz to help with learning about the basics of #bitcoin and the related #economics
Flashcards
12 cards
F
Practice quiz
P
Host live
L
Questions
12
Answers
1
What is Bitcoin?
A cryptocurrency
A traditional currency
It is a made-up concept
A coin used for vending machines
2
Which cryptocurrency is currently valued the highest?
XRP
Ethereum
Bitcoin
Bitcoin cash
3
Is buying bitcoin an investment?
Yes
No
4
What is the market cap of bitcoin?
21 million
An unlimited amount
17 million
20 million
5
Why does bitcoin have value?
There is a limited supply
The paper it is printed on has intrinsic value
It is usable to purchase things
People believe it to have value
6
How is bitcoin discovered/acquired?
Mining it yourself
Buying it using traditional currencies
Solving complex mathematical problems
Paying someone else to mine it for you
7
How can you store bitcoin?
Using dedicated software or hardware
In a bank
In your pocket
In a paper wallet
8
What are the risks of bitcoin?
Losing it
There are none
Chances for steep value decline
Hacking
9
What is the history of all bitcoin transactions (within a certain range) called?
Block
Record Chain
Cryptochain
Blockchain
10
Approximate the circulating supply of bitcoin in the world economy?
21 million
17 million
An unlimited supply
17
11
What is the approximate current value of bitcoin?
$120000
$10000
$100000
$35000
12
How is bitcoin secured and verified?
Banks
Cryptography
Trade Exchanges
Advanced Mathematics
