Bitcoin Quiz Answers - Video Quiz Hero

1. Bitcoin Uses ________ Technology To Operate With No Central Authority.

• Mentor-to-mentee
• Peer-to-peer
• Administrator-to-subject
• Miner-to-buyer

Answer: Peer-to-peer

2. Bitcoin Transactions Are All Of These Except?

• Permissionless
• Anonymous
• Private
• Reversible

Answer: Reversible

3. Which Of These Describes A Dead Bitcoin?

• A Bitcoin That Has Been Hacked And Stolen.
• A Bitcoin That Has Been Used In An Illegal Transaction.
• A Bitcoin Which Can No Longer Be Accessed.
• A Bitcoin Which Has Corrupted And Lost Its Value.

Answer: A Bitcoin Which Can No Longer Be Accessed.

4. What Was Silk Road?

• A Piece Of Code That Is Apart Of The Blockchain Technology.
• A Bitcoin Wallet Used To Store Bitcoins Offline.
• A Reddit Group Dedicated Ton Bitcoin Technology.
• An Online Marketplace Where Illegal Goods Were Purchased With Bitcoin.

Answer: An Online Marketplace Where Illegal Goods Were Purchased With Bitcoin.

5. What Was The Starting Price For One Bitcoin In 2009?

• $.005
• $.03
• $.0001
• $.015

Answer: $.0001

6. When Do Bitcoin Block Rewards Change For Miners?

• After 300,000 Blocks
• After 430,000 Blocks
• After 210,000 Blocks
• After 180,000 Blocks

Answer: After 210,000 Blocks

7. What Is The Current Block Reward For Miners?

• 12.5 Btc
• 25 Btc
• 6.25 Btc
• 3.125 Btc

Answer: 6.25 Btc

8. What Is The Smallest Unit Of Bitcoin Called?

• Satoshi
• Millibit
• Fillmore
• Finney

Answer: Satoshi

9. Which One Of These Years Was The Least Volatile For Bitcoin?

• 2010
• 2012
• 2015
• 2016

Answer: 2016

10. What Is The Largest Amount Of Bitcoins To Ever Be Produced?

• 132 Million
• 184 Billion
• 21 Million
• 32 Billion

Answer: 184 Billion

11. Which One Of These Bitcoin Hacks Lead To The Largest Loss So Far?

• Bitfinex Hack
• Mt. Gox Collapse
• Coincheck Hack
• Govex Collapse

Answer: Mt. Gox Collapse

12. Which Performer Was The First To Start Accepting The Digital Currency For Their Records?

• 50 Cent
• Childish Gambino
• Jamie Foxx
• Dj Khaled

Answer: 50 Cent

13. Which Of These Features Is Present In Bitcoin?

• Smart Contracts
• Turing Completeness
• Delegated Proof-of-stake
• Automated Security

Answer: Smart Contracts

14. What Are Bitcoin Futures?

• Price Prediction Horoscopes For Bitcoin
• A Financial Instrument Giving You The Right To Always Buy Bitcoin At A Cheaper Price
• A Financial Instrument Giving You The Right To Buy A Quantity Of Bitcoin At A Set Price At A Given Future Date
• A Financial Instrument Giving You The Right To Buy A Quantity Of Bitcoin At A Set Price At A Given Date That Is At Least One Year In The Future

Answer: A Financial Instrument Giving You The Right To Buy A Quantity Of Bitcoin At A Set Price At A Given Future Date

15. What Is Included In A Block Hash?

• All The Transactions Combined End To End Separated By Commas
• The Timestamp When All The Miners Started Working On The Block
• The Next Block Hash In The Blockchain
• The Nonce Used To Achieve The Difficulty Required

Answer: The Nonce Used To Achieve The Difficulty Required

16. What Is A Payment Distribution Method For A Mining Pool?

• Estimated Moving Average
• Pay Per Last N Shares
• Triple Geometric Method
• Fibonacci Selection

Answer: Pay Per Last N Shares

17. What Is A Nonce?

• The Transaction Id Number
• A Miners Asic Chip Array
• The Generator Point Used In Elliptic Curve Cryptography
• The Number Of Miners Run Through To Generate A Correct Hash

Answer: The Number Of Miners Run Through To Generate A Correct Hash

18. What Is The History Of Bitcoin Mining In Terms Of Hardware Use Chronologically

• CPU – GPU – FPGA – ASIC
• GPU – CPU – FPGA – ASIC
• GPU – CPU – ASIC – FPG
• AASIC – FPGA – CPU- GPU

Answer: CPU – GPU – FPGA – ASIC

19. What Is A Gh/s?

• 1000 Hashes Per Second
• 1,000,000 Hashes Per Second
• 1,000,000,000 Hashes Per Second
• 1,000,000,000,000 Hashes Per Second

Answer: 1,000,000,000 Hashes Per Second

20. What Is A Bloom Filter?

• A Way Of Lowering The Amount Of Data Mobile Wallets Need To Stay Up To Date
• A Micro Transaction Service For Music Streaming Using Bitcoin
• A Way Of Sending Bitcoins And Verifying The Address Through Proof Of Address Certificates
• A Full Bitcoin Node Verifying Incoming Transactions

Answer: A Way Of Lowering The Amount Of Data Mobile Wallets Need To Stay Up To Date.

Update Questions:

Q2.V2. WHAT DID SATOSHI NAKOMOTO HARD CODE INTO THE GENESIS BLOCK?

Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.

Men make counterfeit money; in many more cases, money makes counterfeit men.

A wise man should have money in his head, but not in his heart.

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

Answer: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

Q5.V2. WHAT IS A PRIVATE KEY IN BITCOIN?

A point on the elliptic curve

The password generated from the public key through modular arithmetic and SHA-256

A mode of turning off your wallet so no one can see your transaction history

A multiplier of the generator point on the elliptic curve

Answer: The password generated from the public key through modular arithmetic and SHA-256

Q7.V2. WHERE IS BITCOIN ILLEGAL?

Ecuador

Canada

Spain

Australia

Answer: Ecuador

Q10.V2. WHAT DOES SATOSHI NAKOMOTO LOOSELY TRANSLATE TO?

Wise Future Thought

Inside Teacher Origin

Balanced Inside Origin

Wise Inside Foundation

Answer: Wise Future Thought