1.)Bitcoin is …
… a digital currency backed by gold
… a digital currency issued by Satoshi Nakamoto
… a digital currency that is stored on your computer
… a digital currency based on blockchain technology
2.) The Bitcoin project is “open source”, meaning, among other things...
…that anyone can buy Bitcoin straight from the network
…that no one controls or owns the Bitcoin network
…that everyone in the Bitcoin network has to quote their source
…that anyone in the network can mine Bitcoin
3.) The Ripple network requires less energy than other networks because...
…it uses green energy to fuel the blockchain
…there are fewer nodes in the network
…it does not run on a blockchain
…global banks share the infrastructure fees of the network
4.)
Mining difficulty indicates…
… the difficulty involved in joining a mining pool
… the test all potential miners have to take before joining the Bitcoin network
… indicates how difficult it is to solve a complex cryptographic puzzle in the Bitcoin network
… the problems miners have when mining Bitcoin
5.)
An almost surefire sign that an ICO is a scam is…
… that the project uses masternodes
… that the project was not created by Satoshi Nakamoto
… that you still don’t understand a project after thorough research, there is no whitepaper available online and no trace of a team backing the project
… that the project runs on a blockchain
6.)
Coinmarketcap is a popular website for…
… mining Ethereum
… all relevant financial metrics for cryptocurrencies
… uncovering ICO scams
… exchanging fiat currencies into cryptocurrencies
7.) Double-spending is a very important issue because …
… a transaction must not happen more than once
… every transaction is added to the blockchain two times
… everyone is allowed to send two transactions
… you need to be able to send the same transaction twice
8.)
In the Bitcoin network, all transactions are verified…
…by a central authority under the pseudonym of Satoshi Nakamoto
…first by mining pools, then by other miners
…and confirmed in a process called mining
…simultaneously by all miners
9.)
Transactions processed in the Bitcoin network...
…reward miners with fiat currencies
…are the same as the mining process
…are inalterable and can never be changed
…increase with the number of miners in the network
10.) Transaction fees are necessary because …
… the Bitcoin developers’ team is paid with transaction fees
… they prevent spamming and are used to reward miners
… new Bitcoins are created using transaction fees
… Satoshi Nakamoto has to earn money somehow
11.)
The process of mining ensures that…
…only legitimate transactions are verified in the blockchain
…all cryptocurrencies are validated simultaneously
…there is a steady supply of cryptocurrencies
…all participants in the blockchain can buy Bitcoin
12.)
Cryptojackers are…
… all miners who mined Ethereum before 2015
… social media influencers in the network who promote mining pools
… criminals that mine cryptocurrency on your computer without you knowing
… central institutions issuing regulations for the Bitcoin network
13.)
Fiat money is …
… illegal in most countries
… mined in the Bitcoin network
… issued and controlled by central banks and governments
… the world’s first and oldest cryptocurrency
14.)
Pre-mined digital currencies are usually …
… mined and distributed before the official launch date of the coin
… not tradeable because it is illegal
… fiat currencies that became cryptocurrencies at a later point
… sold to the public instead of being mined
15.)
The term “market cap”…
… describes capital cities around the world with cryptocurrency markets
… describes the code of the key needed to unlock a cryptocurrency wallet
… is used to describe crypto traders wearing baseball caps while trading on the market
… is an indicator that keeps track of the market value of a cryptocurrency