CryptoCoin Beginner

How does the Bitcoin Protocol Work?

Skynet

It is centralised

It is de-centralised

It is owned by the Bitcoin Foundation

What is a Paper Wallet?

A way of making Bitcoin intangible

A false wallet used in the Mt Gox scandal

A piece of paper with your secret/private key on it

A one time use wallet

What is a blockchain?

A distributed ledger on a peer to peer network

A type of cryptocurrency

A centralized ledger

An exchange

What technology is Bitcoin built on?

The Blockchain

The famous Volkswagon Eco engine

Telepathy

Javascript

How do Bitcoin Miners make money?

The block reward only

Through transaction fees and the block reward

They go to work at the local mine

Transaction fees only

What is Hashing?

A way of selling drugs on the darknet

A one way conversion of a string to another string

Donald Trumps's mental process

Coding in Bitcoin using C#

Where can you buy cryptocurrency?

A bitcoin ATM

All of the above

A private transaction

An exchange

Who created Bitcoin?

Samsung

John Mcafee

Satoshi Nakamoto

China

What can't you pay for with Bitcoin?

Property

You can buy almost anything

University Fees

Other Crypto Currencies or Assets

Which Exchange filed for Bankruptcy in February 2014?

Bitcoin Bible

Bitcoin Global Exchange

Mt Gox

Coin'o'mart

What are the different types of tokens?

All of the above

Currency

Platform

Privacy

What does P2P stand for?

Private Key to Public Key

Password to Password

Product to Product

Peer to Peer

What is a node?

A type of cryptocurrency

A blockchain

A computer on a blockchain network

An exchange

How many Bitcoins will there ever be?

50 million

10 million

21 million

14 million

What is a Bitcoin Hardware Wallet?

A dedicated piece of hardware with high levels of security for storing your Bitcoins

A wallet on your mobile phone

A bearer certificate that you have in your possession

A household safe with Bitcoins in it that cannot be broken into

What is a miner?

A type of blockchain

An algorithm that predicts the next part of the chain

Computers that validate and process blockchain transactions

A person doing calculations to verify a transaction

Where is the LEAST SAFE place to keep your cryptocurrency?

On an exchange

In your pocket

On a hot wallet

At your work desk

How do you create Bitcoin?

You ask for it

You make it

You dig it!

You mine it

Which is NOT apart of asymmetric encryption?

Mining

Private Key

Public key

Passphrase

Which is the most popular Crypto Currency?

Litecoin

Bitcoin

Dogecoin

Dash

How often does the Bitcoin block reward halve?

Every 6 months or 25,000 blocks

It doesn't

2 Years or 100,000 blocks

Every 210,000 blocks or every four years

Where do you store your cryptocurrency?

Wallet

Bank account

Floppy Disk

In your pocket