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In July 2017, one Bitcoin was worth $2,600 US dollars! Discover Bitcoins Today – Quiz (Part 1)

The Bitcoin currency can be exchanged for any other currency in the world (including the US Dollar, Euro and Yen); and Bitcoins can be used to buy or sell any products, and/or services in any legal commercial marketplace; and in any black market, too.

To find out more, about Bitcoins and the Bitcoin Currency Network; click let’s play below. Do enjoy the quiz; and if you wish, do leave your comments, and score afterwards. Thanks.

  • Question of

    What is the main symbol used to represent a Bitcoin?

    • CB
    • BC
    • BTC
    • CBT
  • Question of

    As at the end of 2015; how many major merchants, suppliers, shops and vendors (all over the world), were readily accepting Bitcoins, as payment?

    • 10,000 – 40,000
    • 40,000 – 70,000
    • 70,000 – 100,000
    • 100,000 – 130,000
  • Question of

    A Bitcoin (worth $2,600) is divided into various smaller amounts of units; and are used as such. What is the smallest divisible amount, or unit, of one bitcoin worth?

    • One Hundredth of a bitcoin ($26)
    • One Thousandth of a bitcoin ($2.6)
    • One Millionth of a bitcoin ($.0026)
    • One Hundred Millionth of a bitcoin ($000026)
  • Question of

    Once a Bitcoin has been used to make a payment by a buyer to a seller:

    • the money can be retrieved back by the buyer, against the seller/recipient’s wishes.
    • the money can only be retrieved back by the issuing bank or, financial house.
    • the buyer has only up to 14 days to cancel the transaction, if they need a refund.
    • the money cannot be retrieved back against the seller/recipient’s wishes.
  • Question of

    All bitcoin transactions are verified by, whom?

    • The Network Nodes
    • The Exchange Administrators
    • The Central Repository
    • The Bank Clerks
  • Question of

    The bitcoin system/network is a place in which transactions take place between users:

    • Indirectly, through a Bitcoin Exchange
    • Indirectly, through a designated intermediary agency
    • Directly, without any intermediary, or exchange, or bank
    • Indirectly, through a designated bank, or finance house
  • Question of

    As of early 2017, how many estimated unique users had a Bitcoin wallet, and were using bitcoins worldwide?

    • 200,000 to 600,000 users
    • 600,000 to 1 million users
    • 1 to 3 million users
    • 3 to 6 million users
  • Question of

    How are bitcoins produced or ‘mined’, for global circulation?

    • By going down into mines to collect them
    • By minting them in a central mint bullion house
    • By generating them through computing power in a distributed network
    • By physically designing and printing them based on the economy
  • Question of

    Bitcoin is a form of money, that is based on; which of the following?

    • Internet
    • Mathematics
    • Gold
    • Silver
  • Question of

    Who was the person to propose and create the Bitcoins currency?

    • Larry Page
    • Bill Gates
    • Satoshi Nakamoto
    • Steve Jobs
  • Question of

    The Bitcoin Currency Network is designed to have a maximum number of coins. What is the maximum number of Bitcoins that can ever be created?

    • 21 million Bitcoins
    • 121 million Bitcoins
    • 1.21 billion Bitcoins
    • 12.1 billion Bitcoins
  • Question of

    Who controls the Bitcoin currency network?

    • No-one. No single institution controls the bitcoin network.
    • Designated Banks control the bitcoin network.
    • Central Banks control the bitcoin network.
    • The World Bank and the IMF control the bitcoin network.


What do you think?

12 Points

Written by Daniel Obiago


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    • Good score! This is a good time to join the debate on Bitcoins, as there are some many surprises currently taking place with Bitcoins at the moment. For more info, check out my second quiz on bitcoins, which is out now! Cheers.

    • Quite right! The volatility of the bitcoin is very high and impossibly breathtaking! Buying now at well over $2,300 may be too high; as it has come a long way from the 2011 lows of $3 to $30. But some experts believe that it is still underpriced! More to come on Bitcoin’s Volatility,