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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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    • 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,

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