FlexiQuiz - The Bitcoin Audible Quiz !

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What does HODL stand for?

Honor Only in Decentralized Life

the Helm is Only for Determined Longs

It’s just a misspelling of “hold” by a drunk Bitcoiner

Hold On for Dear Life

What job does a Full Node perform?

Validates the entire history of Bitcoin transactions

Ensures it will only receive real Bitcoin

Checks new blocks on the network

All of the above

Is the Lightning network a custodial service?

Yes

What is a Bitcoin Hash? (Select all that apply)

The determining factor in consensus between competing histories of Bitcoin that contain valid transactions and adhere to the protocol rules

A one way math function that transforms any data into a short string that serves as its fingerprint

Data used to calculate the monetary policy

The data that Proves the Work done in mining

An excellent smoke made from the resin of the cannabis plant

A Transaction ID

Give a simple example of the Prisoner’s Dilemma in game theory.

Who benefits most from inflation of the money supply?

Those who are closest to the source of the inflation and can get the money first.

The poor, as it encourages spending and economic activity

People with lots of savings and low consumption.

The middle class because it devalues their mortgages

Explain briefly what “Not Your Keys, Not Your Coins” means?

What is a UTXO?

An address created when new bitcoins are mined

A valid balance of Bitcoin that hasn’t yet been spent

Part of the POW function

A type of signature

What is a cryptographic signature?

Account data used for sending Bitcoin to someone

A form of proof that someone has a private key, without revealing it

An invoice for a payment

A private key

If you wanted a friend to be able to send you an encrypted message that only you could read, which would you send them?

Private Key

Public key

If you give someone the “seed” for your Bitcoin wallet, what does that mean? (Check all that apply)

They can see your past transactions

They can see your balances

They have full and complete control over your coins as if they were you and can irreversibly send them to someone else or to a different wallet they own.

They can steal coins that are in your wallet

They can reverse your past Bitcoin transactions

They can man in the middle any transactions that you send

Who was the first person to receive a Bitcoin transaction?

Satoshi Nakamoto

Hal Finney

Adam Back

Lazlo Hanyecz

Nick Szabo

The first real world good ever traded for bitcoin was…

A bag of weed

A back scratcher

Alpaca socks

Pizza

For the next 3 questions: Since the last difficult adjustment, there have been 2012 blocks mined with an average time between each one at around 8 minutes…

1. How many blocks until the next difficulty adjustment?

207988

we can’t determine from the data given

2. If the time between blocks remains constant until the adjustment, the difficulty target will go

Stay the same

Down

3. If the time between blocks remains constant until the adjustment, fees will likely be

Lower than normal

We can’t determine from the data given

Higher than normal

About to increase significantly

Submit

The Bitcoin Audible Quiz !

Hey, I'm Guy Swann, the guy who has read more about Bitcoin than anyone you know ! Good luck on my quiz !

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