FlexiQuiz - Rogzy's Quiz

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How do you define Bitcoin's success ?

Select the project Hal Finney worked on over his life. (Select all that apply)

Tor

PGP

Bitcoin

Lightning network

Running a half marathon

Which technology allows users to interact with the Bitcoin protocol without knowing it.

Lightning Network

Merkle tree

XRP

Liquid sidechain

Which of the following statement is true regarding KYC ( know your customer) ? (Select all that apply)

It is an annoying but indispensable step to destroy terrorism, money laundry and tax evasion.

It is a useful tool which uses the latest technology to ensure financial stability and control.

It is a breach of privacy for the average user.

It had been proven inefficient and only further centralize the banking monopoly.

Explain the "Cantillon effect" & provide 1 example of his effect.

Which of those entities holds the most power over the bitcoin network ?

Nodes

Miners

Wallet provides

Users

Regulation entities

Which mechanism ensure the inflation rate of the bitcoin network ? Briefly explain why.

Having your Bitcoin under custody gives the institution in charge the decicional power regarding forks, consensus changes and uses cases of your coin

True

False

Select the 2 most realistic threat to bitcoin :

51 % Attack

Global and coordinate political ban

the centralization of coin by big institutions

Failure to implement by default privacy feature

National and corporate Cryptocurrencies competing with Bitcoin.

Is it possible to implement smart contracts, oracle and video games on top of Bitcoin ?

No, Bitcoin is too slow

Yes, but only using bitcoin upper layers

Yes, we can build anything on the base layer.

No, it would use too much electricity.

Bitcoin uses electricity to secure the network. What is the preferred sources of energy used by miners?

Nuclear power plants

Coal

Renewable energy (solar, wind )

Wasted energy that would otherwise not be used.

Thanks for taking my quiz, please recommend me one book that you love :) I would recommend you The Robot & Foundation by Asimov.

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