FlexiQuiz - BRH LVL 1 - Bitcoin Fundamental

Which of those characteristics are needed to be money? (Select all that apply)

Backed by a government

Store of value

Equal for everyone

Unit of account

Medium of exchange

Which of the following resources have been used as money ? (Select all that apply)

Shells

Simple entry on a digital leader inside a bank

Rocks

Gold

What conclusion could be made from the 2008 financial crisis? (Select all that apply)

Big banks are too big to fail.

Our economy is very centralized and we can't let the zombie company die.

The 2008 crisis was one in a century crisis and the core issue was solved.

Well-managed banks have enough capital to survive without the help of a central bank.

The banking system is well regulated and any future crisis can be anticipated.

Why did Satoshi decided to stay anonymous ? (Select all that apply)

To do a face reveal 8 years later on TV & fork the project twice under 1 year.

To decentralize the project.

To protect his life

To sell his bitcoins anonymously in the black market.

What did Satoshi include on the first block of the Bitcoin protocol? (Select all that apply)

Nothing

The original Bitcoin whitepaper

The Times's article of the day titled- "Chancellor on brink of second bailout for banks"

A message which will be unlocked once the last Bitcoin is mined on February 23, 2136

Is our current financial system centralized ?

Yes, a group of politicians & bankers control everything

No, a free market for banks and financial institutions make it decentralized.

What fundamental problem of computer science does Bitcoin solve and what is that problem ?

Could it be possible to know the inflation rate of Bitcoin in 57 years ?

No, no one can know the future for sure.

Yes, at the exact decimal.

What is the average time between each new block? (Select all that apply)

5 min

15 min

20 Min

10 min

Who create the next block ? (Select all that apply)

A miner

The last person to write down a transaction within this block (aka when the block gets full)

A node

The Bitcoin core Develloper once the block is full.

What happened to lost bitcoins ? (Select all that apply)

They will be reintroduced into the system once the last bitcoin is mined.

The owner can ask the miner to mine them again if they provide a supreme court order.

They are lost forever.

They will reduce the current supply making everyone else coin more scarce..

Who is the only owner of a Bitcoin ?

The owner of the custodial contract

The miner who originally mined it.

The owner of the private key

No one, since the network is decentralized, no one owns any coin.

Who controls Bitcoin ? (Select all that apply)

No one

The miners

The nodes

The Core developer

The regulation agency

The military

The user

Could the US government make a deal with China to shut down Bitcoin ?

Yes, but they will fail

Yes, and they can succeed

Which of those are scaling solution for Bitcoin future growth ? (Select all that apply)

Private blockchain

Wardiz

Lightning Network

ICO

Sidechain

2 transactions were broadcast at the same time: 5 Bitcoin from Paris to London & 5792 Bitcoin from Tokyo to NY. Who will receive his Bitcoin first ? Why?

Tokyo - Brasilia

Paris - London

we can't answer this question

Which of the following could be considered sound money ?

Physical Gold

US dollars

Euro

Bitcoin

Petroleum

What are some of the attributes of sound money ?

Hard to counterfeit

Scarce

controlled and regulated by a central bank

Backed by a strong entity ( Government)

Fungible

What is inflation ?

A hiding tax that slowly depreciates the value of a fiat currency over decades.

The slow increase in asset price over time due to the constant increase in monetary supply of fiat money

A tool used by central banks to regulate and manipulate the financial system.

All of the above

Which of those countries have faced hyperinflation ?

France

Venezuela

Germany

Chile

Canada

During the German hyperinflation of 1923, it was cheaper to burn money than wood.

True

False

You must escape your country due to political, war, climate (etc) reasons. You own some Bitcoin and wish to move them with you. Which of the following methods could be used?

Sending the private key by mail to your future location

Memorizing the private key

Hiding a copy of your private key within your language (?)

Taking your Hardwear wallet with you

Take a photo of your private key and email it to yourself for future use.

Which of the following can't be seized ?

Your Bitcoin stored in a wallet you've memorized the private key.

Your Bitcoin stored in a secured custodial services.

Your bank account

The cash under your mattress

Your friend is setting up its first Bitcoin wallet. When it's created, he is asked to enter his name & email address. Since you know about Bitcoin, he asks you if that's normal. What is your answer?

What happens to your Bitcoins holding if your bank goes bankrupt ?

It will depend on your local government's law

Nothing

You lost them, the bank won't have the money to give you back your bitcoins.

They will be seized by the local authority and given back to your once the bankruptcy process is over.

BRH LVL 1 - Bitcoin Fundamental

Good luck !

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