FlexiQuiz - BRH LVL1.2 - Why Bitcoin Matters ?

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Which of the following could be considered sound money ? (Select all that apply)

Bitcoin

Euro

Physical Gold

US dollars

Petroleum

What is a Fiat money ?

Why is Bitcoin is political and non-political at the same time ?

What are some of the attributes of sound money ? (Select all that apply)

controlled and regulated by a central bank

Fungible

Scares

Hard to counterfeit

Backed by a strong entity ( Government)

What is inflation ?

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

All of the above

A hiding tax that slowing depreciate 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

Explain why Bitcoin is considered a solution to inflation and fiat currency ?

Which of those countries have faced hyperinflation ? (Select all that apply)

Germany

Chile

Venezuela

Canada

France

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

False

True

Which of the following is true ?

Bitcoin is anonymous.

Bitcoin is pseudonymous.

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

Taking your Hardwear wallet with you

Sending the private key by mail to your future location

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

Memorizing the private key

Hiding a copy of your private key within your language

Which of the following can't be seized.

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

The cash under your mattress

Your bank account

Your Bitcoin stored in a secured custodial services.

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

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

Nothing

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

It will depend on your local government law

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

Why Bitcoin matter ?

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BRH LVL1.2 - Why Bitcoin Matters ?

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