cryptocurrency quiz 9

  1. Ethereum is the world's second largest cryptocurrency.
  2. True
  3. The cryptocurrency world even has its own holidays – Bitcoin pizza day, celebrated each year on May 22, being the most famous example. What important event took place on May 22, 2010?
  4. A pizzeria became the first ever company to start accepting Bitcoin as payment
    The first documented purchase of goods with Bitcoin
    World’s largest pizza was made and sold for Bitcoin in Italy
  5. Blockchain could have potential applications far beyond cryptocurrency.
  6. True
  7. Which of these US states introduced the BitLicense regulation for cryptocurrency companies?
  8. California
    New York
  9. The basic trade-off for investors of buying into an ICO is:
  10. Whether to buy a Model S or Model X Tesla with their profits
    The chance to make a lot of money versus the chance of losing all their invested money
    Whether to diversify among different ICOs or make a concentrated bet on just one
  11. Moving on to the darker pages of Bitcoin’s history, its ecosystem has suffered many losses due to security breaches over the years. Which of these constituted the largest loss so far?
  12. Bitfinex hack
    Coincheck hack
    Mt.Gox collapse
  13. Currencies are usually divisible into smaller units for ease of use. Everyone knows the smallest monetary unit of the U.S. is a cent. What is the smallest unit of Bitcoin called?
  14. Millibit
  15. Bitcoin is completely private and anonymous.
  16. True
  17. Ethereum is different from Bitcoin because
  18. It is not decentralized
    It hosts decentralized applications and smart contracts
    It is not based on blockchain technology
  19. ICOs can be great deals for the companies that use them because:
  20. The federal government regulates them heavily
    Companies generally don't have to give up any ownership or control
    They come with a free tote bag
  21. Because Bitcoin is a digital-only cryptocurrency, you can’t use it to buy goods or services with any traditional businesses.
  22. True
  23. How is the price of Bitcoin determined?
  24. It’s matched to the price of a gold
    Bitcoin developers control the price
    Based on its supply and market demand across a number of exchanges
  25. Cryptocurrencies are built on decentralized networks and based on blockchain technology.
  26. False
  27. When categorising cryptocurrencies, Bitcoin, Litecoin and Digibyte are all types of payment coins.
  28. True
  29. Cryptocurrencies are famous for their volatility, and the largest one is no exception. But which year was the LEAST volatile period in Bitcoin’s history so far?
  30. 2010