Test Yourself: Are You the Ultimate Bitcoin Expert?

Welcome to The Ultimate Bitcoin Expert Quiz.

Current question count: 51

Questions for this quiz have been provided by members of the Bitcoin community. The questions are presented in an ascending difficulty order.

If you wish to add your own question please fill out the form below or add a comment.

Good luck!

Who invented Bitcoin?
Who invented Bitcoin?
Correct!
Wrong!

What is novel about Bitcoin?
What is novel about Bitcoin?
Correct!
Wrong!

What is decentralization?
What is decentralization?
Correct!
Wrong!

Why is Bitcoin considered to be an alternative to modern economics?
Why is Bitcoin considered to be an alternative to modern economics?
Correct!
Wrong!

What is the Blockchain?
What is the Blockchain?
Correct!
Wrong!

What is a Bitcoin wallet?
What is a Bitcoin wallet?
Correct!
Wrong!

What is a Bitcoin exchange?
What is a Bitcoin exchange?
Correct!
Wrong!

Who buys and sells on exchanges?
Who buys and sells on exchanges?
Correct!
Wrong!

How are bitcoins created?
How are bitcoins created?
Correct!
Wrong!

What is the Bitcoin whitepaper?
What is the Bitcoin whitepaper?
Correct!
Wrong!

What is unique about the Blockchain technology?
What is unique about the Blockchain technology?
Correct!
Wrong!

What are Bitcoin miners responsible for?
What are Bitcoin miners responsible for?
Correct!
Wrong!

What is a hosted wallet?
What is a hosted wallet?
Correct!
Wrong!

Why are hosted wallets less recommended than regular wallets?
Why are hosted wallets less recommended than regular wallets?
Correct!
Wrong!

How does an exchange work?
How does an exchange work?
Correct!
Wrong!

How is the price (a.k.a. the “exchange rate”) of Bitcoin determined?
How is the price (a.k.a. the “exchange rate”) of Bitcoin determined?
Correct!
Wrong!

What is trade volume?
What is trade volume?
Correct!
Wrong!

When was the Bitcoin whitepaper published?
When was the Bitcoin whitepaper published?
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Wrong!

Is Bitcoin the first attempt at making a decentralized and trustless form of digital money?
Is Bitcoin the first attempt at making a decentralized and trustless form of digital money?
Correct!
Wrong!

When was the first block of the Blockchain mined?
When was the first block of the Blockchain mined?
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Wrong!

What is Proof of Work?
What is Proof of Work?
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Wrong!

Why is Proof of Work important in Bitcoin?
Why is Proof of Work important in Bitcoin?
Correct!
Wrong!

How are miners rewarded by the Bitcoin system?
How are miners rewarded by the Bitcoin system?
Correct!
Wrong!

How are fees used in Bitcoin?
How are fees used in Bitcoin?
Correct!
Wrong!

How many coins are rewarded to miners by the system?
How many coins are rewarded to miners by the system?
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Wrong!

What influence do miners have on the Bitcoin system?
What influence do miners have on the Bitcoin system?
Correct!
Wrong!

What is a Bitcoin block?
What is a Bitcoin block?
Correct!
Wrong!

What are Bitcoin confirmations?
What are Bitcoin confirmations?
Correct!
Wrong!

What is a full node?
What is a full node?
Correct!
Wrong!

What is cold storage?
What is cold storage?
Correct!
Wrong!

What is the “difficulty target” in Bitcoin?
What is the “difficulty target” in Bitcoin?
Correct!
Wrong!

How is the difficulty target determined?
How is the difficulty target determined?
Correct!
Wrong!

What is an SPV wallet?
What is an SPV wallet?
Correct!
Wrong!

What is multisig?
What is multisig?
Correct!
Wrong!

How does multisig work?
How does multisig work?
Correct!
Wrong!

What is the “double spend”?
What is the “double spend”?
Correct!
Wrong!

What is a public-private keypair?
What is a public-private keypair?
Correct!
Wrong!

How are public keys used in Bitcoin?
How are public keys used in Bitcoin?
Correct!
Wrong!

How are private keys used in Bitcoin?
How are private keys used in Bitcoin?
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Wrong!

Which of the following transactions would likely require the least fees?
Which of the following transactions would likely require the least fees?
Correct!
Wrong!

Technically speaking, the Blockchain technology is ____?
Technically speaking, the Blockchain technology is ____?
Correct!
Wrong!

How are transactions validated by the network?
How are transactions validated by the network?
Correct!
Wrong!

What are inputs of a Bitcoin transaction?
What are inputs of a Bitcoin transaction?
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Wrong!

What are outputs of a Bitcoin transaction?
What are outputs of a Bitcoin transaction?
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Wrong!

What kind of cryptographic signatures does the Bitcoin protocol use?
What kind of cryptographic signatures does the Bitcoin protocol use?
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Wrong!

What is a hash?
What is a hash?
Correct!
Wrong!

What is a merkle tree?
What is a merkle tree?
Correct!
Wrong!

How does a mining pool’s hashrate predict mining revenue?
How does a mining pool’s hashrate predict mining revenue?
Correct!
Wrong!

How does fee-less pool mining affect mining revenue, compared to solo mining?
How does fee-less pool mining affect mining revenue, compared to solo mining?
Correct!
Wrong!

How would lower block times (<10 minutes) affect the Blockchain?
How would lower block times (<10 minutes) affect the Blockchain?
Correct!
Wrong!

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