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Bitcoin Quiz for Financial Advisors

Instructions: You get 10 points for every correct answer and zero points for wrong answers.

  1. What is the smallest unit of Bitcoin called, and how many of these units make up one Bitcoin?
  2. What is the total fixed supply of Bitcoin, and how is this number mathematically derived?
  3. What was the name of the cryptographic mailing list where Satoshi Nakamoto first announced Bitcoin?
  4. What is the average block time for Bitcoin, and why is it important?
  5. In 2010, a little over a year after Bitcoin launched, for the first time in history, Bitcoin was used as a medium of exchange to actually purchase goods and services. What item was purchased, and how many?
  6. What unique feature differentiates Bitcoin’s Proof-of-Work consensus mechanism from Proof-of-Stake?
  7. What’s the name of the publicly traded corporation in the US that has the largest amount of Bitcoin in its corporate treasury? Also, name its current CEO.
  8. What was the first nation-state in the world to adopt Bitcoin as legal tender in 2021? You get an extra point if you can name the president of this country.
  9. What is the primary purpose of Bitcoin’s difficulty adjustment, and how often does it occur?
  10. Bitcoin first launched in 2009. In 2013, it made global headlines protecting Bitcoin holders against government confiscation of wealth during an economic crisis. What country was undergoing a banking and economic meltdown where deposits over a certain amount were confiscated?

Here’s the link to the answers