Twenty Questions to Test Your Bitcoin Knowledge. Beginner Level.

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Twenty Questions to Test Your Bitcoin Knowledge. Beginner Level.

Do you consider yourself as a person with great Bitcoin Knowledge? Or do you feel you are just about there but you aren’t confident yet?

If the answer to both the questions is a ‘yes’, well then feel free to take up this interesting quiz by Bitcoin Magazine. This quiz will not only tell you how good your Bitcoin knowledge is, but it will also let you learn a lot in the process.

There are basically 4 levels of Bitcoin knowledge –

  • Level 0 – ‘Newbie’: There has to be an initial step at all times, hence welcome, and congratulations for taking your first step.
  • Level 1 – ‘Beginner’: You are termed as a beginner if you get a score of 90%. But no, you aren’t that great at it, there’s plenty more to learn, so move on.
  • Level 2 – ‘Intermediate’: Same 90% pass rule. With this title, you are close to investing in bitcoin.
  • Level 3 – ‘Expert’: Same 90% pass rule. Once you pass, you sure know your stuff, but don’t keep it to yourself, make sure to spread the knowledge!

Note that this is a test for the ‘Beginner’s level’, once you qualify with 90%, i.e. 18 correct answers, you could take up the quizzes for the other levels.
Also, it would be good for you if you take up the quiz in a fair manner. If you feel, you are not sure about the answers, then you could surely use the internet. But don’t just look for the answer, make sure to learn everything from that page, this way you can gain better knowledge about Bitcoin. And once you’ve visited the internet, close all other sites and take the test once again in order to get a 90% score.

The Twenty Questions which can Qualify you as an Official Beginner:-

  1. Who created Bitcoin?
  • a) Notosohi Sakamoto
  • b) Gavin Andresen
  • c) Satoshi Nakamoto
  • d) Dorian Nakamoto
  • e) Paul Krugman
  1. What is the name of the first academic paper that described bitcoin commonly referred to as?
  • a) The Bitcoin Whitepaper
  • b) The Origins of Money
  • c) The Great Unravelling
  • d) Fifty Shades of Grey
  • e) The Bitcoin Constitution
  1. What is the name of the bitcoin exchange from Japan that famously collapsed in 2014?
  • a) Tradehill
  • b) Bitstamp
  • c) Mt. Gox
  • d)
  • e) Dow Jones
  1. How many bitcoin will ever be created?
  • a) Unlimited
  • b) 77,340,109
  • c) 21 million but can be adjusted by the Bitcoin Foundation by majority vote.
  • d) 21,000,000
  • e) The Square root of 2^2
  1. Name two countries that have banned their banks from servicing bitcoin companies.
  • a) USA
  • b) China
  • c) Germany
  • d) Russia
  • e) Cayman Islands
  1. Which of the following alt coins is NOT really the name of an alt coin?
  • a) Pandacoin
  • b) CryptoMETH
  • c) Bottlecaps
  • d) HoboNickles
  • e) Dollarcoin
  1. Which of the following statements are NO True about what bitcoin wallets?
  • a) The digital container file that stores bitcoin.
  • b) The general ledger location that stores your personal private identification.
  • c) An email account backup for bitcoin password file.
  • d) A piece of paper you’ve written your bitcoin address and private key password.
  • e) A computer program on your local pc or cellphone.
  1. What is the name of the general ledger that tracks all bitcoin transactions?
  • a) The Gox-Chain
  • b) The Block-link
  • c) The Block-chain
  • d) Ledger-Link
  • e) Satoshi-square
  1. How many major bitcoin price bubbles have there been?
  • a) Three
  • b) Six
  • c) One
  • d) None
  • e) 13.5
  1. How often does the bitcoin ledger reconcile?
  • a) Every three months, quarterly
  • b) Every day
  • c) Every three minutes
  • d) Every ten minutes
  • e) It can vary depending on the Bitcoin Foundation’s recommendation
  1. Where is the bitcoin central server located?
  • a) Washington DC. USA
  • b) London, England
  • c) Undisclosed location
  • d) The United Nations vote on location every two years
  • e) None of the above
  1. How many new bitcoins are created each day?
  • a) 2,200 except for February 29 on leap years
  • b) 3,600
  • c) 5,000
  • d) 7,200
  • e) 150
  1. What month\year did the bitcoin network start?
  • a) November 2008
  • b) May 2010
  • c) January 2009
  • d) September 12, 2001
  • e) April 2013
  1. The computers that process transactions for the bitcoin network are commonly called:
  • a) Truckers
  • b) Linesman
  • c) GPU
  • d) Miners
  • e) Bitcoin Foundation member units
  1. An illegal underground market that sold drugs and other products for bitcoin was shut down by the FBI. It was called:
  • a) Satin Street
  • b) Woolen Way
  • c) Cotton Drive
  • d) Silk Road
  • e) Krugman Boulevard
  1. Which of the following names are NOT a fan of bitcoin?
  • a) Paul Krugman – Economist
  • b) Marc Andreessen – Inventor of web browser
  • c) Ashton Kutcher – Famous Actor
  • d) Warren Buffet – Billionaire investor
  • e) Richard Branson – Billionaire of Virgin Galactic
  1. Bitcoins can be divisible down to the eighth decimal point. What is that unit called?
  • a) Milti
  • b) Satoshi
  • c) Eight-ball
  • d) Seri
  • e) Kruggy
  1. Bitcoin is protected by encryption. The form of encryption used is called:
  • a) Acme 9000
  • b) Scrypt-N
  • c) Sha256
  • d) BFG9000
  • e) CGMINER
  1. Which of the following are NOT a valid way to get a bitcoin?
  • a) Ask a Facebook Friend to send some to your Facebook account from
  • b) Open an account with Coinbase
  • c) Open an account with Mt. Gox
  • d) Post a picture of yourself on “girls gone bitcoin” on reddit
  • e) Buy a good graphics card and mine them from home
  1. What is the fastest time you can send or receive payment in bitcoin without verification?
  • a) Instantaneously
  • b) 2 minutes
  • c) 10 minutes
  • d) 60 minutes
  • e) Six hours


That’s it. So, how do you think you faired? Go ahead and check out the answers. If you received lesser than 18, then don’t worry, this gives another chance to gain additional knowledge.

Go ahead in this fair manner, and slowly yet proudly, you can become the Bitcoin Knowledge expert.
After all, even if you do cheat, well, it just is your loss.
So come on, be sportive!



1) c Satoshi Nakamoto.

2) a The Bitcoin Whitepaper

3) c Mt Gox

4) d 21 million

5) b,d China and Russia

6) e Dollarcoin

7) b,c Not Storage for personal ID, Not and Email account backup

8) c Block-chain

9) a Three. June to Nov 2011,March-April 2013,Nov ‘13 to April ‘14

10) d About every 10 minutes

11) e None of the above

12) b 3600.

13) c Jan 2009

14) d Miners

15) d Silk Road

16) a,d Paul Krugman,Warren Buffet

17) b Satoshi

18) c Sha256

19) c,e No longer Mt Gox,No longer GPU at home

20) a Instantaneously


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