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The Bitcoin Bites
What is Bitcoin?
A decentralized digital currency
A centralized digital currency
A physical currency
A barter system
Who created Bitcoin?
Satoshi Nakamoto
Vitalik Buterin
Mark Zuckerberg
Bill Gates
What is the value of bitcoin in INR?
2,142,830
100,000
94,000
25,000
How are new Bitcoins created?
Through a process called mining
By purchasing them from a central bank
By solving complex mathematical puzzles
By receiving them as a gift
What is a blockchain?
A decentralized and immutable ledger
A centralized database
A physical chain made of blocks
A type of encryption algorithm
What is the purpose of mining in Bitcoin?
To secure the network and validate transactions
To create new Bitcoins
To control the price of Bitcoin
To regulate the supply of Bitcoin
Can Bitcoin transactions be reversed?
No, Bitcoin transactions are irreversible
Yes, with the approval of a central authority
Only if both parties agree to reverse it
It depends on the amount of Bitcoin involved
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