Cryptocurrency Quiz

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Question 1 of 14

1. Question
Cryptocurrency is:
- A type of tax-free account you can use to fund your future burial expenses
- Electronic Monopoly money
- Digital currency that's encrypted
- The only type of currency that's accepted in the Burning Man "gift economy"
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Question 2 of 14

2. Question
The differences between cryptocurrency and traditional currency include all of the following except:
- The value of traditional currency is guaranteed against inflation while that of cryptocurrency is not
- Traditional currency is backed by a government while cryptocurrency is not
- You can't make it rain with cryptocurrency
- Old white presidents' faces
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Question 3 of 14

3. Question
The risks of investing in cryptocurrency include:
- Being too interesting at parties
- A robot uprising
- The possibility of the government confiscating your cryptocurrency
- Big price swings
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Question 4 of 14

4. Question
True or false: There are more than two thousand types of cryptocurrency
- True
- False
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Question 5 of 14

5. Question
The process for creating new units of Bitcoin is called:
- Mining
- Minting
- Musking
- Getting Bit AF
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Question 6 of 14

6. Question
True or false: Bitcoin is considered the most established cryptocurrency because its price is very stable.
- True
- False
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Question 7 of 14

7. Question
True or false: Because Bitcoin is a digital-only cryptocurrency, you can’t use it to buy goods or services with any traditional businesses.
- True
- False
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Question 8 of 14

8. Question
An initial coin offering, or ICO, is:
- A surefire way to invest 100% of your retirement savings
- A type of fund-raising option for companies
- When QVC sells commemorative coins
- Elon Musk's pickup line
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Question 9 of 14

9. Question
ICOs can be great deals for the companies that use them because:
- The companies are guaranteed a minimum level of fund-raising
- 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
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Question 10 of 14

10. Question
The basic trade-off for investors of buying into an ICO is:
- Whether to invest their gains in the stock market or in more ICOs
- Whether to buy a Model S or Model X Tesla with their profits
- Whether to diversify among different ICOs or make a concentrated bet on just one
- The chance to make a lot of money versus the chance of losing all their invested money
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Question 11 of 14

11. Question
Blockchain is:
- Disruptive record-keeping technology that powers Bitcoin
- A chain of computers used to mine for Bitcoin
- An old video rental company
- An impenetrable fence that Silicon Valley is building around itself before it declares itself an independent country
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Question 12 of 14

12. Question
The big innovation of Blockchain is:
- Creating artificially intelligent robots that can defraud the government
- Creating a highly secure way of storing information
- Creating VR bankruptcy
- Creating an opportunity for computer geeks everywhere to finally move out of their moms' basements
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Question 13 of 14

13. Question
True or false: Blockchain could have potential applications far beyond cryptocurrency.
- True
- False
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Question 14 of 14

14. Question
True or false: Blockchain is also highly environmentally efficient.
- True
- False
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