smaller bitcoin test

How does your bitcoin knowledge rank? Here are Twenty Test Questions to evaluate yourself.


This is the first part of a three-part series that will test your knowledge of bitcoin greatness. This quiz will provide you a general measuring stick to gauge where you fit in the range of bitcoin knowledge. We trust you will take this quiz with the “honor code”. This means that if you don’t know the answer, you can honorably feel free to look up the answers anywhere on the web.

While you are there, scroll up and down a page to see what other information you can gain by accident. Once you are done with all your research take the quiz again with your books closed and your web searches off. Keep doing this until you get 18 questions correctly or better. Passing the beginner level test with a score of at least 90% (18 correct) means you might know just enough to be dangerous.

But then you can brag to your friends you passed the first level and can proudly hold the title of a “Bitcoin Magazine Beginner”. Just passing this test, doesn’t indicate you are ready to make bitcoin investments yet.  The answers will appear tomorrow for those who don’t need to do the searches for answers.



Level 0– Newbie:  You barely know how to spell bitcoin. We all have to start somewhere. This is where it all begins.


Level 1- Beginner: You scored of at least 18 correct on the first quiz. Don’t get cocky – This doesn’t mean you are ready to invest in bitcoin yet.



Level 2 Intermediate: If you can get 90% score on the intermediate level quiz, you might know enough to put a few bucks into investing in bitcoin.



Level 3 Expert: A score of 90% on the advanced quiz means you might know enough to start teaching others about bitcoin.  Get active, start a Meetup group in your community. Start your own bitcoin blog. Begin programming and offer to beta test code for the core bitcoin team. Start looking for work a new bitcoin start-up business, the world is yours.

Twenty Questions to Qualify as an Official Beginner.

  1.    Who created bitcoin?
  • a      Notosohi Sakamoto
  • b     Gavin Andresen
  • c      Satoshi Nakamoto
  • d      Dorian Nakamoto
  • e      Paul Krugman

2.   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 Unraveling
  • d     Fifty Shades of Grey
  • e     The Bitcoin Constitution

3.       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

4.      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

5.       Name two countries that have banned their banks from servicing bitcoin companies.

  • a      USA
  • b     China
  •  c    Germany
  •  d    Russia
  •  e    Cayman Islands

6.       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

7.       Which of  the following statements are NOT 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.

8.       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

9.       How many major bitcoin price bubbles have there been?

  • a    Three
  • b     Six
  • c     One
  • d     None
  • e     13.5

10.   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

11.   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

12.   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

13.   What month\year did the bitcoin network start?

  • a     November 2008
  • b    May 2010
  •  c    January 2009
  •  d    September 12, 2001
  •  e    April 2013

14.   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

15.   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

16.   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

17.   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

18.    Bitcoin is protected by encryption. The form of encryption used is called:

  • a     Acme 9000
  • b     Scrypt-N
  •  c    Sha256
  •  d    BFG9000
  •  e    CGMINER

19.   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

20.    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

How do you think you did?  Answers to follow.

Score level recognition: Send a tip ($1 or more suggested) with your name (or handle) and your score to be forever recorded in the block-chain. We will post your score to a special wallet designed specifically to record your scores with our official quiz result reporting wallet ID in recognition of your efforts.

If you scored 18 or better and submitted your score,  you can prove to your friends and family that you passed the level one quiz and earned your virtual certificate. You’re finally a “Bitcoin Magazine Sophomore Knowledge Expert.

If you missed some – go read up on the subject, these are areas to concentrate you study.

Next week we will have the Intermediate level quiz. When you get 90% on that, then you might know enough to put a few bucks into a bitcoin investment. The questions get harder but you’ll qualify as a “Bitcoin Magazine  Junior Knowledge Expert”.

The following week be ready to put on your big boy (or girl) britches. This will separate the men from the boys and the women from the girls. It will separate the bitcoin expert from the bitcoin wannabe. This will allow you to earn your title as ” Bitcoin Magazine Senior Knowledge Expert

Proudly display that virtual title as referenced forever in the block-chain.

All in the name of fun of course.


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


The post Twenty Questions to Test Your Bitcoin Knowledge. Beginner Level. appeared first on Bitcoin Magazine.

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