Bitcoin (BTC) MCQs

1. : Who created Bitcoin in 2009?
(A) Hal Finney
(B) Vitalik Buterin
(C) Satoshi Nakamoto
(D) Gavin Andresen

2. : What is the maximum supply limit of Bitcoin?
(A) 10 million
(B) 21 million
(C) 50 million
(D) Unlimited

3. : Which process is used to create new Bitcoins?
(A) Staking
(B) Mining
(C) Forging
(D) Printing

4. : The smallest unit of Bitcoin is called?
(A) Bit
(B) Nakamoto
(C) Satoshi
(D) Microcoin

5. : What type of blockchain does Bitcoin use?
(A) Permissioned
(B) Public
(C) Private
(D) Hybrid

6. : Who was the first person to receive a Bitcoin transaction from Satoshi Nakamoto?
(A) Charlie Lee
(B) Hal Finney
(C) Nick Szabo
(D) Adam Back

7. : What is the average block time in Bitcoin?
(A) 1 minute
(B) 5 minutes
(C) 10 minutes
(D) 1 hour

8. : The first Bitcoin transaction was used to buy?
(A) A car
(B) A domain name
(C) Two pizzas
(D) Coffee

9. : Which algorithm is used in Bitcoin’s proof-of-work?
(A) SHA-1
(B) SHA-256
(C) MD5
(D) AES

10. : What reward do miners currently receive for mining a block (as of 2024 halving)?
(A) 12.5 BTC
(B) 25 BTC
(C) 6.25 BTC
(D) 3.125 BTC

11. : Which year was Bitcoin launched?
(A) 2005
(B) 2008
(C) 2009
(D) 2010

12. : The first Bitcoin block is called?
(A) Origin block
(B) Genesis block
(C) First block
(D) Main block

13. : Bitcoin is often referred to as?
(A) Digital gold
(B) Digital silver
(C) Digital cash
(D) Digital bond

14. : Which is the main advantage of Bitcoin?
(A) Centralized control
(B) Censorship resistance
(C) Unlimited inflation
(D) Physical form

15. : What is Bitcoin’s consensus mechanism?
(A) Proof of Authority
(B) Proof of Stake
(C) Proof of Work
(D) Delegated Proof of Stake

16. : What happens every 210,000 Bitcoin blocks?
(A) Network reset
(B) Block reward halving
(C) Hard fork
(D) Difficulty reset

17. : Who is known as Bitcoin’s lead developer after Satoshi left?
(A) Hal Finney
(B) Gavin Andresen
(C) Charlie Lee
(D) Vitalik Buterin

18. : The Bitcoin whitepaper was published in which year?
(A) 2007
(B) 2008
(C) 2009
(D) 2010

19. : Bitcoin addresses are generated from which type of keys?
(A) Public-private key pairs
(B) Symmetric keys
(C) Session keys
(D) API keys

20. : What does HODL mean in Bitcoin community?
(A) Hold On for Dear Life
(B) High Order Digital Ledger
(C) Huge Open Decentralized Ledger
(D) Hard Online Distributed Ledger

21. : Bitcoin was the first cryptocurrency based on?
(A) Directed Acyclic Graph
(B) Blockchain
(C) Hashgraph
(D) Sidechain

22. : The difficulty adjustment in Bitcoin occurs every?
(A) 2016 blocks
(B) 500 blocks
(C) 210,000 blocks
(D) 1000 blocks

23. : What is the average size of a Bitcoin block?
(A) 2 MB
(B) 1 MB
(C) 10 MB
(D) 100 KB

24. : Bitcoin transactions are stored in?
(A) Blocks
(B) Packets
(C) Pages
(D) Chains

25. : Who controls the Bitcoin network?
(A) Banks
(B) Government
(C) Community consensus
(D) IMF

26. : Which programming language was mainly used to develop Bitcoin?
(A) Python
(B) C++
(C) Java
(D) Go

27. : Bitcoin transactions are verified by?
(A) Users
(B) Miners
(C) Wallets
(D) Exchanges

28. : Which fork created Bitcoin Cash (BCH)?
(A) 2014
(B) 2015
(C) 2016
(D) 2017

29. : Bitcoin is divisible up to how many decimal places?
(A) 2
(B) 4
(C) 6
(D) 8

30. : The Bitcoin logo features which color scheme?
(A) Blue and white
(B) Green and gold
(C) Orange and white
(D) Red and black

31. : What is the Bitcoin Improvement Proposal (BIP)?
(A) A mining company
(B) A standard for proposing changes
(C) A wallet software
(D) A fork mechanism

32. : Who mined the first Bitcoin block?
(A) Gavin Andresen
(B) Hal Finney
(C) Satoshi Nakamoto
(D) Adam Back

33. : Which company was the first major to accept Bitcoin as payment in 2014?
(A) Microsoft
(B) Amazon
(C) Google
(D) Apple

34. : Bitcoin’s supply is described as?
(A) Infinite
(B) Deflationary
(C) Inflationary
(D) Controlled by central banks

35. : Which is a common scaling solution for Bitcoin?
(A) Lightning Network
(B) Plasma
(C) Sharding
(D) Casper

36. : The private key in Bitcoin must be kept?
(A) Shared with everyone
(B) Stored on blockchain
(C) Secret and secure
(D) Sent to miners

37. : What is the transaction fee in Bitcoin determined by?
(A) Transaction size in bytes
(B) Bitcoin amount sent
(C) Miner’s choice
(D) Fixed per transaction

38. : The Bitcoin whitepaper is titled?
(A) Peer-to-Peer Cash System
(B) Bitcoin: A Peer-to-Peer Electronic Cash System
(C) Blockchain Technology Explained
(D) Cryptocurrency Revolution

39. : Which was the first Bitcoin exchange?
(A) Binance
(B) Coinbase
(C) Mt. Gox
(D) Bitfinex

40. : What protects Bitcoin against double spending?
(A) Miners’ verification
(B) Wallets
(C) Exchanges
(D) Passwords

41. : The SHA-256 algorithm in Bitcoin produces how many bits?
(A) 128
(B) 192
(C) 256
(D) 512

42. : Who created the Lightning Network for Bitcoin?
(A) Satoshi Nakamoto
(B) Joseph Poon and Thaddeus Dryja
(C) Vitalik Buterin
(D) Hal Finney

43. : Bitcoin wallets can be?
(A) Only online
(B) Only offline
(C) Both hot and cold
(D) None

44. : What is the main disadvantage of Bitcoin?
(A) Centralization
(B) Scalability issues
(C) Unlimited supply
(D) No transparency

45. : Which was the first country to adopt Bitcoin as legal tender?
(A) USA
(B) El Salvador
(C) Japan
(D) Switzerland

46. : What happens when all 21 million Bitcoins are mined?
(A) Mining stops completely
(B) Only transaction fees will reward miners
(C) Supply increases
(D) Blockchain resets

47. : Which symbol represents Bitcoin?
(A) ₿
(B) Ξ
(C) Ψ
(D) Ƀ

48. : Bitcoin transactions are irreversible because?
(A) Central authority approves
(B) Blockchain immutability
(C) Banks verify them
(D) Keys can’t be stolen

49. : Bitcoin mining difficulty adjusts to maintain?
(A) Inflation rate
(B) Block time
(C) Supply rate
(D) Price stability

50. : The first Bitcoin ATM was installed in which country?
(A) USA
(B) Canada
(C) Switzerland
(D) Japan