by alex
Bitcoin’s scarcity is a fascinating aspect that sets it apart from traditional currencies. With a fixed supply cap and intricate mining processes, understanding Bitcoin’s scarcity can provide valuable insights into its market behavior and long-term potential. Dive into this quiz to see how well you grasp the concept of Bitcoin scarcity and its implications. Good luck!
Bitcoin Scarcity Quiz Questions Overview
1. What is the maximum supply of Bitcoin that can ever exist?
21 million
42 million
100 million
50 million
2. Who created Bitcoin?
Satoshi Nakamoto
Vitalik Buterin
Charlie Lee
Gavin Andresen
3. What is the process called by which new Bitcoins are created?
Mining
Forging
Minting
Printing
4. How often does Bitcoin’s mining reward get halved?
Every 4 years
Every 2 years
Every 6 years
Every 8 years
5. As of 2023, approximately how many Bitcoins have been mined?
19 million
15 million
21 million
10 million
6. What is the term for the smallest unit of Bitcoin?
Satoshi
Microbitcoin
Millibitcoin
Nakamoto
7. What happens to the difficulty of mining Bitcoin over time?
It increases
It decreases
It stays the same
It fluctuates randomly
8. What is the primary reason for Bitcoin’s scarcity?
Fixed supply cap
High demand
Mining difficulty
Market regulations
9. What is the impact of Bitcoin halving on its price historically?
Price tends to increase
Price tends to decrease
Price remains stable
Price becomes volatile
10. Which of the following best describes Bitcoin’s supply model?
Deflationary
Inflationary
Neutral
Variable
