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Bitcoin: Intangible Digital Currency

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Questions and Answers

Which characteristic does Bitcoin possess?

Imprinted nature (correct)

Physical existence

Analog origin

Tangible form

What distinguishes Bitcoin from traditional currencies?

Traceable ownership

Inherent value

Centralized control

Physical backing (correct)

In terms of physicality, how does Bitcoin compare to most forms of money?

It is backed by gold reserves

It is made of metal alloys

It can be printed on paper

It has no tangibility (correct)

What is a key feature of an electronic digital currency like Bitcoin?

Decentralized nature Signup and view all the answers

Which aspect of money does Bitcoin disrupt the most?

Durability Signup and view all the answers

When did the price of Bitcoin first reach $1,000?

Mid-2011 Signup and view all the answers

How many digital currencies were there by March 2021?

1,300 Signup and view all the answers

At what price did Bitcoin reach $35?

$0.0001 Signup and view all the answers

Which year saw Bitcoin reaching a value of $19,000?

2017 Signup and view all the answers

How did the popularity of digital currencies vary?

Varied across different currencies Signup and view all the answers

Which of the following is a function of electronic money that is not typically associated with traditional money?

Facilitating decentralized transactions Signup and view all the answers

Which of the following cryptocurrencies is not considered to be one of the most famous?

Bitcoin Cash Signup and view all the answers

How does electronic money differ from traditional money in terms of its origin?

Electronic money is created through a decentralized process Signup and view all the answers

Which of the following statements best describes the evolution of money?

Money has evolved from a barter system to a fiat system Signup and view all the answers

Which of the following is not a characteristic of Bitcoin, as a form of electronic money?

Bitcoin is regulated by a central authority Signup and view all the answers