See if you can guess which is which...
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| 'Bit' coin. |
True or false?
2) The image to the right shows what a bitcoin looks like.
True or false?
3) Bitcoin was invented by Bob Bitcoin.
True or false?
4) May 22nd is Bitcoin Pizza Day, named because that was the day back in 2010 when Laszlo Hanyecz paid 10,000 bitcoin for two pizzas!
True or false?
5) If you held $1 milion dollars in 2015, here's what it would be worth in 2025, depending on whether you held it in dollars, bitcoin or pizzas:
US dollars = $775,194
Bitcoin = $136,833,731
Pizza = $0
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| A cat enjoys a regular flavor KitKat, then discards the wrapper irresponsibly. |
6) Back in 2019, Cadburys released a limited edition bitcoin flavored KitKat.
True or false?
7) The Pope mentioned the phrase 'to the moon' eleven times on twitter in 2017, and every time he mentioned it, bitcoin surged in price soon after.
True or false?
8) Over 74% of bitcoin mining is powered by renewable energy.
True or false?
9) The reason your body temperature increases when you are ill is because the viruses are using your body to mine for bitcoin!
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| A bitcoin mine, pictured yesterday. |
10) Bitcoin mining exploits child labor, with some child miners as young as seven working in perilous conditions.
True or false?
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Scroll down the page to find out the answers...
Answers:
1) Only 21 million bitcoin can ever be produced.
True - Unlike fiat currencies, i.e. dollars, pounds, etc, where governments/central banks keep printing more and more currency, bitcoin is capped at a finite quantity.
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| A bitten coin. |
2) The image to the right shows what a bitcoin looks like.
False - Bitcoin isn't a physical coin. It's a digital currency. The photo actually shows a bit coin*, rather than a bitcoin.
* A coin which has been bitten.
3) Bitcoin was invented by Bob Bitcoin.
False - Bitcoin was created by Satoshi Nakamoto. Nobody knows whether Satoshi was a single person, or a pseudonym for a group of people. Well technically, whoever Satoshi Nakamoto is/was, they obviously know who they are! But apart from Satoshi himself/themselves, nobody else knows.
For the record, Bob Bitcoin actually invented the solar-powered ice cream cone. #NotReally
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| Pizza slice: "Wow! You mean I'm worth $72.5 million!" Helpful reader: "Only if you were eaten by Laszlo Hanyecz. And only if you were cut into six slices, rather than eight." |
4) May 22nd is Bitcoin Pizza Day, named because that was the day back in 2010 when Laszlo Hanyecz paid 10,000 bitcoin for two pizzas!
True - To be fair, at the time bitcoin was only worth $0.0041, so he paid about $41 for his pizzas. However, based on today's exchange rate, the pizzas would have cost him over $435 million!
5) If you held $1 milion dollars in 2015, here's what it would be worth in 2025, depending on whether you held it in dollars, bitcoin or pizzas:
US dollars = $775,194
Bitcoin = $136,833,731
Pizza = $0
True - Here are the calculations to prove it:
US dollars: $1,000,000 / 1.29 (cumulative inflation) = $775.194
Bitcoin = $1,000,000 / $314.25 (bitcoin value in 2015) x $43,000 (bitcoin value today) = $136,833,731
Pizza: $0 (Any pizza bought in 2015 would be out of date by now, and therefore worthless.)
6) Back in 2019, Cadburys released a limited edition bitcoin flavored KitKat.
False - Bitcoin isn't a flavor. It's a digital currency.
Also, Cadburys don't make KitKats. They're made by Nestle. So if Cadburys did release a limited edition KitKat, Nestle would have most likely sued them for copyright infringement. However, Cadburys obviously wouldn't do that, because they're not foolish.
7) The Pope mentioned the phrase 'to the moon' eleven times on twitter in 2017, and every time he mentioned it, bitcoin surged in price soon after.
False - Based on his twitter account, presumably 'concrete' is the Pope's favorite code phrase, not 'to the moon', and as far as I'm aware, it doesn't lead to a bitcoin surge whenever he mentions it.
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| Concrete. Proud sponsors of the Pope's twitter account. (Click the image for a larger readable version.) |
8) Over 74% of bitcoin mining is powered by renewable energy.
True - Research firm CoinShares estimates that 74.1% of bitcoin mining is powered by renewable energy. Or to be more accurate, energy which 'experts' claim is 'clean' and renewable, but in reality, often isn't.
9) The reason your body temperature increases when you are ill is because the viruses are using your body to mine for bitcoin!
 |
| A child laborer endures perilous conditions so that EV owners can feel good about themselves for 'making the world a better place'. **shifty eyes** |
10) Bitcoin mining exploits child labor, with some child miners as young as seven working in perilous conditions.
False - This fact was of course actually referring to cobalt mines where cobalt is mined to create batteries for 'green' electric vehicles.
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How did you do? How many questions did you get right?
8-10 Well done! You're an expert at all things bitcoin. If you were in a coma, when you woke up the first thing you would ask would be, "What's the current bitcoin price?"
4-7 Not bad, but there's room for improvement.
0-3 That's a very poor showing. If you don't devote more time to your bitcoin studies, then you might end up paying 10,000 bitcoin for two pizzas!
57,000 Sorry, but there were only ten questions, so I'm afraid you're lying. Or perhaps you're getting confused with the current value of bitcoin in dollars?
Bitcoin themes also feature in the blog posts below:
Silliest cryptocurrency names
New words, and when they were first used
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