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Cryptocurrency Economics
text: In 2014, Bitcoin was estimated to be how much more volatile than physical gold?, correct: Seven times, incorrect: Eight times,18 times,Four times, fun fact: After the value of a single bitcoin reached a new all-time high of $1,242 in 2013, it dropped to $600 per bitcoin in 2014.,text: In what country did the world's first known Bitcoin ATM open?, correct: Canada, incorrect: The United States,Norway,Germany, fun fact: Robocoin opened a Bitcoin ATM inside a Vancouver coffee shop in 2013. Bitcoin ATMs are connected to the Internet and allow the purchase of cryptocurrency.,text: Which countries have NOT legally recognized Bitcoin as an intangible asset?, correct: The United States, incorrect: South Africa,Canada,The Czech Republic, fun fact: Classification as an intangible asset reflects that Bitcoin has economic value but lacks a physical substance, like software or a patent.,text: Which of the following is NOT one of the assets of a standard currency that Bitcoin and similar cryptocurrencies possess?, correct: Stability, incorrect: Store of value,Medium of exchange,Unit of account, fun fact: While Bitcoin can retain its purchasing power over time, can be used in transactions, and has its financial standing, it is more volatile than traditional currency.,text: What is the current estimated market value of all forms of cryptocurrency?, correct: $1.66 trillion, incorrect: $2.54 billion,$957 million,$3.21 trillion, fun fact: There are thousands of cryptocurrencies today, with an astronomical increase after only a decade.,text: What is the projected 5-year economic cost of cryptocurrency miners leaving Kazakhstan?, correct: $1.5 billion, incorrect: $10 million,$5.7 billion,$900,000, fun fact: Of this amount, an estimated $300 million worth is from potential tax revenue.,text: What country completely banned cryptocurrency mining in 2021?, correct: China, incorrect: Russia,The United States,Mexico, fun fact: In that year, most cryptocurrency mining took place in China, but the ban has led other countries like the US and Kazakhstan to gain a plurality.,text: What is the "double-spending problem"?, correct: Cryptocurrency users copying digital records, incorrect: Cryptocurrencies being issued to two different users,Cryptocurrencies being controlled by more than two users,Transactions accepting both cryptocurrencies and cash, fun fact: The double-spending problem is currently one of the most significant issues facing cryptocurrencies. Digital records are sometimes falsified or copied.,text: What is one difference between cryptocurrency and government-issued money?, correct: An external authority can't manipulate it, incorrect: It doesn't have marketplace value,It can't be used around the world,Users don't trust it, fun fact: Unlike fiat currency like the US dollar, cryptocurrency isn't at risk of manipulation or tampering by the Federal Reserve and other governmental entities.,text: Bitcoin and other popular cryptocurrencies have sometimes been compared to a new form of what financial system?, correct: The gold standard, incorrect: The Bretton-Woods system,Fiat currency,The silver standard, fun fact: Like the gold standard, cryptocurrencies are directly tied to a commodity that is rare and time-consuming to obtain.,text: What can cryptocurrency be compared to as an explanation for why it has value?, correct: Precious metals like gold, incorrect: Cash,Real estate,Works of art, fun fact: Similar to gold and other precious metals, Bitcoin and other cryptocurrencies have a particular rarity and uniqueness that create value.
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Cryptocurrency Economics
In 2014, Bitcoin was estimated to be how much more volatile than physical gold?
Seven times
Four times
18 times
Eight times
