Who is Satoshi Nakamoto?

  • Unknown creator(s) of Bitcoin

What happened on January 3rd, 2009?

  • Bitcoin was launched

What primary flaws with fiat does Bitcoin solve? 

  • Censorship
  • Centralization
  • Unlimited supply

A _________ is _________ of a whole Bitcoin.

  • sat; 100,000,000th

What is the Bitcoin white paper?

  • outline written by Satoshi

Prior to Bitcoin, central banks & government’s had complete control over the ___________ of money

  • creation
  • distribution
  • storage
  • oversight

Bitcoin’s “censorship resistance” means ____________________.

  • no person(s) can stop others from using it

Self-custody means _________________________.

  • taking ownership of your Bitcoin

What were Satoshi’s two main objectives with Bitcoin?

  • Create a fair and reliable money
  • Separate money from central authority

What is barter?

  • The exchange of goods and services without money

What is a monetary good?

  • A good used as money, not for consumption

______________ is a key trait of a monetary good.

  • Verifiability
  • Divisibility
  • Portability

If a money has a limited supply, it is considered ___________.

  • scarce

If everyone is willing to accept a money for trade, it is a good ____________.

  • medium of exchange

What money is Bitcoin directly in competition with today?

  • Fiat

What is the max amount of Bitcoin that will ever exist?

  • 21 million

Due to its central control & unlimited supply, fiat is ______________.

  • exclusive
  • unreliable

When a monetary good is inflated, it is ___________. 

  • becoming less valuable

Bitcoin’s known limited supply makes it the most _________________ monetary good we have ever seen.

  • scarce

When tested for the characteristics of a hard money, which performs significantly better than the rest? 

  • Bitcoin

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