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
