Satoshi Beginner’s Quiz - Naija Bitcoin 2025

Satoshi's Hard Quiz

Are you an expert on Bitcoin? Test your Bitcoin knowledge with the Satoshi's Hard Quiz

1. What is better name for a "Bitcoin wallet?"

a. Transaction Viewer

b. Signal Reader

c. Sats Grouper

d. Device Signer

2. Bitcoin's mining difficulty is adjusted after how many blocks?

a. 512

b. 1024

c. 2016

d. 2121

3. Who benefits from the Cantillon Effect?

a. The Middle Class

b. The Unbanked

c. The Rich

d. No one benefits

4. Which hypothetical situation describes "the double spend problem" that Bitcoin solved?

a. Roman Emporer

b. Catholic Priest

c. Byzantine General

d. Norse God

5. Why is Bitcoin different to Email?

a. Bitcoin transactions have no Sender

b. Bitcoin transactions have no Receiver

c. Bitcoin transactions can be copied

d. Bitcoin transactions aren't really data

6. Proof-of-Work establishes what?

a. Consensus on the order of blocks

b. The UTXO distribution

c. The size of the blocks

d. Who owns which Bitcoin

7. What will definitely happen when a significant amount of hashing power is added to the network?

a. Block times will decrease

b. Block times will increase

c. It will become more difficult to mine a block

d. The USD price will quickly increase

8. What is not true about the Lightning Network?

a. Opening a channel is an on-chain transaction

b. It can theoretically scale to millions of transactions per second

c. It provides instant settlement

d. Transactions are less private than on-chain transactions

9. What does "inbound liquidity" mean for a Lighting channel?

a. It is the amount of sats you can send

b. It is the amount of sats that you can recieve

c. It is the total amount of sats in your channel

d. It is the cost of opening a channel

10. As of 2022 quarter 4, how much liquidity does the Lightning Network have?

a. 1000 BTC

b. 2500 BTC

c. 5000 BTC

d. 10,000 BTC

11. What statement has nothing to do with a multi-signature transaction?

a. Three of five

b. Multi sig is a smart contract

c. Creating a yield

d. Opening a Lightning channel

12. What is not something a Bitcoin maximalist would say?

a. "Not your keys, not your coins"

b. "Careful trading can increase your stack"

c. "Code is speech"

d. "Don't trust, verify"

13. Why are non-KYC sats typically valued by Bitcoiners

a. Better Security

b. Better Privacy

c. Increased Fungibility

d. Faster Transaction Speed

14. Which person is not cited in the whitepaper?

a. Adam Back

b. Wei Dai

c. Ralph Merkle

d. Len Sassaman

15. What percentage of the total supply of Bitcoin was mined during the first epoch?

a. 10%

b. 25%

c. 50%

d. 90%

16. Which is not included in a block's header?

a. Merkle root

b. Hash corresponding to the previous block

c. Watts of Electricity used mining the block

d. Timestamp and nonce

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Naija Bitcoin Hard Quiz