Bitcoin - General awareness questions on current affairs

1)   Australian entrepreneur Craig Wright has identified himself as _______ creator Satoshi Nakamoto.

a. PayPal
b. Bitcoin
c. Payt.
d. None of the above
Answer  Explanation 

ANSWER: Bitcoin

Explanation:
Australian entrepreneur Craig Wright has identified himself as Bitcoin creator Satoshi Nakamoto.
His admission follows years of speculation about who came up with the original ideas underlying the digital cash system.

  • Mr Wright has provided technical proof to back up his claim using coins known to be owned by Bitcoin’s creator.
  • Prominent members of the Bitcoin community and its core development team say they have confirmed his claims.


2)   The US Internal Revenue Service thinks bitcoin is property; a federal judge thinks it's a currency. What has the Commodity Futures Trading Commission decreed it as?

a. Property
b. Currency
c. Commodity
d. Futures
Answer  Explanation 

ANSWER: Commodity

Explanation:
Commodity Futures Trading Commission has decreed Bitcoin is a commodity meaning regulator can now bring charges against any wrongdoers trading cryptocurrency futures and options. Ring will open up financial innovation in the state. This is consequent to the US based Bitcoin future trading platforms. Bitcoin refers to a kind of digital currency where encryption techniques are used for regulation of generation of units of currency and verification of the transfer of funds, operating independently of a central bank.