Cryptocurrency as an example of digital currency

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Quick Questions

Shade in the A or B circle for each question.

1. Which statement about Bitcoin is correct?

A Bitcoin is a cryptocurrency, which is a kind of digital currency

B Bitcoin is a physical coin made by a government mint

2. Who issues and controls a cryptocurrency such as Bitcoin?

A No government or central bank issues or controls it

B The central bank of the country prints it

3. Which of these is another example of a cryptocurrency?

A Ethereum

B Pound sterling notes

4. How are cryptocurrency and digital currency related?

A Cryptocurrency and digital currency are exactly the same thing

B Cryptocurrency is one kind of digital currency

5. Which description fits a cryptocurrency?

A It can be printed on paper and kept in a purse

B It exists only electronically

Match the Pairs

Draw a line connecting each item on the left to its match on the right.

Left column		Right column
1Bitcoin		AissuedBy = no central bank
2Ethereum		BThe best-known cryptocurrency, which exists only electronically and is not issued by a government
3A cryptocurrency is one kind of digital currency, so every cryptocurrency is also a digital currency		CThere are many cryptocurrencies. Bitcoin is just the best known, and Ethereum is another example.
4A cryptocurrency is not printed or controlled by a central bank, unlike the notes and coins of a government		DAnother example of a cryptocurrency, separate from Bitcoin and not controlled by a central bank
5Bitcoin is printed by the government		EBitcoin is not printed or issued by any government. It exists only electronically as a cryptocurrency.
6Bitcoin is the only cryptocurrency		Fcryptocurrency is a digital currency

Definitions

cryptocurrency

Fill in the Blanks

Complete each line of code by filling in the missing parts.

IF issuer __ "central bank" THEN type ← "cryptocurrency" ENDIF

coins ← ["Bitcoin", "________"]

DECLARE isDigital : _______ isDigital ← TRUE

IF c = "Bitcoin" __ c = "Ethereum" THEN OUTPUT "Cryptocurrency" ENDIF

isDigital ← TRUE isPrinted ← _____ isCrypto ← isDigital AND NOT isPrinted

Spot the Error

Shade in the letter of the line that contains an error.

Question 1

A coin ← "Ethereum"

B isCrypto ← FALSE

C OUTPUT isCrypto

Question 2

A cash ← "Coins and notes"

B crypto ← "Dollar bill"

C OUTPUT crypto + " is crypto"

Question 3

A PROCEDURE showCrypto()

B OUTPUT "Bitcoin"

C OUTPUT "Ethereum"

D ENDFUNCTION

E CALL showCrypto()

Question 4

A coin ← "Bitcoin"

B digital ← TRUE

C printed ← TRUE

D OUTPUT coin, "is not printed"

Question 5

A kind ← "physical cash"

B example ← "Bitcoin"

C OUTPUT example + " is " + kind

Answer Key

Cryptocurrency as an example of digital currency

Section A: Quick Questions

A — Bitcoin is a cryptocurrency, which is a kind of digital currency

A — No government or central bank issues or controls it

A — Ethereum

B — Cryptocurrency is one kind of digital currency

B — It exists only electronically

Section B: Match the Pairs

Bitcoin → The best-known cryptocurrency, which exists only electronically and is not issued by a government

Ethereum → Another example of a cryptocurrency, separate from Bitcoin and not controlled by a central bank

A cryptocurrency is one kind of digital currency, so every cryptocurrency is also a digital currency → cryptocurrency is a digital currency

A cryptocurrency is not printed or controlled by a central bank, unlike the notes and coins of a government → issuedBy = no central bank

Bitcoin is printed by the government → Bitcoin is not printed or issued by any government. It exists only electronically as a cryptocurrency.

Bitcoin is the only cryptocurrency → There are many cryptocurrencies. Bitcoin is just the best known, and Ethereum is another example.

Section C: Definitions

cryptocurrency — A kind of digital currency, such as Bitcoin or Ethereum, that exists only electronically and is not printed or controlled by a government or central bank.

Section D: Fill in the Blanks

IF issuer <> "central bank" THEN
  type ← "cryptocurrency"
ENDIF

coins ← ["Bitcoin", "Ethereum"]

DECLARE isDigital : BOOLEAN
isDigital ← TRUE

IF c = "Bitcoin" OR c = "Ethereum" THEN
  OUTPUT "Cryptocurrency"
ENDIF

isDigital ← TRUE
isPrinted ← FALSE
isCrypto ← isDigital AND NOT isPrinted

Section E: Spot the Error

B — Ethereum is a cryptocurrency, so isCrypto should be set to TRUE, not FALSE.

B — A dollar bill is physical government cash, not a cryptocurrency. The example should be "Bitcoin" (or Ethereum).

D — A PROCEDURE must be closed with ENDPROCEDURE, not ENDFUNCTION. The procedure lists two cryptocurrencies.

C — Bitcoin exists only electronically and is not printed, so printed should be FALSE. The output on line 4 would otherwise be wrong.

A — Bitcoin is a kind of digital currency, not physical cash. kind should be "digital currency".