Topic: Help me out!! Exam-related questions (Read 428 times)

It took @NotATether 12 hours to respond to most of the questions not all and these are supposed to be exam questions according to the OP.    
I wonder how long it would take the OP to respond to all the questions in an exam sitting  
And am also wondering how he got hold of the exam materials, I thought you can only have access to questions during the exam period. Obviously, such lengthy questions will take a great deal of time for OP to be able to research and come up with answers, so his best shot is to dump them here for forum members to respond to.

@OP you should be grateful to NotATether who spends 12hrs from his busy time responding to around 50% of your questions. For the rest, you can do little research to find the answers. Good luck with your exam.

This is really interesting but I want to know if the examiner wants to create or form a team of blockchain tech or they wants to build a project?
Even if its from school I guess they could only sets an exam questions they have taught you not those questions that are very time consuming or not even related to your studies.
I guess @NotATether have cut down most of the answers and also deep down in clarification.

The forum has a lot of members and there are pioneers here in crypto but the question is if they have a time to answer it all. If only the OP said that he will pay someone who can answer all of his questions correctly then they might get motivated but I see that there are now few users who attempt to answer it.

It's okay if some can't answer all of the questions because there are others who might lend a helping hand and finish those questions who are not been answered yet. The real exam is yet to come and this one is only like a reviewer so I think it's fine if the OP will ask for help and then learn from it. Once the real exam came out, he is the one that is going to answer it.

Yes, if he wasn't lazy it would be more interesting to post both the question and the answer as we would get mixed opinions and could create a fun discussion. There are a lot of questions that are very easy to answer even for a newbie who really wants to get into the crypto market, I guess the OP hasn't read all the questions but has been in a hurry to seek help. He is really lazy, with these 35 questions I think there will be very few people willing to help him answer them all.

@OP isn't that lazy for you to ask people here to answer your quiz without doing your own research?  It would be better if you post the question and state your answer and ask the community if your answer is correct or need revision.  As much as I love to answer some of the questions, I would rather not since it is you that needs to do the hard work.

@NotATether, I really admire your intention to help but sometimes we need to check if the person really needs help or just lazes around asking others to spoonfeed him the answer.  And I think this time, @OP is lazy to search for the answer and just relies on the knowledge of the community before lifting his fingers.

seeing this I feel like going back to school, but unfortunately where I went to school in one exam it was only 5-10 for essay questions, at this rate my brain will be damaged instantly if I take the exam
anyways you are too lazy to look for answers
if you ask for help it's a few questions not all questions
what is there makes you even think just accept it
and you can say cheater

Kudos to NotATether for the giant response. Next time you have so many questions, please use a search engine.

Write down a big, bold, underlined, capitalized TRUE there, and 3 points for you. If I was the teacher, I'd give some extra points for a smart comment.

The monetary policy of bitcoin is characterized by inexistent flexibility, whereas ethereum is characterized by frequent ambiguities regarding the quantity of money, the consensus rules, and the mining economics. The developers have said it themselves that they don't feel confident enough to decide a monetary policy. We're talking about some crazy decentralization here. 

Oh, so it's all a question of,  should I pay 4$ for the official answers or should I just post this here and hope the ones doing the answers will not screw up and I end up failing the exam because I trusted some strangers on the internet!

Anyhow, congratulations to  NotATether for having the resolve to go over all of these, but one thing:


This is wrong, we had this study quoted here in a topic
https://www.chapman.edu/business/_files/faculty-research/2019-conference-money-finance/konstantin-sokolov-paper.pdf

I have the same question as you, this is like a question series of a recruiter, not a bitcoin test, maybe he is applying to a blockchain or bitcoin related company. The answers to this series of questions are almost everywhere on the internet, it's not difficult to find them but it will take quite a while.

I haven't read all of the OP's questions, but I've noticed that many of them are so simple that a beginner can answer them with just a little time without expert help. OP, if you are intending to stick with crypto-related work, I strongly recommend that you educate yourself about them, they will benefit you in the future. Don't just rely on others, it's not good for you. Only ask questions that you can't really answer.

The correct answers depend entirely on the examiner's understanding of crypto, so even if experts reply, it is possible that these might be the incorrect answer according to the examiner. Consider this a disclaimer and "no liability". It took me about 12 hours to write.


That is false, because you do not need the private key to verify a signature, and the cryptographic verification algorithm takes the transaction signature, the raw transaction data, and the public key as an input [note: There is usually a signature for each transaction input, except in some special cases I won't delve into here].


No, it currently comes from the block reward. But this could change in the distant future as the block rewards shrink.


False, it is well known that Bitcoin has a lower TPS than Ethereum. While I don't know the blocksize of Ethereum, I'm going to assume that it's much larger than 1MB.


If monetary policy means "price corrections" and flexible means "volatile", then I would say this is true - if we take percentage differences in price changes i.e. standard deviations.



No and this is not even the topic of that paper.


Both true (I'm not an Ethereum expert so I can't comment more about that, sorry)


No longer true ever since Ethereum switched to Proof of Stake last month. But check with your examiner and make sure your syllabus is up-to-date.


Not true.



False (I checked on sci-hub)



Not true, you can still be fingerprinted by your public address and transactions as they are not obfuscated.



No, its problem is that it increases centralization of mining by lowering the cost to increase your mining capacity to almost a constant amount, which increases the risk of censorship (for more information on this go to https://bitcoincleanup.com, where I explain this problem in detail - yes I made that site).


You can't easily manufacture and throw new miners into the network, so I'd say false. But the price you have to pay for that scalability can be read in my previous reply.


I can't help you with any of these unfortunately, as I know nothing about how stablecoins work. But exchanges offer it, so I'd say the first two are true, and the 3rd false - in fact all stablecoins have more risk than the dollar, because they are unregulated.



None of these are true, for the first two a soft fork can always be made that adds features to the protocol but never modifies or removes existing features, and for the 3rd a 51% attack has nothing to do with the blockchain, it's in the consensus algorithm used like PoW, PoS.


See above. I can't help you with liquidity pool stuff, it's not my area.


No. an NFT wraps a digital asset onto the blockchain, while BAT doesn't wrap anything.


No, that was not its main purpose, but it was a side effect. The main purpose was to prevent transaction malleability - a condition where duplicate transaction IDs can be made by modifying the transaction in a special way - by moving the ScriptSig data into the witness (hence why it is called segregated witness).



No, the polar opposite in fact. ASICs use proof of work only and are useless for Proof of Stake, so the manufacturers of Ethereum ASICs, the mining pools, and their customers have lost a lot of money from the industry being destroyed overnight.


No, it was an algorithmic stablecoin - it wasn't backed by anything (at least Tether, as shady as they are, have at least 75% backing of all their USDT), but it relied on an algorithm to keep the price up.



Both of them, because the blockchain was literaly cloned.


Proof of Work, public key identities using ECC & ECDSA, deceleration of the added supply of bitcoins which causes and deflation, and distributed ledger supplied with a P2P protocol.


How to achieve universal consensus of rules between nodes (by clearly defining the P2P protocol and data structures used in it), preventing those rules from being violated by attacks (nodes only accept the longet valid chain tip), and adding new rules in a compatible and decentralized way (using Bitcoin Improvement Proposals or BIPs).


A mining pool is a server that accepts hashrate from many different miners, to increase the chance of finding a block, and then distributes the rewards to all participating miners in proportion to their hash rate. Like I said, it makes it easier to find a block during high-difficulty periods of mining.


Also known as the Trilemma and first coined by Paul Sztorc, the trilemma is an issue in blockchains where they have to choose between two of scalability, security, and decentralization. Currently, Bitcoin is secure and decentralized, but not scalable. Because it is not possible to increase transaction throughput without making nodes use extra storage, and if applied on Layer 1 will compromise the decentralization. An alternate route is to delete old blocks that have spent transactions to save space but then that would compromise security.

Sztorc proposes Merged Mining (BIPs 300 & 301) to fix this problem, but personally I am not a big fan of officially tying up Bitcoin's economy to a bunch of random altcoins. Lightning network fixes some but not all issues with scalability. I am ambitious that a proposal that I am working on will be able to effectively address the issue of Bitcoin scalability on a second, independent layer.



Like I said, it's the Lightning Network and it addresses it by creating a series of off-chain transactions betwen two parties and only publishing the net difference on the blockchain, but it has limitations (it will not work when many people need to send or receive funds to/from a single guy).


Yes, I can simply input the name into SHA256 and verify the hashes match.


Sometime to do with Proof of Stake onboarding which I am not knowledgeable in.


I can't help you with these questions.


Ethereum has smart contracts, Bitcoin does not. Also, Bitcoin won't hardfork if some developers' DAO gets hacked. The smart contract platform of Ethereum enables many use cases such as DeFi and NFTs at the expense of increased public scrutiny of the Ethereum blockchain when malicious stuff happen on it (cf. Tornado Cash).

Ethereum uses Proof of Stake, Bitcoin will never use that even if you try to melt iron on us to change our minds.

As a result of continuous innovations and resulting fallout when they are inevitably used in high-profile malicious activities, investors have less confidence in Ethereum as a store of value than Bitcoin, which is reflected in their sheer difference of prices.

Ethereum's blockchain is larger than Bitcoin as a result of having a larger blocksize. As a result, it's harder to run and ETH node (requires 2TB SSD) than a Bitcoin node (only requires a 512GB HDD).


Duh, by half. That's why it's called a halvening


I'm skipping these but you should be able to find the answers with some digging.


It's not backed by sufficient reserves and they can arbitrary seize any coins they want as a result of lack of regulation. United States hates Tether because it's unregulated and is currently trying to get a bill through that limits stablecoin usage by Americans, in favor of a CDBC. On the other hand, I hate Tether because funds can be arbitrarily frozen like an unregulated jungle bank and because it's capable of performing a Terra Luna-style crash despite having some (insufficient) reserves and no balancing algorithm that wrecked Terra in the first place.


I can't help you with any of these except that a hardfork makes a breaking change in the consensus, while a soft fork merely makes compatible changes to the consensus in a way that they can still be followed by old nodes.

And a security is any item which is bought on the promise that it can be sold back to the seller at a later date for profit. Most coins (including the ones mentioned) are not securities.


Not like a traditional bank, as that would restrict them to operating in the US. But they must operate more like a fintech which provides a single financial service (USDT) to users, and periodically report to the Feds financial details like its assets, its volume & supply, etc. Instead of KYC you'd retain the funds freezing feature.


They are volatile, scammers and hackers use them to scamderaud people (and nobody seems to be doing anything about it) and  they are sometimes used for sanctions evasions (but in most cases are quickly busted).


I can't help you with these although the Howey test is easily searched on Google. You should find someone who is knowledgeable in liquidity pools and Ethereum.

Op, your questions are too many to answer. Hopefully there is someone who is willing to take the time to answer your questions, don't forget to prepare a little gift in the form of Bitcoin as a thank you for helping to lighten your load.

All of your questions are cryptocurrency related, I'm not sure any of the forum members can answer all of your questions. You have to rely on yourself to answer some of the questions you posted above, you have one week to finish all of these before the exam starts. Wish you the best after the exam results come out.

OP this thread should be moved to the service section, endeavor to attach the amount of Bitcoin you'll pay the person that will solve the questions. Assignments are not done free anywhere online. Follow the right section, don't abuse this section because the forum is Keen to help and tolerate any kind of question relating to bitcoin. These questions are too numerous to tackle so make an offer on the service section if you need help.

LeviL14, as already said, don't just dump questions here. Too many folks with their own problems, you will find the solution faster if you search for it. The goal of this community is to give you some tips that will help you solve your problem. It is not a replacement for your own research, but rather a supplement.

If you have a specific question, please do the following:
1. Search for it first. You may find an existing thread that has the answer, or something similar to what you're asking about.
2. If you don't find anything, ask your question in a clear and concise manner.

Don't be lazy man!
I doubt anyone will have the time to sit and answer you from number 1 to the end. The answers to these questions be it exam related questions or interview questions are available, in the net,  just a little research would solve many of these problems.

These are open ended questions seeking arguments, my advice for you is to sit down, use your computer and your head answer these questions,  then the few that you don't have answers to, bring them to the forum and will gladly help. You don't dump the whole questions here for an unknown messiah.

Time is precious. On what ground will someone help you in answering these questions in this forum? What will be the person's reward? Well looking at the questions alone is discouraging to start answering cause the questions are many. It would have been an idea and easy to answer if the questions weren't that many. Answering all these questions is like dedicating about 2-3hrs of your time to it. I don't think you will find someone ready to give 2-3hours of his or her to attain all the questions at once.

That's a lot of question, and majority of it is not easy one to be honest, and even though we have been in crypto, still just to make sure, you need to do your research about the answers so that you don't have any qualms about it. And just like any other exam, you need to prepare and review and not ask anyone to help you out. If that is just one to 5 questions they maybe someone will give you something. And so with that, I advise the OP to do it by himself and not to be spoon feed by the community.

I am just curious, what kind of exam is that? Is it maybe related to a job interview?  If so, I really think you should research the answers to these questions on your own. You will get the necessary knowledge that will benefit you in your future career. If you have difficulty with a particular question, feel free to ask, but do not rely on this site to give you all the answers. Also, I would recommend that you try to answer the questions yourself before consulting this site. It will help you learn more and you may be surprised by what you find out!

You're right.

Some of these questions are extremely specific, even for crypto enthusiasts, while some are rather general if you're into finances. This looks to me like some kind of job interview. I'd expect this applying for a position in a cryptocurrency division of a bank because many of these questions are made to eliminate candidates.

Like in 27 they're asking for a specific paper and in 29 about a specific article. Despite having some experience in cryptocurrencies I'd have no idea how to answer some of these questions.

What is this exam for? It doesn't sound like something you should learn by heart.

This feels like something you'd have to pay for and I'm not talking about a tip.

I used to do some tutoring and if my student came to me with 60 questions, some of which are open, meaning I have to write a few sentences, I'd say that it's going to take at least 2 hours of my time, but it can be more. Nobody is going to spend 2 hours working on this for you for free.

If you're really interested, do some research and respond on your own. You'll learn a lot by doing it.