Final quiz · Bitcoin and Mining
Bitcoin and Mining quiz answers, explained
You are about to take the Bitcoin and Mining final quiz. Here are the 10 questions, the correct answer and the real number behind each one, so you pass and understand what you are ticking.
How the quiz works
- Where: the final quiz of the Bitcoin and Mining course on academy.gomining.com, after seven lessons.
- 10 single-choice questions. We took it twice on 12 October 2026 and got the same 10, in the same order.
- No attempt limit: if you fail, you can retake it. Passing gives you a course certificate.
What bitcoin is
What makes Bitcoin fundamentally different from traditional money?
Options: It's accepted only in El Salvador · It has a fixed supply of 21 million coins · It is backed by the IMF · It guarantees stable prices
It has a fixed supply of 21 million coins.
No central bank can print more. By October 2026 about 20.1 million had been issued, over 95%, and the rest comes out ever more slowly because of the halvings: the last ones will be mined around 2140. "Guarantees stable prices" is the opposite of the truth: its price moves a lot.
Why is Bitcoin considered borderless?
Options: It is tied to the U.S. dollar · It needs passport verification · It works the same anywhere in the world · It's banned globally
It works the same anywhere in the world.
The network's rules are the same in London and in Mexico City, and sending bitcoin abroad costs the same as sending it next door. What does change from country to country is the law and the tax, which is the last question of the quiz.
Mining
What is Bitcoin mining?
Options: Creating new laws · Solving puzzles to validate transactions and earn BTC · Digging through code manually · Sending Bitcoin to friends
Solving puzzles to validate transactions and earn BTC.
Machines try numbers until they hit a valid hash, and whoever finds it closes the block and takes the reward: 3.125 BTC today plus fees. Each TH is a slice of that search. With the network at about 950 million TH, 1 TH mines about 47 satoshis a day. How much bitcoin 1 TH mines per day walks through the whole calculation.
What machine is typically used to mine Bitcoin?
Options: Raspberry Pi · ASIC · USB stick · Blockchain printer
An ASIC.
An ASIC is a chip built for one job: computing SHA-256 hashes as fast as possible on as little power as possible. That efficiency is measured in W/TH, and it is what GoMining sells you in every miner: the best tier today is 12 W/TH. Why W/TH matters so much.
What does a halving event do?
Options: Halves your wallet balance · Reduces the block reward · Increases Bitcoin supply · Doubles transaction speed
Reduces the block reward.
Every 210,000 blocks, about four years, the reward is cut in half. The 2024 one took it to 3.125 BTC, and the next, at block 1,050,000 (around April 2028), takes it to 1.5625. For a GoMining miner that means half the satoshis per TH with the same maintenance bill. What it does to each W/TH tier.
Transactions
What happens after you send Bitcoin?
Options: A bank confirms the payment · The network validates and adds it to the blockchain · It must be reviewed by miners · It goes to your email
The network validates and adds it to the blockchain.
The transaction waits in the mempool until a miner puts it in a block, which happens every ten minutes on average. Watch out for "it must be reviewed by miners": it sounds close, but the right one is the network as a whole validating it and recording it on the blockchain.
What's a key feature of Bitcoin transactions?
Options: Reversible anytime · Peer-to-peer and final · Requires notarization · Takes weeks to confirm
Peer-to-peer and final.
There is no middleman and no undo button. If you send bitcoin to the wrong address, there is nobody to call. So before withdrawing from GoMining to your wallet, check the address twice.
Security and the law
What is "DYOR"?
Options: Do Your Own Research · Don't Yield On Risk · Digital Your Own Resources · Deposit Your Online Receipts
Do Your Own Research.
Don't trust a return because someone shows it to you, this site included. Check the numbers: the calculator takes your TH, your W/TH and the bitcoin price, and shows you the price below which you lose money.
What should you never share?
Options: Wallet address · Email ID · Private keys or seed phrase · Transaction fees
Private keys or seed phrase.
Whoever has your seed phrase has your bitcoin, and no support agent will ever ask for it. Your wallet address, on the other hand, is safe to share: it exists so people can send you money.
What should you do if unsure about your country’s crypto laws?
Options: Post on Twitter · Check government websites and legal blogs · Ignore them · Buy anyway
Check government websites and legal blogs.
The rules differ by country. The EU has applied the MiCA regulation since the end of 2024, and in most countries crypto gains, mining income included, have to be declared for tax. When in doubt, ask a tax adviser.
The three Academy quizzes
- GoMining Basics: the platform: miners, maintenance, Miner Wars and veGOMINING.
- Bitcoin and Mining: what bitcoin is, how it is mined and how to protect yourself. You are here.
- Blockchain and Crypto: blockchain, consensus, kinds of crypto and smart contracts.
If you haven't done the other two courses, GoMining Basics is the one closest to what you will use in the app. And if you are thinking of starting, this is what $100 gets you.
Doing the course? Set up the account with the code first
The Academy lives in a GoMining account, and a referral code can only be applied to a new account before its first miner purchase. With the code 11jY4 you get +5% extra hashrate on your first miner purchase, up to a maximum of 25 TH, and a free month of VIP Platinum+, one of the maintenance discounts.
The code does not travel on its own, and this is what goes wrong. If you tap through on a phone, the link drops you on the app download page, and no part of the address survives that jump. You install, you sign up… and the referral was never applied, with nothing to warn you. Paste it in by hand before you buy your first miner. Afterwards it can no longer be applied.
Screenshots of each step are on the referral code page. This site is not affiliated with GoMining or GoMining Academy and does not give financial advice: the figures above are estimates based on assumptions you can change, and they can be negative.
How to start with GoMining: account, first miner, discounts and first payout, in order.