Entraînement aux concepts de ce débat

What is the hard-coded maximum supply limit of Bitcoin that underpins its argument as a censorship-resistant, deflationary monetary base independent of central banks?

• A.21 million coins.
• B.A dynamically adjusting supply based on algorithmic demand.
• C.A maximum limit of 21 million transactions per day.
• D.It has no hard limit, as the creator or miners can issue more at any time.

Which Layer-2 scaling solution is primarily cited as enabling Bitcoin to process high-velocity retail micropayments with fees below $0.01?

• A.The Lightning Network.
• B.The Liquid Network.
• C.Segregated Witness (SegWit).
• D.Sharding protocols.

What is the approximate structural limit of transactions per second on Bitcoin's base layer, often cited as a barrier to independent global transaction volume?

• A.5 to 7 transactions per second.
• B.15 to 45 transactions per second.
• C.100,000 transactions per second.
• D.1 megabyte per second.

Under the Quantity Theory of Money (Fisher 1911), if Bitcoin's velocity increases via Layer-2 networks while its supply remains strictly fixed, what must happen to the price level of goods priced in Bitcoin?

• A.The price level must increase, as the higher velocity of a fixed money supply means currency is spent more frequently to chase the same amount of goods.
• B.The price level must decrease, because a more efficient payment network inherently increases the currency's purchasing power.
• C.The price level must remain unchanged, because classical economic theory dictates that only changes in the money supply can alter long-term prices.
• D.The price level will fluctuate unpredictably based on the varying transaction fees charged by Layer-2 network operators.

According to Gresham's Law, if fiat currency is inflationary and Bitcoin is deflationary, how are consumers expected to behave regarding spending and hoarding the two assets?

• A.Consumers will prefer to spend Bitcoin for daily purchases because its superior technological value makes it a better currency.
• B.Consumers will spend the inflationary fiat currency for daily transactions and hoard the deflationary Bitcoin as a long-term store of value.
• C.Merchants will refuse to accept the inflationary fiat currency, forcing consumers to spend Bitcoin exclusively.
• D.Consumers will continuously trade between fiat and Bitcoin to capture arbitrage profits from exchange rate volatility.

Applying Metcalfe's Law (1980), if the number of active Bitcoin network participants doubles, what is the proportional increase in the network's theoretical fundamental value?

• A.The theoretical fundamental value quadruples.
• B.The theoretical fundamental value doubles.
• C.The theoretical fundamental value increases exponentially by two to the power of the user count.
• D.The theoretical fundamental value increases in direct proportion to the network's total hash rate.

During a Fed cycle characterized by aggressive quantitative tightening and high interest rates, how is the speculative demand for a non-yielding asset like Bitcoin typically impacted?

• A.Speculative demand decreases because higher risk-free rates increase the opportunity cost of holding non-yielding assets, while quantitative tightening reduces overall market liquidity.
• B.Speculative demand increases because investors flock to Bitcoin as a safe-haven inflation hedge while the Fed attempts to control rising prices.
• C.Speculative demand increases because higher borrowing costs weaken the fiat banking system, driving capital directly into decentralized alternatives.
• D.Speculative demand remains unaffected because Bitcoin's programmatic supply schedule, such as the halving cycle, dictates its market behavior regardless of central bank policy.

How would the widespread deployment of retail Central Bank Digital Currencies (CBDCs) most directly challenge Bitcoin's narrative as a viable, self-contained medium of exchange?

• A.By utilizing built-in code to automatically detect and permanently delete Bitcoin wallets from citizens' personal devices.
• B.By offering instant, low-cost digital settlements with state-backed price stability, eliminating the volatility risk that makes Bitcoin impractical for everyday commerce.
• C.By serving as a universal, government-approved bridge currency that seamlessly integrates with and enhances Bitcoin's daily transaction volume.
• D.By operating on centrally managed, permissioned networks that consume drastically less electricity than Bitcoin's proof-of-work consensus mechanism.

Regarding Bitcoin's fixed supply, how do the Quantity Theory of Money (Fisher 1911) and the Austrian Theory of Money (Mises 1912) differ most sharply in assessing the economic impact of a rigid money supply?

• A.Fisher's framework suggests a rigid supply causes harmful deflation as economic output grows, whereas Mises argues that any fixed supply is optimal because prices naturally adjust downward to reflect increased productivity.
• B.Both theories agree that a fixed supply guarantees long-term price stability, but Fisher believes it requires high transaction velocity while Mises believes it requires low velocity.
• C.Fisher argues that a fixed supply prevents harmful business cycles, whereas Mises warns that an inability to expand the money supply causes severe liquidity crises during panics.
• D.Fisher focuses on how a fixed supply affects international exchange rates, while Mises focuses on how it impacts the energy consumption and resource allocation of mining.