❓ Frequently Asked Questions
Common questions about Bitcoin Arcade Academy and Bitcoin.
About the Academy
What is Bitcoin Arcade Academy?
Bitcoin Arcade Academy is an interactive learning platform where you can master Bitcoin from basics to advanced concepts. You earn Quarks (our reward currency) by completing lessons, which you can use in Bitcoin Arcade games.
How do I earn Quarks?
Complete lesson quizzes with a perfect score (100%) to earn Quarks. Each lesson awards different amounts:
- Lesson 1: 600 Quarks
- Lesson 2: 550 Quarks
- Lesson 3: 700 Quarks
- Lesson 4: 650 Quarks
- Lesson 5: 800 Quarks
- Lesson 6: 850 Quarks
Total possible: 4,150 Quarks
Can I retake quizzes?
Yes! You can retake quizzes as many times as needed to get a perfect score. However, you can only earn Quarks once per lesson.
Do I need prior knowledge?
No! Lesson 1 starts from absolute basics. If you've never heard of Bitcoin before, you're in the right place.
About Bitcoin
What is Bitcoin?
Bitcoin is digital money that works without banks or governments. It's:
- Scarce: Only 21 million will ever exist
- Decentralized: No single entity controls it
- Permissionless: Anyone can use it
- Censorship-resistant: No one can block transactions
Who created Bitcoin?
Satoshi Nakamoto - a person or group whose real identity remains unknown. They published the Bitcoin whitepaper on October 31, 2008, and mined the first block on January 3, 2009.
Is Bitcoin legal?
Yes, in most countries. Bitcoin is legal tender in El Salvador and the Central African Republic. Regulations vary by country, but owning and using Bitcoin is legal in the US, EU, and most of the world.
How is Bitcoin different from regular money?
Regular money (fiat):
- Governments can print unlimited amounts
- Controlled by central banks
- Value decreases over time (inflation)
- Can be frozen or seized
Bitcoin:
- Fixed supply of 21 million
- No central authority
- Deflationary (value tends to increase)
- You control it if you hold the keys
What's a satoshi?
The smallest unit of Bitcoin. 1 Bitcoin = 100,000,000 satoshis (sats). Named after Bitcoin's creator.
Technical Questions
What is the blockchain?
A distributed ledger (like a shared spreadsheet) that records all Bitcoin transactions. It's called a "blockchain" because transactions are grouped into blocks, and each block links to the previous one using cryptographic hashes.
What is mining?
The process of adding new blocks to the blockchain. Miners compete to solve complex math puzzles. The winner adds the next block and receives newly created Bitcoin as a reward.
What is a wallet?
Software that stores your private keys (secret codes that prove you own Bitcoin). Wallets let you send and receive Bitcoin.
What's the difference between hot and cold wallets?
- Hot wallet: Connected to the internet. Convenient but less secure.
- Cold wallet: Offline storage (hardware wallet or paper). More secure but less convenient.
Can Bitcoin be hacked?
The Bitcoin network has never been hacked. Individual wallets can be compromised if users don't follow security best practices (weak passwords, phishing, etc.). That's why Lesson 5 covers security!
Economics & Philosophy
What is Austrian economics?
A school of economic thought emphasizing:
- Sound money (scarce, can't be inflated)
- Free markets without central control
- Individual sovereignty over government planning
Bitcoin's design is heavily influenced by Austrian economics. Learn more in Lesson 1!
What is the Cantillon Effect?
When new money is created, those closest to the source (banks, governments, wealthy) benefit first. By the time it reaches regular people, prices have already risen. This increases inequality. Bitcoin's fixed supply prevents this.
Why does Bitcoin have value?
Bitcoin is valuable because it's:
- Scarce: Only 21 million ever
- Useful: Fast, global, permissionless payments
- Secure: Cryptographically protected
- Decentralized: No single point of failure
- Adopted: Millions use it worldwide
Value comes from people agreeing it's useful and scarce - same as gold.
Practical Questions
How do I buy Bitcoin?
- Choose an exchange (Coinbase, Kraken, Swan Bitcoin, etc.)
- Create account and verify identity
- Deposit money (bank transfer or card)
- Buy Bitcoin
- Transfer to your own wallet (recommended for security)
How do I store Bitcoin safely?
Best practices:
- Use a hardware wallet (Ledger, Trezor, Coldcard)
- Write down your seed phrase (backup) on paper
- Never share your private keys or seed phrase
- Use strong passwords and 2FA
- Start with small amounts while learning
Can I lose my Bitcoin?
Yes, if you:
- Lose your private keys/seed phrase (no backup)
- Get phished or hacked
- Send to wrong address (transactions are irreversible)
That's why security and backups are crucial. Lesson 5 covers this in detail.
How long do transactions take?
Bitcoin transactions typically confirm in 10-60 minutes (1-6 blocks). Lightning Network enables instant transactions for small amounts.
About Quarks & Rewards
What can I do with Quarks?
Use Quarks to:
- Play Bitcoin Arcade games
- Unlock advanced lessons (future)
- Enter tournaments (future)
- Redeem for Bitcoin (future)
Do Quarks expire?
No! Your Quarks are saved in your browser's local storage and don't expire.
Can I transfer Quarks to someone else?
Not currently. Quarks are tied to your browser session. Future updates may add user accounts and transferability.
Getting Help
I found a bug. How do I report it?
Contact us through:
- GitHub: github.com/hambomyers/BITCOIN-ARCADE-ZONE
- Main site: bitcoinarcadezone.com
Where can I learn more?
Check out our Resources page for books, videos, podcasts, and websites.
Is there a community?
Join the Bitcoin community:
- Reddit: r/Bitcoin
- Twitter: #Bitcoin
- Discord: Various Bitcoin servers
- Local meetups: bitcoin.meetup.com
Still have questions?
Start with Lesson 1 - it answers most beginner questions!