Answers for Bitcoin listening

See the answers below for the listening exercise about Bitcoin. If you didn’t complete the lesson, please check here: Bitcoin listening before checking the answers and transcript below.

Transcript

Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network.

Bitcoin is one of the first successful implementations of a distributed crypto-currency, described in part in 1998 by Wei Dai on the cypherpunks mailing list. It is built upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities.

There are many advantages to bitcoins, for example they are sent easily through the Internet, without needing to trust any third party and also transactions are fast. However, unfortunately, transactions are also irreversible.

Information from wiki.

Answers

  1. instant
  2. central authority
  3. record
  4. fast
  5. irreversible

More Listening Lessons for IELTS

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Comments

  1. Taiwo Afolayan says:

    Thanks Liz for these free lessons. I got 5/5.

  2. Thanks Liz. . i got 4/5 in this bit coin listening.

  3. Dear Liz, thank you so much for providing these wonderful tips and helps. After going briefly through your website for about few days, my listening score jumped from 5.5 to 8, reading from 5.5 to 7, writing from 5.5 to 6.5 and speaking from 8 to 8.5. I have achieved the score required for professional registration. Thanks again.

  4. Chintan patel says:

    thanks liz for sharing such good listening

  5. Dear Liz
    Thank you so much for your listening post.

  6. Thanks Mam for your wonderful lectures. I learn everyday from you through your videos. God bless you. I got 5/5 in this test. Thank you for the tips.

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