Our take on Bitcoins? In two words, they byte. Says LNWM Chief Investment Officer Bob Benson: “There’s really no way to accurately assess Bitcoin value. It’s a truly speculative market, and this why the Bitcoin exchange rate can change drastically in a matter of days.” Just as important, those using Bitcoins have little recourse should payment or transaction problems arise.

Says Bob: “Bitcoins are intriguing for many reasons. But they are a bet, not an investment.”

While we wouldn’t rush out to invest in Bitcoins any time soon, they’re fun to talk about, especially at cocktail parties. Below is a little quiz to get you up to speed on what’s billed as the world’s leading non-governmental currency (answers at bottom):

1. Name of person who supposedly founded Bitcoin:
A. Tyler Winklevoss
B. Futoshi Kobayashi
C. Elon Musk
D. Satoshi Nakamoto

2. The latest year the above figure communicated publically:
A. 2013
B. 2012
C. 2011
D. 2010

3. The maximum number of Bitcoins that can be newly issued (aka “mined”):
A. 60 every 60 minutes
B. 25 every 10 minutes
C. 60 every 30 minutes
D. None of the above

4. The number of Bitcoins recently in circulation:
A. Between 5 and 15 million
B. 20 million to 40 million
C. 50 million to 100 million
D. No one really knows; estimates vary widely.

5. The total number of Bitcoins possible (estimated to be achieved around the year 2140 at the earliest):
A. 100 million
B. 55 million
C. 21 million
D. No limit

6. Roughly, the recent value of 1 Bitcoin in U.S. dollars:
A. $50
B. $200
C. $800
D. $1,200

ANSWERS: 1=D; 2=D; 3=B; 4=A; 5=C; 6=C.
Source of data: Bloomberg Businessweek, January 13 – 19, 2014; and http://bitcoinexchange.org