Consumer Catch-up: Bitcoin value falls, Facebook internet delays, Workers taking pay cuts

SAN FRANCISCO (KGO) -- Bitcoin hits record high, then drops steeply

The price of bitcoin fell more than $1,000 in just 10 minutes today, after hitting an all-time high of $11,000. Bitcoin is now trading around $9,300.

Few people have a good understanding of bitcoin, or electronic currency in general. One venture capitalist warns small-time consumer investors to stay away.

"There's a temptation for people who don't know a lot about it to try to buy into things that seem to go up," said Mike Rothenberg of Rothenberg Ventures. "Those are called bubbles. That's why it's so important to be cautious."

Rothenberg warns that the potential for digital currency to create value is high, but so is the potential to do harm.

Facebook high-speed Internet efforts delayed

Facebook's efforts to get into the high-speed Internet business are being hit with delays.

A pilot project with the city of San Jose was supposed to get off the ground in late 2016. Instead, our media partner The Bay Area News Group reports that issues with hardware, personnel changes, costs, and resources have slowed implementation.

The idea was to establish an outdoor public accessible gigabit-speed Wi-Fi network.

There's no word when the so-called "Terragraph Project" will officially be launched.

Facebook says it remains optimistic, but testing takes time.

Millennials willing to take pay cuts

More than any generation, Millennials are willing to take a pay cut to work for companies that most align with their values.

That's the finding of a MetLife survey of 1,000 employees from a wide range of professions.

Millennials say they are willing to take a pay cut of 34% to work at a company that support their views.

Overall, 9 out of 10 workers from all age groups say they would also be willing to take a salary decrease. The average pay cut all workers would take is about 21%. That includes even those employees who make less than $50,000 a year.
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