By Noralyn Dudt In one of the first recorded Bitcoin transactions in 2010, a hungry computer geek in Florida spent 10,000 of the cryptocurrency on a couple of takeaway pizzas. By late 2017, the cost of those pizzas at Bitcoin's then market price was close to US$200 million. Not too long after that, the leading crypto's market value surpassed many of the world's largest companies, including Boeing, Toyota and McDonald's. Unbelievable? Such a vast sum, yes for little value. Was it real ? Yes it was... but it didn't last long because it was just a bubble floating in the air. As with many other "bubbles" in the past this bubble also burst. Surely investors' initial giddiness and excitement was soon wiped out when they realized that their money was gone. But how can one explain such irrational and irresponsible thinking—that investing a dollar in something "in the air" would yield a million times in such a short time? It has to be
Online edition of The Ilocos Times, a community newspaper based in Laoag City, Ilocos Norte.