Bitcoin loses over a fifth of its value in less than 24 hours

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Bitcoin slid to as low as about Sh900,000 ($9,000) in volatile trade on Thursday, having lost more than a fifth of its value since hitting an all-time high of $11,395 on Wednesday. The cryptocurrency fell as much as eight per cent on Thursday on the Luxembourg-based Bitstamp exchange to hit about Sh900,000 ($9,000) exactly, marking a fall of well over $2,000 in under 24 hours. It then edged back up to trade at around Sh940,000 ($9,400) in the hour that followed, still down roughly 4 percent on the day. One…

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The Age of Cash is Almost Over

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A world without paper payments is rapidly approaching, the co-founder of the Sohn Conference Foundation said Thursday. Evan Sohn said that paying for things with traditional bank notes is increasingly dwindling as the appetite for contactless payments and digital currencies grows. “How far are we from a restaurant that says we only take online payment? If you eat here, you have to download this application and we only take electronic payment, no cash here, no check,” Sohn, who works in the payments industry, said on the sidelines of the Sohn…

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