Re:Warren Buffett: Bitcoin Is Pure FOMO
by TheCoelacanth on Wednesday December 27, 2017 @12:15PM
(#16016180)
South Sudan is hardly typical of Africa, though. In 2017, it had the single highest score on the Fragile States Index (formerly called the Failed States Index) of any country in the world.
Hear, hear. Meanwhile in remote areas of Africa, this is more like what functions as currency:
"If you're in South Sudan and something big happens in your life — you get married, you buy property or pay a penalty for a crime — cows are most likely involved. Cows are currency and credit card and bank account rolled into one. In South Sudan, banks can go bankrupt — cows are more reliable. At least that's how it used to be."
From Planet Money: https://www.npr.org/sections/money/2017/11/15/563788464/epis...