[2016-01-11] Bitcoin Remains Stable As South African Rand Loses Value

[jdebunt]

The world economy is still feeling the effects of turmoil originating from China, where the markets are still in chaos and investors are looking to liquidate assets at an alarming rate. As a result of this panic, other currencies are being affected as well, as it all comes down to finding a market with some liquidity. South Africa’s rand felt the brunt of that effect, as the currency lost a fair bit of value against the US Dollar. Bitcoin, on the other hand, kept a steady course.

http://bitcoinist.net/bitcoin-remains-stable-south-african-rand-loses-value/

[Kakmakr]

Did this happen due to the impact China has or rather poor government leadership? We have noted that the Minister of Finance was replaced and then the replacement got replaced within a few days. That country has some serious political problems with government leaders making political decisions and favoring party loyalists.

I still work on contracts there for my company and in other African countries, but things are getting weird in South Africa. They make the strangest decisions and seem to support Chinese and Russian companies more that Western companies these days.   

It is still a lovely country with good people and I like to travel there, when the company ask me to.