https://news.bitcoin.com/south-african-drivers-can-now-pay-traffic-fines-in-bitcoin/A traffic fines administrator from the city of Alberton, South Africa has started accepting payments in bitcoin. Drivers from all over the country who wish to pay their tickets with the cryptocurrency can now do so via this new service.
Cornelia van Niekerk, the owner of Fines 4 u, serves about 500 businesses and 8,000 individuals for whom she manages the restitution of traffic violations. She told local media that she has been interested in bitcoin since June this year, and wanted to offer people who share her interest another opportunity to use their bitcoin in South Africa.
The service allows clients to get a price quote in bitcoin for paying the fines which are denominated in South African rand by the traffic police. The transfer to the authorities will be done in fiat, just as any other fine payment, with Van Niekerk making the exchange. She believes that the value of bitcoin will rise with time so she is not afraid of short term depreciation during the process. It is promoted as a faster and lower cost option compared to bank transactions.
Pay Fines or HODL?
I'd HODL, knowing SA the city would probably get the fine payment and then hold it themselves, it's not like there's anything they would really need to sell the Bitcoin for if they have enough revenue to surpass their operating expenses, and if they surpass their operating expenses they're going to sell it and miss out on the potential value. Just scrounge up some fiat and pay them in that form of wealth instead. They won't be missing the Bitcoin that they could be receiving. For now, anyways.