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. The biggest criticism of cryptocurrencies is that they don’t get a lot of use as, well, currencies. With many investors in the space following a HODL strategy—short for Hold On for Dear Life—the accumulation of cryptocurrencies rather than their use to exchange goods and services seems a likely trend to continue for some time.
However, many companies are adding payment via cryptocurrencies, and now New Zealand has legalized payment of salaries in cryptocurrencies starting September first. The catch? The payments have to be in regular, fixed amounts, to get around the volatility. And, of course, income taxes have to be withheld. As long as the government can get its cut, the trend for increased cryptocurrency use seems likely.
If you're going to be dumb, you better be tough...