Beside trading, what's the point of cryptos for ordinary people and businesses?

[Peter90]

Traders, investors and crypto people in general - like the users of this forum - can use cryptocurrencies in order to make money... Ok
Financial institutions and companies can use cryptocurrencies for quicker and cheaper transfers... Ok

But for teachers, nurses and pensioners, for the grocery store at the corner, the shoes shop, the restaurant, the car repair shop... for these people and businesses what are cryptocurrencies good for? What could cryptos be good for?


They are not night traders. They have no idea what Binance and Coinbase are and they not even think about trading cryptos.
Ordinary people.

What's the point of the existence of cryptocurrencies for them?

How can or could cryptocurrencies serve them?

[Peter90]

For example, one of the answers is probably inflation.

I just read about Argentina: “Amid the economic challenges in Argentina, characterized by peso devaluation and high inflation, crypto adoption has surged as a practical solution for individuals seeking alternatives to navigate these issues”

[Zed0X]

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But for teachers, nurses and pensioners, for the grocery store at the corner, the shoes shop, the restaurant, the car repair shop... for these people and businesses what are cryptocurrencies good for? What could cryptos be good for?

These group that you call ordinary people can also take advantage of the uses of crypto. They can earn from trading and transfer their funds quicker and cheaper too but the problem is they have use it first. How good is crypto and how could it serve them if they do not adopt it? It's like you are asking how a cup is useful to a person who prefers to use his own hands to drink.

[Tribalchief]

This is indeed a very vital question you've raised here. As crypto ethusiast, we think that the adoption of crypto currency is more than 70% confirmed, but we fail to release that we are been deceived by the cycle we are in. Now back to the question.

But for teachers, nurses and pensioners, for the grocery store at the corner, the shoes shop, the restaurant, the car repair shop... for these people and businesses what are cryptocurrencies good for? What could cryptos be good for?

Most crypto ethusiast believes that you must know how a particular crypto work and every protocol that guides it, before making purchases or whatsoever. If this ideology is to be followed, then certain people like the nurses, teachers and pensioners won't find it neccesary.
Have you ever wonder why this people use our traditional banks and credit cards ?, Because they don't need to understand the protocol behind it.

So, if the above mentioned people don't see the need in learning the protocols that guides all these cryptocurrencies, then they can simply use it as a medium of transaction. Investment shouldn't be compulsory, but let it serve as a medium of transaction just like their credit cards and money in banks. This should also apply for those who are not educated.

In conclusion, the less complex it is, the quicker the adoption.

[Master107]

Cryptos is not limited to traders.

Water is not suitable for new born babies. They need milk to grow and for instance water is needed at the proper time since their bodies already in another level up to drinking some drinks for adult and foods too.

What's the point? Everything has its own perfect time to grasp and adopt particularly cryptocurrency.

What is Cryptos for them? Well, for me Cryptos for them is money. How do I explain money? Tangible and intangible. This is the normal trend which I am confident that a lot of people possess s9me idea with regards to cryptocurrency.

Some day, it will not be hard to embrace. It will become common in daily basis.

[Shahinaz]

they won't know what crypto is for if they don't want to know what crypto is
So don't ever force these people to get to know crypto


How can crypto serve them?
crypto will not serve those people who don't want to know about crypto without those people crypto will also continue to develop
So you don't need to think about people who don't want to enter the crypto world and find out the reasons

[Callisto]

For everyday people and small businesses, cryptocurrencies can also provide several significant benefits. They can be used for fast and cheap international transfers, provide access to financial services in places where banking services are limited, and serve as a store of value in times of high inflation. Cryptocurrencies provide decentralized access to financial resources, and smart contracts on the blockchain can simplify business processes. They can also promote financial inclusion by providing access to financial opportunities for those who were previously unable to do so. In short, cryptocurrencies can provide benefits to all participants in the ecosystem, regardless of their technical knowledge or business specificity.

[EluguHcman]

But for teachers, nurses and pensioners, for the grocery store at the corner, the shoes shop, the restaurant, the car repair shop... for these people and businesses what are cryptocurrencies good for? What could cryptos be good for?

The reality truth is that whoever that is not ready to trade or invests on the crytop doesn't have to receive payments through the crytop alternative means of payments/transaction because of its volatility potentials which has the tendencies of depreciations or appreciations in no given of times which could cause them lost of depressions but would only be excited of it when the transactions was either not count looses or their is an increment of the transaction which proffers the affirmed mentioned individuals an excitement.
Hence, aside the means of payments/transaction, every crytop earners are potentials of crytop investors so, there could also be possibilities of these mentioned individuals to adopt the system of the crytop currency trading and investment because they are not limited to be one of the beneficiaries.

[Sim_card]

Cryptocurrency is open to all and there is no limit within a particular set of people. You must not be a trader before you can buy any cryptocurrency of your choice. The most important thing is knowledge, if these set of people that you mentioned have interest on cryptocurrency, they will give it a try and don't think that it wouldn't be some of them zeal to adopt cryptocurrency. For small businesses, they can accept it as an alternative payment method because the can use it as a store of value to keep their money. I am from a third world country and there is high rate of inflation, so I save in bitcoin because it is an hedge against inflation. Also cryptocurrency like bitcoin gives financial freedom to its users. If governments legalize cryptocurrency, you will see that those category of people that you mentioned...teachers, small business, nurses will adopt it because they will be enlightened about the benefits attached to it, especially when it can be used as an investment.

[Ambatman]

Not all cryptocurrency have same function as Bitcoin. Blockchain itself can be applied by this so called ordinary people in their professions. Blockchain helps stores data and we can deny that all profession makes use of various data's. Crypto like ethereum were not created as a means of payment. It can be used to create smart contracts or tokens which various profession can use as a reward mechanism in respect to job performance.
In a nutshell, Cryptocurrency can be applied in all jobs but only few have adopted it. Due to its complexity in some cases and the lack of awareness by various individuals about cryptocurrency. Even while talking about Bitcoin, it was created to make an ordinary individual be their own bank. So we can see that they can apply it either as a store of value, means of payment (speed worse than fiat) or for investment purpose. Nobody said a teacher or nurse can't invest.

[TopT3ns]

Not all cryptocurrency have same function as Bitcoin. Blockchain itself can be applied by this so called ordinary people in their professions. Blockchain helps stores data and we can deny that all profession makes use of various data's. Crypto like ethereum were not created as a means of payment. It can be used to create smart contracts or tokens which various profession can use as a reward mechanism in respect to job performance.
In a nutshell, Cryptocurrency can be applied in all jobs but only few have adopted it. Due to its complexity in some cases and the lack of awareness by various individuals about cryptocurrency. Even while talking about Bitcoin, it was created to make an ordinary individual be their own bank. So we can see that they can apply it either as a store of value, means of payment (speed worse than fiat) or for investment purpose. Nobody said a teacher or nurse can't invest.

It is true that not all cryptocurrencies can be used for all of life, but if Bitcoin is used for work, then it is very dangerous because Bitcoin price movements are unpredictable and very volatile, making the exchange rate unstable, and it seems less suitable if used for a payroll system because the fear is that when there is bad news, the price will easily collapse and the exchange rate will fall so that employees cannot get the appropriate exchange rate.

[Peter90]

These group that you call ordinary people can also take advantage of the uses of crypto. They can earn from trading and transfer their funds quicker and cheaper too but the problem is they have use it first. How good is crypto and how could it serve them if they do not adopt it? It's like you are asking how a cup is useful to a person who prefers to use his own hands to drink.

The cup with the hands... perfect metaphor!!! 


"They can earn from trading and transfer their funds quicker and cheaper..."
Let's keep trading and transfer separated, then I can play with that thought (because in order to take advantage of quick and cheap transfers offered by cryptocurrencies... people don't need to learn to trade, they don't need to become traders).

So, this is where I agree with you: ordinary people - e.g. businesses - can profit from quick and cheap transfers.
Ok, but since I'm not very smart, let me ask: how specifically? Could you make an example?
How could a shoes seller profit from crypto's quick and cheap transfers?

 

[Peter90]

... talking about inflation ...


                                         

[ABCbits]

But for teachers, nurses and pensioners, for the grocery store at the corner, the shoes shop, the restaurant, the car repair shop... for these people and businesses what are cryptocurrencies good for? What could cryptos be good for?

At least for businesses, they could accept cryptocurrency as payment method (assuming it's legal on their country) if they think it could increase their sales. As for price volatility concern, they could either sell received coins quickly or use 3rd party payment gateway which perform conversion automatically.

[Zed0X]

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"They can earn from trading and transfer their funds quicker and cheaper..."
Let's keep trading and transfer separated, then I can play with that thought (because in order to take advantage of quick and cheap transfers offered by cryptocurrencies... people don't need to learn to trade, they don't need to become traders).

That was my intention. Separate the two.

So, this is where I agree with you: ordinary people - e.g. businesses - can profit from quick and cheap transfers.
Ok, but since I'm not very smart, let me ask: how specifically? Could you make an example?
How could a shoes seller profit from crypto's quick and cheap transfers?

I'm not so smart myself but I'll share the little things I understand.

Shoe seller scenario: 
1. Cheap transfers mean lesser expenses compared to traditional banking processes. I think that's enough.
2. Quick transfers could mean more time saved and faster product turnover. A bank transfer could take 3-5 days to clear while crypto (XRP for example) could be processed in minute/s. So imagine if the seller buys new items/stocks and doesn't have to wait for days before his payment is received by the shoe manufacturer, his orders would arrive earlier than usual, and possibly sell them sooner. The time saved could result in higher monthly sales/revenue.