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

[joniboini]

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?

If you're talking about on-site transactions, probably not that much. But for international transfers, crypto could help them reduce the fees on payment processors. If that's not suitable for them then there's really no need to force it. At the end of the day, just because one or two groups don't benefit from it, doesn't mean others won't find crypto helpful too. Especially for businesses like VPN services, digital arts, or similar stuff where sellers usually don't meet up with buyers.

Personally, I use crypto to buy my entertainment needs. I pay stuff like online gaming subscriptions with crypto, top-ups, gift cards, etc. I believe the sellers also find it a good option for them since they keep the option there.

[Condorlaib]

At least this makes it possible not only to earn money but also to safely store your savings

[DrBeer]

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?

I will give my personal opinion, with explanations.
Until cryptocurrencies are officially recognized as a means of payment, as we understand, there will be no direct benefit in daily use.

But there is a second "side of the coin":
1. investment instrument. High-risk, but with good potential. And like any high-risk instrument, it can bring a surprise in the form of huge "X's" to the amount of investment..... But it can also bring the same losses
2. Cross-border payments, e.g. using stablecoins. To parents, children, wife, friends,.....  - very fast, easy and cheap.
3. As a technology, studying which, it is possible now and with a high probability, tomorrow, to get an interesting and highly paid job.
4. Permanent additional income - airdrop, reward for promotion, signature campaigns at the end of the day

[Peter90]

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.

Okkey, I'm with you 
I like also the example with XRP. I find XRP one of the few cryptocurrencies with a real functionality within the economy.

If you're talking about on-site transactions, probably not that much. But for international transfers, crypto could help them reduce the fees on payment processors.

Especially for businesses like VPN services, digital arts, or similar stuff where sellers usually don't meet up with buyers.

Personally, I use crypto to buy my entertainment needs. I pay stuff like online gaming subscriptions with crypto, top-ups, gift cards, etc. I believe the sellers also find it a good option for them since they keep the option there.

Okkey, international transfers, yes, I can follow

Re online business... still... what are the benefits of using crypto instead of bank wires?
For example, for your enternainments - and thanks for sharing your experience - why do you pay with crypto instead of - e.g. - credit card... PayPal... or bank wire?

I will give my personal opinion, with explanations.
Until cryptocurrencies are officially recognized as a means of payment, as we understand, there will be no direct benefit in daily use.

I think you killed the thread! 

[DrBeer]

I will give my personal opinion, with explanations.
Until cryptocurrencies are officially recognized as a means of payment, as we understand, there will be no direct benefit in daily use.

I think you killed the thread! 

I wanted the best, but it turned out like this 

In fact, the topic is “long-lived”, at least there is something to discuss, every point, there are also a lot of nuances, everyone has their own experience - both positive and negative. Moreover, the negative one is perhaps even more valuable! The positive one shows how you can theoretically earn money, and the negative one shows how you can definitely not lose it
Therefore, I propose not to close the topic, but to discuss everything that has already been said, in order to improve the competencies of the participants in the topic

[sampoerna]

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?

This will basically depend on each individual. Even the crypto business does not limit anyone who can enter it, regardless of whatever profession. being a teacher doesn't mean he's not a cryptocurrency trader or investor. Likewise with other professions. In fact, if they were involved in an exchange, wouldn't that be better because it could increase their professional income, which may still be very small? not for direct transactions but for investing or short term or long term or trading even though it is not night trading. So it's not based on who's profession it is but on whether each individual wants to enter the crypto world or not

[zilzylian]

Everyone who owns a business, coffee shop and shoe shop can use crypto for transactions in e-commerce or they can provide payment options using crypto for transactions according to their wishes.

like Visa, some people use debit card type of transactions for payment, I think it is easier to use crypto if coffee merchants can provide this option to customers

[Condorlaib]

Today, cryptocurrencies can no longer be ignored. Bitcoins, altcoins, coins and tokens are becoming increasingly popular among companies and individuals. Some people issue their own tokens, while others use cryptocurrency to accept payments. I'm sure the trend won't change

[Peter90]

Everyone who owns a business, coffee shop and shoe shop can use crypto for transactions in e-commerce or they can provide payment options using crypto for transactions according to their wishes.

Yes I know every business can use crypto as payment option.
I'm asking what would be the benefits of it vs. traditional payment options.

[TopT3ns]

Yes I know every business can use crypto as payment option.
I'm asking what would be the benefits of it vs. traditional payment options.

Payment using cryptocurrency is an alternative option when traditional payments cannot be made. Cases like this will be effective when there is a currency war, so there may be restrictions or prohibitions on the use of certain currencies so that alternative payments can switch to cryptocurrency.

[Peter90]

Payment using cryptocurrency is an alternative option when traditional payments cannot be made. Cases like this will be effective when there is a currency war, so there may be restrictions or prohibitions on the use of certain currencies so that alternative payments can switch to cryptocurrency.

Very good point TT
Cryptos can be used as means of payment when traditional payment - for whatever reason - cannot be used.


For example, the partnership between Kinesis and several governmental agencies in Indonesia.
I talked about it with user Dr.Beer in the thread Does crypto currency can save the economy?

According to statistics a considerable part of the Indonesian population - particular in the rural regions - is either unbanked or underbanked.
These people use the Persero, the Indonesian Postal Office in order to send money.
But everybody has a smartphone, so everybody will be able to use Kinesis gold-backed stablecoins.

Sending Kinesis currencies costs 0,45%
Converting gold/Indonesia Rupiah on the Kinesis Exchange costs 0,22%

Until today, those people weren't able to buy online, because being unbanked or underbanked they couldn't pay.
But if sellers has a Kinesis account, it will be possible for million of unbanked and underbanked people to buy online!

[Vx1]

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?

Nowadays, it has become an advanced and modern era, people with this profession can use this crypto as a side income in addition to income from their main job. 
The function of crypto is very broad, and it can cover all levels of society. 
And as time goes on, more and more people will get to know crypto and benefit from it.

[Dr.Bitcoin_Strange]

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, First of all, what I want you to understand is that crypto currency is not for everyone. What I mean is that crypto currency is not for those who don't think that they have any need for using it. Bitcoin is the most popular crypto on the market today, but do you believe that not everyone is using it?

From the list of people you have mentioned, you may feel that crypto doesn't serve any purpose for them, but you will find out what they think about crypto if you actually teach them what crypto is and also gift them some crypto assets.

What I am saying in conclusion is that Bitcoin and every other crypto can serve different purposes when they enter the hands of those who actually have good knowledge about what crypto currency is.

As a matter of fact, a grocery shop, a shoe shop, a car sale or repair shop, and any other business can decide to start accepting Bitcoin and crypto payments in their shop.

A nurse can decide to invest in crypto and will pass on the investment to their children or anyone else.

[TopT3ns]

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?

Nowadays, it has become an advanced and modern era, people with this profession can use this crypto as a side income in addition to income from their main job. 
The function of crypto is very broad, and it can cover all levels of society. 
And as time goes on, more and more people will get to know crypto and benefit from it.

What you say is quite true. As long as cryptocurrency still has the potential to generate profits, it must be done, for example, by participating in airdrops or anything that gives you payment in cryptocurrency for what you have done. Because to make money, of course, you don't always have to come from the real world.

[IyemRoker]

What's the point of the existence of cryptocurrencies for them?
How can or could cryptocurrencies serve them?

"Friendship". I want to have friendships across continents because perhaps only a few in my environment "understand" and have deep knowledge of cryptocurrency.
"Understanding" there is analogous to them rejecting the cryptocurrency business because it is full of ambiguity and this will be my motivation in the cryptocurrency space.
By continuing to be active on the altconstalks forum and continuing to learn about cryptocurrency from various people who really understand cryptocurrency, I will definitely have friends who are the same frequency.
It's not easy for me to continue being on the altcoinstalks forum because there are always obstacles and it takes up a lot of time for a mother who has a family and lots of real work, I always take 30 minutes or more to continue being active on the altcoinstalks forum so I can continue to make friends who Many people understand cryptocurrency.