Painters have a reputation for not being the most tech savvy people, but with wider adoption in cryptocurrency comes great opportunities for painters.
If you’re a painter, and during your time off the roller, you like to tinker with technology, or even invest in the stock market for financial gains, you should buy some crypto.
Some being the operative word.
Spend just $50 on it, to see how it works. There is definitely a learning curve, but if you buy just $50 of cryptocurrency, then convert some of it to another “coin” you will be on your way to learning the ins and outs of using the new digital coin technology.
The goal of the exercise is to begin to learn how this new and quickly growing technology works. You should know how to use exchanges to change traditional dollars like the USD into one of the more popular cryptos like Bitcoin or Ethereum. You will discover things about blockchain technology, fees, transfer times, and the acronyms for many of the popular coins.
All technology can seem a bit scary when it is new. You might recall the first time you used a smartphone. Perhaps it was a little overwhelming for you at first, but now, you don’t even have to think about how to use it. It’ second nature and feels completely easy and natural. It wasn’t always like that.
It will be a challenge at first. You can do this.
The “Trust Layer” of the Internet.
The currency we use today is called fiat currency.
Initially, it was represented by printed pieces of paper and coins, and it was backed by something real, like gold, but today, the vast majority of it is digital transactions such as debit cards at point of sale, or “e-transfers” (electronic transfer) from computer to computer.
So, not much of it is cash, any longer, and the truth is, the majority of the fiat currency accounted for today on Earth does not even exist in physical reality.
It’s all just ones and zeroes. Now. In our current monetary system.
So, why is crypto referred to as the Trust Layer of the Internet?
Cryptocurrency runs on a technology called ‘blockchain’. It’s a technical way to ensure data is secure through encryption and protected throughout the transaction so that it is very difficult to “steal” the money as it travels from the buyer to the seller.
One of the benefits to the technology is that two people can make a transaction between them without a middle man. This removes traditional banking fees and increases the speed of the transaction. Think about wiring cash to someone with a bank wire: it can take several days and come with a hefty fee.
With cryptocurrency the fees are greatly reduced with no middleman and it can take only seconds or a few minutes.
Why should you learn about crypto?
2021 is shaping up to be a huge year for the crypto space. You may have heard that Elon Musk and his car company, Tesla, has secured a position in Bitcoin. He even tweeted about a coin called, DOGE, and on that very day, it rose in value almost 1,000%.
More and more companies are embracing the technology, including some mainstream investment brokerages, who are bringing large amounts of cash, but also, they have the trust of their investors to make this move.
We live in an era of change.
Let’s look at an extreme example of how this technology’s benefits make it something that’s here to stay. Read this article for a mind-blowing example.
Moving that much money in the current manner would take several days and possible costs tens of thousands of dollars in fees.
Okay, the technology is not ideal… yet, for small everyday purchases like a cup of coffee. A couple of years ago, so the story goes, someone bought a pizza with 2 Bitcoin. Today, you can buy 2,000 pizzas with 1 Bitcoin.
That’s why there are several (actually hundreds) of different cryptocurrencies out there, and the industry is evolving at an insane pace right now, and there are many compelling reasons for every company in the world to adopt this technology.
Why is this important for painters?
It’s totally understandable if you didn’t hear about Bitcoin in 2017, when it skyrocketed from around $1,000 USD up to $20,000. Hey, we all missed out on that one. It’s ok to cry a little. Even at that time, governments and large companies were shying away from it.
But this is changing now in 2021. Governments around the globe are developing their own blockchain-based currency, while many large companies are adapting Bitcoin into their own business model and accept Bitcoin as payment for their goods and services.
You can now purchase a Tesla car with Bitcoin.
So where does the paint industry fit in?
This question cannot be answered at this time, but one day, we will be able to answer it. Right now, all we can do is speculate.
It’s safe to imagine a world where a homeowner pays you, the painter, in Bitcoin, to acquire all of your materials, and do the work of painting. That’s a no brainer.
Right now, the crypto world is our oyster. Will there soon be a blockchain based technology that changes the paint industry forever?
What do you think? If you have any comments, questions, or tips at what’s coming, leave us a comment.