Well, most ISPs don't give residential customers a static public IP address, so you can't do things like run a web server at home. There are a lot of things that require a static public facing IP and it can be very useful. With a static IP, you could be away from home and SSH into your home computer or access files on a home server.

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No way a five year old would’ve understood this. Cleared things up for me though, so thank you!