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If you have a great pair of earphones then these will enable you to enjoy your music at a much better quality than is otherwise possible.
If you are someone who really enjoys music and who has any interest in sound quality, then you are going to notice small differences between the quality of your sound, and even if you don't notice it you will on some level find it more immersive and moving when you can hear all the instruments working in unison with no background noise.
The best headphones can cancel out background noise, they can give you more clarity and they can support stereo.
However having great headphones is not all about listening to music at better quality and there are actually various other uses of earphones too that will allow you to get more out of them and to multitask and do a range of other things. Here are some other interesting things you can do which require headphones or benefit from them.
iDosers: iDosers are an interesting concept based on research surrounding 'brainwave entraining'. Basically the idea here is that you listen to two slightly different frequencies so that one is in each ear, and by doing this your brain should then automatically settle on the frequency that is exactly between these two in order to enable you to recreate various different brain states at will such as a meditative state or one of relaxation.
Of course this is something that is still being discussed and it's a controversial topic, but if you want to give it a go then there are places you can download some free samples to try.
Hypnotism Tapes: This is another option if you want to achieve a different brain state, the basic idea of which is that you listen to a hypnotic script capable of getting you to gradually revert into a more susceptible state where you will be open to suggestions that will get you to alter your behavior for the better.
Again there's no proof that this works, but it could be an interesting activity from a scientific curiosity perspective at least.
RJDJ: RJDJ is an augmented reality app for iPhone that has a very different take on the concept of AR. Normally AR means overlaying digital information over video from a camera, but in this case the combination involves sound instead. Here you listen to your headphones with speakers in and it will convert the normal sounds around you into warped versions of themselves in order to create a kind of music or 'soundscape' out of every day noise.
This way a rustle of a bag or a footstep can become a rhythm or a melody and it's a very unique experience.
Microphone: Stuck without a microphone but really need to record some sound in your computer? Well good news - if you plug your headphones into the microphone jack they can actually work in reverse. This is because they utilize the exact same reverberating plate to create the sounds, and the only difference is the software being run.