First thing i will do if Bitcoin become legal tender globally

[Ojima-ojo]

We all will agree that most countries around the world have had a misconception about bitcoin which has lowered the rate of Bitcoin adoption globally, various countries with their own mode of Bitcoin view the authoritarian states like china will have a total ban on Bitcoin even though it is an impossible thing since bitcoin is decentralized uncontrollable and independent.

Even with all this, Bitcoin has continued to consistently thrive to pursue its true mandate and even though a few numbers of Bitcoin adopters and bitcoin have been perceived as illegal, and public display of Bitcoin can be prosecuted through states laws that ban Bitcoin authoritatively e.g china and other countries in Africa and other part of the world that have one or two regulations.

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

[1715331089]

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[tranthidung]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

Globally accepted is different than globally legal tender.

Globally legal tender means if someone uses bitcoin to buy your goods at your store, you are not allowed to reject.
Globally accepted means you are free to accept or reject bitcoin as a payment method at your store.

Think more deeply, globally accepted does not mean it will be accepted every where on Earth, at all nations and all locations. Like the US. dollar which is a global currency but maybe you won't be able to use it at every location globally.

[dimonstration]

I believe I will open my own business and accept Bitcoin as payment method since people will surely excited to use Bitcoin for their purchase. There will be a demand for business that accepts Bitcoin that time which is very good to earn more profits from the Bitcoin craze.

Also buying goods on our super market using Bitcoin as direct payment is cool. Imagine you are going on the wet market to buy fresh fish while local sellers accepts Bitcoin payment for small purchase. I just hope that transaction fee that time will be cheaper through the use of more developed lightning network because there will be a problem on huge fee if this kind of mass adoption really happened.

[bittraffic]

I believe I will open my own business and accept Bitcoin as payment method since people will surely excited to use Bitcoin for their purchase. There will be a demand for business that accepts Bitcoin that time which is very good to earn more profits from the Bitcoin craze.

Also buying goods on our super market using Bitcoin as direct payment is cool. Imagine you are going on the wet market to buy fresh fish while local sellers accepts Bitcoin payment for small purchase. I just hope that transaction fee that time will be cheaper through the use of more developed lightning network because there will be a problem on huge fee if this kind of mass adoption really happened.

A lot of businesses will also be accepting BTC, it's a race to accumulate BTC locally and not through trading which is really at the adoption level with LN makes tx fees close to nothing.

I might also provide services accepting BTC, I have plans to do it a long time ago but none in my neighborhood knows BTC either. But if all things come and people in my area learn to use BTC, I will definitely start selling aquarium fish with BTC.

[jokers10]

Mostly nothing: I guess there will be lots of steps previously, so I will do all I want much earlier then it becomes a global currency. Now already I spend fiat money first if I have enough on everyday purposes (and it could be one of effects of adoption). I'm sure I could spend bitcoin directly in most cases years before it will be globally adopted as different stores are starting accepting it all the time. So I have no exact plans on that day.

[uneng]

I will continue doing what I already do at this moment. Probably just would increase the frequency I use BTC as currency for payments, but in general not too much would change, because Bitcoin represents a main role in my financial life nowadays, even though we don't have BTC accepted as legal tender in my country.

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

Well, there are many public mining farms on the internet, where people use their CPU/GPU power to earn fractions of satoshis. That is not profitable at all...

I suggest you focusing on the call center which will allow people clearing their doubts out and acquiring knowledge about the best crypto and financial practices. Mining farm is a risky investment and many people willing to do this have already lost money, due to the costs of the mining operation being superior to the income made mining cryptocurrencies, so be careful.

[Ojima-ojo]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

Globally accepted is different than globally legal tender.

Globally legal tender means if someone uses bitcoin to buy your goods at your store, you are not allowed to reject it.
Globally accepted means you are free to accept or reject bitcoin as a payment method at your store.

There is indeed a difference between legal tender and globally accepted, I may have used the two phrases misconceptionally but now I know since you pointed t my attention that and you also made a vivid explanation of both phrases.

Globally adopted then will lead to a more wider discussion so I will edit the part and replace it with the right phrase since legal tender is more or less limited in scope since it only refers to just a country e.g El Salvador made bitcoin a legal tender sometimes in 2021

[Rruchi man]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

First thing is that I will be  excited about it definitely, and then plan to increase the amount of bitcoins I have.

With the acceptance, there will be lots of persons who will be seeking for how to learn more about bitcoins, I will try to fill in that gap by providing free lectures and seminars around me where people can learn the basics and also basic safety practices with the bitcoins they have. I understand scammers can take advantage of those seeking to learn about bitcoins and buy bitcoins, so the free lectures and seminars can help in reducing the number of victims.

This is another action that can be adopted by other forum members when bitcoins become globally accepted.

[franky1]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

Globally accepted is different than globally legal tender.

Globally legal tender means if someone uses bitcoin to buy your goods at your store, you are not allowed to reject.
Globally accepted means you are free to accept or reject bitcoin as a payment method at your store.

Think more deeply, globally accepted does not mean it will be accepted every where on Earth, at all nations and all locations. Like the US. dollar which is a global currency but maybe you won't be able to use it at every location globally.

correct

to refine your point

being legal tender mainly means its treated as a currency which means a nations government can apply its currency laws to it. this means they can then regulate it

yep bitcoin 2009-2014 was defined as private property. much like for instance pokemon cards that could be swapped without hassle from government intervention.
as soon as countries declared it a legal currency. government stepped in with their regulation of businesses/services that were swapping btc. by defining those businesses as money service businesses thus those businesses needed to get licences and follow policies and such.

yes you dont need to get a government to determine btc is legal tender for btc to "go global"
however the laziness of accelerating global use by being an legally acknowledged currency in a country, comes at a cost of allowing that government to underpin some rules of using said currency

[klidex]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

If Bitcoin can be legalized as a legal means of payment globally then I prefer payment using fiat currency and will keep Bitcoin until it really reaches a very high price because with Bitcoin being used globally automatically many people adopt it and make its supply exhausted so that it becomes rare and has a high selling value.
But it seems like it will take a very long time for Bitcoin to be accepted legally globally considering that there are several countries that are still anti and prohibit crypto users in any form. However, I am sure that one day Bitcoin will be accepted in various places and countries.

[sbrys]

Probably opening a bank that stores BTC for customers 

Also start lending some that I don’t have to create virtual extra BTC and ask to repay more. If it fails I will ask government to bail me out 😊

If all goes south Somebody will create a new system

[BitcoinPanther]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

As much as I would love to open a mining farm, my country electricity charges is too high to profit from the said activity.  I guess I will continue what I have been doing with my BTC and that is using it to pay for services or products online.  I am too lazy to setup stores that accept Bitcoin because I don't have interest in establishing them and it needs a lot of work to maintain the service.  So yeah, I will be just another Bitcoin user.

[ajiz138]

I am very pessimistic about this, but I will be happy if this really happens globally.

The first thing of course in my business it will be used in bitcoin payments and everyone will be happy if all the shops also accept this, but the important thing for me is to accumulate as many bitcoins as possible because this is part of my goal, but with various products on sale/ buying with bitcoin will make it easier for us to do it, then what about fiat money? It is difficult for people to leave because of their physical form because of their comfort so far.

We will see in the future how the new system will operate.

[franky1]

but lets play scenarios..

in a world where bitcoin is common and allowed
countries with higher electric will not be mining centres of industry.
these countries will try to accumulate coin via investment spot market and also through retail acceptants via merchants/supermarkets/businesses

counties with low electric will become mining centres where majority of accumulating coin will be via mining and less so from market investment and merchant acceptance

this is becasue if they can mine in say norway at $17k/btc and hawaii at $90k/btc

norway wont want to local-domestically use btc at supermarkets at $17k local value rate . because retailers will want to  sell goods at the $17k area as thats its local value... so you wont see many miners want to spend btc locally if they can sell their coin for higher on international exchange speculative spot markets

hawaii cant mine so they will buy cheaper on speculative spot markets and then happily use as currency domestically in supermarkets knowing their mining market sees bitcoin worth upto $90k but able to buy products for less than this and supermarkets happy to accept less than this

[Yatsan]

I believe I will open my own business and accept Bitcoin as payment method since people will surely excited to use Bitcoin for their purchase. There will be a demand for business that accepts Bitcoin that time which is very good to earn more profits from the Bitcoin craze.

Also buying goods on our super market using Bitcoin as direct payment is cool. Imagine you are going on the wet market to buy fresh fish while local sellers accepts Bitcoin payment for small purchase. I just hope that transaction fee that time will be cheaper through the use of more developed lightning network because there will be a problem on huge fee if this kind of mass adoption really happened.

But have you looked with the possibility that even if Bitcoin would be accepted to more countries, the demand won't be as big as with iur expectations? Like at the present to counteies wherein it is already accepted; many people are still not engaging because they are simply worried with their welath in relation to market price volatility. And I somehow agree, in terms of businesses and payments. As long as the prices of your products are fiat based, there won't be an aquity between price and capital because profit would be conditional. Think of buying a $5 pants in btc. If your capital is $3 in fiat (assuming that you bought it thru fiat), and you are planning to sell it in btc for $5. If there is a bullish trend market value won't be stationary, it could either be loss or profit. And same thing goes with the ideology of doubt towards using this technology in businesses.

[serjent05]

But have you looked with the possibility that even if Bitcoin would be accepted to more countries, the demand won't be as big as with iur expectations?

But I am sure that the demand would be way bigger than the demand right now.  After all, we are talking about global acceptance.

Like at the present to counteies wherein it is already accepted; many people are still not engaging because they are simply worried with their welath in relation to market price volatility.

 

But isn't the price volatility one of the reasons why Bitcoin become a sensational topic for investors and traders?  If the hindrance as country's restriction is lifted, I am sure more and more people will come to trade Bitcoin.

And I somehow agree, in terms of businesses and payments. As long as the prices of your products are fiat based, there won't be an aquity between price and capital because profit would be conditional. Think of buying a $5 pants in btc. If your capital is $3 in fiat (assuming that you bought it thru fiat), and you are planning to sell it in btc for $5. If there is a bullish trend market value won't be stationary, it could either be loss or profit. And same thing goes with the ideology of doubt towards using this technology in businesses.

The volatility of the price in relation to business establishment had long been solved.  Converting Bitcoin real-time will remove the worry you are stating.  And in the given scenario of this thread, I believe fiat currency and Bitcoin will work for hand in hand here.

[DoublerHunter]

~snip~
WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

^Becomes worldwide currency like fiat, all stores, and online merchants are free to use BTC and must accept BTC.
Probably Satoshi Nakamoto is happy to see that his/their creation was successfully accepted worldwide as their goal because you can purchase BTC anywhere by increasing the number of BTC ATM machines everywhere in your place since it is fully legal.
I will do nothing with my BTC, hold some spend some because that is the reason why BTC was created to become an alternate to fiat that no one entities that control.

[Pmalek]

We all will agree that most countries around the world have had a misconception about bitcoin which has lowered the rate of Bitcoin adoption globally, various countries with their own mode of Bitcoin view the authoritarian states like china will have a total ban on Bitcoin even though it is an impossible thing since bitcoin is decentralized uncontrollable and independent.

The way the all mighty and powerful nations view bitcoin is no different in China than it is in The EU or the USA. Don't make the mistake to think that. They all see BTC as a threat to their own economy and the never-satisfied hunger they have for control. A nation with the freedom to choose their own money isn't their agenda. Expect more and more centralized and government-owned national currencies to pop up in the future. Especially in the civilized western democracies.

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

It already is globally accepted, but this question of yours doesn't fit in with the subject. No currency is global tender and bitcoin won't be either. I don't know where you live, but is there a government agency there that can prevent me from sending BTC to an address you give me? Is there one in China, Afghanistan, Cuba, Nigeria...? No one needs to give you permission to accept bitcoin. The code and software gives you the needed access rights.     

[PrivacyG]

Realistically speaking.  I would probably not change my behavior.

I can use Bitcoin today as if it was legal tender.  I can take care of most of my monthly expenses with it.  Only thing changing is I would not need to purchase Gift Cards to pay for stuff.  I would not need to access Third Parties to pay for some expenses.  And I would not need a Cryptocurrency Debit Card.  So what changes is I would save a few dozen dollars monthly.

Do you really think everyone would go crazy if Bitcoin became legal tender.  Realistically most of them will not care.  Skeptics will go on with their skepticism.  Haters will keep on hating.  Bitcoin will continue living.  That is it.

-
Regards,
PrivacyG

[Wakate]

The way I. Looking at it, I don't think Bitcoin would ever be generally excepted looking at the way way many countries had been antagonizing the adoption of Bitcoin. There are some countries who had already bam Bitcoin activities including mining and investing in Bitcoin. It is just too bad for now that the government are planning to regulate Bitcoin which is against the original goal why it was invented.

I hope soon the government would see good reasons of investing and going for the adoption of Bitcoin which is going to be a huge success to all endeavours to ensure that people are good reasons why to invest in Bitcoin.

[franky1]

The way I. Looking at it, I don't think Bitcoin would ever be generally excepted looking at the way way many countries had been antagonizing the adoption of Bitcoin. There are some countries who had already bam Bitcoin activities including mining and investing in Bitcoin. It is just too bad for now that the government are planning to regulate Bitcoin which is against the original goal why it was invented.

the BIS GHOS (bank of international settlements governors/supervisors) set the main rules of central banks reserves, collateral and settlements
they have a draft to allow central banks to invest upto 2% in decentralised cryptos like bitcoin. (the banks first petitioned the BIS for 5% but the BIS conceded to allow 2%). this wont become their policy until 2025. but is a sign that central banks(nations government banks) want bitcoin
(they have separate %/categories for other cryptos like stable coins)

https://www.pymnts.com/cryptocurrency/2022/bis-sets-limits-on-bank-exposure-to-crypto-markets/

[suzanne5223]

I have always dreamed of having a hardware wallet store and also joining the official hardware wallet reseller network but the stance of the government in my country towards cryptocurrency restricted me from the dream.
If it happens that Bitcoin becomes legal tender globally, I will pursue the dream and also create a business network that will accept Bitcoin as payment.

[Fivestar4everMVP]

Bitcoin becoming a globally accepted decentralized digital currency is a dream which I believe will be a reality some day, but the only thing that bothers me is that, it might take a very long time for this to happen, there is no way every country in the world will turn and make bitcoin an accepted means of buying and selling, it's a thing that will happen gradually from country to country and the span between one country saying yes to bitcoin and the other doing to same might stretch up to a year or even more..

But if eventually I am still alive when bitcoin becomes a global currency like the us dollars, I don't think there is anything I will do other than to just enjoy the benefits it brings.

[glendall]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

no denying I will definitely be happy if that happens, but I will not make payments with bitcoin if making everyday purchases I will probably use / spend my bitcoins on certain products only, I prefer to keep my bitcoins secret and exchange to fiat if i need money

[nullama]

We all will agree that most countries around the world have had a misconception about bitcoin which has lowered the rate of Bitcoin adoption globally, various countries with their own mode of Bitcoin view the authoritarian states like china will have a total ban on Bitcoin even though it is an impossible thing since bitcoin is decentralized uncontrollable and independent.

Even with all this, Bitcoin has continued to consistently thrive to pursue its true mandate and even though a few numbers of Bitcoin adopters and bitcoin have been perceived as illegal, and public display of Bitcoin can be prosecuted through states laws that ban Bitcoin authoritatively e.g china and other countries in Africa and other part of the world that have one or two regulations.

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

You know that you can do that right now?

You don't need permission from anyone, and anyone in the world can pay with Bitcoin to anyone right now.

There's no need to wait for making Bitcoin legal tender anywhere, it's already here. You can pay and receive payments with Bitcoin from all around the world.

[serveria.com]

Wow, that would be HUGE! I guess first thing I'd do is cash out some fraction of my stash because if Bitcoin would be accepted as legal tender globally it would skyrocket well above $100k! That would be fun! 

[Jawhead999]

Nothing,

When Bitcoin has been accepted globally become a legal tender, it mean the demand of Bitcoin will be very high and I believe the price already hit at least one million USD. I don't think Bitcoin would suffer bear market since any country already trust and believe in Bitcoin, so the longer you hold your coin, you will make a lot profit in the future. But it's still a dream or imagination, I still hard to believe if Bitcoin can be accepted everywhere, although El Salvador accepting Bitcoin as legal tender seems to become a prove if any dream or imagination is possible to happen.

[romero121]

My choice will be accepting bitcoin into the business. I'll also encourage others to add bitcoin acceptance into the business. Even now people around have got good understanding, but the legality issue still prevails. Very few countries have officially revealed the legality status where rest of the countries just stay without making any decision. So, the legality reveal will make more common people start using bitcoin without any fear. To reach such an universal legal status it'll take atleast a generation.

[8rch7]

I have always dreamed of having a hardware wallet store and also joining the official hardware wallet reseller network but the stance of the government in my country towards cryptocurrency restricted me from the dream.
If it happens that Bitcoin becomes legal tender globally, I will pursue the dream and also create a business network that will accept Bitcoin as payment.

In the country where you live now bitcoin is well received, most likely in a few years later bitcoin will become a legal tender globally, you can do whatever you want and can plan from now on what you will do, you can collect as many bitcoins as you can also accept bitcoin payments in your shop, but I personally don't think that way at all, because in my country the people's mindset has not been upgraded, just investing in stocks is said to be gambling let alone bitcoin, even to currently bitcoin transactions in my country are very small, only one percent of world transactions.

[Rigon]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

If bitcoin spreads like internet all over the world what I will do for me is I will set up a beauty parlor soap and a restaurant and residential hotel. There I will launch cryptocurrency transactions. There people will expect to go and pay with crypto currency. I'll invent something weirder out there to attract people. I will introduce huge commission system for those who will trade through cryptocurrency. Every week I will do lottery system. Every week I will announce winners among my customers and distribute prizes to them. This way I will discover everything I need to improve my business model.

[Wexnident]

Nothing. I don't think it'd have that much of a big impact on what I'd do, I'm already using it in the first place anyway, and it doesn't exactly change anything in general when it comes to paying for products/services. Heck, I reckon it wouldn't even affect most people that much, even if they were owners of Bitcoin. Might be different for countries that don't allow it though, though tbf, they can't exactly stop you if you really wanted to buy/use it.

For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

You should be able to do that even now though. There are some countries that don't allow it but they're in the minority afaik, all in all, you should still be able to.

[jokers10]

no denying I will definitely be happy if that happens, but I will not make payments with bitcoin if making everyday purchases I will probably use / spend my bitcoins on certain products only, I prefer to keep my bitcoins secret and exchange to fiat if i need money

You can have as many addresses as you wish so why not to have some small amount addresses for everyday purposes and not to show your main addresses? You can use some of mixers if you want to hide the links between your addresses: if you are not hiding from some big organization like government or huge corporation it will be probable enough secure, if bitcoin will be used worldwide to that moment.

[dothebeats]

There really is not much I would like to do if bitcoin becomes globally accepted. Even now, you will see a lot of merchants and people willing to accept bitcoin in exchange for their goods or services. They are just few and far in between, so it will be a tough task to use your bitcoins in that regard. But, overall it'll just be the same even if we see a surge of merchants and governments open in accepting bitcoin the next day. You'll just have a lot of choices on where to spend your bitcoins, nothing more.

[Lucius]

~snip~
WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

You are living in an illusion, because if that were to happen, all the countries of the world would recognize that Bitcoin is equal to their national currencies - do you think the US, the UK, or maybe Japan would ever make such a move? Every normal country protects its national currency because it guarantees the stability of the country and a strong economy.

As for your move in case a miracle happens, does the law now prevent you from opening a mining farm? Bitcoin is legal tender in only two countries, and as far as we can see, this does not create difficulties for any mining farm anywhere in the world. Besides, a mining farm is not an investment of a few hundred $ or maybe a few thousand $, so I think your real problem is financing, not whether Bitcoin will become legal tender globally.

[Ojima-ojo]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

no denying I will definitely be happy if that happens, but I will not make payments with bitcoin if making everyday purchases I will probably use / spend my bitcoins on certain products only, I prefer to keep my bitcoins secret and exchange to fiat if i need money

Privacy is one of the thing that make me to love Bitcoin because even if bitcoin is globally accepted as a legal tender, we will still have some bitcoin holders who will prefer being anonymous to staying private.

Not wanting to spend your Bitcoin on everything day spending is the best decision to make, most especially at a time when we do frequent buying.

To avoid fees and unnecessary conversion of funds, one needs to make provision for only emergency bitcoin spending aside from that USD and other fiat currencies are best suitable for such transactions.

[Erumo]

If Bitcoin becomes a legal tender globally, I think I and other wont do anything special. Why do you anyone think that this should be celebrated specially? OK, I agree that opening a bottle of champagne is acceptable. But going crazy spending? I think Bitcoin owner does not like much attention from authorities. I think people will continue live their normal life. They will simply be granted and access to sort of a "extra plastic card to make purchases". Most of users here already are familiar of how to turn crypto to fiat quick and save. So I expect nothing much from that globalization. 

[imamusma]

Privacy is one of the thing that make me to love Bitcoin because even if bitcoin is globally accepted as a legal tender, we will still have some bitcoin holders who will prefer being anonymous to staying private.

Bitcoin is not anonymous, transactions can be tracked as all transactions are stored on the blockchain.
You can obscure transaction history only if you use a mixer or something, but bitcoin are not anonymous in basic. You need to read few things about how to protect your privacy with bitcoin even if your identity behind the address is unknown to anyone until disclosed.

You can read: Protect your privacy or here are some of the highlights.

• Understanding Bitcoin traceability
• Use new addresses to receive payments
• Be careful with public spaces
• Your IP address can be logged
• Limitations of mixing services
• Future improvements

Not wanting to spend your Bitcoin on everything day spending is the best decision to make, most especially at a time when we do frequent buying.

There are actually two principles for someone who buys bitcoin: First, bitcoin as an investment/trade and second, bitcoin as a means of payment. These two users have different mindsets about what bitcoin are for and how they spend them. If you're using bitcoin just to pay for something, then you probably won't even think about why you should be holding it.

[AmoreJaz]

If Bitcoin becomes a legal tender globally, I think I and other wont do anything special. Why do you anyone think that this should be celebrated specially? OK, I agree that opening a bottle of champagne is acceptable. But going crazy spending? I think Bitcoin owner does not like much attention from authorities. I think people will continue live their normal life. They will simply be granted and access to sort of a "extra plastic card to make purchases". Most of users here already are familiar of how to turn crypto to fiat quick and save. So I expect nothing much from that globalization. 

first and foremost, i believe such situation will only happen theoretically as i don't think many countries will give up their fiat. but fine, if btc will be a legal tender, then great! yes, you don't need to celebrate extravagantly, just do your things that you think you can take advantage of the situation. as the government will have hard time tracking their people about their btc's dealings, some will indeed use this to hide from paying taxes, who knows? so do you really think most governments will agree to this situation?

[nullama]

Probably would be easier to receive money from around the world delivering services through the web.

I mean, of course you can do that today with Bitcoin and credit cards, but with credit cards they take a big chunk, and not many in the world are using Bitcoin.

But if the entire world is using Bitcoin?, yeah, that would make it better to get money for services around the world. At least 3% or so better as there won't be any chargeback and commissions to banks.

[Vaskiy]

Probably would be easier to receive money from around the world delivering services through the web.

I mean, of course you can do that today with Bitcoin and credit cards, but with credit cards they take a big chunk, and not many in the world are using Bitcoin.

But if the entire world is using Bitcoin?, yeah, that would make it better to get money for services around the world. At least 3% or so better as there won't be any chargeback and commissions to banks.

Big money gets saved and will be in the pocket of common man. Banks make good money through the transactions support and they have control over the users money.

Once everything gets legal I'll have a banking system to support the people who find it hard to invest and buy cryptocurrencies. Simply this will serve as the bitcoin bank, however it is not good. But I prefer doing it to help people who are not good with technology.

[fuguebtc]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

If after bitcoin is widely accepted around the world and bitcoin retains its volatility, then I don't think too much will change for me. I will continue to accumulate and invest in bitcoin and will probably use it to pay for a place that accepts bitcoin.
In my opinion, bitcoin adoption globally is going to happen soon, but I do not believe bitcoin adoption will become legal tender globally, that is just not going to happen, they are two completely different concepts.

[crunck]

The problem is bitcoin will never become a global legal tender, legal tender means bitcoin is considered an official currency, I don't think countries like US or china will do that. They are not stupid enough to let bitcoin kill their national currency, and I don't expect that to happen because then it's more likely that bitcoin will become stable.

[KennyR]

The problem is bitcoin will never become a global legal tender, legal tender means bitcoin is considered an official currency, I don't think countries like US or china will do that. They are not stupid enough to let bitcoin kill their national currency, and I don't expect that to happen because then it's more likely that bitcoin will become stable.

Maybe that's true, when bitcoin is accepted all around the world surely this will tend to have the stable market. This is completely against the equation of the innovator. Even the users are much attracted by the volatile nature of the market. Countries want their control over the people's money and for the same they fear of the bitcoin and are into developing their own CBDC.

[Gallar]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

if bitcoin is accepted like the internet, it will be a special happiness for me, and will be a breath of fresh air for bitcoin investors.
and if bitcoin is legal all over the world, maybe I will invite my friends or relatives to join in bitcoin investment, because now bitcoin in my country is still not very open, so I better not teach bitcoin to anyone except my family.

[Sebas.tian]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

I will start accepting Bitcoin as a payment in my business, which I know it will help me to improve in profits making and to have more customers around My business in the environment. Many people are afraid of moving money to some companies to purchase raw materials to process their products which it will be an opportunity for such people to use the opportunity to purchase any kind of raw materials and pay with Bitcoin since Bitcoin is fully legalized in the country. I think, I will achieve so much money from my business because many business men will not have idea on that particular system of accepting Bitcoin as a payment.

[posi]

The problem is bitcoin will never become a global legal tender, legal tender means bitcoin is considered an official currency, I don't think countries like US or china will do that. They are not stupid enough to let bitcoin kill their national currency, and I don't expect that to happen because then it's more likely that bitcoin will become stable.

Maybe that's true, when bitcoin is accepted all around the world surely this will tend to have the stable market. This is completely against the equation of the innovator. Even the users are much attracted by the volatile nature of the market. Countries want their control over the people's money and for the same they fear of the bitcoin and are into developing their own CBDC.

Honestly, if bitcoin is accepted all over the world and becomes stable, I would rather accept the present because if bitcoin is stable, it really isn't attractive anymore. Most of the 99% of us are here for the profit it brings, not because of the technology or the decentralization it gives us. People are putting profit first, and then it's technology.
But I wouldn't have to worry about that because bitcoin won't become legal tender worldwide, it's almost impossible. A power like the US will never let any currency replace the dominant position of the USD.

[yazher]

I will just start to use bitcoins to pay for anything I buy in the market and in other stores to make it more regular and for the people to get used to it. It's a good idea anyway because I don't have to worry to bring a bag of cash just to go to the market and at the same time, I can pretend as if I am not bringing any money with me.

The least we can do if that's gonna happen is not use fiat anymore to fully support bitcoins or minimize on using fiat so that the banks will no longer have the authority to control our money and it's gonna e total freedom for us.

[Marvell1]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

For now, bitcoin is still an investment asset for me, so if that happens, nothing will change, bitcoin is still my preferred choice in my portfolio. Additionally, once bitcoin becomes legal tender, meaning we can use bitcoin for payments anywhere in the world, I just like everyone else use it as a payment method. I never intended to open a Bitcoin mining farm like you, but I will definitely step up to invest in bitcoin because then it really becomes as safe as gold.

[Maestro75]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

Because bitcoin is digital money it can not be globally accepted as a legal tender. But it can be globally known or heard of. Countries already have their different legal tenders and some of them are going to see accepting bitcoin for replacement as a let down to their countries. The internet is globally accepted because it has no competition and people see how helpful it is.

For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

How is that going to be possible in a country without steady electricity supply or you do not know that setting up a bitcoin mining farm is largely dependent on that?

[Obari]

I've been having similar thoughts on what I will really do if Bitcoin gets accepted globally but on the other hand, my country has been one of the countries that kicks against the use if Bitcoin and this only has been one of the major reasons while we have been suffering in the crypto Industry.
But answering your question, I was hoping on starting a physical exchange shop for my Bitcoin transactions if Bitcoin becomes a global legal tender and not just a global legal tender but if it atleast gets accepted in my local country.

[Erumo]

If Bitcoin becomes a legal tender globally, I think I and other wont do anything special. Why do you anyone think that this should be celebrated specially? OK, I agree that opening a bottle of champagne is acceptable. But going crazy spending? I think Bitcoin owner does not like much attention from authorities. I think people will continue live their normal life. They will simply be granted and access to sort of a "extra plastic card to make purchases". Most of users here already are familiar of how to turn crypto to fiat quick and save. So I expect nothing much from that globalization. 

first and foremost, i believe such situation will only happen theoretically as i don't think many countries will give up their fiat. but fine, if btc will be a legal tender, then great! yes, you don't need to celebrate extravagantly, just do your things that you think you can take advantage of the situation. as the government will have hard time tracking their people about their btc's dealings, some will indeed use this to hide from paying taxes, who knows? so do you really think most governments will agree to this situation?

A lot of people awaits the moment when Bitcoin will be a legal tender in the States, Russia and China. Imho, its is not a big deal if small countries starts accepting Bitcoin legally. Take a look on Salvador. Is cryptocurrency community receiving huge benefits or feeling still very happy about Bitcoin there? People wait when three huge whales, on which world stands on, makes Bitcoin legal. Will States, Russia and China ever give up on their national currency? I guess we will never know. When this really happens, then people would really do a lot and crazy or memorable things. Till then, many will only celebrate it with only posts on the forums.

[gunhell16]

I believe I will open my own business and accept Bitcoin as payment method since people will surely excited to use Bitcoin for their purchase. There will be a demand for business that accepts Bitcoin that time which is very good to earn more profits from the Bitcoin craze.

Also buying goods on our super market using Bitcoin as direct payment is cool. Imagine you are going on the wet market to buy fresh fish while local sellers accepts Bitcoin payment for small purchase. I just hope that transaction fee that time will be cheaper through the use of more developed lightning network because there will be a problem on huge fee if this kind of mass adoption really happened.

Why don't you try to start a business now and do what you say, dude, the other merchants in different countries are already doing what you say even if it's a small business in traditional business.

Even in El Salvador, what you say is already being done as legal tender currency in this country apart from the plan you say. And I also think that everyone's acceptance of bitcoin is different in my opinion.

[fadhilz123]

if bitcoin is accepted like the internet, it will be a special happiness for me, and will be a breath of fresh air for bitcoin investors.
and if bitcoin is legal all over the world, maybe I will invite my friends or relatives to join in bitcoin investment, because now bitcoin in my country is still not very open, so I better not teach bitcoin to anyone except my family.

Telling more people around you about Bitcoin for me is not too important because they still don't necessarily want to listen to it and accept it like they accept fiat money. But telling Bitcoin stuff to my own family I think is the right thing to do because whatever we are facing in this world is definitely the first group that will see us is the family so it's not wrong if you tell Bitcoin to your own family before telling things it to someone else.

[jokers10]

Big money gets saved and will be in the pocket of common man. Banks make good money through the transactions support and they have control over the users money.

Once everything gets legal I'll have a banking system to support the people who find it hard to invest and buy cryptocurrencies. Simply this will serve as the bitcoin bank, however it is not good. But I prefer doing it to help people who are not good with technology.

Hope there will be enough apps and hardware devices for even not so involved people will have an opportunity to do their finances without any banks. Bitcoin was made to not to have need in a third party like bank. Hand on heart bank system is easier and cozier than bitcoin, but bitcoin gives you an opportunity to control your own money. Banks are for old fiat system, crypto should work without third parties.

[S A KHAIR]

No need to wait for bitcoin to become legal tender, as long as my country accepts bitcoin, I will immediately make bitcoin a means of payment for my business. I will have a preferential policy for customers if they use bitcoin to pay at my business. I really look forward to this in my country.

[kryptqnick]

If (when) Bitcoin becomes legal tender in my country, I will designate a wallet for daily expenses which won't have much in it but will be convenient to use on a phone, and I'll go to a grocery store to buy my basic set of food for a couple of days with this money. To me, that would be a ritual to feel the difference. I don't see it in a business-oriented way like the op does. I would just be happy that we're at that point, even if it's not global but gets more widespread than it currently is. I don't believe that Bitcoin will be as widespread as the Internet, though. Especially if we consider how much time people spend online and time they can spend with Bitcoin. However, I do think we'll see more countries allowing it as a form of payment.

[_BlackStar]

There are actually two principles for someone who buys bitcoin: First, bitcoin as an investment/trade and second, bitcoin as a means of payment. These two users have different mindsets about what bitcoin are for and how they spend them. If you're using bitcoin just to pay for something, then you probably won't even think about why you should be holding it.

But in fact, current bitcoin users tend to buy bitcoin because of their interest in investing ^{[short term or long term].} I don't entirely blame his passion, but basically bitcoin was created as better currency than fiat.

I'm investing more in bitcoin than adopting it as a means of payment, but it's always possible for me to spend some of it to pay for something online even if I have to make cross-border transactions. It's obviously possible for anyone, but the two principles you're talking about are what I agree with.

[xSkylarx]

The first thing you should do is purchase a bitcoin, as you will need it to spend on items that fiat currency cannot purchase on that time. Though I can't really think what I will do at that time, I was thinking what will happen to the price at that time; is it going to stabilize? or drops or increases its price. However, if this becomes legal tender, many people will mine it in the same way that we mine gold and other valuable gems in our world. You will know for certain that time that it will be cashless transactions and you will not see any paper money or coins because we are all using bitcoin. 

[Agbe]

We all will agree that most countries around the world have had a misconception about bitcoin which has lowered the rate of Bitcoin adoption globally, various countries with their own mode of Bitcoin view the authoritarian states like china will have a total ban on Bitcoin even though it is an impossible thing since bitcoin is decentralized uncontrollable and independent.

Even with all this, Bitcoin has continued to consistently thrive to pursue its true mandate and even though a few numbers of Bitcoin adopters and bitcoin have been perceived as illegal, and public display of Bitcoin can be prosecuted through states laws that ban Bitcoin authoritatively e.g china and other countries in Africa and other part of the world that have one or two regulations.

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

Yes..some countries even call it bad money or scammers idea. I don't believe that china is authoritatively ban bitcoin, I am sensing something that china is play a game of disguise. A friend of mind was discussing with me when I visited him in the city, he said, China is among the creation of bitcoin and here people are saying that china bans bitcoin, yes it is possible that they ban it but they are using it to create anonymity. Nobody can stop bitcoin because they didn't control the coin but the coin is control by the owner of the wallet.
Bitcoin is already global accepted but not global used (global legal tender), it is when legal tender globally then the use of bitcoin will be interesting. Even without globally accepted you can still have your mining farm. This is the best time.

[Bitstar_coin]

Well first thing first, walk up to any store to buy cold  drink with my btc wallet to confirm it to be true,  because as a global legal tender I expect every local stores to receive the announcement and immediately start accepting btc for transactions.

What will follow is accepting btc in my business or perhaps request to get paid with btc in my place of work (that will be cool) and just enjoy having btc as a legal tender. 

[imamusma]

But in fact, current bitcoin users tend to buy bitcoin because of their interest in investing ^{[short term or long term].} I don't entirely blame his passion, but basically bitcoin was created as better currency than fiat.

I'm investing more in bitcoin than adopting it as a means of payment, but it's always possible for me to spend some of it to pay for something online even if I have to make cross-border transactions. It's obviously possible for anyone, but the two principles you're talking about are what I agree with.

I don't see any problem with their interest, but they just need to know that bitcoin is not only used as an investment asset, but also a currency and legal tender in several countries. I also admit that many people are not bitcoin adopters as a means of payment, but they are traders and investors who use bitcoin to make profit.

But before, I think you need to correct your quote to make it correct, _BlackStar.

[suzanne5223]

I have always dreamed of having a hardware wallet store and also joining the official hardware wallet reseller network but the stance of the government in my country towards cryptocurrency restricted me from the dream.
If it happens that Bitcoin becomes legal tender globally, I will pursue the dream and also create a business network that will accept Bitcoin as payment.

In the country where you live now bitcoin is well received, most likely in a few years later bitcoin will become a legal tender globally, you can do whatever you want and can plan from now on what you will do, you can collect as many bitcoins as you can also accept bitcoin payments in your shop, but I personally don't think that way at all, because in my country the people's mindset has not been upgraded, just investing in stocks is said to be gambling let alone bitcoin, even to currently bitcoin transactions in my country are very small, only one percent of world transactions.

Let us be sincere and clear on this topic. The op is just making an assumption about what people will do if Bitcoin becomes legal tender globally but the reality despite the potential of Bitcoin there's no way the Feds and the institution will allow Bitcoin to be legal tender globally and the only thing they will welcome is to plan to regulate the possible aspect of the market.
About how people feel towards Bitcoin in your area, every investment is gambling no matter how good it may look.

[Ebede]

What anybody will do if a bitcoin become illegal tender is personally known to that person because I believe that there is no time bitcoin will become a legal tender because of the challenges of government has given to bitcoin so bitcoin it will take many more years before it can take at least 35% of the world so and he is very very difficult for such to happen but that is what you are praying for for be done to become bigger than that but the possibility is very high

[dansus021]

if become global legal tender i will open up service like p2p crypto to fiat, the most hit if bitcoin become legal tender is export and import and global market financial system since they usually do transaction by using US dollar but now they using bitcoin cut a dozen of lot of fee. and transaction across border become easy

[BALIK]

The first thing you should do is purchase a bitcoin, as you will need it to spend on items that fiat currency cannot purchase on that time. Though I can't really think what I will do at that time, I was thinking what will happen to the price at that time; is it going to stabilize? or drops or increases its price. However, if this becomes legal tender, many people will mine it in the same way that we mine gold and other valuable gems in our world. You will know for certain that time that it will be cashless transactions and you will not see any paper money or coins because we are all using bitcoin. 

Based on all the things you have said, I believe that bitcoin will never become a legal tender in all countries around the world. It will never become the world currency. Because all governments would never want their fiat money to disappear or be worthless, especially the major powers. Fiat and its value represent the economic strength of a country, so its complete elimination will never happen. But bitcoin is accepted globally, this may happen in the future.

[nullama]

~snip~
Based on all the things you have said, I believe that bitcoin will never become a legal tender in all countries around the world. It will never become the world currency. Because all governments would never want their fiat money to disappear or be worthless, especially the major powers. Fiat and its value represent the economic strength of a country, so its complete elimination will never happen. But bitcoin is accepted globally, this may happen in the future.

The thing is that Bitcoin is already accepted worldwide. Since genesis actually.

Anyone in the world can generate a key for free. That means that anyone in the world can start selling and buying goods and services with anyone else in the world with Bitcoin.

You don't need permission from any government to do that.

For example, in 2013 the governor of the central bank of Australia said:

In December 2013, the governor of the Reserve Bank of Australia (RBA) indicated in an interview about bitcoin legality stating, "There would be nothing to stop people in this country deciding to transact in some other currency in a shop if they wanted to. There's no law against that, so we do have competing currencies.".

[_BlackStar]

I don't see any problem with their interest, but they just need to know that bitcoin is not only used as an investment asset, but also a currency and legal tender in several countries. I also admit that many people are not bitcoin adopters as a means of payment, but they are traders and investors who use bitcoin to make profit.

I also don't think there is problem with reasons why any user buys bitcoin, I mean your bitcoin are yours and you are free to spend them on whatever you want. Likewise with other users, they are free to hold it as an investment asset or trade it.

The point is that bitcoin itself gives you full rights in terms of managing it, including whether you want to use it as an investment asset, or currency or a means of payment. And of course, bitcoin is a fully decentralized currency that gives you the right to parent it yourself without any authority control ^{[as long as you don't trust centralized third party].}

But before, I think you need to correct your quote to make it correct, _BlackStar.

Yeps, I fixed it - thanks.

[LogitechMouse]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

First of all, lets look at the quick definition of legal tender on this one:

Legal tender is the national currency, such as paper money and coins, that is declared by law to be valid payment for debts and financial obligations.

I bolded the phrase "that is declared by law" because in order for a specific currency to be a legal tender, it must be declared by the law.

I agree with what they said that "legal tender globally is different from globally accepted". Legal tender means it will be a national currency that is declared by the law and on the other hand, globally accepted means people will accept it whatever the circumstances it will be and there is no law between it.

One thing more is that, I don't see Bitcoin as a legal tender because at first place, the government isn't the one who is creating it and we already saw the definition of legal tender. How will a currency like Bitcoin can be a legal tender if the government didn't do it? Bitcoin will not be a legal tender, but it will be globally accepted if people will starting to accept it.

[Woodie]

china and other countries in Africa and other part of the world that have one or two regulations.

China is a different world when it comes control but for Africa I think these are places that have the does open for the technology as they have more to benefit from it... Btw aren't the biggest economies already using bitcoin, South Africa, Nigeria etc

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

Going in for the money, but such an undertaking will require some good capital injection because a Bitcoin farm doesn't come cheap!

Btw I think bitcoin and the internet are incomparable as bitcoin is a substitute to fiat while the internet was bringing efficiency and simply rewriting history.

[jokers10]

Let us be sincere and clear on this topic. The op is just making an assumption about what people will do if Bitcoin becomes legal tender globally but the reality despite the potential of Bitcoin there's no way the Feds and the institution will allow Bitcoin to be legal tender globally and the only thing they will welcome is to plan to regulate the possible aspect of the market.
About how people feel towards Bitcoin in your area, every investment is gambling no matter how good it may look.

Bitcoin is not just an investment asset, it is a decentralized financial system which anyone can use if wants. And we see how different countries adopt bitcoin as a payment system. So maybe if we look at the world of nowadays nothing will be totally worldwide. But if we talk about adoption by majority it looks possible. So IMO if some minority of countries will still not adopt bitcoin we'll can still say that it is adopted worldwide.

[nullama]

~snip~
Bitcoin is not just an investment asset, it is a decentralized financial system which anyone can use if wants. And we see how different countries adopt bitcoin as a payment system. So maybe if we look at the world of nowadays nothing will be totally worldwide. But if we talk about adoption by majority it looks possible. So IMO if some minority of countries will still not adopt bitcoin we'll can still say that it is adopted worldwide.

Absolutely.

Bitcoin is available to the entire world (connected to the Internet) since genesis.

Really everyone can participate of Bitcoin freely, they just need to say they accept Bitcoin, and the other person sends the Bitcoin for the goods and services.

There's no need for countries to accept Bitcoin, you only need 2 people, the seller and the buyer. And they can be anywhere in the world.

[Andrew1788]

Bitcoin is available to everyone, it's time to start making money on it

[Nolik_19]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

Globally accepted is different than globally legal tender.

Globally legal tender means if someone uses bitcoin to buy your goods at your store, you are not allowed to reject it.
Globally accepted means you are free to accept or reject bitcoin as a payment method at your store.

There is indeed a difference between legal tender and globally accepted, I may have used the two phrases misconceptionally but now I know since you pointed t my attention that and you also made a vivid explanation of both phrases.

Globally adopted then will lead to a more wider discussion so I will edit the part and replace it with the right phrase since legal tender is more or less limited in scope since it only refers to just a country e.g El Salvador made bitcoin a legal tender sometimes in 2021

Yes, but it will be necessary to think in a slightly different format, since with this moment, many other spheres will appear

[pawanjain]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

Open a mining farm ? Do you know how much time, effort and investment it costs to open a mining farm ?
May be you have more than enough money for that but you will still have to put in the time and effort.
If bitcoin becomes a globally accepted legal tender then it would open doors for cross border business opportunities.
So the possibilities are endless. I haven't thought it through but I would certainly end up opening a business for myself using bitcoin.

[suzanne5223]

Let us be sincere and clear on this topic. The op is just making an assumption about what people will do if Bitcoin becomes legal tender globally but the reality despite the potential of Bitcoin there's no way the Feds and the institution will allow Bitcoin to be legal tender globally and the only thing they will welcome is to plan to regulate the possible aspect of the market.
About how people feel towards Bitcoin in your area, every investment is gambling no matter how good it may look.

Bitcoin is not just an investment asset, it is a decentralized financial system which anyone can use if wants.

Only a naive Bitcoiner won't know that Bitcoin is not just an investment asset because its purpose of it was to be a decentralized electronic cash system, not even an investment asset. According to Satoshi Nakamoto's first introduction of Bitcoin he says "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party."
It's we the Bitcoiner of today that make it an investment asset which is expected since there's more adoption of Bitcoin.

And we see how different countries adopt bitcoin as a payment system. So maybe if we look at the world of nowadays nothing will be totally worldwide. But if we talk about adoption by majority it looks possible. So IMO if some minority of countries will still not adopt bitcoin we'll can still say that it is adopted worldwide.

Don't let's feel ourselves with false information by ignoring the fact that if the minority adopt Bitcoin we can still say it is adopted worldwide. How many countries adopt Bitcoin as a payment system? If we count it we have just about 11 and only 2 legalized Bitcoin as legal tender.
If the payment system, CEX, and DEX that will work in the majority you mentioned is not going to be regulated adoption is not possible by the majority

[dezoel]

I do not think that I would do much differently. I mean if it was legal tender in my nation, then I would pay things with bitcoin instead of fiat, that's for sure, but the rest would be the same.

Right now, I spend my salary as little as I could, and save my money to keep it in bitcoin, and that means if I end up with a legal tender society, I would simply just not turn my bitcoins into fiat, will keep them in bitcoin and will go on living like that as long as I possibly could. That's not really a huge change from where I am today though, it is something that I would highly suggest doing even today if you can pay anything with bitcoin, then you should but aside from that it's not a big change.

[nullama]

I do not think that I would do much differently. I mean if it was legal tender in my nation, then I would pay things with bitcoin instead of fiat, that's for sure, but the rest would be the same.

Right now, I spend my salary as little as I could, and save my money to keep it in bitcoin, and that means if I end up with a legal tender society, I would simply just not turn my bitcoins into fiat, will keep them in bitcoin and will go on living like that as long as I possibly could. That's not really a huge change from where I am today though, it is something that I would highly suggest doing even today if you can pay anything with bitcoin, then you should but aside from that it's not a big change.

That's true.

At the end of the day you can pay with Bitcoin or fiat, it doesn't make much difference as you can always buy back the same amount of Bitcoin with fiat, and therefore you end up with the same amount saved in Bitcoin.

That's the key though, saving in Bitcoin instead of saving in fiat.

Having just cash for a long time is simply a bad idea as it will devalue over time.

Sure, having a bit of a buffer for fiat expenses is fine, but that buffer needs to be increased after a while because of inflation.

[jokers10]

...
Don't let's feel ourselves with false information by ignoring the fact that if the minority adopt Bitcoin we can still say it is adopted worldwide. How many countries adopt Bitcoin as a payment system? If we count it we have just about 11 and only 2 legalized Bitcoin as legal tender.
If the payment system, CEX, and DEX that will work in the majority you mentioned is not going to be regulated adoption is not possible by the majority

It's about pessimistic and optimistic approaches: you say that just 11 countries adopted bitcoin, I say that 11 countries adopted bitcoin already and there are many countries in which is allowed what is not prohibitet.

And by the way I don't like when bitcoin becomes a legal tender, its idea is to provide an alternative, a possibility, and not to force to be used. So when it is permissed by law IMO is better then when it becomes mandatory.

[Henrobakkara]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

If after bitcoin is widely accepted around the world and bitcoin retains its volatility, then I don't think too much will change for me. I will continue to accumulate and invest in bitcoin and will probably use it to pay for a place that accepts bitcoin.
In my opinion, bitcoin adoption globally is going to happen soon, but I do not believe bitcoin adoption will become legal tender globally, that is just not going to happen, they are two completely different concepts.

I however believe that Bitcoin global adoption has already happened but "not going to happen soon" as you said. I don't believe that Bitcoin is not known globally and has also been HODL and traded globally which to me means, it is adopted globally. However, I believe OP was thinking of a Global legal tender for Bitcoin which might not happen, going by the definition of legal tender cos I don't see the Global Government adopting Bitcoin over their Currencies. 

[Flexystar]

I am wondering why op is waiting for the legal tender if they can really start right now with their own mining farm. I dont think it is illegal to open a mining business as long as you are paying taxes for that business with legal business set up in the location where it is accepted.

If someone is setting up a mining farm then it could be either huge setting or small one. If it is later one then there is no harm running few miners in the back garage really. If it is big one then one can always go in the location where its completely legal to mine. In fact businesses keep doing this to benefit from the most viable rules and regulations.

Also if global adoption happens then lets celebrate, we will be the old players by that time with loads of bitcoins. 

[Ojima-ojo]

I am wondering why op is waiting for the legal tender if they can really start right now with their own mining farm. I dont think it is illegal to open a mining business as long as you are paying taxes for that business with legal business set up in the location where it is accepted.

If someone is setting up a mining farm then it could be either huge setting or small one. If it is a later one then there is no harm in running a few miners in the back garage really. If it is a big one then one can always go to the location where it's completely legal to mine. In fact, businesses keep doing this to benefit from the most viable rules and regulations.

Also if global adoption happens then let's celebrate, we will be the old players by that time with loads of bitcoins. 

Without being legal, even running a few nodes in the back garage could pulse a risk as the authorities may get hints on you for getting involved in illegal operations, so the issue of approval from the government may also witnesses some form of setback since not just paying of tax that makes of for business operation legality we still have other factors contributing to that.

And if the country does not legalize bitcoin, I am afraid citizens will just have to avoid its public usage to avoid persecution from the government.

[alastantiger]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

I like your line of thought at OP and I often times pondered on it too. Sometimes, I abandon the though when it feels like wishful thinking but one thing that keeps ringing in my head is that the day bitcoin is becomes a legal tender globally is the day that bitcoin becomes heavily regulated worldwide. I do not want it to be a legal tender globally, there's too many downsides to it. I mean it will lose it's power and become no different from the dollar or Pounds sterling or even Euros.

[coolcoinz]

Bitcoin isn't illegal in the EU so if I wanted to do something like OP (open my own mining farm) I could. Saying that you'll do it when it becomes widely accepted seems strange because by that time mining difficulty will be very high and there won;t be many coins left to mine. We also don't know what the price of electricity will be at that time and the cost of mining is going up every year. This would probably be the last thing on my mind in 10 years or so.
When it becomes globally accepted the price will probably be enormously high so the first thing I'll do is book myself a flight to some remote island, rent a cabin and read a book listening to crashing waves. I don't have any business in mind. I'd rather have some fun than start a business.

[mendace]

Bitcoin isn't illegal in the EU so if I wanted to do something like OP (open my own mining farm) I could. Saying that you'll do it when it becomes widely accepted seems strange because by that time mining difficulty will be very high and there won;t be many coins left to mine. We also don't know what the price of electricity will be at that time and the cost of mining is going up every year. This would probably be the last thing on my mind in 10 years or so.
When it becomes globally accepted the price will probably be enormously high so the first thing I'll do is book myself a flight to some remote island, rent a cabin and read a book listening to crashing waves. I don't have any business in mind. I'd rather have some fun than start a business.

It is true that Bitcoin and other cryptocurrencies are not illegal in the EU, and you would be able to open your own mining farm if you wanted to. However, as you mentioned, there are several factors to consider before embarking on such a venture.

First, mining difficulty is likely to be very high in the future, which would make it more difficult and expensive to mine new coins. Additionally, the cost of electricity, which is a major component of the cost of mining, is also likely to increase over time.
You also mentioned that you would rather have fun than start a business. It's important to keep in mind that starting a mining farm is a significant undertaking that would require a significant investment of time and money. It's important to consider whether you have the resources and the desire to take on such a project.

You also pointed out that when Bitcoin becomes globally accepted the price will probably be very high, and you would like to book yourself a flight to some remote island and read a book listening to crashing waves. This is a personal decision and it's important to do what makes you happy.
Although personally I don't think Bitcoin reaches such a very high value as to make us all rich.  Rather, I think that if we don't spend our Bitcoins, the price will hardly increase and mass adoption will take place.

[nullama]

~snip~
It is true that Bitcoin and other cryptocurrencies are not illegal in the EU, and you would be able to open your own mining farm if you wanted to. However, as you mentioned, there are several factors to consider before embarking on such a venture.

First, mining difficulty is likely to be very high in the future, which would make it more difficult and expensive to mine new coins. Additionally, the cost of electricity, which is a major component of the cost of mining, is also likely to increase over time.
You also mentioned that you would rather have fun than start a business. It's important to keep in mind that starting a mining farm is a significant undertaking that would require a significant investment of time and money. It's important to consider whether you have the resources and the desire to take on such a project.

You also pointed out that when Bitcoin becomes globally accepted the price will probably be very high, and you would like to book yourself a flight to some remote island and read a book listening to crashing waves. This is a personal decision and it's important to do what makes you happy.
Although personally I don't think Bitcoin reaches such a very high value as to make us all rich.  Rather, I think that if we don't spend our Bitcoins, the price will hardly increase and mass adoption will take place.

The thing is that if Bitcoin keeps simply being exchanged back and forth with fiat, then there's no real threat to fiat.

The problem for fiat appears when people stop using fiat and instead start trading goods and services directly with Bitcoin, without needing to use any fiat.

If you decrease demand for fiat, you will have more purchasing power with your Bitcoin.

[mendace]

The thing is that if Bitcoin keeps simply being exchanged back and forth with fiat, then there's no real threat to fiat.

The problem for fiat appears when people stop using fiat and instead start trading goods and services directly with Bitcoin, without needing to use any fiat.

If you decrease demand for fiat, you will have more purchasing power with your Bitcoin.

Yes, that is correct. Bitcoin and other cryptocurrencies have the potential to disrupt traditional fiat currencies by providing an alternative means of exchange for goods and services. If more people begin to use Bitcoin as a means of payment, it could lead to a decrease in demand for fiat currencies and a corresponding increase in the purchasing power of Bitcoin. However, it's important to note that this is still a hypothetical scenario and it's uncertain if and when it will happen.

[Maxre]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

Globally accepted is different than globally legal tender.

Globally legal tender means if someone uses bitcoin to buy your goods at your store, you are not allowed to reject.
Globally accepted means you are free to accept or reject bitcoin as a payment method at your store.

Think more deeply, globally accepted does not mean it will be accepted every where on Earth, at all nations and all locations. Like the US. dollar which is a global currency but maybe you won't be able to use it at every location globally.

I can agree with you mate because legally all over world for Bitcoin is way impossible to imagine and that's because there is nothing else in the world ever that has been accepted in whole world all at once. So we can say that Bitcoin might be accepted 50% to 70% in all over world by once century when most of people might live in outer space. So I can say that If digital crypto might be accepted than all of fiat currency 💲💵 will be dumped and no one might use it.

[The Cryptovator]

Personally, I believe it would take a hundred years before Bitcoin was accepted as legal tender everywhere. because some large nations are opposed to adopting it and making it legal tender. Making Bitcoin legal tender while allowing its use is not the same. However, I will first authorize and accept Bitcoin as a payment method for my business if it is accepted everywhere in the world as legal tender. I'm now unable to do it because it is illegal in my nation. When we can accept Bitcoin, that's how we can grow our little business internationally.

[Faisal2202]

Your question is really a considerable point to be noted so that we can be ready in future. Well if btc got legal tender globally than what can i do, nothing if you want to do something its right now, maybe hodl them or whatever but when things will be streamlined some people will not tend to walk on that road i hope you understand my point. On the other hand BTC is going to become a legal tender because of many technology is like specially metaverse and then web 3. There are more to lists. But for now these will streamline it regulatory restrictions

[mendace]

Your question is really a considerable point to be noted so that we can be ready in future. Well if btc got legal tender globally than what can i do, nothing if you want to do something its right now, maybe hodl them or whatever but when things will be streamlined some people will not tend to walk on that road i hope you understand my point. On the other hand BTC is going to become a legal tender because of many technology is like specially metaverse and then web 3. There are more to lists. But for now these will streamline it regulatory restrictions

Your point is well taken - it's important to be prepared for the future, and it's important to take advantage of opportunities as they arise. If Bitcoin becomes a legal tender globally, it may not change much for those who are already holding it, but it could potentially increase mainstream acceptance and use of the cryptocurrency. The potential adoption of Bitcoin as a legal tender is tied to the development and adoption of new technologies, such as the metaverse and web 3.0, which may help to streamline regulatory restrictions and increase mainstream acceptance. However, it's important to note that the future of Bitcoin as a legal tender is uncertain and it depends on various factors such as government regulations and market conditions.

[jokers10]

...
However, it's important to note that the future of Bitcoin as a legal tender is uncertain and it depends on various factors such as government regulations and market conditions.

Bitcoin's idea was to make something decentralized and free of enforcement. Why should be expect that some governments will force to use it as a legal tender? Don't we believe that bitcoin is competitive enough to become used worldwide even if just not to ban it by law? As from my point of view, it is much better when countries adopt permissive legislation for bitcoin for free use it as what people want and not making it a legal tender.

[Odusko]

Your question is really a considerable point to be noted so that we can be ready in future. Well if btc got legal tender globally than what can i do, nothing if you want to do something its right now, maybe hodl them or whatever but when things will be streamlined some people will not tend to walk on that road i hope you understand my point. On the other hand BTC is going to become a legal tender because of many technology is like specially metaverse and then web 3. There are more to lists. But for now, these will streamline its regulatory restrictions

The indice of Bitcoin varies from nations to nations like in my country, bitcoin is not totally ban and at that, and even though bitcoin is not publicly officially adopted as a legal currency its usage is allowed.
Bitcoin awareness has spread quite well among the youths in my country since they now adopt bitcoin as a mean to move ahead high rate of unemployment as bitcoin trading has generated a lot of work and the educated youth are becoming self financial stability, so already there is an underground awareness and planned event for public adoption like in my case.
The first thing I will do if bitcoin is acceptable in my country's financial system, I will like to own a BTC (POS).

[BitcoinMoses]

Bitcoin is not Illegal Tender .  Why Bitcoin need to be Legal Tender  ?   Bitcoin is Global Decentralised Cryptocurrency Tender.

I don't think Bitcoin need to be like a legal tendered fiat currency. Just treat bitcoin as the digital asset. Let the government regulate Bitcoin trading but no government can regulate Bitcoin and Bitcoin Transaction. It is completely self regulated. Bitcoin is not a fiat currency that need to be legally tendered after minting by the central bank.

[Tommiewill]

I wonder if the supply of Bitcoin is enough for us? If people all over the world use Bitcoin for daily payments, what will the prices be like? Are global prices the same?
The privacy of Bitcoin protects our personal safety very well. Although I would love for Bitcoin to become a global legal tender, I don't think it is realistic.

[wiss19]

I don't think it's a misconception are the ones that they feel but they are only lack of understanding about Bitcoin. Some of them does this intentionally. They can't just accept that Bitcoin is better than their fiat creations and then they can't control Bitcoin. Even though BTC is decentralized, it is still possible for it to be banned. China and others have in fact already done that long time ago and some of them still unbanned BTC.

In which country you are living now huh @OP? As long as BTC is allowed there then you can always start your plan. There is no need for you to wait before BTC becomes a legal tender in your country or on every other countries because BTC being a legal tender doesn't have to do with mining. It's about BTC can be used directly to purchase goods.

[Smartvirus]

being legal tender mainly means its treated as a currency which means a nations government can apply its currency laws to it. this means they can then regulate it

Without considering the globalisation context context the thread and with El-salvador been the first and truly the one nation to have legalised bitcoin for a legal tender, can we say this is what is heen done over there today? Regulating cryptocurrencies? I know they came up with an indigenous wallet at the time and some airdropped satoshi to push adoption but, how is that going with regulations since, Citizens won't sty the part.

as soon as countries declared it a legal currency. government stepped in with their regulation of businesses/services that were swapping btc. by defining those businesses as money service businesses thus those businesses needed to get licences and follow policies and such.

Yeah, taking it on businesses would be one means and practically in form of valued added tax but still, this won't be enough would it.

yes you dont need to get a government to determine btc is legal tender for btc to "go global"
however the laziness of accelerating global use by being an legally acknowledged currency in a country, comes at a cost of allowing that government to underpin some rules of using said currency

You've got that right. The government need not approve but they stand as a catalyst to public acceptance.

[Finestream]

Let us be sincere and clear on this topic. The op is just making an assumption about what people will do if Bitcoin becomes legal tender globally but the reality despite the potential of Bitcoin there's no way the Feds and the institution will allow Bitcoin to be legal tender globally and the only thing they will welcome is to plan to regulate the possible aspect of the market.
About how people feel towards Bitcoin in your area, every investment is gambling no matter how good it may look.

Bitcoin is not just an investment asset, it is a decentralized financial system which anyone can use if wants. And we see how different countries adopt bitcoin as a payment system. So maybe if we look at the world of nowadays nothing will be totally worldwide. But if we talk about adoption by majority it looks possible. So IMO if some minority of countries will still not adopt bitcoin we'll can still say that it is adopted worldwide.

Bitcoin, regardless if it’s globally accepted as a legal tender or not, we can always use bitcoin as a currency but only to those limited stores who accept bitcoin payment. Otherwise, fiat will still be the official currency and will still be used by majority. But bitcoin as an investment, everyone can actually do it as long as they know exactly what bitcoin investment is all about. However, if ever bitcoin will be globally accepted in the future, my plan is to establish a food business that will cater bitcoin payment, and that will also pave way to increase my bitcoin hodlings in my portfolio.

[nullama]

I wonder if the supply of Bitcoin is enough for us? If people all over the world use Bitcoin for daily payments, what will the prices be like? Are global prices the same?
The privacy of Bitcoin protects our personal safety very well. Although I would love for Bitcoin to become a global legal tender, I don't think it is realistic.

Hal Finney in the early days did a rough calculation for Bitcoin being used as the world currency:

    As an amusing thought experiment, imagine that Bitcoin is successful and
    becomes the dominant payment system in use throughout the world. Then the
    total value of the currency should be equal to the total value of all
    the wealth in the world. Current estimates of total worldwide household
    wealth that I have found range from $100 trillion to $300 trillion. With
    20 million coins, that gives each coin a value of about $10 million.

    So the possibility of generating coins today with a few cents of compute
    time may be quite a good bet, with a payoff of something like 100 million
    to 1! Even if the odds of Bitcoin succeeding to this degree are slim,
    are they really 100 million to one against? Something to think about...

So, with 1 BTC at 10 million USD, that still leaves sats at a reasonable price.

[Ryu_Ar1]

Seeing from some of the posts that were actually made, I would clearly think the same as some of the other advertisers here because when that happens, it is likely that there will be a lot of businesses that might make payment options with bitcoin as well as the business that I am doing now and I will definitely do just that.
Even though at this time I am a little hindered by regulations on this matter, but the conditions when bitcoins are received are clear, I will maximize them as best I can to make several options there.

[lalabotax]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

Although it is very difficult to do as a globally legal tender, I think that I am gonna use it for payment. But, I am not sure about this because I like it more for investing 
In fact, although it is legal tender globally, it may not mean that every country is ready, moreover, it seems to be very difficult to be implemented globally as legal tender because of differences of society and the readiness of the government. in

[Newlifebtc]

Before bitcoin will become a legal tendency I think it will take you so here is because many governments of different nation is against bitcoin inclement so bitcoin becoming illegal tendency I don't think that is something today or something that to happen interval of 2 years so they are for let us just give bitcoin increment of Bitcoin adoption for more 5 years to come because I still have ways to circulate

[abel1337]

Let us be sincere and clear on this topic. The op is just making an assumption about what people will do if Bitcoin becomes legal tender globally but the reality despite the potential of Bitcoin there's no way the Feds and the institution will allow Bitcoin to be legal tender globally and the only thing they will welcome is to plan to regulate the possible aspect of the market.
About how people feel towards Bitcoin in your area, every investment is gambling no matter how good it may look.

Bitcoin is not just an investment asset, it is a decentralized financial system which anyone can use if wants. And we see how different countries adopt bitcoin as a payment system. So maybe if we look at the world of nowadays nothing will be totally worldwide. But if we talk about adoption by majority it looks possible. So IMO if some minority of countries will still not adopt bitcoin we'll can still say that it is adopted worldwide.

Bitcoin, regardless if it’s globally accepted as a legal tender or not, we can always use bitcoin as a currency but only to those limited stores who accept bitcoin payment. Otherwise, fiat will still be the official currency and will still be used by majority. But bitcoin as an investment, everyone can actually do it as long as they know exactly what bitcoin investment is all about. However, if ever bitcoin will be globally accepted in the future, my plan is to establish a food business that will cater bitcoin payment, and that will also pave way to increase my bitcoin hodlings in my portfolio.

Why not do it now? It will pave way in increasing your bitcoin hodling. If you are eager to do business and collect some bitcoin, This market situation is I think good enough to start with knowing that bitcoin price is attractable enough depending on how you see it. You seems uncertain about bitcoin, Bitcoin growth over the years is massive but waiting for it to be globally accepted is I think will take time. Imagine that there's a country that adopted bitcoin and you still wait for it to adopted globally. You should atleast start to establish your business first and try it out and when your business somehow grows, That is the time that you can accept bitcoin as a payment for additional boost for your business.

[jokers10]

Bitcoin, regardless if it’s globally accepted as a legal tender or not, we can always use bitcoin as a currency but only to those limited stores who accept bitcoin payment. Otherwise, fiat will still be the official currency and will still be used by majority. But bitcoin as an investment, everyone can actually do it as long as they know exactly what bitcoin investment is all about. However, if ever bitcoin will be globally accepted in the future, my plan is to establish a food business that will cater bitcoin payment, and that will also pave way to increase my bitcoin hodlings in my portfolio.

First bank cards were issued about 70 years ago and I'd say that their adoption and then real usage were really slow. And even now you can use it not in every store you want: in many countries still very few places accept cards and in some they accept cards only of local banks. Of course it would be amazing if bitcoin will be used really wide and deep at the nearest future, but even if we need to wait a bit it will be just a subject of time.

[Haunebu]

Globally? That's never happening op. Why? Because some governments stand to gain more from not accepting BTC as legal tender which is why they will do whatever it takes in this case without a second thought.

That isn't really a problem though since BTC adoption will continue growing organically around the world regardless of all the bans and restrictions(India, China etc). Other popular cryptocurrencies like ETH, LTC etc will probably prosper too.

This is the closest thing to global adoption if you ask me.

[KiaKia]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

When Bitcoin becomes globally accepted in your country do not try to mine publicly, keep your mining farm to yourself because of greedy and bad people, when they know what you are doing you might be a target, there is a similar situation with someone I knew where five of his mining equipment went missing, he had to involved the police and it came out to be that his neighbor was behind it.

Later the police start questioning him what he uses the equipment for, he lied to them and the policemen ignored it, if they knew it generates income per day it's another problem, later he left the area and rented another apartment far away from the state.

[suzanne5223]

Bitcoin, regardless if it’s globally accepted as a legal tender or not, we can always use bitcoin as a currency but only to those limited stores who accept bitcoin payment.

I believe you said this because you're not from the geographical region where the government publicly places a ban on Bitcoin and any crypto-related transaction because from such region there's no store that publicly accepts Bitcoin as payment unless you're close the person and the transaction will be executed behind the door.

Otherwise, fiat will still be the official currency and will still be used by majority.

To be honest, even if Bitcoin becomes the mainstream of payment fiat currency will still be the official currency. Bitcoin was not created to obstruct or obsolete fiat currency but to complement it.

[Ojima-ojo]

Bitcoin, regardless if it’s globally accepted as a legal tender or not, we can always use bitcoin as a currency but only to those limited stores who accept bitcoin payment.

I believe you said this because you're not from the geographical region where the government publicly places a ban on Bitcoin and any crypto-related transaction because from such region no store publicly accepts Bitcoin as payment unless you're close the person and the transaction will be executed behind the door.

suzanne5223 may be Finestream is referring to online stores, but aside from that.

It is utterly impossible to use bitcoin for payment in physical shops, this is because, in most countries SEC does not recognize Bitcoin as legal tender and any physical shop that accept bitcoin will be seen as illegal and can have the operating license withdrawn for accepting Bitcoin.

[franky1]

a retailer does not need to decline accepting bitcoin simply because its no legal tender. they are just not pushed to accept it by default due to it not being legal tender

and for the opposite..
if its not formally banned a business can choose to accept it. if its banned they cannot accept it.

in short there is a middle ground where countries just dont care and have not declared either way. a business can choose whatever way the business wants

[Strongkored]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

If this happens hopefully not in the near future so I can prepare myself by having a lot of Bitcoin because when this really happens it will boost the price of Bitcoin and provide benefits for its holders, and what I do is accept Bitcoin as payment from my business openly because you no longer need to worry about legal certainty

For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

The question is whether if global accepted occurs it will make mining operators more profitable? Because currently, one of the obstacles for mining operators is high costs, which reduces their profits.

Global tender or also global acceptance will be difficult to happen, one might even say impossible because the government always considers Bitcoin as a competitor of their Fiat and as usual people will try to get rid of and beat their competitors.

[jeraldskie11]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

If Bitcoin is globally accepted, my first thing to do is to accept Bitcoin payment in my businesses because it's a great opportunity for me. And if I have a job, I would rather choose Bitcoin as salary because I know that it is volatile  and I know the Bitcoin's price will increase gradually. People might take volatility as disadvantage in Bitcoin but for me, I will take this as an advantage.

[nullama]

~snip~
If Bitcoin is globally accepted, my first thing to do is to accept Bitcoin payment in my businesses because it's a great opportunity for me. And if I have a job, I would rather choose Bitcoin as salary because I know that it is volatile  and I know the Bitcoin's price will increase gradually. People might take volatility as disadvantage in Bitcoin but for me, I will take this as an advantage.

You can start accepting Bitcoin for your business right now though.

There's nothing stopping you to choose Bitcoin instead of any other payment processors using Visa, MarsterCard, etc.

[xSkylarx]

Bitcoin, regardless if it’s globally accepted as a legal tender or not, we can always use bitcoin as a currency but only to those limited stores who accept bitcoin payment.

I believe you said this because you're not from the geographical region where the government publicly places a ban on Bitcoin and any crypto-related transaction because from such region no store publicly accepts Bitcoin as payment unless you're close the person and the transaction will be executed behind the door.

suzanne5223 may be Finestream is referring to online stores, but aside from that.

It is utterly impossible to use bitcoin for payment in physical shops, this is because, in most countries SEC does not recognize Bitcoin as legal tender and any physical shop that accept bitcoin will be seen as illegal and can have the operating license withdrawn for accepting Bitcoin.

There are also countries that the SEC doesn't care about at all; mostly, only the SEC will be taking part if there is a company or ponzi scheme that is trending in a country, and that is where they post notices about it. Also, they can't just put Bitcoin on their notice, as it is a token. As long as Bitcoin isn't declared illegal in the country, or even if they haven't announced it as legal, it is okay to use it as a payment method or transact on it. 

[kro55]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

When Bitcoin becomes globally accepted in your country do not try to mine publicly, keep your mining farm to yourself because of greedy and bad people, when they know what you are doing you might be a target, there is a similar situation with someone I knew where five of his mining equipment went missing, he had to involved the police and it came out to be that his neighbor was behind it.

Later the police start questioning him what he uses the equipment for, he lied to them and the policemen ignored it, if they knew it generates income per day it's another problem, later he left the area and rented another apartment far away from the state.

Theft happens everywhere in the world, as long as they are valuable, they will be noticed by thieves, not just bitcoin mining devices. Once you build a mining farm, you need to take measures to protect your property just like your other assets. All are bought with money so they have value.
OP's intention to publicize his mining farm is because of his business, he wants to expand his business and needs to find a partner...not bragging, so there's nothing wrong with him going public on everything.

[fadhilz123]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

If Bitcoin is globally accepted, my first thing to do is to accept Bitcoin payment in my businesses because it's a great opportunity for me. And if I have a job, I would rather choose Bitcoin as salary because I know that it is volatile  and I know the Bitcoin's price will increase gradually. People might take volatility as disadvantage in Bitcoin but for me, I will take this as an advantage.

Just pray that it can happen and it can happen to you because when everyone has accepted Bitcoin it is like accepting fiat at this time. Of course the price of Bitcoin will be very expensive and everyone will not be so willing to give Bitcoin to others for free on everything that is not considered important. This means that everyone will use Bitcoin on work and things that are already considered important than what they usually do, because everyone will not be so easy to throw away anymore like selling to the market for more.

[suzanne5223]

There are also countries that the SEC doesn't care about at all; mostly, only the SEC will be taking part if there is a company or ponzi scheme that is trending in a country, and that is where they post notices about it. Also, they can't just put Bitcoin on their notice, as it is a token. As long as Bitcoin isn't declared illegal in the country, or even if they haven't announced it as legal, it is okay to use it as a payment method or transact on it.

The SEC's responsibilities include safeguarding investors, upholding justice in the investing environment, promoting capital development, and fostering effective markets. However, they are always against illegal market operations and any form of currency that is against the country's rules and regulations.
Having said that, I believe the other user was talking about people using Bitcoin in a country despite it not being welcome that's why I made the statement about SEC.

[adzino]

We all will agree that most countries around the world have had a misconception about bitcoin which has lowered the rate of Bitcoin adoption globally, various countries with their own mode of Bitcoin view the authoritarian states like china will have a total ban on Bitcoin even though it is an impossible thing since bitcoin is decentralized uncontrollable and independent.

Even with all this, Bitcoin has continued to consistently thrive to pursue its true mandate and even though a few numbers of Bitcoin adopters and bitcoin have been perceived as illegal, and public display of Bitcoin can be prosecuted through states laws that ban Bitcoin authoritatively e.g china and other countries in Africa and other part of the world that have one or two regulations.

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

You are wrong here. Only few countries have put a complete ban and made crypto currency illegal. Almost all countries in the word allows the usage of crypto currencies and is regulated. It just that most countries don't recognize crypto currencies as a legal tender. Just because it isn't a legal tender, doesn't mean it is illegal to use or trade or do transaction with crypto currencies.

Even if crypto isn't a legal tender, you can still own a mining farm. Not sure what "third party" service you are talking about, but whatever it is, doesn't sound decentralized to me.

[Minor Miner]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

If Bitcoin is globally accepted, my first thing to do is to accept Bitcoin payment in my businesses because it's a great opportunity for me. And if I have a job, I would rather choose Bitcoin as salary because I know that it is volatile  and I know the Bitcoin's price will increase gradually. People might take volatility as disadvantage in Bitcoin but for me, I will take this as an advantage.

You don't need to wait for bitcoin to be accepted globally or become a legal tender to do so, as long as you live in a country where bitcoin is not illegal, then you can use bitcoin for your business.
If you really want to own a lot of bitcoins, fully believe in bitcoins, then you can use your salary to buy bitcoins as soon as you receive them, no need to find a job that pays in bitcoins. Today, buying and selling bitcoin is extremely simple and fast, as long as we want to, we can do it all.

[Dickiy]

I believe I will open my own business and accept Bitcoin as payment method since people will surely excited to use Bitcoin for their purchase. There will be a demand for business that accepts Bitcoin that time which is very good to earn more profits from the Bitcoin craze.

Also buying goods on our super market using Bitcoin as direct payment is cool. Imagine you are going on the wet market to buy fresh fish while local sellers accepts Bitcoin payment for small purchase. I just hope that transaction fee that time will be cheaper through the use of more developed lightning network because there will be a problem on huge fee if this kind of mass adoption really happened.

Yes, integrating bitcoin into a payment system or alternative payment is a cool thing to do for business development, as well as me, I will also integrate it into my conventional business, especially if there are a lot of bitcoin enthusiasts it looks like I will get bitcoin from my selling business.

I also hope that transaction fees must be cheaper than now to be more effective and efficient when using bitcoin fractions and I hope that developers can meet the needs of traders who sell with bitcoin fractions.

[CryptoHeadlineNews]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

For me, since I don't have money to open a Bitcoin mining farm just like you, what I will do is try my very best to ensure I help educate more people who will be interested in learning more about this new digital currency just globally accepted, because definitely there will be lots of person interested to learn about Bitcoin and how it works. And my work as a member of this forum will be to help spread the little knowledge I have about Bitcoin.

[Franctoshi]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?
For me I will open my Bitcoin mining farm that will be public with a website and registered under the law for clients that will want third-party services that will align with global best practices of cryptography and digital asset management.

If eventually that Bitcoin becomes a legal tender globally, don't you think that you will be late to the party?, To start your mining business by that time.
The best way to profit from any business is getting in early, basically when the business is at its early phase just like Bitcoin now, So If this is your plan for Bitcoin, and if Bitcoin and it's mining activities is not banned in your country, I would suggest you better act fast, take the risk because the worst risk is really not taking any risk, and profit is always on the risk side.

[Ojima-ojo]

Before bitcoin will become a legal tendency I think it will take you so here is because many governments of the different nation is against bitcoin inclement so bitcoin becoming an illegal tendency I don't think that is something today or something that to happen interval of 2 years so they are for let us just give bitcoin increment of Bitcoin adoption for more 5 years to come because I still have ways to circulate

The long-term goal is the perfect way to gain the level of adoption we all glamour for I'm bitcoin,  most especially now that various countries have their sentimental judgement about Bitcoin.

But as long as Bitcoin continue to provide the best alternative it will become more of the currency of the citizens and not the government and that is why it is called alternatives currency.

[nullama]

~snip~
The long-term goal is the perfect way to gain the level of adoption we all glamour for I'm bitcoin,  most especially now that various countries have their sentimental judgement about Bitcoin.

But as long as Bitcoin continue to provide the best alternative it will become more of the currency of the citizens and not the government and that is why it is called alternatives currency.

Yeah, Bitcoin really is the best way to transfer money from point A to point B in the world. The thing is that the people in charge of how currently things are done are very powerful, and they're not going to stop living their fancy life because of this Bitcoin thing.

The more people realize how to use Bitcoin, the better most people will be.

It's just a matter of time. Changes at this scale take time, plus also it doesn't happen everywhere at the same time.

[White pawn]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

If Bitcoin is globally accepted, my first thing to do is to accept Bitcoin payment in my businesses because it's a great opportunity for me. And if I have a job, I would rather choose Bitcoin as salary because I know that it is volatile  and I know the Bitcoin's price will increase gradually. People might take volatility as disadvantage in Bitcoin but for me, I will take this as an advantage.

You’re right about one thing. Most people would take volatility as a disadvantage in bitcoin and I think they’re wise for seeing volatility as a disadvantage.
I think it’s great that you would accept bitcoin to be as a payment method in your business. I know if and perhaps when bitcoin is globally accepted, you would certainly have a lot of customers that would like and appreciate the idea of paying in bitcoins.
While accepting payments in bitcoin in your business and in your job(if you have) is all nice and good, you should consider holding a little fiat currency.

[jokers10]

You’re right about one thing. Most people would take volatility as a disadvantage in bitcoin and I think they’re wise for seeing volatility as a disadvantage.
...

Do you think they are wrong? Or may be could it be so that for one purposes of bitcoin adoption volatility works against development and for other purposes of attracting attention and trading it can be not so bad? It is usual when the same thing can be good for one and bad for another. Just like in a parable about the blind men and an elephant: if you think that others are wrong because you are sure smth looks other way it could be so that you don't see it from another angle.

Less volatility will make bitcoin more attractive for everyday using: you'll spend it easier when you know that it will not grow up several times and you will accept it easier when you know that it won't fall down several times.

[cozytrade]

~snip~
The long-term goal is the perfect way to gain the level of adoption we all glamour for I'm bitcoin,  most especially now that various countries have their sentimental judgement about Bitcoin.

But as long as Bitcoin continue to provide the best alternative it will become more of the currency of the citizens and not the government and that is why it is called alternatives currency.

Yeah, Bitcoin really is the best way to transfer money from point A to point B in the world. The thing is that the people in charge of how currently things are done are very powerful, and they're not going to stop living their fancy life because of this Bitcoin thing.

The more people realize how to use Bitcoin, the better most people will be.

It's just a matter of time. Changes at this scale take time, plus also it doesn't happen everywhere at the same time.

I think the use of Bitcoin will increase as time goes by. But earlier days people didn't use Bitcoin much. Now I see almost people know about Bitcoin and are starting to use it. In next few years Bitcoin will be more popular and Bitcoin will be used by all people.  The use will be more popular. It is really a matter of pride for us that Bitcoin will be used by people all over the world.

[DanWalker]

...

Less volatility will make bitcoin more attractive for everyday using: you'll spend it easier when you know that it will not grow up several times and you will accept it easier when you know that it won't fall down several times.

But less volatility will be a disadvantage for those who are looking at it as an investment, without volatility, we would not be able to make a profit. We are on two sides in this market. One side that sees bitcoin as a payment method wants it to be a currency, so they don't like the volatility of bitcoin, one side sees bitcoin as an investment, and volatility is what they are looking for. I used to be a forex trader, and I was attracted to bitcoin because of its volatility, it made me more money than forex.

[nullama]

~snip~
I think the use of Bitcoin will increase as time goes by. But earlier days people didn't use Bitcoin much. Now I see almost people know about Bitcoin and are starting to use it. In next few years Bitcoin will be more popular and Bitcoin will be used by all people.  The use will be more popular. It is really a matter of pride for us that Bitcoin will be used by people all over the world.

It's strange, it feels like it was completely unknown in the beginning, then it slowly started to be accepted everywhere, and then suddenly it kinda stopped, and now it's getting a second wave of being accepted everywhere.

Not sure what is fueling this, maybe the idea that if you spend something now it will be worth more tomorrow?

Also lightning makes it easier to spend micropayments, kinda like how bitcoin was valued at the beginning

[jokers10]

But less volatility will be a disadvantage for those who are looking at it as an investment, without volatility, we would not be able to make a profit. We are on two sides in this market. One side that sees bitcoin as a payment method wants it to be a currency, so they don't like the volatility of bitcoin, one side sees bitcoin as an investment, and volatility is what they are looking for. I used to be a forex trader, and I was attracted to bitcoin because of its volatility, it made me more money than forex.

It's not so, you confuse trading and investing: of course traders like volatility as it gives an opportunity to play with waves, but investors prefer long term income and stability. If you want to keep your savings  for using them when you want you'll prefer a deflationary asset with low volatility as it will be more costly in the future at any time and not at the bull's top only. So we'll just see how one investors will replace another ones. And those ones who like volatility the most will just look for another asset to play with, they are not fond of bitcoin as for bitcoin. And if you look at the charts you can see that bitcoin is losing volatility with time, it is natural and will go on the same way.

[RealMalatesta]

But less volatility will be a disadvantage for those who are looking at it as an investment, without volatility, we would not be able to make a profit. We are on two sides in this market. One side that sees bitcoin as a payment method wants it to be a currency, so they don't like the volatility of bitcoin, one side sees bitcoin as an investment, and volatility is what they are looking for. I used to be a forex trader, and I was attracted to bitcoin because of its volatility, it made me more money than forex.

It's not so, you confuse trading and investing: of course traders like volatility as it gives an opportunity to play with waves, but investors prefer long term income and stability. If you want to keep your savings  for using them when you want you'll prefer a deflationary asset with low volatility as it will be more costly in the future at any time and not at the bull's top only. So we'll just see how one investors will replace another ones. And those ones who like volatility the most will just look for another asset to play with, they are not fond of bitcoin as for bitcoin. And if you look at the charts you can see that bitcoin is losing volatility with time, it is natural and will go on the same way.

I have to say, as a long term investor myself, I do not really care about the volatility. It wouldn't matter to me if the price was 60k today, like suddenly it moved up, it wouldn't really matter. Since I am going to hold no matter what the price is, and ı am going to be around in 10+ years, that means it doesn't matter what the price is today, it could be 10k or it could be 100k and I would still not consider that as any issue at all, and wouldn't care.

Of course not all long term investors are like me, some may prefer stability and less volatility, but I am not one of those guys, I am going to hold for many years, so how it moves right now doesn't really matter to me.

[reagansimms]

WHAT IS THE FIRST THING YOU WILL DO IF BITCOIN BECOMES GLOBALLY ACCEPTED JUST LIKE THE INTERNET?

The first thing I will do is teach the people around me from adults to teenagers to get to know Bitcoin more closely. When Bitcoin is used as a legal means of payment globally, of course ordinary people about Cryptocurrency need education to know how to get Bitcoin and sell it when they need cash or other transactions.
When Bitcoin is present in the midst of people who live around the countryside, it will be a new phenomenon for those who have never known Bitcoin before. It takes continuous recognition to encourage them to be interested in using Bitcoin as a transaction tool in everyday life.

[skarais]

The first thing I will do is teach the people around me from adults to teenagers to get to know Bitcoin more closely. When Bitcoin is used as a legal means of payment globally, of course ordinary people about Cryptocurrency need education to know how to get Bitcoin and sell it when they need cash or other transactions.
When Bitcoin is present in the midst of people who live around the countryside, it will be a new phenomenon for those who have never known Bitcoin before. It takes continuous recognition to encourage them to be interested in using Bitcoin as a transaction tool in everyday life.

Bitcoin has been recognized globally since its introduction, but bitcoin has not been adopted globally as legal currency because the government has not legalized it.

If you want to teach as many people about bitcoin then I don't think you need to wait for global adoption and get started. Currently bitcoin has been recognized as legal currency in several countries, such as El Salvador and other countries, but in many other countries it is still limited to legalized investment asset. You can start now while waiting for the rules to soften on their own in the future. If the government is ready to change and start considering adoption, then the people you teach are ready for the new financial system.

[jokers10]

I have to say, as a long term investor myself, I do not really care about the volatility. It wouldn't matter to me if the price was 60k today, like suddenly it moved up, it wouldn't really matter. Since I am going to hold no matter what the price is, and ı am going to be around in 10+ years, that means it doesn't matter what the price is today, it could be 10k or it could be 100k and I would still not consider that as any issue at all, and wouldn't care.

Of course not all long term investors are like me, some may prefer stability and less volatility, but I am not one of those guys, I am going to hold for many years, so how it moves right now doesn't really matter to me.

It doesn't disprove my words. Even if you don't care about volatility it doesn't still mean that you like it or will be upset when it will go down in time. So you will not leave the bitcoin market depending on volatility. And some other long term investors who prefer less volatile assets will come to the market later, and traders will go searching for some more volatile markets as they like short and high waves.

And moreover while we expect when bitcoin will be a world spread currency we know that volatility will go down so in some sense you are holding your assets in those expectations, isn't it?