First thing i will do if Bitcoin become legal tender globally

[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

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[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.