Invest in Bitcoin by selling wife's jewelry - page 10.

macson

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Quote from: LDL on March 01, 2023, 05:16:24 AM

We know gold is very precious metal, but Bitcoin is much more expensive than gold. Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

hey man, it seems your wife doesn't have much interest in selling the jewelry for various reasons and women really like jewelry. if you have sold the gold and then bought bitcoin, then you have to be open with it, you better make your wife's personal bitcoin wallet so that she won't be so hurt. good luck with your investment man.

Reid

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I won't do this. Not in my life. I'd pawn my wife's jewelries just for emergencies, but I won't sell them. I'd get it back in a month or two to avoid quarrels. Cheesy

First, it's not mine. What hers is hers and what is mine is hers too. It never go the other way around. That's my belief to have a happy wife.

Save money, go get a job, sell your kidney, there's a lot of options to make money and I'd rather take that path than risking my wife's jewelry into something that has no real assurance. Don't get me wrong, I believe in Bitcoin, but it doesn't mean I would go that far. Because once it goes south you will hear a lot of things from your wife. Worse, you are the reason for ruining your marriage.
Please don't do it. I hope it's not late.

Rikafip

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Quote from: Rruchi man on March 01, 2023, 08:01:01 AM

As a matter of fact, most celebrities that you see buying and wearing very expensive jewelries, wristwatches etc. consider the jewelries as investments that they can always sell in the future should they need money. That is why they never really see buying original expensive jewelry as a waste of money.

While luxury watches can be a solid investment choice, its not the case with luxury jewelry and in 99.99% of the cases you will end up losing the money. "Problem" with luxury jewelry is that big part of the price is brand itself so when you try to resell it, you won't get even close to original value. Let me give you an example; recently while watching some series, my wife saw one of the actresses wearing a necklace that she liked very much. She googled it ofc and it turns out it costs 15k euro. Out of curiosity she checked a little bit more to see if she can find someone selling used one and she managed to find it for 7k. And that was some store selling it, meaning person who sold it to them got even less.

Quote from: Rruchi man on March 01, 2023, 08:01:01 AM

Selling your wife's Jewelry to invest in bitcoin is a good move before the jewelries are lost to theft.

That's a very bad argument for sale since you can lose bitcoin as well. Considering the fact that OP lost money in both Luna and FTX, I have serious doubts that he is capable of securing bitcoin properly.

mvdheuvel1983

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Quote from: LDL on March 01, 2023, 05:16:24 AM

I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

Bitcoin is valuable and so is gold. The question I want to ask you is 1) Is that all the gold your wife has that you want to sell?
2) Are you under any pressure? Because, you mentioned that, you are forced to sell it.

If that is all of gold the wife her I wouldn't advise that you send it all off to buy Bitcoin. Remember you need to diversify your portfolio because bitcoin is a very volatile asset and you run the risk of losing it all if you invest all of your money into it. Also keep in mind that gold is as valuable as Bitcoin.My candid counsel is for you not to act under pressure. You could try the DCA method first.

Pandu Geddon

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Quote from: GiftedMAN on March 02, 2023, 09:11:37 AM

I wouldn't mind if you sold your house to invest in bitcoin since you are in a platform of bitcoin but it's sounds crazy going through your write-up about how you have lost in other investments and you still went ahead to sell your wife jewelry to invest in bitcoin with the hope of making a 10x profit if there is a bull run. You can't be so certain that you took a good risk but yeah your wishes may also come through but I will advise you to always invest with your own property and invest without being so sure of a quick breakthrough.

in the past bull run situations we also get some news in the media regarding similar things. someone's success in investing in Bitcoin. selling properties, selling other assets to buy Bitcoins when the market is in a dump trend. and they hit big when the bull pump came right through the ATH. everyone wants to try their luck. because of the tremendous trust in Bitcoin, and if that doesn't hurt their finances. I hope it will be ok.

Oceat

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It's not a smart idea and it seems like OP is kind of pushing something to the limit while risking his future and wife at the same time. It feels like he's gambling here but I hope it turns out fine at the end since it's not really a great idea risking your wife's assets. I hope you know or have read of what happens to those people who risk their savings, selling their house, and or taking loans just to invest in Bitcoin but in the end they barely can keep up to pay the interest.

Don't be so greedy because nobody knows what will be the price of Bitcoin after the halving.

Tony116

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Quote from: Vaculin on March 02, 2023, 06:28:08 AM

Quote from: LDL on March 01, 2023, 05:16:24 AM

We know gold is very precious metal, but Bitcoin is much more expensive than gold. Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

Personally, I would never risk my source of investment just to invest into a risky and volatile investment. I don’t want to compromise the first to gain from the other. Although I must admit that bitcoin is better than gold, but if you have the high desire to invest in it, then save for it to make it happen by not compromising your wife’s investment. Because even if she agrees to your decision, she would still regret the idea of selling her jewelries once your bitcoin investment did not succeed or become profitable in the end.

I also wouldn't be able to agree with the OP's decision, not only is it too risky to sell a stable asset to invest in a risky asset, but this is his wife's jewelry. For a woman, jewelry is seen as a precious thing that she will never want to lose. Not to mention that even though OP explained it to her, I'm sure she still didn't understand and fell into a state of fear. If it were me, I wouldn't do that to my wife.

We have many ways to invest in bitcoin, in addition to saving, we can look for a part time job to increase our income. I think the OP was in a hurry to invest because he was afraid of missing out on the opportunity to buy bitcoin at such a low price today.

Uruhara

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Whether it makes sense or not depends on your family's economic situation and condition. if your wife's jewelery that you have sold is indeed an asset that you will not need for a long time. then investing in bitcoin can have the potential to double the value of your assets one day when the bitcoin price rises. but you also have to know and have to be prepared if the bitcoin you buy turns out to experience a sharp decline. so that the value of your investment assets in bitcoin will decrease.

Saving in gold is indeed safer. but do not have the potential to experience high increases within the next 1-2 years. But also will not experience a sharp decline. price fluctuations are not too high. different from bitcoin which is high risk but also offers the same high potential. so it makes sense or not depending on whether you are ready or not with the decision you have made in putting your assets into bitcoin with all the risks that you already know.

Captain Corporate

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My wife would probably kill me lol. If we did this back in the day, we would have probably close to a billion dollars right now, depending on when we did it of course, I mean like when bitcoin was 10 bucks, but of course I wouldn't do it at all, its like the signing of my death paper Cheesy

All in all, its of course great if you could have the balls to do it, because in the end if you get richer, then your wife would be happy too, which wife would say not to a lot of money, they would be pretty excited about it. But in order to do it, you would have to risk a lot and that would cause a lot of trouble for you and definitely not something I would do.

GiftedMAN

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I wouldn't mind if you sold your house to invest in bitcoin since you are in a platform of bitcoin but it's sounds crazy going through your write-up about how you have lost in other investments and you still went ahead to sell your wife jewelry to invest in bitcoin with the hope of making a 10x profit if there is a bull run. You can't be so certain that you took a good risk but yeah your wishes may also come through but I will advise you to always invest with your own property and invest without being so sure of a quick breakthrough.

NeilLostBitCoin

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So what if the bitcoin price is higher than gold? We don't know for sure if bitcoin will reach 100k after halving. Do you think your relationship will last till halving after selling her jewelry? Do you think your wife can wait longer if the bitcoin price does not match your plan? Based on your story, your wife is hesitant at first. What if the bitcoin price goes -50%? Do you think your relationship will stay healthy? There are too many risks associated with your plan, including your relationship. Do you think it's worth taking that risk?

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But come to think of it, the ops didn't mention that this is the only jewellery his wife had, and also how often she has worn them, because looking at it from an economic point of view, it all depends on the profits yielding.

-In my part of the world, gold jewellery is seen as an investment, and at each time the price of gold keeps increasing as also with bitcoin, so at some point, it may make sense if the ops wife can do away with that investment for a long time. Let's say for a period of 5 years, by that time the investment could have matured.

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Quote from: lienfaye on March 01, 2023, 08:27:15 PM

Quote from: LDL on March 01, 2023, 05:16:24 AM

whether selling my wife's jewelery and investing on bitcoins makes sense?

Well, yes if you believe it is more wise and profitable to invest in Bitcoin than gold jewelries. However, don't forget the risk associated with it. The reason why it is best to not be too hopeful so it won't affect us deeply just incase what we expected didn't happened.

I do not think that it matters if bitcoin is better than jewelry or not, the only question here is that if your wife would kill you or not Cheesy

Any married guy would know that if you do something like this, you are taking an insane risk and if things do not look good for you quickly, then it is going to end up being something horrible.

I know a friend who did it, sold all his wife's jewels and bought bitcoin, and luckily he turned it into hundreds of thousands of dollars and got away with it, but even while it was going up, his wife was mad at him for not cashing out already, he had to take on the barrage of attacks to stay and make that kind of profit. It is really not worth the risk if you ask me.

John Abraham

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Broh!
Don't be crazy. Don't risk everything. I understand that you may expect to get 10x or so, which could happen in 2024 or maybe a few years later. No one can guarantee that Bitcoin will hit 10x after a year or so. It's all our prediction and nothing else. Let me tell you my story when everyone said Bitcoin would hit 100K at the end of 2021. I started accumulating more bitcoin. I started saving as much as I could and began accumulating sats. When BTC was 65K, I remember I had over $5K in my Bitcoin wallet. Still, I didn't sell anything because I was expecting 100K. I expected 100K because people like Plan B said we might hit 100K.

Then BTC started declining, and we saw seven weekly red candles in a row. I would suggest you invest money if you have spare fiat. If you don't have one. Start accumulating your signature payments and try to be happy with that.

bangjoe

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Quote from: LDL on March 01, 2023, 05:16:24 AM

We know gold is very precious metal, but Bitcoin is much more expensive than gold. Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

I may not be experienced enough but I'm trying to understand what you mean in your situation,
It is a good decision if the value is for the future needs of you and your family, there is nothing wrong if you do because Bitcoin will return your money with more value. But maybe your position is that you really have to be able to manage your wife because women cannot be separated from jewelry, sometimes she doesn't want to go out and socialize because she doesn't have jewelry on her body because she feels ashamed not having it, selling all of her wife's jewelry is not a wise thing because you You could say you don't understand women, it would be nice to leave the jewelry that your wife likes the most to use.

We invest solely to make our family and loved ones happy, so maybe you should understand more about your wife's needs besides consumptive things.

Vaculin

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Quote from: LDL on March 01, 2023, 05:16:24 AM

We know gold is very precious metal, but Bitcoin is much more expensive than gold. Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

Personally, I would never risk my source of investment just to invest into a risky and volatile investment. I don’t want to compromise the first to gain from the other. Although I must admit that bitcoin is better than gold, but if you have the high desire to invest in it, then save for it to make it happen by not compromising your wife’s investment. Because even if she agrees to your decision, she would still regret the idea of selling her jewelries once your bitcoin investment did not succeed or become profitable in the end.

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Quote from: Aanuoluwatofunmi on March 02, 2023, 03:54:25 AM

Quote from: LDL on March 01, 2023, 05:16:24 AM

https://i.imgur.com/kVs1gRE.jpg
We know gold is very precious metal, but Bitcoin is much more expensive than gold. Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

I wouldn't say this is a wrong decision but we have to figure out the differences here for the two assets, bitcoin is volatile while jewelry provided that it's pure gold is also an asset but not volatile, they but increase with time but bitcoin can go far beyond how gold could reach within a specific time, bitcoin is a digital asset while gold is a physical one that may constitute undergoing through KYC before acquiring it from a centralized seller while bitcoin is a p2p network, definitely bitcoin can be more profitable than the jewelry provided you hodl and sell at the right time, i will say you're missing nothing out yet as long as you can also secured your bitcoin from been stolen.

If he can hold on to the bitcoins and if the bitcoins go up as per his prediction price and then if he sells them then he will make many times more than gold so in that case he will have no problem selling his wife's jewelery which is many times more than that can buy. But if he panics and sells the bitcoins at some point, selling jewelry will be a very bad experience for him. Now it will be up to him what he will do and since he has made such a big decision he must be aware of the risks of bitcoin investment.

ethereumhunter

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It makes sense for you to sell your wife's jewelry and invest in bitcoin but it has to get approval from your wife and in this case, you have earned it. You have to return your wife's jewelry someday, especially if you can get a big profit from bitcoin so that your wife is happy and happy to see that what you are doing is really right and can bring change to your family.

But this may be a tough decision for a family where the wife gives up the jewelry she keeps to sell and buy bitcoins. I'm sure it will not be easy for your wife to accept your explanation because this is something new for your wife. Hopefully in this year or 2024 or early 2025, everything can change and give you happiness for your wife because you managed to get that big profit.

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Quote from: LDL on March 01, 2023, 05:16:24 AM

-snip-
I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?

For me it would be better to invest in bitcoin than investing in gold because with bitcoin it is likely that we will get a greater return than the return offered by gold because we often see that gold price movements tend to be stable, you plan to sell all your wife's jewelery then put all the funds into in bitcoin investing but before trying to enter into the market have you explained about the losses that will be incurred when investing with bitcoins and have you told that you can also lose everything in a short time if the market moves not as you expected after making a purchase.

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Quote from: LDL on March 01, 2023, 05:16:24 AM

We know gold is very precious metal, but Bitcoin is much more expensive than gold. Bitcoin will cross $100k after halving in 2024 ie if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin. I explained this formula to my wife at night and she was not willing to give me her jewelery at first but today she told me by herself that you can sell my jewelery and invest in Bitcoin. At present I am forced to sell my wife's jewelery as I have no fiat money.
I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

You and your wife should discuss it again before making a final decision because investing in bitcoin is not only profitable but also risky. It's your wife's property, tell her the risks she's taking and let her decide, don't force it. I know there's nothing wrong with believing in bitcoin, but you also know, it's not a good idea to sell assets to invest in bitcoin. If you can sell gold to invest in bitcoin, I think one day you will also think about selling your house to invest in bitcoin. You are becoming greedy and in too much of a hurry to invest. Why don't you try to think of finding another job and you can save from there to have money to invest?

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