Invest in Bitcoin by selling wife's jewelry - page 11.

Aanuoluwatofunmi

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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 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.

TopTort777

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Quote from: MusaPk on March 01, 2023, 07:26:53 AM

Gold has its own worth and gold price is going sky high these days. Its not advisable to sell gold for investing in some other sector like bitcoin. If you have extra money then go and invest in bitcoin rather its more profitable to invest small money but regularly in bitcoin. To me investing 50$ per week or 200$ per month in bitcoin is more worthy then investing 3000$ at once.
If you have gold in the form of jewellery then keep it for future use. Your kids may be benefitted from this asset in future.

Are you predictor or something? How can you be sure that gold is going sky "these days" exactly? What are jewellery future usage? Wearing it ? Cheesy

Indeed the kids will benefit from jewellery in future - it will be their starting capital Cheesy

Doubt that they will stick to it as a relict and keep wearing it.

The OP actually is acting stupid imho. Instead of "investing the funds he is ok to lose", he plans to sell one active to buy other active. And he is planning to sell something that will always be valued high. Why not instead sell things he did not need anymore? Selling things you might need to be able to invest hoping to have a bright future seems like an act of desperate to me.

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100k per Bitcoin in 2024 is still not certain, the last price was 67k and I believe that 80 to 90k will be easy for Bitcoin, but no one knows for sure if Bitcoin will cross the 100k target or not and you shouldn't have posted the image of the jewelry, you don't know who is reading your post, so do not underestimate this forum, we can't see each other for real but information is sometimes a weapon of mass destruction.

Popkon6

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Bitcoin price halving in 2024 is the future. You think the current gold market is currently very high so whether you want to sell gold and invest in Bitcoin is completely up to you. Meanwhile Bitcoin market research should be done Bitcoin can go down as well as up. So I would suggest you to sell half of the gold and keep the other half of the gold.

And you mentioned only profit to your wife but you didn't mention loss. Investing in Bitcoin can lead to losses and gains. So you can sell half the gold and invest it without making your wife destitute, that's a good suggestion to me.

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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?

If you don’t have Bitcoin at all, then this idea might be a good one, in other words, you can’t invest everything in one asset. In addition, gold is also very well suited for long-term investments, it is also a good hedge against inflation and will rise in price over time.

I didn’t quite understand where you got x10 from, if now the price of bitcoin is 23k and when the price reaches 100k it will be only x4, that is, your $ 3,000 will become 12,000, not 30,000. In order for your investment to grow tenfold, you need the price bitcoin rose to 230k.

HajiBagi

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Quote from: lovesmayfamilis on March 01, 2023, 07:01:08 AM

Oh god, OP. I also advise you to sell all the clothes of your parents and children, then sell your car, house, and everything else that can be worth something to buy bitcoin.
You can endure a year after living in some kind of kennel because you are sure that in exactly one year you will become rich.
But seriously, I'm sorry about your wife.
If you believe in God, keep in mind that "you cannot serve God and mammon," and you may have created a new religion for yourself. Angry

I don't think it's a good idea to sell a wife's belongings to invest in bitcoin because, for one thing, she is a woman and that gold may be special to her or a gift from her parents, but out of love and to keep the peace she allows her jewelry to sell and invest in bitcoin. I would advise men to work hard to earn money so that he won't feel guilty about investing in bitcoin or so he can hold his bitcoin for a long time when the price drops because selling a wife material might lead to breaking up of marriage.

lienfaye

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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.

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

Is it reasonable to invest in gold rather than bitcoin?

I'm a gold jewelries investor too and been a holdling mine for years. I can say it's a good investment because the price is indeed increasing as time passes by. But Bitcoin already surpassed gold when it comes to giving profit though it's risky. For me it depends on what you believe in, but certainly both are a good investment.

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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?

If you can invest in Bitcoin for 5 years then you will get a lot of profit from here. I think if you sell the gold jewelry that your wife has and invest in Bitcoin, I don't know how it will be. But I I understand that after a few years you can buy your wife a lot of gold jewelry and many other things. Seeing your post made me very interested in investing in Bitcoin. So I thought I will buy Bitcoin with some money from my bank.

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Quote from: Oilacris on March 01, 2023, 05:39:12 PM

Quote from: Bushdark on March 01, 2023, 05:18:50 PM

Ths is very funny to me and I can't imagine this twice again. The question is that why would you ever think of selling your wife jewelry to buy Bitcoin. Are you that curious to the extend of selling your woman property just to buy Bitcoin that can depreciate anything and leave you in loses. It is fine that Bitcoin would finally go bullish but I can't imagine you selling what belongs to her.

This is a mess and should never be condole. Does it means that you have nothing else in your house to sell rather than selling her precious values so you can buy Bitcoin. This is not funny at and you can be arrested for this if you leave in a law abiding country. It is out of point if you ever take this odd action. Good luck Mr gold seller!

If his wife do make out expectations but turns out to be not happening into those proposed years then for sure it would really be a disaster for that husband.This is why its never been that ideal on making

out some guarantees specially into your wife plus you had sold off her precious belongings just for that investment opportunity.I dont have doubts on Bitcoin though but we cant really tell on when would

be the right time for these things to happen.There's no way that we could really be able to determine on which or what year those numbers would appear.This is why its not really
that good to give out guarantees because it would cause some chaos later on.

It would cause up huge trouble if your wife really expect something out of those years on where you had mentioned.Its better to get those jewelries back and free up yourself on possible trouble.
Its impossible that you wont really be having any fiat considering that you had able to buy those things for her.It would be better to accumulate and save up some fiat and buy bitcoin
on your own expense and never touch your wife jewelries just because you had promised out something about big returns.

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In some part of the world gold is preferred for emergency requirement. This means at times of emergency people use gold as collateral and receive money from banks. If you're a man who have got everything planned and you've got sufficient funds to meet unexpected needs as well as to meet your daily needs then it is good to sell the jewels and buy bitcoin and keep it safe.

decodx

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Quote from: LDL on March 01, 2023, 06:37:26 AM

No risk no gain...
Yes we all know investing in Bitcoin is very risky. Investing not only in Bitcoin but in all cryptocurrencies is extremely risky.
But I believe 100% that Bitcoin may double or triple from ATH after halving day 2024.

Hey, didn't you say before that you were absolutely certain Bitcoin would increase in value by ten times after 2024? But now you're saying it might only double or triple from its all-time high? It's seem like you're not really sure what you're talking about.

Quote from: LDL on March 01, 2023, 06:37:26 AM

Moreover, after 2021, the entire year 2022 was a bloody chapter for Bitcoin.

It is foolish to think that it cannot happen again.

Quote from: LDL on March 01, 2023, 06:37:26 AM

If the Bitcoin market does not grow in 2023, I strongly believe that after the halving in 2024, the Bitcoin market will exceed $100k by 2025. I made my decision based on this belief.

So if you've already made a decision, what's the point of asking the community's opinion then?

Whenever you invest your money, there's always some level of risk involved, so it's definitely something to be aware of. And when it comes to selling your wife's jewelry, you gotta be super careful, especially if it has sentimental value. You don't want to regret it later on. Plus, you wanna think about how it might impact you and your wife emotionally and financially. So, if I were in your shoes, I'd take a breather and think things through before making any rash decisions. But at the end of the day, it's your money and you can do what you want with it. Just be careful you don't end up having to find a new wife after 2024, haha!

Oilacris

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Quote from: Bushdark on March 01, 2023, 05:18:50 PM

Ths is very funny to me and I can't imagine this twice again. The question is that why would you ever think of selling your wife jewelry to buy Bitcoin. Are you that curious to the extend of selling your woman property just to buy Bitcoin that can depreciate anything and leave you in loses. It is fine that Bitcoin would finally go bullish but I can't imagine you selling what belongs to her.

This is a mess and should never be condole. Does it means that you have nothing else in your house to sell rather than selling her precious values so you can buy Bitcoin. This is not funny at and you can be arrested for this if you leave in a law abiding country. It is out of point if you ever take this odd action. Good luck Mr gold seller!

If his wife do make out expectations but turns out to be not happening into those proposed years then for sure it would really be a disaster for that husband.This is why its never been that ideal on making

out some guarantees specially into your wife plus you had sold off her precious belongings just for that investment opportunity.I dont have doubts on Bitcoin though but we cant really tell on when would

be the right time for these things to happen.There's no way that we could really be able to determine on which or what year those numbers would appear.This is why its not really
that good to give out guarantees because it would cause some chaos later on.

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Quote from: Yatsan on March 01, 2023, 05:03:24 PM

Would she allow it? This is wrong if she won't, in all aspects. First of all, that is her personal belongings. Also, what if you made a wrong decision resulting to huge loss of that jewelry's money? Would you still be able to compensate? If you don't have that much money to invest then be patient and allot an amount you can invest someday. There's no need to rush and there's nothing telling you to invest right now for you to make such decisions which can yield to a problem between your partner.

Quote from: acroman08 on March 01, 2023, 03:15:33 PM

you are assuming too much about what the price of bitcoin will be in 2024.

This impression is simply the cause of greed in this industry; misconception. Many people are decieved by the fact that many people gained profit from what happened on the previous halving, disregarding that this industry lacks inconsistency and there is still a tendency that same situation might not happen because of the same reason. People are trying to risk things because of such impression.It is okay to aim for profit but atleast be reasonable with your actiond before aiming for that profit.

i hope the OP will think again about selling his wife's gold after reading some insights here. you can never be sure with what will happen come 2024. you can't guarantee that BTC will rise 2x or more. the OP said, he's forced to sell those jewelry to buy BTC, but hey, no one is forcing you to do such move. it is your own decision why you want to sell it because you want to buy BTC. gold may not increase the same way BTC would. but gold is a tangible asset where you can peacefully sleep at night and you know when you wake up, you still have your assets. whereas, with BTC, you will be in agitated mode for these coming months if you sell off the gold and buy BTC, because you will have a roller coaster mode with the price, and you also have no assurance where the price of BTC will be heading to...

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Quote from: Rikafip on March 01, 2023, 05:44:56 AM

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

At present I am forced to sell my wife's jewelery as I have no fiat money

And who exactly is forcing you?

Since he already said he lost money, it's obvious the culprit here is the same as in gambling, it's called Chasing losses.
He wants to desperately recoup those losses and he thinks he can make it big, (lol at the x10 in a year), same as gamblers, raising the stake with the hope this time will definitely work. Of course, it's less risky than a bet but at the same time, it might now produce the results he hopes for. Not even mention that from the start he will get less money for that gold and he will have to pay a lot more to get it back, and...the family issues. I personally wouldn't want to run into my mother-in-law for a while after this.

Also, from another topic:

Quote from: LDL on January 28, 2023, 01:53:13 AM

I want to know a deep thing from you, I live in a joint family with multiple members including my parents, brothers and sisters, sons and daughters, nephews and nieces. Several people in our family work in cryptocurrency. We always work on Bitcoins and cryptocurrencies with computers and mobile phones. This made my family's young children interested in our work and wanting to know about Bitcoin.
~

This is going to end badly, that is, if it's real!!

Quote from: lionheart78 on March 01, 2023, 03:28:30 PM

You can always buy jewelry but the opportunity to buy Bitcoin at a lower price is not always available. Looking back at the year 2014 when I was just a newcomer to the industry if I bought $1000 worth of BTC that time, I would be sitting in comfort today because that $1000 would have grown 160x+.

And if he had bought at the end of 2017 waiting for a x10 he would be single by now! Wink

Oh, and furthermore, why don't you sell all your jewelry and your wife's jewelry like the OP now?

Bushdark

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Ths is very funny to me and I can't imagine this twice again. The question is that why would you ever think of selling your wife jewelry to buy Bitcoin. Are you that curious to the extend of selling your woman property just to buy Bitcoin that can depreciate anything and leave you in loses. It is fine that Bitcoin would finally go bullish but I can't imagine you selling what belongs to her.

This is a mess and should never be condole. Does it means that you have nothing else in your house to sell rather than selling her precious values so you can buy Bitcoin. This is not funny at and you can be arrested for this if you leave in a law abiding country. It is out of point if you ever take this odd action. Good luck Mr gold seller!

Yatsan

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Would she allow it? This is wrong if she won't, in all aspects. First of all, that is her personal belongings. Also, what if you made a wrong decision resulting to huge loss of that jewelry's money? Would you still be able to compensate? If you don't have that much money to invest then be patient and allot an amount you can invest someday. There's no need to rush and there's nothing telling you to invest right now for you to make such decisions which can yield to a problem between your partner.

Quote from: acroman08 on March 01, 2023, 03:15:33 PM

you are assuming too much about what the price of bitcoin will be in 2024.

This impression is simply the cause of greed in this industry; misconception. Many people are decieved by the fact that many people gained profit from what happened on the previous halving, disregarding that this industry lacks inconsistency and there is still a tendency that same situation might not happen because of the same reason. People are trying to risk things because of such impression.It is okay to aim for profit but atleast be reasonable with your actiond before aiming for that profit.

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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?

Your intention is good, but your action towards it may be wrong. I don’t suggest selling your wife’s jewelry so you can invest in bitcoin, you might lose them all along the way. And you might be blame by your wife if that happens. Bitcoin investment has its own risk, and you should not take those risks if you are not ready yet. That way, you can be free from future losses, but if you really want to invest, then save first.

Fatunad

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

whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

Im not saying that Gold is much better but we know that earth precious elements does have that history on having that increasing value as years passing by.It is really just that too slow or minimal when it comes to movements and something that cant depreciate over time.If you have sold out and making out those sweet words and guarantees into your wife about making profits in 2024 then prepare because thats not how it would be that simple. $100k isnt that too near to consider and plus you arent that able to make 10x with the investment that you had made considering that we are around 23-24k price which means it could potentially
give you 4x of your investment if ever it would hit 100k but just like i've been said that it wont really be that something simple.

panganib999

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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?

If you had to ask people for it, most of them would answer NO, including me. First off, I presume you asked your wife's permission before doing this, if so you're in big fat trouble. There's also the concept of divorce, if you knew about that. If things go south and you guys lose a significant portion of your capital investments, how would you be able to pawn your wife's important and expensive jewelry? Do you have safety nets in place for such eventualities coming around? Let me just remind you that just because the halving's coming doesn't mean it's going to pump as high as you expect it to be, I mean we can all dream but sometimes we gotta stay realistic too.

So, TL;DR do not sell your wife's jewelry, find other ways to grab money you would use to invest in bitcoin, certainly not from your savings or what. Invest only what you can afford to lose, this one mate, is not one of it.

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Nope! I personally don't think it is wise to sell other people property just to buy some bitcoin even if it is your wife property. Even if it's a conjugal property, Your wife still has a right to that unless your wife herself is the one who engage in selling or agreed in your terms. Please don't say that you are forced to sell because I'm sure that you have a way to generate you own income and buy some bitcoin. Remember that there are still risks even if you are certain that bitcoin will rise again, I believe that selling these kind of metals is only applicable if there is an emergency or a rush need of money. Consult your wife first, This can possibly ruin your relationship.

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