Invest in Bitcoin by selling wife's jewelry - page 12.

Sanitough

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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 don’t have to chose in the first place as both investments will be more profitable in the future. Invest on both so you can gain more profits in the next months and years. However, knowing bitcoin is highly volatile, then you should invest on it at your own risk. Selling your wife’s jewelry will only bring a lot of risks, and you might only lose them if bitcoin value do not reach your expected price. Bitcoin is a good investment, but it does not give an assurance that you won’t be experiencing losses as well.

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No matter what your philosophy on investment or the urgency of your need for financial break out is, I must say that selling personal belongings to buy Bitcoin is not a good idea, most especially when you sell your wife'sjewelriess to buy Bitcoin and for that, I will like to ask you a few questions.
1: is your wife aware of the risk you are about to take?
2: what is your wife's understanding of the investment and which place is gold in her investment portfolio?

-As far as I know, there is no guarantee of a 10× increase in bitcoin price after halving, and there is also a possibility that the price of Bitcoin may decrease and remain like that for over a year, what are your financial alternatives plans if things don't go your way.

albon

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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?

What would you do if you sold your wife's jewelry and the bitcoin did not rise to $100,000? There is another possibility that it will decrease, and this is due to the volatile nature of the market. Suppose you do not have a stable business from which you can obtain legal money and invest in Bitcoin, what you can lose. In that case, I hope that you will back down from the decision to sell your wife’s jewelry because it is possible that you will not be able to rebuy it if something happens led to the deterioration of the price of bitcoin. Most investors make this mistake, which is selling their properties, real estate, cars, gold, etc., to invest in bitcoin, and this doesn't seem right and may cost them a lot. You have to invest in bitcoin wisely and not risk what you have.

Finestream

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Quote from: xSkylarx on March 01, 2023, 06:25:34 AM

You are very confident that you'll earn a profit even if there are risks. We know most of the halving that happened in bitcoin is pretty good as the price went ATH, but we are not sure if this halving is the same. We are not 100% sure that the price will reach another ATH. What if it's all time low? What I would suggest is that you just sell off one-half of it to be safe, or only what you can afford to lose. Try to think and learn about the risk of investing in bitcoin, as we do not know if you will lose your investment.

No one holds guarantee that bitcoin after halving will reach a very high price, that is still very uncertain as not every halving the same thing will happen. And even if it’s price increases, we are not yet sure if the price will reach another all time high so if you do your plan of selling all your wife’s jewelry, that will bring a lot of risks. You should have been more honest to your wife and admit that bitcoin investment does not guarantee profits all the time, so she will never expect high profits on it. I suggest invest only on the amount you can afford to lose, and I think selling another investment is not a good idea. Just invest whenever you have extra money so that if you lose, that won’t create an issue to you.

livingfree

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It make sense to do that if she agrees to sell it and understands the risk and volatility of bitcoin. Later, I even saw someone who sold a part of his land and put it into bitcoin.

We've got different plans and before you do something even if the jewelry is from your wife, consent is a must so that there won't be any regret and blaming afterwards.

But to give you some idea about the gains, it's more likely that it won't go 10x for the next bull run. Every bull cycle, the gain of bitcoin decreases.

lionheart78

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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?

I have the same thought as you. I believe Bitcoin will reach another all-time high after the halving. So I think that your decision of selling your wife jewelry is somehow rational. Rather than your wife's gold sitting idle in the safe, I agree that selling it and investing it in Bitcoin is much better.

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+.

acroman08

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

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?

in my opinion, don't do it. I won't have a problem if you sold your own jewellery to invest it in bitcoin but asking your wife to sell hers so you could invest it in bitcoin just doesn't right to me. also, her "hobby jewellery" might be her own way of investing.

aoluain

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Quote from: LDL on March 01, 2023, 06:16:11 AM

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

First of all, its not a smart thing to share image of your wife's jewelry (some pieces stand out quite a lot) because you never know who is reading this.

No problem, I might sell all my wife's jewelery in a day or two.Talked to two customers and they agreed to buy jewellery.

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?

It was only necessity that forced me to sell my wife's jewellery.
In 2022 I lost a lot on several investments, most notably $4000 worth of cryptocurrency during the Luna crash and $1500 worth of crypto during the FTX bankruptcy. So right now I don't have enough liquidity in my pocket to invest. So I am forced to sell my wife's hobby jewelry even though it is very difficult.

You made two mistakes previously, investing in $hitcoins and leaving your coins on
an exchange.

So your next move after selling the Jewellery is buy Bitcoin and a Trezor hardware
wallet and take full control of your investment.

On selling Jewellery for Bitcoin - do it, they are only material possesions.

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.

Correction::::

We know Gold is very precious, but Bitcoin is more Precious than gold.

drwhobox

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Don't make your girl upset, think twice or take your time before selling them. All I know women do have emotions when it comes to their jewelry. Those jewelry are clearly not assets or investment, maybe you plane to buy her back when you cash out your bitcoins.

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.

How can you be so sure about the price of bitcoin that it will cross 100k$ after halving in 2024? Maybe it will not cross 30k$ then what will you do? or even if it drops lower do you have any backup plans for that?

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Is it reasonable to invest in gold rather than bitcoin?

If you have fiat and lazy money to invest or any money to invest bitcoin is a more valuable investment asset than any other thing not only gold.

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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?

Just make sure that she is completely on board with what you are about to do or otherwise this could add tension to your marriage and your relationship with your wife, additionally make sure to not sell anything that has a sentimental value for her as even if the strategy that you are thinking on implementing makes sense, at the same time you are planning on selling that jewelry so most likely you are never getting it back even if you multiply your capital many times over.

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

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.

Just be careful OP because that specific statement is not guaranteed, the prediction is just likely to happen but not really 100% where you can say that it's a guaranteed profits. There will be some instances that the bull might start running in 2025 and not directly take effect after the halving in 2024.

Quote

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

I guess it's the other way around my friend because you are the one who convinced your wife to sell her jewelries.

Quote

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

Yes, it's a good idea because bitcoin is more volatile than gold and yes, much expensive than the gold especially in the future. But please, do remind your wife that these things are not guaranteed as this investment is really a gamble as we really don't know what will happen in the future. But as long as you're not hasty, you will be blessed to reap some good juicy profits.

akuntester1

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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?

Hi OP, I apologize in advance but I may disagree if you sell all your wife's gold jewelry.
In my opinion, jewelry for a woman has its own meaning and value and pleasure for her to own gold jewelry, besides actually being an investment for the future.
I don't know, but from your story I think you don't have fiat money to satisfy your desire to invest. Not because of an urgent and important need at this time.
I don't know, but it seems that you are subtly forcing your wife to sell your wife's jewelry and use it to invest in Bitcoin and wait until 2024.
What if your prediction is not right?
But after all it's up to you if you want to take a chance with the risks involved.
Because you and your wife must have thought about it carefully and understood the risks and your wife has agreed to you.

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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?

Why do I have a feeling that you have done something crude that doesn't make sense? You selling the gold to buy Bitcoin is not the problem, it is a wise thing to be honest but doing for a cause because you feel Bitcoin price will go to $100k is something you shouldn't have never done. When you buy bitcoin, you are doing so because you feel it will appreciate in future and not because it will go to a particular price, what are you going to do when the price go to $95k, would you continue to hold or wait till the price hit $100k? You have to change that mindset of being a bitcoin maximalist, that is the advice I will share with you.

Bananington

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

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

In addition to your wife's Jewelry, you can decide to declutter your home and sell off properties and belongings that you do not so much require anymore to raise some little money more in addition to what you have gotten from the jewelry sales. Your wife may feel bad if only her belongings are sold, so it will be good if you go through your belonging too and sell off something so it becomes that you both have made sacrifices for the future by letting go things that you love but no longer need. If you do this, you will be surprised how much more you will be able to raise.

pawanjain

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Investing in bitcoin might be really tempting sometimes but we must really be wise enough what we are doing in order to buy bitcoin.
They say to invest what you can afford to lose for a reason.
If it is at a cost of your wife's jwellery then you must be wise enough you should do it or not and not ask others what you should do about it.
If you still proceed with selling the jwellery then I would advice to sell only half of it.
Diversify the investment so that half of it is in bitcoin and half of it is in gold.

kryptqnick

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Gold is more stable in price that Bitcoin, I'll give the op that. And I don't really get the whole buying jewelry thing either because I don't appreciate jewelry and feel like it's something that catches unwanted attention if it's expensive or judgemental looks if it isn't. That being said, there are a few things you should note. I'm glad you asked your wife about the jewelry, but if she didn't like the idea before, maybe she still doesn't like it but agreed to make you happier or something. So maybe at least don't sell all of it. More importantly, I don't think you can realistically get 10x returns on Bitcoin in a year or two. It might happen, sure, but there's no guarantee and no reason it would go that high. The multiplier seems to be decreasing over time: Bitcoin went from $1k to $20k between 2013 and 2017, but only from $20k to $67.7k between 2017 and 2021. So maybe it won't be 10x or will get to 10x over a really long period of time. Just keep that in mind. The bigger the marketcap gets, the harder it is for the price to increase very significantly because that increase now means hundreds of billions of dollars in value.

krishnaverma

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You should better find own sources of income so that you do not have to sell your wife jewelry. In some countries, people consider jewelry as means of survival in bad times. Also, if you sell the jewelry , what will your wife wear in parties. She will feel left out among friends because of this. The invested amount is expected to give you good returns but there is no certainty about the amount of time required. If you develop new sources of income, you will have additional savings at the end of the month which you can invest in crypto and enjoy profits.

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

The story is very beautiful. But I doubt that all the jewelery in your picture is made by gold and And they value will be at $3k. You should not have posted a picture of your wife jewelry. It would have been a more believable story if you had provided a block explorer link to the bitcoin holding wallet as proof of your purchased bitcoins Huh

I want to believe your story and give a Smerit but again doubt that the story you made up is completely true. Because thousands of such stories are constantly being posted here Undecided

worle1bm

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I assume you also understand the risks when investing in bitcoin as you have risked your wife jewelry on this basis.I am happy that you have decided to invest in btc but sometimes we go over as gold can help you in hard times but on the other hand btc might not land on your expectations of 100k by next year so it should not be a problem for you.We should always invest what we can afford to loose and in this case I don't think you have made investment based on this fact.So be prepared for loss aslo but your patience will definitely pay off in long run.

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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?

The demand of people to invest in Bitcoin is increasing day by day and there are thousands of stories of people selling their hard assets like houses, cars, land, etc. to invest in Bitcoin. I am still confused as to how reasonable it is to do this. Investing in Bitcoin is a good idea and has a lot of potential for profit, but investing in Bitcoin by selling houses, cars, land and jewelry or taking loans is not a very smart thing to do. I don't support them much but if you have extra money to invest then definitely you can invest in Bitcoin and hold it for long time. But since you have already sold jewelery or decided to sell and invest in Bitcoin. So use a good non-custdial wallet or a hardware to save your bitcoins. good luck

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