Invest in Bitcoin by selling wife's jewelry - page 13.

m2017

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

~snip

I didn't expect such a turn of events on the forum and I will never believe that a woman, under any pretext, agreed to give up her jewelry. It's just unimaginable.

It is usually quite the opposite when the wife pushes bitcoin to sell in order to buy her jewelry. But your case seems to be unique.

Experts will now advise you differently, but the consequences of your decision will affect only you. Advisers will not incur any material risks. Therefore, it is only your choice.

If your forecast is confirmed and btc rises to $100k, then it makes sense to make this bet. But there is another side, that you will have to wait longer than 2024, or some kind of trouble will simply happen and there will be no growth. Here 50 to 50, either hit or miss.

Yogee

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I find you and your wife's situation quite funny for some reason but I will you the benefit of the doubt hehe. There are people who sold their car to invest in bitcoin before the last bullrun and some fortune so it's probably not a bad idea to sell and buy before the next halving. I hope you also explained the risk so she's also aware that it's not a guaranteed profit. You don't want her nagging you when things go south.

Lucius

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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. If I get $30000 from investing $3000, nothing can be as valuable as Bitcoin.
~snip~

Maybe math is not your strong point, but if you are already doing calculations, then you should know that the x10 profit you are talking about now means that 1 BTC should reach around $240 000 in the next two years. I'm an optimist, but I think it's still a bit too much to expect, because even $100k will be the point where many will sell all or at least part of their BTC.

Besides, I would never sell my wife's jewelry unless it was a matter of life and death, because sooner or later she will start complaining about it, and if by any chance you lose money, you better not appear in front of her. In the end, ask yourself if you have any luck at all in such matters, because it seems that you are in a losing streak that you are trying to end with one not-so-safe move.

Jawhead999

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I feel bad to your wife because she is love you and she has no choice, so she let down her ego and allow you to sell his jewelry especially you're saying you was force her. Bitcoin isn't expensive, you can buy Bitcoin in fraction and it's only your prediction if you think Bitcoin will reach $100K in 2024. Selling your wife's jewelry isn't a good thing to invest Bitcoin, you need to make her happy too.

naira

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Whether this is a good move or not is up to you. There are no guarantees whatsoever regarding profits and losses in Bitcoin. If indeed your wife agrees with this and wants to test her luck in Bitcoin, no problem. But do you feel that your wife without jewelry will not be seen ........? Sorry in this case I also have a wife but she also has Bitcoins in her wallet. She's only DCA every week of her spending money leftovers, but her jewelery has another role to play for her.

The point is the process by which he knows the movement of Bitcoin and how the process of increasing for the sake of increasing occurs. I let him learn on his own so he gets to know Bitcoin gradually. If I were you this would not do. Isn't it better to buy at different times (DCA) so that the benefits are more diverse. If purchased directly in undivided quantities, fortunately only 1 time.

rat03gopoh

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

It was only necessity that forced me to sell my wife's jewellery.

Is it a real necessity or is it just your passionate desire and it's based on belief? It's good if you understand the risks, but if your initiative is only to get community recognition, sorry it's not cool at all. I shook my head knowing you forced your wife to do this.

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

But I believe 100% that Bitcoin may double or triple from ATH after halving day 2024.

That isn't a routine price increase, scenario sometimes misses the usual.

What crazy stories will I read next just to invest in bitcoin?

NicNacCoin

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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?

It's better than borrowing money from others sources or taking loan from banks. OP As you are in financial crisis, you should analyze well and sell your wife's jewellery. Maybe your wife, due to the extra greed that you have conveyed to your wife, may agree with you and suggest selling the jewellery. You sell your wife's jewelry and invest in bitcoins but if there is a chance of loss instead of profit, can you buy your wife jewelry as a hobby? Also if you are getting good profit from your bitcoin investment then you should make your wife double jewelry.

kamvreto

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Quote from: CryptoBuds on March 01, 2023, 07:28:51 AM

I just saw you explaining profits to your wife, and I didn't see you mention the risks that bitcoin can bring to your wife. We all hope and expect bitcoin to hit a new ATH in the upcoming bull season, but no one can guarantee it, it's all just a prediction. So you need to be more honest with your wife talking about the risks of investing in bitcoin, her gold could be lost. If she still wants to take that risk, you can sell gold to invest in bitcoin. Don't forget the saying: invest as much as we can lose.

I have the same opinion as you, the OP still hasn't explained what short-term or long-term risks can occur in Bitcoin investments. When the OP explains the 10x profit that will be obtained, then he should also say that the risk of price fluctuations will be very influential. The decision to sell all of his wife's jewelry may be a personal decision and has been realized by both of them, but it is better to do financial management for the amount of initial investment you want to make. We don't know where the bitcoin market will go. It is possible that the market will crash below $20k again, or hit another high in the last few months. It is necessary to carry out investment planning so that the intention to hold on to bitcoin does not become a new problem which will then be withdrawn due to a sudden need to make ends meet.

inthelongrun

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The general rule of investing is still to diversify. Gold and precious pieces of jewelry are also good investments. But considering how bitcoin price performs over the years especially during and after the halving year, it is also very tempting to go all in. Since last year I've been contemplating of selling my house so I can invest maybe half of the proceeds in bitcoin. $100k is very possible for bitcoin. I would rather stick to that target if you're investing an amount that you cannot afford to lose. x10 is also possible but we never know, that needs a lot of money to inject. Good luck OP. And if your wife becomes impatient, you can cash out a portion that amounts to your capital and keep HODL'ng the profit until it reaches $100k minimum.

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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?

To me it does make sense a lot, I know gold have value but bitcoin have more value than Gold. I understand the reason she insisted not to sell her gold at first, maybe it was more of fashion to her. She took a Greet decision with you to choose to sell her gold, because it will definitely hard more value if she hodl bitcoin, and the profit from bitcoin can be use to acquire more gold. You have done very well, it is not easy to convince people to sell what they like for something else.

Luzin

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No, this is a stupid act. I wouldn't do this kind of thing to own bitcoin. Invest with the money you have, don't force circumstances that will make you worse. Bitcoin is uncertain, too risky to spend your wife's property. Crypto investing is not as easy as what you say to your wife. There are some things you can't expect. Indeed, in calculation, Bitcoin has a better investment value than gold. But Gold is an investment that has been recognized by the world as not too volatile in value. So, if I you I wouldn't do that.

Smack That Ace

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If you can be 100% sure of that, then you should think about selling your house and all your assets to invest in bitcoin because in your opinion, in just 1 year, you can buy 3 homes. I cannot support this decision of yours, it is not advisable to sell the property for investment while it is your wife's favorite property, and I hope it is not the jewelry you gave her on wedding day. Think about the risks you face if the investment doesn't bring the results you expect, if you pay with family happiness, it's not worth it.

Cantsay

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

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

I see you have changed from 2024 to 2025 Grin

nice one.
Very soon you'll still be creating a thread on how newbies should avoid selling their assets to invest in Bitcoin it's only a matter of time if you fail to heed to advice and treat what you're about to do with utmost care and caution.
True, no risk no gain... but is your wife ready to take the risk of losing everything? How is going to respond when you reveal to her that your the investment didn't go as planned?
You should try to invest what you can afford to loss not all that you have.

Rruchi man

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

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

Some Jewelries are very expensive when sold because they can retain their value and still have second hand value if you wish to resell. 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.

Selling your wife's Jewelry to invest in bitcoin is a good move before the jewelries are lost to theft. I think every one should put this strategy to consideration, those looking to increase their investments in bitcoins and happen to have some valuable jewelries that they do not wear very often again and has a good second hand value. You can consider selling some off and invest in bitcoins.

Rikafip

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

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.

For me necessities are food/utility bills/rent/medicine etc and not investments in high risk assets but to each his own.

Anyway, I wish you luck and I hope that you explained your wife the risks and not just "easy 10x" part so you don't have issues down the road if for whatever reason bitcoin doesn't perform as we hope/expect it will.

Obari

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Quote from: crypticj on March 01, 2023, 06:28:19 AM

I hope your wife is okay with that!
If she is, I think you can sell it and invest in some crypto. Considering that we are now pretty low in the market, you will earn 2x, or 3x in a year or so.
I always thought that all this jewelry doesn't really important, what is important is real money and technology.

Yeah I'm on the same opinion with you that since the wife agrees with selling then it's fine and ok but I'm sure you know that just as you're expecting to make some profits, there are also possibilities of making serious losses as to blowing your account due to the high volatility of Bitcoin?
I'm sure you know of the risk involved in owning digital assets.
On the contrary of jewelries not been important, I think jewelries such as gold and silver and also diamond are as important as crypto and they also serve a two way job as an asset and also as dressing accessories that can also boost ones status in his society.

CryptoBuds

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I just saw you explaining profits to your wife, and I didn't see you mention the risks that bitcoin can bring to your wife. We all hope and expect bitcoin to hit a new ATH in the upcoming bull season, but no one can guarantee it, it's all just a prediction. So you need to be more honest with your wife talking about the risks of investing in bitcoin, her gold could be lost. If she still wants to take that risk, you can sell gold to invest in bitcoin. Don't forget the saying: invest as much as we can lose.

Z-tight

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

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.

Sorry about your losses. But if you see this step you want to take now as a way to recover what you have lost, then you may be doing the wrong thing or investing the wrong way, before buying BTC, you must understand what you are doing and for how long you intend to hold, from your calculations you believe by 2024 you would "cash out", but what if you have to wait for much longer, can you hold on and still manage to foot your bills. Considering the amount you said you have lost in just a short time, investing too much into BTC is a bad idea, you can slowly buy BTC through dca.

From the 'moral' side of things, convincing your wife to sell her jewelries so you could invest in BTC is wrong, and i am sure you said it to her in such a way that profit is sure by 2024, try explaining everything to your wife perfectly, including the risks and see if she would affirm to the decision any longer.

MusaPk

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Quote from: TopTort777 on March 01, 2023, 07:10:34 AM

Whoops, someone is going to sleep on the couch today ? Cheesy

Why do you write that you are forced to sell your wifes yewelry? Does she insist on it? Or you are short in cash for everyday expenses. To be honest, those items on the picture does not look like they worth 3k. Id say that they look more like a bijouterie Grin

If I were you, I would not sell them. I think you should invest in bitcoin only your money, not the money of your wife. If she does not wear them, sell them and buy something else. Right now it looks like you have infected her with an idea of easy money, now she forces you to sell them, because she already have plans for those 30k, and you dont know how to get out from this situation, as you are not sure 3k will turn into 30k (or even many times less) in 2024.

This of this - if your plan fails, you will 100% get divorced and lose half of what you have. As she already know about bitcoin (in general), she definitely suspect that you have already bought bitcoin. And it does not matter if you have bought it @ 50k for example. She wont take half of your bitcoin holding, she will take 25k.

You screwed up completely with investment my friend Cheesy

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.

Beparanf

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

if I invest $3000 in Bitcoin now then there is a chance of getting 10x after 2024.

X10 on 2024 seems delusional target for a 1 year time span. The current price of Bitcoin is 23K and Bitcoin price needs to reach 230K to get that target profit of your which is almost not possible for next year target.

Your wife jewelry is her belongings and you should not sell it just for your personal inventory since there’s no guarantee that price will move on your target way. This is insane idea because your wife jewelry is not an investment and you should not value it as the price of gold. No one buy jewelry for investment in the future.

If I do this to my wife, I’m sure that I’m dead already.

Topic: Invest in Bitcoin by selling wife's jewelry - page 13. (Read 1711 times)