Invest in Bitcoin by selling wife's jewelry - page 14.

TopTort777

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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

lovesmayfamilis

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✿♥‿♥✿

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

NeuroticFish

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Looking for campaign manager? Contact icopress!

Quote from: LDL on March 01, 2023, 07:37:26 AM

No risk no gain...

First of all your wife should be OK with that. Then you have to be aware that the chances you'll ever buy back the exact same items is slim.
This being said, jewelry usually fits in "what you afford to lose" and bitcoin price is indeed expected to rise greatly (with the note that reality may or may not meet the expectations).

I would not do that, but I don't buy too much jewelry either - we don't keep more than what my wife wears - however, if my wife would keep some piece(s) for the memories they bring, I would probably not sell them for Bitcoin.
Still, it's your choice and I wish you best of luck! (which would mean bitcoin price rise greatly; something I do like to see.)

LDL

hero member

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Quote from: xSkylarx on March 01, 2023, 07:25:34 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.

Cantsay

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Bitcoin Casino Est. 2013

With the way you presented the topic to your wife you made it seem as if there's no risk involved if you invest in Bitcoin. ×10 by 2024 is not impossible but what are you going to do if the price of Bitcoin doesn't get to that and instead the opposite happens? Did you talk to your wife about it also? Will she be able to handle losses if peradventure it occurs.

If I were in your shoe I wouldn't sell all the gold I would have sold part of it and keep the rest for emergency situation since you stated that you don't have enough liquidity right now in your pocket.
Remember your own assets and investment is different from when you're helping someone invest.

Zaguru12

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Quote from: LDL on March 01, 2023, 07:16:11 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.

In my perspective this act of selling jewels defeats the first act of save investment into bitcoin. From your past experiences of cryptocurrency losses I could say you’re more or less a panic trader who focuses on making huge profits and not calculative of the losses you could encounter. What happens after selling your wife’s jewels and the pre determined profit wasn’t achieved, wouldn’t that prompt you to sell another asset?
Excessively selling properties for bitcoin investment will only make you loss more as you will not have the patience to bear the losses in bearish period. In as much as spending on jewels excessively is bad we can’t deny our selves the luxury of having them too because fashion is still key part of our lives

Invest what you can lose

crypticj

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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.

xSkylarx

hero member

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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.

LDL

hero member

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Quote from: Rikafip on March 01, 2023, 06:44:56 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, 06:44:56 AM

Quote from: LDL on March 01, 2023, 06:16:24 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.

salad daging

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Bitcoin To The Moon 📈📈📈

Remember that no one knows that bitcoin will reach $ 100k in 2024 after the halving, don't overdo it on unclear expectations, even though we think bitcoin is the best asset, but you have to remember that it takes a long time to produce better, while in 2024 there is only one left another year because we don't know how bitcoin will go up or down.

You sell gold jewelry because you don't have fiat money, so this is an emergency for your needs, so sell what you need, the rest, let it be your wife's savings to have gold, even though I know gold is a stable price compared to bitcoin, which has a risk high but keep coming back to your decision.

The two statements above certainly have different specifications, some say more gold or better bitcoin.

But I still won't sell gold, bitcoin will still be held while I can still look to continue adding to it.
I certainly have long term hopes for bitcoin.

Rikafip

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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.

Quote from: LDL on March 01, 2023, 06:16:24 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. 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.

There is no guarantee that bitcoin cross $100k in 2024 and if you are saying this to your wife, you are basically lying to her and I don't think that's smart thing either. Did you ever consider scenario in which bitcoin stays at these levels or even go below for the next few years, how you gonna explain this to her?

Quote from: LDL on March 01, 2023, 06:16:24 AM

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

And who exactly is forcing you?

Quote from: LDL on March 01, 2023, 06:16:24 AM

I seek advice from expert investors/holders/users of this forum,,,,
whether selling my wife's jewelery and investing on bitcoins makes sense?

Selling your own jewelry is another thing but asking wife to sell hers doesn't make much sense to me. Even though I believe that it will worth much more in the future than it is now, bitcoin is still high risk investment and I wouldn't endanger relationship with my wife in case things go south, which is always a possibility.

Bobrox

sr. member

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Your decision is good by selling your wife's jewelry and invested in Bitcoin but can't guarantee with your investment $3,000 will increase up later due not stable price from bitcoin could be up or down. Depend with gold or jewelry I think Bitcoin is best investment assets but looking on stable and without any inflation gold or jewelry investment is worth option.

Lets waiting until 2024 with $3,000 investment how much increasing up, will you earn double profit one years later or Bitcoin price keep stable due your decision with long term investment.

LDL

hero member

Activity: 700

Merit: 661

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?

Topic: Invest in Bitcoin by selling wife's jewelry - page 14. (Read 1704 times)