Invest in Bitcoin by selling wife's jewelry - page 2.

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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?

This jewelry belongs to your wife, and I would have said No that it doesn't make sense only if had she not given you the consent to go ahead & sell her jewelry to be used for investing in Bitcoin, because the fact that she saw the potential in Bitcoin and gave you a go ahead, who am I to say No.

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Is it reasonable to invest in gold rather than bitcoin?

Gold was a good option for investment many years ago, but in this 21st century, Bitcoin has taken over the game, and as such I will advise you to invest in Bitcoin rather than Gold, as it has got a good tendency of skyrocketing high after next year's halving.

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

It is good that you have taken the initiative of investing. But selling your wife's hobby and investing in jewelry is not good in my opinion. Because there is no guarantee that you will make a profit by investing. What to do when you can lose by investing? But I think you will get 80% profit on your investment .

Sayeds56

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Quote from: bayu7adi on April 17, 2023, 04:54:12 PM

Undoubtedly, it is true that in order to achieve any goal of significance, one must be willing to take a risk and put something valuable on the line. However, it is crucial to remember that taking a significant risk without carefully considering the consequences can be extremely dangerous. Bitcoin is an asset with significant risks and potentially high returns.

It is true that sometime we have to take tough decisions to achieve a significant goal which can potentially transform our lives, and such decisions are always associated with risk. However, it is very important to carefully evaluate pros and cons of such decisions because many times in life thing unfold the way which we had not anticipated. In my opinion, Bitcoin can be risky in the short term but its long term potential to outperform is reasonably assured to certain degree.

rhodelmabanal

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Quote from: LDL on March 01, 2023, 06:16:24 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 think you need to decide or think twice before doing this, you know what bitcoin is unstable and sometimes its price is slowly moving and you need to wait so many years before you can get profit from your investment, however if you will be lucky and btc rise next year then you will earn, i hope you only invested an amount that you can afford to loss and i hope you're wife already understand bitcoin, because it really need a proper understanding.

Ojima-ojo

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First this has been a very bad idea and worst investment decision anyone can make, bit then you were lucky to have taken this step at the right time and indeed this will pay off just as you are already at profits already since you bought those Bitcoin when the price was still below $20,000 and now we are above ¢30,000 at the moment which put you on a 5% gian at the moment, secondly my good friend LDL you will need to make efforts to make a replacement for those jeweries for your wife in other not to keep her waiting for too long, at least while you wait for Investment make profits, y should use your other resources to get your wife a new set of jeweries as a conspesation t this action because your wife must be an understanding person to have agreed to your siggestions.

puloweh555

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I think it's the wrong choice if your wife is the only jewelery she has. I think your decision to invest in Bitcoin or gold depends on your economic situation and condition. Investing in Bitcoin carries a higher risk than investing in gold, because the price fluctuations of Bitcoin are much bigger and unstable. However, Bitcoin also offers greater profit potential in the long term.

However, it is important to consider carefully before investing in Bitcoin. Don't just be tempted by the huge profit potential, but also understand the risks and drawbacks of these investments. As for saving in gold, even though it doesn't offer big profit potential in the short term, gold can be a safer and more stable choice in the long term. Gold price fluctuations tend to be stable and not too risky, so it is suitable for long-term investment.

Regardless of the investment option you choose, be sure to consider it carefully and always focus on the long term. Don't get too tempted by the potential for big profits in the short term and avoid making emotional decisions.

Twentyonepaylots

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Quote from: Wiwo on April 17, 2023, 05:14:00 PM

Quote from: danadc on April 17, 2023, 02:35:15 PM

I would not recommend selling the wife's jewelry unless she wants to, although having that money and then putting it in bitcoin is not a bad idea, because it would multiply the money that can later buy those jewelry again, but making that move with her consent, and well I don't see it badly, I also agree when someone borrows money to be able to invest in bitcoin, this when they can pay the loan, because it is not known when the bticoin will increase, or blaze de price or something like that, but I wouldn't last it is to sell jewellery and buy bitcoin, I would.

After a long thought about ops decision to sell his wife's jewellery to buy Bitcoin, I came to the realization close to what Ops thought before taking this route and that thought is the same as if the jewellery is of value and it includes gold and other precious materials which are convertible into another asset such as Bitcoin then I don't see anything wrong in ops decision even though his decision is a risky one and he may lose a large portion of that investment if the price of bitcoin suddenly slides below his bought price.

That way the ops will have to wait for an unspecified time, which has to do with a lot of patients waiting until the price will pick, and in the other hand, ops could become lucky such as now that the price of Bitcoin has risen significantly ops will be at profits right now since he bought the bitcoin at the previous discounted price.

This is also what I think since if you think of it the potential of it as an investment you could make its value be doubled someday. But this is still a risk that both the op and his wife need to fully accept. Always consider the risks and its benefits so that you can weigh in how successful you could be when you do this.

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Quote from: martyns on April 17, 2023, 04:46:55 PM

Quote from: danadc on April 17, 2023, 02:35:15 PM

I would not recommend selling the wife's jewelry unless she wants to, although having that money and then putting it in bitcoin is not a bad idea, because it would multiply the money that can later buy those jewelry again, but making that move with her consent, and well I don't see it badly, I also agree when someone borrows money to be able to invest in bitcoin, this when they can pay the loan, because it is not known when the bticoin will increase, or bvaje de price or something like that, but I wouldn't last it is to sell jewelry and buy bitcoin, I would.

This can be a little risky,and at thesame time can still produce something superb.It isn't bad when you have an asset and sell because you want to invest in Bitcoin,but you have to still know that it is quite risky to do that because nobody knows when the bitcoin will rise and when it will fall,that is why it is always good to make research and to know the season when Bitcoin rises and when it falls.If a jewelry is sold because of Bitcoin,and at the end of the day the end product becomes positive and yields good result,it is still very good,but when it becomes dormant,or it falls is when it can be problematic to the investor.Which ever way will be okay,it's just still good to try your luck and see whether you will be happy at the end if the day or not.

Making up decisions on buying or investing on something does really need up in both decisions wife and husband which this doesnt should involved any secrets or hiding up something because this would really be in resulting into lots of trouble if one will be able to find out on what you have done. Selling out your wife posessions without even trying to tell her would definitely be ending up on quarrel or really be having those
possible argumentation on what you have done.Its better to let her know on what are your plans if ever if you dont have the money to invest rather than on stealing up her belongings which is
something that really goes out on border line or something that you dont respect someone with this kind of action specially on your wife.

Wiwo

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Quote from: danadc on April 17, 2023, 02:35:15 PM

I would not recommend selling the wife's jewelry unless she wants to, although having that money and then putting it in bitcoin is not a bad idea, because it would multiply the money that can later buy those jewelry again, but making that move with her consent, and well I don't see it badly, I also agree when someone borrows money to be able to invest in bitcoin, this when they can pay the loan, because it is not known when the bticoin will increase, or blaze de price or something like that, but I wouldn't last it is to sell jewellery and buy bitcoin, I would.

After a long thought about ops decision to sell his wife's jewellery to buy Bitcoin, I came to the realization close to what Ops thought before taking this route and that thought is the same as if the jewellery is of value and it includes gold and other precious materials which are convertible into another asset such as Bitcoin then I don't see anything wrong in ops decision even though his decision is a risky one and he may lose a large portion of that investment if the price of bitcoin suddenly slides below his bought price.

That way the ops will have to wait for an unspecified time, which has to do with a lot of patients waiting until the price will pick, and in the other hand, ops could become lucky such as now that the price of Bitcoin has risen significantly ops will be at profits right now since he bought the bitcoin at the previous discounted price.

bayu7adi

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Many voices have sounded the alarm about the risks that you may face. It is a well-known fact that no one can predict the future, no matter how hard they try (except for luck in guessing).

If your jewelry only constitutes a small portion of your wealth (possibly less than 10%), and you still possess a multitude of other assets that can keep you afloat even without it, then your decision is not bad.

When it comes to the future of Bitcoin, everyone seems to have their own arguments and speculations. Nevertheless, it is crucial to bear in mind that no one can guarantee that the future will unfold as expected. The demand for Bitcoin is highly dependent on the trust that its owners have in it. Therefore, maintaining this trust is vital to sustain its demand.

Quote from: NicNacCoin on April 17, 2023, 01:42:14 PM

However, the next halving of Bitcoin is expected to be in 2024 and its risky investment will bring a lot of success. No one will ever be successful in investing unless they are willing to take risks.

Undoubtedly, it is true that in order to achieve any goal of significance, one must be willing to take a risk and put something valuable on the line. However, it is crucial to remember that taking a significant risk without carefully considering the consequences can be extremely dangerous. Bitcoin is an asset with significant risks and potentially high returns.

martyns

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Quote from: danadc on April 17, 2023, 02:35:15 PM

I would not recommend selling the wife's jewelry unless she wants to, although having that money and then putting it in bitcoin is not a bad idea, because it would multiply the money that can later buy those jewelry again, but making that move with her consent, and well I don't see it badly, I also agree when someone borrows money to be able to invest in bitcoin, this when they can pay the loan, because it is not known when the bticoin will increase, or bvaje de price or something like that, but I wouldn't last it is to sell jewelry and buy bitcoin, I would.

This can be a little risky,and at thesame time can still produce something superb.It isn't bad when you have an asset and sell because you want to invest in Bitcoin,but you have to still know that it is quite risky to do that because nobody knows when the bitcoin will rise and when it will fall,that is why it is always good to make research and to know the season when Bitcoin rises and when it falls.If a jewelry is sold because of Bitcoin,and at the end of the day the end product becomes positive and yields good result,it is still very good,but when it becomes dormant,or it falls is when it can be problematic to the investor.Which ever way will be okay,it's just still good to try your luck and see whether you will be happy at the end if the day or not.

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Quote from: NicNacCoin on April 17, 2023, 01:42:14 PM

Quote from: coinerer on April 17, 2023, 10:42:15 AM

Most people invest in Bitcoin by taking loans or selling jewelry? Do you have any idea how much that might be? Where did you find this out? It's rare to see someone sell their valuables or Necessary items or take a loan to invest in Bitcoin. those who do this are at high risk, but if the Bitcoin price pumps up to their target and can sell at the right time, they stand to make good profits. But in my opinion it is not right to do so. Everyone should invest according to their ability

It is best to invest according to one's ability to invest. What OP has done here is as good as it is risky in other ways. If he can make profit in investment after investment then surely it will be right decision for him. But if he loses here, it will be a very bad thing for him. However, the next halving of Bitcoin is expected to be in 2024 and its risky investment will bring a lot of success. No one will ever be successful in investing unless they are willing to take risks.

If I see this risky person is already in favor of profit. If he is invested on Bitcoin on 1 march 2023 then the price of bitcoin on that was around 23k and now it is touching around 30k. I think it is not that bad idea because he is investing on bitcoin I think at the end of the day he will definitely able to catch some good profit. But jewelries if made of gold is also a good around stable asset if we see that gold price is also going to up . Even then I will not suggest to everyone to invest on it .

danadc

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I would not recommend selling the wife's jewelry unless she wants to, although having that money and then putting it in bitcoin is not a bad idea, because it would multiply the money that can later buy those jewelry again, but making that move with her consent, and well I don't see it badly, I also agree when someone borrows money to be able to invest in bitcoin, this when they can pay the loan, because it is not known when the bticoin will increase, or bvaje de price or something like that, but I wouldn't last it is to sell jewelry and buy bitcoin, I would.

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Quote from: coinerer on April 17, 2023, 10:42:15 AM

Most people invest in Bitcoin by taking loans or selling jewelry? Do you have any idea how much that might be? Where did you find this out? It's rare to see someone sell their valuables or Necessary items or take a loan to invest in Bitcoin. those who do this are at high risk, but if the Bitcoin price pumps up to their target and can sell at the right time, they stand to make good profits. But in my opinion it is not right to do so. Everyone should invest according to their ability

It is best to invest according to one's ability to invest. What OP has done here is as good as it is risky in other ways. If he can make profit in investment after investment then surely it will be right decision for him. But if he loses here, it will be a very bad thing for him. However, the next halving of Bitcoin is expected to be in 2024 and its risky investment will bring a lot of success. No one will ever be successful in investing unless they are willing to take risks.

coinerer

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Quote from: cozytrade on April 16, 2023, 06:06:38 PM

Quote from: coinerer on April 16, 2023, 01:21:56 PM

Quote from: imamusma on April 15, 2023, 04:01:46 PM

Quote from: coinerer on April 15, 2023, 11:56:31 AM

Not only bitcoin but gold also increases in price over time, although bitcoin has gained hundreds of times more than gold in the last 10 years, no one can guarantee that the price of bitcoin will increase hundreds of times more than gold in the next 10 years. So if this jewelery is op's wife's only jewelery and she has no alternative jewellery, then op has made a wrong decision. But if op's wife has alternative such jewelery then this decision is not op's wrong. but the op's actions should be commended. And wish him success in his plans

Many people are eager to sell anything to invest in bitcoins, including houses, gold or anything else of value. Even some people will take out a loan to invest, but I would not completely blame them if bitcoin was an investment choice.
Even though bitcoin is a fluctuating asset, especially regarding its price, in my opinion bitcoin is an asset that has a good performance compared to gold. The OP very likely realized that bitcoin would give him a fairer return than gold, so I agree with the idea. But whatever it is, the risk should still be considered instead of just thinking about returns. Not only about price volatility, but wallet security risks also have to be taken seriously.

Bitcoin is a potential coin and we know bitcoin has a bright future but no one can guaranteed that when bitcoin will high pump like 4x to 5x and when you will sell your any valuable assets and invest in bitcoin then you must have the imperfection of that thing and the incompleteness of that thing can cause you many problems at times. So don't invest in Bitcoin by selling anything that might get you into trouble

Yes I think that's right there are some people who think of investing in Bitcoin most of the time they either take a loan from the bank or sell their wife or family member's jewelry. We can see these from different topics. I think it would be best to invest if we have money without thinking about these things. If we invest in Bitcoin, we have very little chance of losing. I thought I would invest some of my money. At Bitcoin.

Most people invest in Bitcoin by taking loans or selling jewelry? Do you have any idea how much that might be? Where did you find this out? It's rare to see someone sell their valuables or Necessary items or take a loan to invest in Bitcoin. those who do this are at high risk, but if the Bitcoin price pumps up to their target and can sell at the right time, they stand to make good profits. But in my opinion it is not right to do so. Everyone should invest according to their ability

cozytrade

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Quote from: coinerer on April 16, 2023, 01:21:56 PM

Quote from: imamusma on April 15, 2023, 04:01:46 PM

Quote from: coinerer on April 15, 2023, 11:56:31 AM

Not only bitcoin but gold also increases in price over time, although bitcoin has gained hundreds of times more than gold in the last 10 years, no one can guarantee that the price of bitcoin will increase hundreds of times more than gold in the next 10 years. So if this jewelery is op's wife's only jewelery and she has no alternative jewellery, then op has made a wrong decision. But if op's wife has alternative such jewelery then this decision is not op's wrong. but the op's actions should be commended. And wish him success in his plans

Many people are eager to sell anything to invest in bitcoins, including houses, gold or anything else of value. Even some people will take out a loan to invest, but I would not completely blame them if bitcoin was an investment choice.
Even though bitcoin is a fluctuating asset, especially regarding its price, in my opinion bitcoin is an asset that has a good performance compared to gold. The OP very likely realized that bitcoin would give him a fairer return than gold, so I agree with the idea. But whatever it is, the risk should still be considered instead of just thinking about returns. Not only about price volatility, but wallet security risks also have to be taken seriously.

Bitcoin is a potential coin and we know bitcoin has a bright future but no one can guaranteed that when bitcoin will high pump like 4x to 5x and when you will sell your any valuable assets and invest in bitcoin then you must have the imperfection of that thing and the incompleteness of that thing can cause you many problems at times. So don't invest in Bitcoin by selling anything that might get you into trouble

Yes I think that's right there are some people who think of investing in Bitcoin most of the time they either take a loan from the bank or sell their wife or family member's jewelry. We can see these from different topics. I think it would be best to invest if we have money without thinking about these things. If we invest in Bitcoin, we have very little chance of losing. I thought I would invest some of my money. At Bitcoin.

Sayeds56

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

Is it reasonable to invest in gold rather than bitcoin?

I would suggest you to take full consent of your wife before selling her jewelry, as it is always important to maintain open communication and mutual agreement before taking any major decision. Regarding investing in Bitcoin or Gold, both have their pros and cons. Gold has been a long standing store of value since centuries, and in early days of civilization it was the first currency to be used for trading goods and services. Bitcoin is relatively new asset but it has become very popular due to it decentralization and potential of high returns.

Ultimately, its your decision to sell jeweley to invest in Bitcoin which depends on your financial situation, goals, risk tolerance and investment strategy. It is always a good idea to make your own research before taking any investment decision.

coinerer

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Quote from: imamusma on April 15, 2023, 04:01:46 PM

Quote from: coinerer on April 15, 2023, 11:56:31 AM

Not only bitcoin but gold also increases in price over time, although bitcoin has gained hundreds of times more than gold in the last 10 years, no one can guarantee that the price of bitcoin will increase hundreds of times more than gold in the next 10 years. So if this jewelery is op's wife's only jewelery and she has no alternative jewellery, then op has made a wrong decision. But if op's wife has alternative such jewelery then this decision is not op's wrong. but the op's actions should be commended. And wish him success in his plans

Many people are eager to sell anything to invest in bitcoins, including houses, gold or anything else of value. Even some people will take out a loan to invest, but I would not completely blame them if bitcoin was an investment choice.
Even though bitcoin is a fluctuating asset, especially regarding its price, in my opinion bitcoin is an asset that has a good performance compared to gold. The OP very likely realized that bitcoin would give him a fairer return than gold, so I agree with the idea. But whatever it is, the risk should still be considered instead of just thinking about returns. Not only about price volatility, but wallet security risks also have to be taken seriously.

Bitcoin is a potential coin and we know bitcoin has a bright future but no one can guaranteed that when bitcoin will high pump like 4x to 5x and when you will sell your any valuable assets and invest in bitcoin then you must have the imperfection of that thing and the incompleteness of that thing can cause you many problems at times. So don't invest in Bitcoin by selling anything that might get you into trouble

AnonBitCoiner

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Quote from: Bobrox on March 01, 2023, 06:42:19 AM

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.

Agree with you because gold is stable as compared to bitcoin. Selling one thing to put money in another thing which have no guarantee is not a good way in my opinion. I think that you should store this gold because it will be more worthy in future and there is not such higher risk in gold investment as compared to the bitcoin.

Quote from: Bobrox on March 01, 2023, 06:42:19 AM

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.

Yes 2024 will be good year because coming years will be a Bull year with occurrence of halving but crypto is really volatile there is no surety but the value of gold cannot decrease more. It was noticed previously that after each halving the price moves in positive direction and it is investigated the price boost after each halving but we don't have actual knowledge about the future and we are not sure about the increase or decrease movement of bitcoin.

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Bitcoin might not cross 100k in the next bull market, the last ATH is 69k, and the next one can be 95k max, it is always advisable to have a target on all your crypto holdings and start talking profits once the price becomes real.

I don't buy the idea of selling something that belongs to my wife for investment because we all know women, I would rather sell what's mine, as I did a month ago when I sold my land to buy Bitcoin, I don't see any reason not to because I still have many more lands.

If your wife want to become a Bitcoin holder by selling her jewelries then it is good for her, you can help her sell the jewelry and hand over to her the Bitcoin, do make sure you teach her the right procedure to keep her Bitcoin safe.

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