Topic: Invest in Bitcoin by selling wife's jewelry - page 3. (Read 1711 times)

In as much as we predict the market, our prediction is still on 50/50 chances, no one knows what will become of Bitcoin tomorrow or in 2024.
I believe your wife gave you the go ahead because she feels after 2024, you should be able to replace her jewelries, have you thought too, what if Bitcoin doesn't rise?? Would the be an explanation you could give her to take her down??

Can we pin this thread as one of the most hilarious threads here on bitcointalk   there is no issue to invest also large amounts of money into bitcoin or any other currency or asset. But there is an issue if you invest the money of somebody else with the expectation that it will easily give you a 10x return. This is simply nit guaranteed. But as it is sometimes lambo or divorce  

Agreed, OP has taken a right decision in that regard. Because he realizes that Bitcoin is going to be bullish after a certain period of time and if the price cross it's previous ath ‍, he is guaranteed to make a big profit. Moreover, Op must not take such a big decision without his wife's permission. He succeeded in convincing his wife about the Bitcoin situation which may have helped his wife to sell her jewellery. If he had sold when the OP made this post he could almost withdraw his investment if he want. However, it seems that he must plan for the long term with the potential of the market.

i can not give advice to sell your wife jewelery for bitcoin investment it is the right choice. Because in my opinion both are good investments. The decision to invest should be based on careful consideration and should not be taken hastily. It is better for you to explain again the risks regarding bitcoin and most importantly the wife's jewelry that is being sold must have permission from your wife so that there are no misunderstandings in the future.

Regarding the statement that Bitcoin is a better investment than jewelry, it should be remembered that Bitcoin is a very volatile asset and its value can rise and fall quickly and suddenly. Even though Bitcoin has provided significant returns for some people, there are still many risks associated with investing in Bitcoin. Meanwhile, jewelry has sentimental and historical value that can maintain its value for a long time, and can be passed on to the next generation as a family heirloom.

Therefore, before making an investment decision, you should do thorough research and consideration to ensure that the investment is in accordance with your goals and risk profile. Always remember not to take risks that you cannot bear and always consult your wife first if you feel the need.

As long your wife is okay with it and well-aware of the risks as well as the “no promise or guarantee” thing, then that’s fine.

In your statement here you said that it could have a chance to go “x10” in 2024 because of the Bitcoin halving. Real talk here. Bitcoin can’t guarantee you that. No astronomical or guaranteed returns. That’s what you need to prepare.

The concern is what if in the next day, week, month or so, BTC had “tanked” because of another “big bad news” similar to FTX, Terra Luna, bankruptcies, etc.? The truth is that we cannot avoid another bad news in the future that would tank the market.

Are you prepared for any circumstances like that later on especially that it’s your wife’s jewelry?

Coz’ I have seen some social media posts on FB, Twitter, etc., in which their partners have decided to broke up with their spouses, file divorce, etc., because of this kind of stuff. Just saying.

If I were in your shoes, I would rather look for extra ways to earn money and use it to buy Bitcoin rather than getting it from our salary, items with real value (especially jewelries), etc.

If he had sold his wife's jewelry then and invested in bitcoin, he would have made a profit now. But I won't be like him because we don't know what will happen with bitcoin in the future. What if bitcoin doesn't go up but goes down? What will happen to the wife's jewelry?

There is no certainty that we are at the end of bear season and bull season is coming. If you can be sure, why not sell your house or property to invest in bitcoin? Don't forget the saying we still remind newbies every day "Only invest with what we can lose"

Extra money from side income like most forum members do nowadays, from signature income, bounty or even airdrop.
I also applied this when I started investing in Bitcoin, I never use my monthly salary for crypto for the reason that I don't want to lose my salary when crypto crashes. not mixing monthly salary for daily life and money for crypto or investment.

Everyone does have their own view on investment and where to source the investment from.
If OP used his wife's jewelry, it would be a debt to be reimbursed anyway.
But it seems that OP has benefited from the beginning of his purchase until now the price of bitcoin has touched $30k, but will he sell his bitcoin holdings and buy gold again for his wife?

It all depends on the main purpose of the investment.
If you enter the bitcoin market because you know a bull market is coming soon and can reach a new ATH, then you should hold it until that target is reached.
We need to see if the Halving will happen soon. This will be a bullish trend and a good time to sell.

I am sure @OP is somehow happy with his investment now that Bitcoin has increased in price from the date he sold his wife jewelry to invest in Bitcoin.  The move is not in vain and proven to be profitable.  I wonder if @OP is planning to cash out the profit of his investment or stay to hodl the Bitcoin investment until the next Bitcoin uptrend.


I would do the same but I will invest not because of its volatility but rather because Bitcoin market is in the late bear market or early bull market and Bitcoin is a known trend that it will increase in price after halving and the possible breaking of ATH a year after the halving. 

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.

Although this does look the same but of course I think there is a slight difference in this.
When talking about wife's jewelry, even though it was indeed bought with the money you gave, I still think it belongs to your wife and actually I feel quite exaggerated to do something like that because investing is indeed very good but you don't have to sacrifice what your wife has .
I think there is such a thing as a better course of action with some of your own savings than auctioning off your wife's gold and investing the proceeds from the sale for bitcoins.

Op why must be your wife jewelry and not yours? I hope you also have some valuable and fashionable mental like wristwatch, necklace walking sticks and hats, etc. And all those things you have, and you prefer to sell your wife's own. Investing is a very good idea but I will not support the idea of using wife properties.

You make me remember the story of CZ. Guy sold his apartment @ China and bought BTC @ $600. Then BTC dropped to $200. In 2021, BTC touched $60000 and now trading around $30000. He is still around and recently bought a mansion @ Dubai.

https://twitter.com/cz_binance/status/1064901607425376257/

https://www.bloomberg.com/news/articles/2021-11-19/binance-chief-zhao-buys-his-first-home-in-pro-crypto-dubai

Be a strong hand. One day you'll be able to return the jewelry to your wife and buy a home for her. May be you'll be able to afford another wife as well.

I don't usually respond in such threads, to be honest, and of course, I don't when it's on 10-11 pages, it's kinda spam mega thread. Hhampuz, you can ignore this post when counting the campaign post. I'm only interested to post here because LDL, the OP is from my country.
LDL, I don't know how you decide to do so and how you convinced your wife but you know jewelry is a precious thing especially when it's something you have gifted your wife. Imagine, you have lost most of it and your wife is blaming you for that. I'm sure the regret will be such that you can't take it anymore. I'm sharing my opinion based on the culture of our country. Jewelry is something an asset for your wife, that's your wife's personal asset. What if you have lost them by investing in Bitcoin as Bitcoin may have a long-running bear market? The possibility! Your wife won't understand that you have lost them by investing them into Bitcoin or whatever. What she will know is you owe her the jewelry.
To invest in Bitcoin, try doing something extra. Spend your idle time earning some money and invest them into Bitcoin. I always wanted to invest in Bitcoin from the money which don't impact me by any means. Even at the beginning, I was hesitating to invest my earning from my small business I have locally. You have done something you shouldn't. Some may argue with me here but my opinion is based on totally the culture in our country. People should know what jewelry means to a Bangladeshi women before they share their opinion here.

I don't see anything wrong with what you did because the result was good and your wife was also happy, right? so I think that's okay.

     Then there are still many opportunities for you to do that again and it's not too late in these opportunities, you can still do it again in my opinion, so I still congratulate you anyway for the profit you got.

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

Bitcoin is a much better investment than good for many reasons. I would be very careful selling your wife’s jewellery though. If she loves them for sentimental reasons then you better be damn sure that you are going to make good profit in quick time.

If she is willing to give you at least 10 years to sit on your bitcoin & do nothing then it’s as close to a guarantee as you can get that you will turn her jewellery money into major profits.

This depends completely on the purpose of the investment. The good thing about investing in BTC is that its value can be easily converted to cash by engaging in p2p exchanges and services in the event that they need the money for some urgent purpose.

Personally, I would have done the same thing if I have the luxury of having jewelries that can be disposed of for investment purposes. While precious metals are already considered as investments, I still prefer investing in cryptocurrencies due to its volatility- either investing for short/long-term depending on its price on the market.

You did right!
And well done to your wife for making the decision and realising there were gains to be made.
As I said in my last post in this thread, they are only material posessions, they can be replaced,
obviously there are items with "sentimental" value which are more difficult to replace.

You will certainly see bigger gains by HODLING you Bitcoin than Holding Gold!

Dont worry about the market price now, HODL for the future!

I observed the market around the time you sold your wife's gold jewelery and invested in Bitcoin. And if you hold on to that investment till now, you might be able to make another piece of jewelry for your wife with the amount of profit you have earned so far. But at that time if you had not sold the gold and kept it like that then maybe you would not have earned so much profit today. But not without appreciating your risk-taking. What could be more important than that you take risks and your wife supports your risk taking tendencies.  Congratulations to you.

Yes I definitely took my wife's permission to sell jewellery, but happily I sold 1700 dollars worth of jewelery and returned the rest of the gold to my wife without selling it. Today I have grown that $1700 to over $2000. Making $300 profit by selling my wife's jewelry is a real joy because if I had kept the gold I would not have made the $300 profit. Now my regret is that I did not sell the rest of the gold and returned it to my wife. If I had kept it invested in bitcoins instead of giving it back to my wife, I would have made much more profit today.