Invest in Bitcoin by selling wife's jewelry - page 9.

harizen

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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?

If it's reasonable to do so should be based on your own view and not ours. You are dealing with a plan where there are lots of "what if". No one knows if that plan of yours will be effective in the long run. Both choices considerably make sense but that would not end there as on the way, you need to take action in order to fully utilize what you did.

Diversification or doing all-in, it's your call. Good luck.

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OP have made wise decision, but he should have things planned well and executed. We don't know how the market changes tomorrow. I'm sure the market will be in good position in the future, but to experience the same we need the patience. When we don't have patience and we're in need of money we may end up cashing out when the market is bearish. To overcome such situation it is good to plan well and secure yourself having the necessary funds out of your job to meet all your needs. So, that the bitcoin investment doesn't need to be touched at any instance. Can be used when the market is in good shape.

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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?

It is not unusual to have this type of decision, it's like selling other things for bitcoin that I have seen before and probably most of the people here as well.

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

Is it reasonable to invest in gold rather than bitcoin?

It is reasonable to invest wherever you are comfortable. Even if it's bitcoin, jewelry, gold, other precious metals, and so on. As long as both of you, you, and your partner have agreed to buy the asset altogether. Choose what you think is best for both of you but you can also combine both of your knowledge in jewelries and in bitcoin so you have both investments.

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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?

I would not say it’s unreasonable but it’s one way to secure your investment since gold is proven to be a reliable investment in time. But I believe bitcoin is a reasonable investment too, it’s just that the risk is high so if we can’t handle the pressures investing in bitcoin, then it’s better not to do it from the start. However, if you are deeply convinced that bitcoin is better than gold, then invest it by not disposing your gold investment. You can earn more if you keep both investments in the long term.

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Quote from: Uruhara on March 02, 2023, 03:34:02 PM

Quote from: alastantiger on March 02, 2023, 02:02:32 PM

Selling assets to invest in bitcoin, especially wife's valuable jewelry like gold, is never a terrible idea as it will result in greater profit and allow you to buy your wife new jewelry that is even better than the one she now has. But, there is never a promise that you will make money. You could lose money during a down market and make money during a bull run. Selling the wife's jewels is therefore neither good nor bad because there is no guarantee of a profit or loss of 100%.

As long as OP and family are aware of the risks being taken. and as long as selling the jewelry doesn't bankrupt the family then maybe this still makes sense. but it's a little weird to know. at least the jewelry seems to be his wife's savings which are indeed a cool asset, aka not going to be used in the near future. and his wife were ready to take the risk and were willing not to wear jewelry. But I wish the OP didn't sell all the jewelry. and leave some.

Yes its true that there's no wrong about the decision as long both wife and husband are aware on what they are dealing with on which they are really that prepared if ever their investment becomes negative even

though its really hard to believe to be on that way considering that we do know the potential price of Bitcoin in long term.They might had able to sacrifice their jewelries now but it turns out to be beneficial on longer times which they could buy even more of those if it turns out to be profitable.This is why it would really be just depending about their decisions both two.
If one does only have that decision and turns out to be negative then for sure it would create quarrels and disappointments.

SOKO-DEKE

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Op, as for me i don't like selling things that I have achieved and risk it to get more of it in anywhere, but I will rather risk the money I have at particular time or wait it I get the money I can afford to risk.so I can't advise you to sell or not to sell but that should depend on your research, if you see more evidence that if you sell your wife jewelry and invest the money in bitcoin you will gain much as you think, you can sell it.but always remember the one advice in cryptocurrency industry,invest what you can only afford to lose.

At first time I don't know why you even convinced you wife to sell her jewelry and buy what you are not 100% have guarantee over it.it will even be better to have teach your wife about Bitcoin and let her know the importance of Bitcoin and get herself convinced with more evidence than just advise her to sell and invest in it in bitcoin other to make profits. so let tell you that Bitcoin is not only about making profits but also about privacy which is more important part.

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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 may be more expensive, but don't forget that its price is very volatile and unpredictable. You don't rely on Bitcoin only for long-term investment, better to diversify your investments in several things.

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.

No one can guarantee that Bitcoin will reach $100k in 2024, it is just a speculation. Even if it makes sense and realistic target to reach, there are many factors to make it possibly fails. For example, if we have a severe economic crisis around the world in the next year or we have wars issue again. Or some bans related to crypto can lead to a failure in achieving a new ATH of BTC. Please consider these factors, too!

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.

Never force yourself or your wife to invest in Bitcoin. People must invest in Bitcoin with the amount of money that they can afford to lose it. No one can guarantee the future of Bitcoin, dude!

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Quote from: alastantiger on March 02, 2023, 02:02:32 PM

Selling assets to invest in bitcoin, especially wife's valuable jewelry like gold, is never a terrible idea as it will result in greater profit and allow you to buy your wife new jewelry that is even better than the one she now has. But, there is never a promise that you will make money. You could lose money during a down market and make money during a bull run. Selling the wife's jewels is therefore neither good nor bad because there is no guarantee of a profit or loss of 100%.

As long as OP and family are aware of the risks being taken. and as long as selling the jewelry doesn't bankrupt the family then maybe this still makes sense. but it's a little weird to know. at least the jewelry seems to be his wife's savings which are indeed a cool asset, aka not going to be used in the near future. and his wife were ready to take the risk and were willing not to wear jewelry. But I wish the OP didn't sell all the jewelry. and leave some.

tjtonmoy

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I think having multiple option will increase your chances of profits and less chance of losses. If you keep some and sell some to invest in bitcoin, I guess you can profit from both. We only predicted that Bitcoin's price will increase in the future, but who has seen the future? Bitcoin is a high risk, high profit investment plan. If you can take that risk, then sure, why not?
And Gold is a slow profit investment asset, but it's not going anywhere. Keep some of it, too.
One more thing, I just want to tell that, be sure to share your security with your wife so that you both have equal access to it.

erep

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Quote from: indah rezqi on March 02, 2023, 11:52:38 AM

Then afterwards we will hear; Selling household furniture to invest in bitcoin. Lol

In the past some people may have had the same intention to invest in bitcoin or other crypto. They sell jewelry, cars, motorbikes, or maybe other unused items to invest. There is potential for profit, but it's not a good idea if you really can't control yourself against the risk. Even some time ago someone sold a house to invest in bitcoin, it's up to you and them.

It's just that, invest wisely in bitcoin and you can't just believe what you've seen before. We all never know the future or what will cost you your investment budget, so don't go for anything you can't afford to lose, and consider otherwise.

I often get the news when the market is bullish, LOL,

I don't assume that's something bad, they have motorbikes, cars and many other properties but the value of goods assets will decrease when goods are obsolete unless gold has the potential to increase in price, so diverting goods assets for bitcoin investment is not a bad choice but types of goods are not priority for use in daily activities, when inflation many people change their financial strategy for savings and prioritize profitable investments for the future, so the choice of bitcoin is the right choice for that but they must have knowledge about bitcoin before they get involved investing in bitcoin.

alastantiger

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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?

Selling assets to invest in bitcoin, especially wife's valuable jewelry like gold, is never a terrible idea as it will result in greater profit and allow you to buy your wife new jewelry that is even better than the one she now has. But, there is never a promise that you will make money. You could lose money during a down market and make money during a bull run. Selling the wife's jewels is therefore neither good nor bad because there is no guarantee of a profit or loss of 100%.

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

Bitcoin will cross $100k after halving in 2024

I didn't know you could see into the future. I guess you are a very valuable asset for the forum with such skills. Grin

What else WILL happen so we are prepared for it?

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

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

Now it's just a chance and possibility? I though bitcoin will cross $100k.

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.

If you don't have any money, don't invest. It's as simple as that. No one is forcing you to sell anything. You made that decision for whatever reason. Jewelry isn't really something that will increase in value long-term. Gold has a tendency to go up, but when you guy jewelry, you aren't just paying for the value in gold, so it's ok.

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

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

Generally, I have never been a fan of selling something you need to purchase bitcoin. Especially if that something is essential to your life. Jewelry isn't essential, but I am sure you sold it a loss.

Gladitorcomeback

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May be you think your decision is trustworthy but i think that gold is stable as compared to bitcoin. Bitcoin is famous and most acceptable coin and everyone in this era wants to make investment in Bitcoin but you do not have any string evidence about its price elevations, you do not have any idea about what will be the situation of market tomorrow.

Gold sometimes reduces in price but not as much as crypto market drops and selling your wife's gold for investment in Bitcoin have no surety that it will give you higher cost as you aspects. If unfortunately the market become down and takes certain years to recover then what will you do? In fear of loss you will definitely sell your bitcoin at low price and your cash of gold will reduces.

I know some people prefer bitcoin but I think that bitcoin always skyrocket but price contains uncertainty so this is a hazardous thing about its success.

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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?

Haha I can see the name of the next thread: Invest in Bitcoin by selling my kidney Grin

Jokes aside, I guess if your wife is ok with that why not? Go for it, no pain no gain! The craziest, riskiest decisions in life bring the most profit if you succeed.

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Quote from: Captain Corporate on March 02, 2023, 09:16:54 AM

My wife would probably kill me lol. If we did this back in the day, we would have probably close to a billion dollars right now, depending on when we did it of course, I mean like when bitcoin was 10 bucks, but of course I wouldn't do it at all, its like the signing of my death paper Cheesy

All in all, its of course great if you could have the balls to do it, because in the end if you get richer, then your wife would be happy too, which wife would say not to a lot of money, they would be pretty excited about it. But in order to do it, you would have to risk a lot and that would cause a lot of trouble for you and definitely not something I would do.

Same here. If we had no money she'd tell me to take a loan or sell some bitcoin and spare her bling Cheesy

After taking a look at that jewelry I tend to think she must be Indian or Middle Eastern because the jewelry looks pretty traditional for that area. Where I live we don't wear "heavy" gold and this kind of bracelets.

Anyway, I wouldn't do that if she's attached to it, unless you have no money for food.

famososMuertos

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I think there is something begging in your story, I'm sorry, that's the impression it gives me, on the other hand, I have already mentioned it in other posts, common sense must prevail, life experience, savings, expenses, investments, pay bills, buy a house, a car, purchase goods, etc.

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

..../no/...:::

Frankolala

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Why going extra miles to purchase bitcoin because of your greed towards making huge profit after the halving. Who told you that bitcoin price will reach 100k at 2025,nobody can tell the exact amount that bitcoin price will hit during the bull run and don't be deceived. You are gambling with your marriage because of money.

Due to bitcoin volatile nature, I would prefer to invest on gold rather than selling it for bitcoin because we don't know what will be the outcome of bitcoin at the long run. Gold is sure a guaranteed assets that will keep on increasing in value. There is this say that only invest with the money that you can afford to lose, so that you will be on the safer side,in case bitcoin price goes below the purchased amount.

indah rezqi

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Then afterwards we will hear; Selling household furniture to invest in bitcoin. Lol

In the past some people may have had the same intention to invest in bitcoin or other crypto. They sell jewelry, cars, motorbikes, or maybe other unused items to invest. There is potential for profit, but it's not a good idea if you really can't control yourself against the risk. Even some time ago someone sold a house to invest in bitcoin, it's up to you and them.

It's just that, invest wisely in bitcoin and you can't just believe what you've seen before. We all never know the future or what will cost you your investment budget, so don't go for anything you can't afford to lose, and consider otherwise.

OgNasty

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Make sure to keep us updated with the results of this action. I tend to think that it's not a good idea to sell other people's precious items to buy crypto currency, but what do I know. I will say that I'm very curious about the ROI of said investment and what sort of added costs come into your life as a result. Typically, divorce is pretty expensive but if you're right you should make a decent profit from your decision. The question is, once all the divorce costs are paid and you're on your own, will the money you made be worth it, or will you crave the life you had before selling your wife's jewelry. I guess everything has it's price. Curious how this works out for you.

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Quote from: Reid on March 02, 2023, 10:30:29 AM

Save money, go get a job, sell your kidney, there's a lot of options to make money and I'd rather take that path than risking my wife's jewelry into something that has no real assurance.

Really, Unless your wife really likes her jewelry and cannot do without them, I do not think your wife prefer you sell your kidney in a process that can take your life, than her Jewelries.

Unless the jewelries are those ones that are rare, hard to replace, special, has some meaning to her and really precious, I do not see any other reason why your wife, someone who you both agreed to fight challenges together will prefer you sell your kidney to get money for both of you than her jewelries that you can always get and replace when things get better.

Topic: Invest in Bitcoin by selling wife's jewelry - page 9. (Read 1711 times)