Invest in Bitcoin by selling wife's jewelry

[Cantsay]

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 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.

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[Smack That Ace]

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.

[Luzin]

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.

[Rockstarguy]

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.

[inthelongrun]

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.

[kamvreto]

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.

[NicNacCoin]

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.

[rat03gopoh]

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.

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?

[naira]

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.

[Jawhead999]

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.

[Lucius]

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.

[Yogee]

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.

[m2017]

~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.

[coinerer]

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?

The demand of people to invest in Bitcoin is increasing day by day and there are thousands of stories of people selling their hard assets like houses, cars, land, etc. to invest in Bitcoin.  I am still confused as to how reasonable it is to do this. Investing in Bitcoin is a good idea and has a lot of potential for profit, but investing in Bitcoin by selling houses, cars, land and jewelry or taking loans is not a very smart thing to do. I don't support them much but if you have extra money to invest then definitely you can invest in Bitcoin and hold it for long time.  But since you have already sold jewelery or decided to sell and invest in Bitcoin.  So use a good non-custdial wallet or a hardware to save your bitcoins. good luck

[worle1bm]

I assume you also understand the risks when investing in bitcoin as you have risked your wife jewelry on this basis.I am happy that you have decided to invest in btc but sometimes we go over as gold can help you in hard times but on the other hand btc might not land on your expectations of 100k by next year so it should not be a problem for you.We should always invest what we can afford to loose and in this case I don't think you have made investment based on this fact.So be prepared for loss aslo but your patience will definitely pay off in long run.

[leonair]

The story is very beautiful.  But I doubt that all the jewelery in your picture is made by gold and And they value will be at $3k. You should not have posted a picture of your wife jewelry. It would have been a more believable story if you had provided a block explorer link to the bitcoin holding wallet as proof of your purchased bitcoins   I want to believe your story and give a Smerit but again doubt that the story you made up is completely true.  Because thousands of such stories are constantly being posted here

[krishnaverma]

You should better find own sources of income so that you do not have to sell your wife jewelry. In some countries, people consider jewelry as means of survival in bad times. Also, if you sell the jewelry , what will your wife wear in parties. She will feel left out among friends because of this. The invested amount is expected to give you good returns but there is no certainty about the amount of time required. If you develop new sources of income, you will have additional savings at the end of the month which you can invest in crypto and enjoy profits.

[kryptqnick]

Gold is more stable in price that Bitcoin, I'll give the op that. And I don't really get the whole buying jewelry thing either because I don't appreciate jewelry and feel like it's something that catches unwanted attention if it's expensive or judgemental looks if it isn't. That being said, there are a few things you should note. I'm glad you asked your wife about the jewelry, but if she didn't like the idea before, maybe she still doesn't like it but agreed to make you happier or something. So maybe at least don't sell all of it. More importantly, I don't think you can realistically get 10x returns on Bitcoin in a year or two. It might happen, sure, but there's no guarantee and no reason it would go that high. The multiplier seems to be decreasing over time: Bitcoin went from $1k to $20k between 2013 and 2017, but only from $20k to $67.7k between 2017 and 2021. So maybe it won't be 10x or will get to 10x over a really long period of time. Just keep that in mind. The bigger the marketcap gets, the harder it is for the price to increase very significantly because that increase now means hundreds of billions of dollars in value.

[pawanjain]

Investing in bitcoin might be really tempting sometimes but we must really be wise enough what we are doing in order to buy bitcoin.
They say to invest what you can afford to lose for a reason.
If it is at a cost of your wife's jwellery then you must be wise enough you should do it or not and not ask others what you should do about it.
If you still proceed with selling the jwellery then I would advice to sell only half of it.
Diversify the investment so that half of it is in bitcoin and half of it is in gold.

[Bananington]

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

In addition to your wife's Jewelry, you can decide to declutter your home and sell off properties and belongings that you do not so much require anymore to raise some little money more in addition to what you have gotten from the jewelry sales. Your wife  may feel bad if only her belongings are sold, so it will be good if you go through your belonging too and sell off something so it becomes that you both have made sacrifices for the future by letting go things that you love but no longer need. If you do this, you will be surprised how much more you will be able to raise.