Invest in Bitcoin by selling wife's jewelry

[Cookdata]

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?

Why do I have a feeling that you have done something crude that doesn't make sense? You selling the gold to buy Bitcoin is not the problem, it is a wise thing to be honest but doing for a cause because you feel Bitcoin price will go to $100k is something you shouldn't have never done. When you buy bitcoin, you are doing so because you feel it will appreciate in future and not because it will go to a particular price, what are you going to do when the price go to $95k, would you continue to hold or wait till the price hit $100k? You have to change that mindset of being a bitcoin maximalist, that is the advice I will share with you.

[akuntester1]

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?

Hi OP, I apologize in advance but I may disagree if you sell all your wife's gold jewelry.
In my opinion, jewelry for a woman has its own meaning and value and pleasure for her to own gold jewelry, besides actually being an investment for the future.
I don't know, but from your story I think you don't have fiat money to satisfy your desire to invest. Not because of an urgent and important need at this time.
I don't know, but it seems that you are subtly forcing your wife to sell your wife's jewelry and use it to invest in Bitcoin and wait until 2024.
What if your prediction is not right?
But after all it's up to you if you want to take a chance with the risks involved.
Because you and your wife must have thought about it carefully and understood the risks and your wife has agreed to you.

[freedomgo]

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.

Just be careful OP because that specific statement is not guaranteed, the prediction is just likely to happen but not really 100% where you can say that it's a guaranteed profits. There will be some instances that the bull might start running in 2025 and not directly take effect after the halving in 2024.

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

I guess it's the other way around my friend because you are the one who convinced your wife to sell her jewelries.

whether selling my wife's jewelery and investing on bitcoins makes sense? Is it reasonable to invest in gold rather than bitcoin?

Yes, it's a good idea because bitcoin is more volatile than gold and yes, much expensive than the gold especially in the future. But please, do remind your wife that these things are not guaranteed as this investment is really a gamble as we really don't know what will happen in the future. But as long as you're not hasty, you will be blessed to reap some good juicy profits.

[South Park]

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?

Just make sure that she is completely on board with what you are about to do or otherwise this could add tension to your marriage and your relationship with your wife, additionally make sure to not sell anything that has a sentimental value for her as even if the strategy that you are thinking on implementing makes sense, at the same time you are planning on selling that jewelry so most likely you are never getting it back even if you multiply your capital many times over.

[drwhobox]

Don't make your girl upset, think twice or take your time before selling them. All I know women do have emotions when it comes to their jewelry. Those jewelry are clearly not assets or investment, maybe you plane to buy her back when you cash out your bitcoins.
 

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.

How can you be so sure about the price of bitcoin that it will cross 100k$ after halving in 2024? Maybe it will not cross 30k$ then what will you do? or even if it drops lower do you have any backup plans for that?

Is it reasonable to invest in gold rather than bitcoin?

If you have fiat and lazy money to invest or any money to invest bitcoin is a more valuable investment asset than any other thing not only gold.

[aoluain]

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.

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.

You made two mistakes previously, investing in $hitcoins and leaving your coins on
an exchange.

So your next move after selling the Jewellery is buy Bitcoin and a Trezor hardware
wallet and take full control of your investment.


On selling Jewellery for Bitcoin - do it, they are only material possesions.

We know gold is very precious metal, but Bitcoin is much more expensive than gold.

Correction::::

We know Gold is very precious, but Bitcoin is more Precious than gold.

[acroman08]

you are assuming too much about what the price of bitcoin will be in 2024.

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?

in my opinion, don't do it. I won't have a problem if you sold your own jewellery to invest it in bitcoin but asking your wife to sell hers so you could invest it in bitcoin just doesn't right to me. also, her "hobby jewellery" might be her own way of investing.

[lionheart78]

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 have the same thought as you.  I believe Bitcoin will reach another all-time high after the halving.  So I think that your decision of selling your wife jewelry is somehow rational.  Rather than your wife's gold sitting idle in the safe, I agree that selling it and investing it in Bitcoin is much better. 

You can always buy jewelry but the opportunity to buy Bitcoin at a lower price is not always available.  Looking back at the year 2014 when I was just a newcomer to the industry if I bought $1000  worth of BTC that time, I would be sitting in comfort today because that $1000  would have grown 160x+.

[livingfree]

It make sense to do that if she agrees to sell it and understands the risk and volatility of bitcoin. Later, I even saw someone who sold a part of his land and put it into bitcoin.

We've got different plans and before you do something even if the jewelry is from your wife, consent is a must so that there won't be any regret and blaming afterwards.

But to give you some idea about the gains, it's more likely that it won't go 10x for the next bull run. Every bull cycle, the gain of bitcoin decreases.

[Finestream]

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 one holds guarantee that bitcoin after halving will reach a very high price, that is still very uncertain as not every halving the same thing will happen. And even if it’s price increases, we are not yet sure if the price will reach another all time high so if you do your plan of selling all your wife’s jewelry, that will bring a lot of risks. You should have been more honest to your wife and admit that bitcoin investment does not guarantee profits all the time, so she will never expect high profits on it.  I suggest invest only on the amount you can afford to lose, and I think selling another investment is not a good idea. Just invest whenever you have extra money so that if you lose, that won’t create an issue to you.

[albon]

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

What would you do if you sold your wife's jewelry and the bitcoin did not rise to $100,000? There is another possibility that it will decrease, and this is due to the volatile nature of the market. Suppose you do not have a stable business from which you can obtain legal money and invest in Bitcoin, what you can lose. In that case, I hope that you will back down from the decision to sell your wife’s jewelry because it is possible that you will not be able to rebuy it if something happens led to the deterioration of the price of bitcoin. Most investors make this mistake, which is selling their properties, real estate, cars, gold, etc., to invest in bitcoin, and this doesn't seem right and may cost them a lot. You have to invest in bitcoin wisely and not risk what you have.

[Wiwo]

No matter what your philosophy on investment or the urgency of your need for financial break out is, I must say that selling personal belongings to buy Bitcoin is not a good idea, most especially when you sell your wife'sjewelriess to buy Bitcoin and for that, I will like to ask you a few questions.
1: is your wife aware of the risk you are about to take?
2: what is your wife's understanding of the investment and which place is gold in her investment portfolio?

-As far as I know, there is no guarantee of a 10× increase in bitcoin price after halving, and there is also a possibility that the price of Bitcoin may decrease and remain like that for over a year,  what are your financial alternatives plans if things don't go your way.

[Sanitough]

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?

You don’t have to chose in the first place as both investments will be more profitable in the future. Invest on both so you can gain more profits in the next months and years. However, knowing bitcoin is highly volatile, then you should invest on it at your own risk. Selling your wife’s jewelry will only bring a lot of risks, and you might only lose them if bitcoin value do not reach your expected price. Bitcoin is a good investment, but it does not give an assurance that you won’t be experiencing losses as well.

[abel1337]

Nope! I personally don't think it is wise to sell other people property just to buy some bitcoin even if it is your wife property. Even if it's a conjugal property, Your wife still has a right to that unless your wife herself is the one who engage in selling or agreed in your terms. Please don't say that you are forced to sell because I'm sure that you have a way to generate you own income and buy some bitcoin. Remember that there are still risks even if you are certain that bitcoin will rise again, I believe that selling these kind of metals is only applicable if there is an emergency or a rush need of money. Consult your wife first, This can possibly ruin your relationship.

[panganib999]

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?

If you had to ask people for it, most of them would answer NO, including me. First off, I presume you asked your wife's permission before doing this, if so you're in big fat trouble. There's also the concept of divorce, if you knew about that. If things go south and you guys lose a significant portion of your capital investments, how would you be able to pawn your wife's important and expensive jewelry? Do you have safety nets in place for such eventualities coming around? Let me just remind you that just because the halving's coming doesn't mean it's going to pump as high as you expect it to be, I mean we can all dream but sometimes we gotta stay realistic too.

So,  TL;DR do not sell your wife's jewelry, find other ways to grab money you would use to invest in bitcoin, certainly not from your savings or what. Invest only what you can afford to lose, this one mate, is not one of it.

[Fatunad]

whether selling my wife's jewelery and investing on bitcoins makes sense?
Is it reasonable to invest in gold rather than bitcoin?

Im not saying that Gold is much better but we know that earth precious elements does have that history on having that increasing value as years passing by.It is really just that too slow or minimal when it comes to movements and something that cant depreciate over time.If you have sold out and making out those sweet words and guarantees into your wife about making profits in 2024 then prepare because thats not how it would be that simple. $100k isnt that too near to consider and plus you arent that able to make 10x with the investment that you had made considering that we are around 23-24k price which means it could potentially
give you 4x of your investment if ever it would hit 100k but just like i've been said that it wont really be that something simple.

[Kasabus]

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?

Your intention is good, but your action towards it may be wrong. I don’t suggest selling your wife’s jewelry so you can invest in bitcoin, you might lose them all along the way. And you might be blame by your wife if that happens. Bitcoin investment has its own risk, and you should not take those risks if you are not ready yet. That way, you can be free from future losses, but if you really want to invest, then save first.

[Yatsan]

Would she allow it? This is wrong if she won't, in all aspects. First of all, that is her personal belongings. Also, what if you made a wrong decision resulting to huge loss of that jewelry's money? Would you still be able to compensate? If you don't have that much money to invest then be patient and allot an amount you can invest someday. There's no need to rush and there's nothing telling you to invest right now for you to make such decisions which can yield to a problem between your partner.

you are assuming too much about what the price of bitcoin will be in 2024.

This impression is simply the cause of greed in this industry; misconception. Many people are decieved by the fact that many people gained profit from what happened on the previous halving, disregarding that this industry lacks inconsistency and there is still a tendency that same situation might not happen because of the same reason. People are trying to risk things because of such impression.It is okay to aim for profit but atleast be reasonable with your actiond before aiming for that profit.

[Bushdark]

Ths is very funny to me and I can't imagine this twice again. The question is that why would you ever think of selling your wife jewelry to buy Bitcoin. Are you that curious to the extend of selling your woman property just to buy Bitcoin that can depreciate anything and leave you in loses. It is fine that Bitcoin would finally go bullish but I can't imagine you selling what belongs to her.

This is a mess and should never be condole. Does it means that you have nothing else in your house to sell rather than selling her precious values so you can buy Bitcoin. This is not funny at and you can be arrested for this if you leave in a law abiding country. It is out of point if you ever take this odd action. Good luck Mr gold seller!

[stompix]

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

And who exactly is forcing you?

Since he already said he lost money, it's obvious the culprit here is the same as in gambling, it's called Chasing losses.
He wants to desperately recoup those losses and he thinks he can make it big, (lol at the x10 in a year), same as gamblers, raising the stake with the hope this time will definitely work. Of course, it's less risky than a bet but at the same time, it might now produce the results he hopes for. Not even mention that from the start he will get less money for that gold and he will have to pay a lot more to get it back, and...the family issues. I personally wouldn't want to run into my mother-in-law for a while after this.

Also, from another topic:

I want to know a deep thing from you, I live in a joint family with multiple members including my parents, brothers and sisters, sons and daughters, nephews and nieces. Several people in our family work in cryptocurrency. We always work on Bitcoins and cryptocurrencies with computers and mobile phones. This made my family's young children interested in our work and wanting to know about Bitcoin.
~

This is going to end badly, that is, if it's real!!

You can always buy jewelry but the opportunity to buy Bitcoin at a lower price is not always available.  Looking back at the year 2014 when I was just a newcomer to the industry if I bought $1000  worth of BTC that time, I would be sitting in comfort today because that $1000  would have grown 160x+.

And if he had bought at the end of 2017 waiting for a x10 he would be single by now!  
Oh, and furthermore, why don't you sell all your jewelry and your wife's jewelry like the OP now?