Invest in Bitcoin by selling wife's jewelry

[justdimin]

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

Well, yes if you believe it is more wise and profitable to invest in Bitcoin than gold jewelries. However, don't forget the risk associated with it. The reason why it is best to not be too hopeful so it won't affect us deeply just incase what we expected didn't happened.

I do not think that it matters if bitcoin is better than jewelry or not, the only question here is that if your wife would kill you or not Any married guy would know that if you do something like this, you are taking an insane risk and if things do not look good for you quickly, then it is going to end up being something horrible.

I know a friend who did it, sold all his wife's jewels and bought bitcoin, and luckily he turned it into hundreds of thousands of dollars and got away with it, but even while it was going up, his wife was mad at him for not cashing out already, he had to take on the barrage of attacks to stay and make that kind of profit. It is really not worth the risk if you ask me.

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[Wiwo]

But come to think of it, the ops didn't mention that this is the only jewellery his wife had, and also how often she has worn them, because looking at it from an economic point of view, it all depends on the profits yielding.

-In my part of the world, gold jewellery is seen as an investment,  and at each time the price of gold keeps increasing as also with bitcoin, so at some point, it may make sense if the ops wife can do away with that investment for a long time. Let's say for a period of 5 years, by that time the investment could have matured.

[NeilLostBitCoin]

So what if the bitcoin price is higher than gold? We don't know for sure if bitcoin will reach 100k after halving. Do you think your relationship will last till halving after selling her jewelry? Do you think your wife can wait longer if the bitcoin price does not match your plan? Based on your story, your wife is hesitant at first. What if the bitcoin price goes -50%? Do you think your relationship will stay healthy? There are too many risks associated with your plan, including your relationship. Do you think it's worth taking that risk?

[GiftedMAN]

I wouldn't mind if you sold your house to invest in bitcoin since you are in a platform of bitcoin but it's sounds crazy going through your write-up about how you have lost in other investments and you still went ahead to sell your wife jewelry to invest in bitcoin with the hope of making a 10x profit if there is a bull run. You can't be so certain that you took a good risk but yeah your wishes may also come through but I will advise you to always invest with your own property and invest without being so sure of a quick breakthrough.

[Captain Corporate]

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 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.

[Uruhara]

Whether it makes sense or not depends on your family's economic situation and condition. if your wife's jewelery that you have sold is indeed an asset that you will not need for a long time. then investing in bitcoin can have the potential to double the value of your assets one day when the bitcoin price rises. but you also have to know and have to be prepared if the bitcoin you buy turns out to experience a sharp decline. so that the value of your investment assets in bitcoin will decrease.

 Saving in gold is indeed safer. but do not have the potential to experience high increases within the next 1-2 years. But also will not experience a sharp decline. price fluctuations are not too high. different from bitcoin which is high risk but also offers the same high potential. so it makes sense or not depending on whether you are ready or not with the decision you have made in putting your assets into bitcoin with all the risks that you already know.

[Tony116]

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?

Personally, I would never risk my source of investment just to invest into a risky and volatile investment. I don’t want to compromise the first to gain from the other. Although I must admit that bitcoin is better than gold, but if you have the high desire to invest in it, then save for it to make it happen by not compromising your wife’s investment. Because even if she agrees to your decision, she would still regret the idea of selling her jewelries once your bitcoin investment did not succeed or become profitable in the end.

I also wouldn't be able to agree with the OP's decision, not only is it too risky to sell a stable asset to invest in a risky asset, but this is his wife's jewelry. For a woman, jewelry is seen as a precious thing that she will never want to lose. Not to mention that even though OP explained it to her, I'm sure she still didn't understand and fell into a state of fear. If it were me, I wouldn't do that to my wife.

We have many ways to invest in bitcoin, in addition to saving, we can look for a part time job to increase our income. I think the OP was in a hurry to invest because he was afraid of missing out on the opportunity to buy bitcoin at such a low price today.

[Oceat]

 It's not a smart idea and it seems like OP is kind of pushing something to the limit while risking his future and wife at the same time. It feels like he's gambling here but I hope it turns out fine at the end since it's not really a great idea risking your wife's assets. I hope you know or have read of what happens to those people who risk their savings, selling their house, and or taking loans just to invest in Bitcoin but in the end they barely can keep up to pay the interest.

Don't be so greedy because nobody knows what will be the price of Bitcoin after the halving.

[Pandu Geddon]

I wouldn't mind if you sold your house to invest in bitcoin since you are in a platform of bitcoin but it's sounds crazy going through your write-up about how you have lost in other investments and you still went ahead to sell your wife jewelry to invest in bitcoin with the hope of making a 10x profit if there is a bull run. You can't be so certain that you took a good risk but yeah your wishes may also come through but I will advise you to always invest with your own property and invest without being so sure of a quick breakthrough.

in the past bull run situations we also get some news in the media regarding similar things. someone's success in investing in Bitcoin. selling properties, selling other assets to buy Bitcoins when the market is in a dump trend. and they hit big when the bull pump came right through the ATH. everyone wants to try their luck. because of the tremendous trust in Bitcoin, and if that doesn't hurt their finances. I hope it will be ok.

[mvdheuvel1983]

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?

Bitcoin is valuable and so is gold. The question I want to ask you is 1) Is that all the gold your wife has that you want to sell?
2) Are you under any pressure? Because, you mentioned that, you are forced to sell it.

If that is all of gold the wife her I wouldn't advise that you send it all off to buy Bitcoin. Remember you need to diversify your portfolio because bitcoin is a very volatile asset and you run the risk of losing it all if you invest all of your money into it. Also keep in mind that gold is as valuable as Bitcoin.My candid counsel is for you not to act under pressure. You could try the DCA method first.

[Rikafip]

As a matter of fact, most celebrities that you see buying and wearing very expensive jewelries, wristwatches etc. consider the jewelries as investments that they can always sell in the future should they need money. That is why they never really see buying original expensive jewelry as a waste of money.

While luxury watches can be a solid investment choice, its not the case with luxury jewelry and in 99.99% of the cases you will end up losing the money. "Problem" with luxury jewelry is that big part of the price is brand itself so when you try to resell it, you won't get even close to original value. Let me give you an example; recently while watching some series, my wife saw one of the actresses wearing a necklace that she liked very much. She googled it ofc and it turns out it costs 15k euro. Out of curiosity she checked a little bit more to see if she can find someone selling used one and she managed to find it for 7k. And that was some store selling it, meaning person who sold it to them got even less.

Selling your wife's Jewelry to invest in bitcoin is a good move before the jewelries are lost to theft.

That's a very bad argument for sale since you can lose bitcoin as well. Considering the fact that OP lost money in both Luna and FTX, I have serious doubts that he is capable of securing bitcoin properly.

[Reid]

I won't do this. Not in my life. I'd pawn my wife's jewelries just for emergencies, but I won't sell them. I'd get it back in a month or two to avoid quarrels. First, it's not mine. What hers is hers and what is mine is hers too. It never go the other way around. That's my belief to have a happy wife.

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. Don't get me wrong, I believe in Bitcoin, but it doesn't mean I would go that far. Because once it goes south you will hear a lot of things from your wife. Worse, you are the reason for ruining your marriage.
Please don't do it. I hope it's not late.

[macson]

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?

hey man, it seems your wife doesn't have much interest in selling the jewelry for various reasons and women really like jewelry.  if you have sold the gold and then bought bitcoin, then you have to be open with it, you better make your wife's personal bitcoin wallet so that she won't be so hurt.  good luck with your investment man.

[Bananington]

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.

[OgNasty]

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.

[indah rezqi]

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.

[Frankolala]

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.

[famososMuertos]

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.

I think you are looking for "speech" when assuming selling gold to buy bitcoin, cheap and hackneyed example as a simile in the reference.

All of the above adds up to decision-making, so you don't have to put photos of anything, just by mentioning the word invest or buy, two different things in the proper sense of trade jargon, but let's not get complicated , bitcoin in its acquisition has to be easy.

Understand me, this is an easy decision, don't make it complicated, this is what you should know, at least if you are the head of the family? no, it doesn't matter, that is what I would say to anyone in your position and with the evidence that you have been willing to bring to support the simple idea of buying bitcoin, anyway...

... if you spend money to  foods for your family to eat for a certain time, let's use that simple example, you should know how many days your family could eat, and you should know that there are other expenses, that's right, so if you're on a fixed income, you'll have to be very careful not to go overboard buy food.

And it is the matter here, how do you teach to buy-invest in bitcoin when they do not even have the slightest idea of how to manage their assets and liabilities that they currently have.

Do the same with bitcoin, and from one married man to another, leave your wife's jewels in peace with the intangible value that they surely have for her, on the other hand, on the subject of money to buy-invest in bitcoin, do not use third parties generate their own ability to acquire bitcoin.

That is to say, e.g. there is a regular from my local board has stated that he has never bought bitcoin, he has all acquired them as a result of some type of work carried out, although he job is the programmer and that environment lends itself to that type of income and it is worth adding that he knows bitcoin since 2014, so surely with patience and good common sense he manages to accumulate bitcoin, without suffering or thinking at 10x urgency.

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

[coolcoinz]

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 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
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.

[serveria.com]

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 

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.