Invest in Bitcoin by selling wife's jewelry

[Gladitorcomeback]

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.

[Pmalek]

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. What else WILL happen so we are prepared for it?

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.

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.   

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.

[alastantiger]

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%.

[erep]

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.

[tjtonmoy]

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.

[Uruhara]

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.

[kawetsriyanto]

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.

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!

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!

[SOKO-DEKE]

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.

[Lanatsa]

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.

[Russlenat]

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.

[blockman]

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.

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.

[Vaskiy]

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.

[harizen]

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.

[noormcs5]

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.

To be honest I will not sell the wife jewellery or the gold to buy bitcoin because gold value also increases over time and gold is a preferable secure investment. Instead of selling the gold I will prefer to convert fiat currency into bitcoin because fiat currency decreases over the time due to inflation.

[Zorigi]

I don't think we will know the price of bitcoin in the future, because bitcoin's price is unstable, and it could be that your investment will suffer a loss,
I want to ask if you explained to your wife that investing in bitcoin is risky?
if your wife already knows that investing in bitcoin is risky, there is actually no problem, well, good luck with your investment.

[Charmekkd]

this is the first time I've heard of people who will buy bitcoin with money from selling gold jewelry,

yes, it is very interesting,
and indeed if you invest the money from the sale of gold in bitcoin, of course you will have the potential to profit during the BUL RUN later, however
You also have to be prepared to suffer losses if the bitcoin price drops.

[LogitechMouse]

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.

Are you sure with this one?
What's your basis on this one?
Do you have a crystal ball to foresee the future? Or are you a grand-grand-grandchildren of Nostradamus?

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.

Well, even I will not give my jewelry to you (if I'm a girl, but I'm not).
It's a good thing that you convinced your wife to sell her jewelries to buy Bitcoin. I hope you shared also the potential risks of it. My family had some jewelries as well, but I will not do the same thing as you did. I'd rather buy Bitcoin with my own money or take a loan (that I can pay).

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?

You are forced? You're convincing your wife to sell her jewelries and you're forced now to sell all of it because you don't have money anymore?

How in the hell you think of investing first where at first place, you don't have any fiat money? You're obsessed in having much Bitcoin that you're forgetting to have fiat money. I'm not an expert, but only Bitcoin holder. Selling your wife's jewelries and invest it into Bitcoin makes sense. What doesn't is that you're selling it in force and you forced to sell it because you don't have money anymore. That doesn't make any sense.

Is it reasonable to invest in gold rather than bitcoin?

Depending on your risk appetite. I just hope that you and you're wife are still ok and you now have fiat money that both of you can spend.

[Iranus]

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.

In order to succeed in life, you have to step out of your comfort zone, you have to take risks, that is without a doubt a fact. OP can sell his wife's gold for investment as long as his wife is willing to lose the jewels as well. OP should be honest with his wife because investing in bitcoin is as uncertain as you are saying, we just hope bitcoin will hit $100k in the future, but no one says for sure it will hit $100k in 2024. If someone dares to say that, they should sell all assets including houses and cars to invest, even borrow money from banks to invest because the victory is already in their hands. Hopefully, after this topic, there will be no more topics about selling houses, or borrowing money to invest in bitcoin.

[Issa56]

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

Everyone is just doing everything just because they want to invest in bitcoin, how sure are you that bitcoin will cross over $100k before the end of 2024, have you seen what will happen after the halving because I don't think anyone can predict the price that bitcoin will go in the future. There is always a rule in Cryptocurrency which says always invest what you can afford to lose, can you and your wife afford to lose the money which you just invested in bitcoin?

Is it reasonable to invest in gold rather than bitcoin?

I think it's advisable to invest in both Bitcoin and gold if you can, you shouldn't put all your money in bitcoin, I don't think there is anything bad if you are having other assets, I won't really support you if you tell me you are investing all your money in bitcoin.

[dzonikg28]

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.

Lol, this is comedy at its best, but you phrased it wisely for sure! A calm and well-considered analysis I must say. Wonderful.

@OP why only sell the jewelry? Sell the wife as well so you save the aforementioned potential added costs and divorce costs and buy 10 wives back when your prediction comes true!

Just for the fun of it (I guess...)!

On a serious note, your plan is not as far-fetched as it sounds! Perhaps also sell a kidney for Bitcoin?