Invest in Bitcoin by selling wife's jewelry

[Maxre]

I think that's Super dumb idea because I have seen that people who invest someone's people money, always end up in loss and their reputation might also go down. And that's not good idea in my opinion.
That's why people should invest those money whom they want to loose. That's why I am never doing these such things. I have my own earnings, if I loose this money than i have no such regrets.

[huu78]

some people will say you are too hasty, some people say it's a wise choice, but the thing that must be prioritized is that you think that it is the right thing for you to do, because your goal is to invest to get a return or profit.
even though you use a method that is quite different from most people.

[mv1986]

The whole thing that I still don't fully understand or might have missed reading through the thread is whether your wife fully agrees? Is she emotionally attached to the jewelry or not? Did she consent with ease and did she say that she understands the risk and is willing to take it together with you? Or is the burden all onto you and your relationship would fall apart because she would feel betrayed it if doesn't work out as you are holding for?

[bosede1]

Have it in mind to go into long-term investment for you to have the profit you desire together with your wife consent

[molsewid]

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 am not against your decision to sell jewelry for bitcoin because it is yours not mine but then we should all understand that volatility plays a larger role in this one, there's no guarantee that in this small span of time we can get this amount of profit, as always we should invest only the amount we are not afraid to lose, maybe sell some for bitcoin and save some pieces for the future since both can be a good investment as time pass by.

[Xampeuu]

it would be better if your wife understands about bitcoin first, it is feared that if you don't fully understand, then if something bad happens, it will become a problem in your family, of course your wife will be angry with you. this is a risky investment if you do not have sufficient understanding of bitcoin. on the other hand, of course, don't imagine big profits in a short time, because this is not as easy as we think. because in your family and wife become one and all risks and luck are the luck of both of you

[posi]

The whole thing that I still don't fully understand or might have missed reading through the thread is whether your wife fully agrees? Is she emotionally attached to the jewelry or not? Did she consent with ease and did she say that she understands the risk and is willing to take it together with you? Or is the burden all onto you and your relationship would fall apart because she would feel betrayed it if doesn't work out as you are holding for?

His wife agreed, but I believe from what he explained to her, she is just delusional about the x10 return she will receive in 2024. She doesn't yet understand the risks bitcoin can bring to that gold. How can someone who has never heard of bitcoin understand the risk from someone's few words?
If she understands the risks, I believe she will disagree because for women, jewelry is not only a hobby but they also think about the risks that the family will have to bear if the investment fails.

[mv1986]

The whole thing that I still don't fully understand or might have missed reading through the thread is whether your wife fully agrees? Is she emotionally attached to the jewelry or not? Did she consent with ease and did she say that she understands the risk and is willing to take it together with you? Or is the burden all onto you and your relationship would fall apart because she would feel betrayed it if doesn't work out as you are holding for?

His wife agreed, but I believe from what he explained to her, she is just delusional about the x10 return she will receive in 2024. She doesn't yet understand the risks bitcoin can bring to that gold. How can someone who has never heard of bitcoin understand the risk from someone's few words?
If she understands the risks, I believe she will disagree because for women, jewelry is not only a hobby but they also think about the risks that the family will have to bear if the investment fails.

And this is where the risky part kicks in when you ask "How can someone who has never heard of bitcoin understand the risk from someone's few words?": the person asking the women to sell her jewelry is not a "someone". It is her husband. That is why all of this is so incredibly risky and naive. She trusts her man because two things come into play. On the one hand she loves him (I assume), and on the other hand the 10x is tempting to everyone. Now if I don't understand something, but someone who says understands the technology very well and I truly love that person, is it possible that I would agree to such a move? Perhaps not in my case, but I don't want to rule out the idea that many people would agree, especially when they are in need or even dire straits. There is so much potential for this to go wrong...

[bitadventure]

I will follow this! But i dont think it is a good investment. This market is very volatile.

[Uruhara]

some people will say you are too hasty, some people say it's a wise choice, but the thing that must be prioritized is that you think that it is the right thing for you to do, because your goal is to invest to get a return or profit.
even though you use a method that is quite different from most people.

So true. and actually whether or not the actions made by the OP make sense. it depends on the situation and financial condition of himself and his family. if selling his wife's jewelry won't disrupt his family's finances then it might still be tolerable. because it could be jewelry is also rarely used. and certainly he sold it with the permission of his wife. But it's a different story if actually selling the jewelry will have a negative impact on the finances of his own family, then this action can indeed be said to be an inappropriate action.

because investing in bitcoin means we must be prepared with the risks. but in the long term then we all believe that over time the price of bitcoin will continue to grow and become more expensive at each passing bitcoin halving. and maybe the OP also thought of that.

[Slow death]

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 got it into your head that you have to make a 10X profit, that's why you fell for the luna scam, it was your greed that is blinding you, you are not investing, you started to place bets, this is a very serious problem and if you don't take 10X profit out of your head so you will lose money. bitcoin is at 22000$, 10X of that value would be talking about more than 200,000$ in 2024, that is impossible, even reaching 70,000$ will already be a very difficult task for 2024, if we are talking about 2026 I believe that it may be possible to see the price will reach more than 70,000$ if certain conditions are met, for example: reaching an agreement on the war in ukraine

therefore: do not sell your wife's jewelry thinking that the price will rise too soon, it may take many long years for the price to break its old ATH again, now if you are aware that you have the patience to wait for 2 or 3 years then it would be worth investing in bitcoin, but not putting money in altcoins, you will be wasting your wife's jewelry when you sell it to put money in altcoins

[Minor Miner]

some people will say you are too hasty, some people say it's a wise choice, but the thing that must be prioritized is that you think that it is the right thing for you to do, because your goal is to invest to get a return or profit.
even though you use a method that is quite different from most people.

So true. and actually whether or not the actions made by the OP make sense. it depends on the situation and financial condition of himself and his family. if selling his wife's jewelry won't disrupt his family's finances then it might still be tolerable. because it could be jewelry is also rarely used. and certainly he sold it with the permission of his wife. But it's a different story if actually selling the jewelry will have a negative impact on the finances of his own family, then this action can indeed be said to be an inappropriate action.

because investing in bitcoin means we must be prepared with the risks. but in the long term then we all believe that over time the price of bitcoin will continue to grow and become more expensive at each passing bitcoin halving. and maybe the OP also thought of that.

If you follow his other comments, you can see him saying that he lost a lot of money investing in Luna and FTX, and now he doesn't have enough money to invest. It means he is selling assets for investment because he believes bitcoin will give him 10x return by 2024. It can be seen that he is having financial difficulties, and this action is not advisable. We all expect bitcoin to increase and hit new ATHs, but no one can be sure, and no one knows when that will happen. So selling assets to invest in bitcoin is not a good idea.

[Farma]

If you follow his other comments, you can see him saying that he lost a lot of money investing in Luna and FTX, and now he doesn't have enough money to invest. It means he is selling assets for investment because he believes bitcoin will give him 10x return by 2024. It can be seen that he is having financial difficulties, and this action is not advisable. We all expect bitcoin to increase and hit new ATHs, but no one can be sure, and no one knows when that will happen. So selling assets to invest in bitcoin is not a good idea.

too bad when he lost out on investing in Luna and FTX, then sold his wife's jewelry and bought bitcoin after that. what's bad isn't selling his jewelry or buying his bitcoins, but he's promised a 10x increase, and I think that's going to be very hard to happen, even when the halving happens. In addition, the risk is too great, especially if the jewelry is very important to his wife. there is no guarantee that the bitcoin price will go up that high even if we hope it will.
I'm just assuming that his wife doesn't really understand the risks involved in investing in bitcoin. Well, I hope that the decision is right, and something like this is not recommended to do. It's better to invest little by little than in a hurry.

[ektotanes]

I hope your wife is aware of your plan 

Of course, you can sell your wife's jewelry and invest money in Bitcoin, but no one guarantees you that you will get millions in the future. The price may simply not go up as high as you want, or it may even go down.

Risk Only What You Can Afford to Lose

[Uruhara]

So true. and actually whether or not the actions made by the OP make sense. it depends on the situation and financial condition of himself and his family. if selling his wife's jewelry won't disrupt his family's finances then it might still be tolerable. because it could be jewelry is also rarely used. and certainly he sold it with the permission of his wife. But it's a different story if actually selling the jewelry will have a negative impact on the finances of his own family, then this action can indeed be said to be an inappropriate action.

because investing in bitcoin means we must be prepared with the risks. but in the long term then we all believe that over time the price of bitcoin will continue to grow and become more expensive at each passing bitcoin halving. and maybe the OP also thought of that.

If you follow his other comments, you can see him saying that he lost a lot of money investing in Luna and FTX, and now he doesn't have enough money to invest. It means he is selling assets for investment because he believes bitcoin will give him 10x return by 2024. It can be seen that he is having financial difficulties, and this action is not advisable. We all expect bitcoin to increase and hit new ATHs, but no one can be sure, and no one knows when that will happen. So selling assets to invest in bitcoin is not a good idea.

You're right.
But the OP also spoke that it was financial conditions that forced him. I don't know what the OP meant. he said he had to. but if it's for investment then I think no one is forcing it. and he really doesn't have to force himself. Maybe besides being invested, he also has other needs that compel him. I don't know the exact situation.

 but as I said before that this does depend on the situation and financial condition of the OP's family. does the OP just don't have it for investment? while for the cost of daily life he does not seem too worried. so he and his wife dared to make this decision. that's probably what happened.

but if it turns out that he actually needs money more for his daily living expenses then of course this action is not justified. we must prioritize which ones are priority and which are not. but I'm sure the Op thought this too. and he must have read a lot about it in this forum.

[UdtaParinda1]

____SNIP____
Is it reasonable to invest in gold rather than bitcoin?

Haha doesn't make any sense i am damnn sure your wife is gonna be mad at you haha.. you Should buy her more and you are even selling the previous ones. Take an advice bro gift her more. Anyway for serious i think if you are confident on your decision then stick to it and go for it without any fear the rewards will great.

The point here is according to the long term point of view your investment is worth of it but for the short time frame I cant say anything as the developments are not clear but after the April the major regulatory developments are expected. For the Gold there are some predictions that the Gold is gonna hit $10k until the 2025 and for BTC we cant even imagine we can hope so but one thing is sure that you wont regret.

[serjent05]

I think that's Super dumb idea because I have seen that people who invest someone's people money, always end up in loss and their reputation might also go down. And that's not good idea in my opinion.
That's why people should invest those money whom they want to loose. That's why I am never doing these such things. I have my own earnings, if I loose this money than i have no such regrets.

What are you talking about?  It is the @OP's wife's jewelry and has been sold with his wife's consent to invest in Bitcoin.  How could investing in Bitcoin to be a super dumb idea?  If you speculate and calculate the possible profit once the Bitcoin uptrend, those jewelries can be bought again but the opportunity to invest in Bitcoin in a low price isn't always available.

I agree that we should only invest what we can afford to lose and I think @OP can afford if ever his investment goes southward.  But with the historical trend of BTC, the price will eventually uptrend.  It just needs to wait and have patience.

[NicNacCoin]

Have it in mind to go into long-term investment for you to have the profit you desire together with your wife consent

Since he wants to invest in Bitcoin by selling gold jewelry, he should invest in long term instead of short term investment. Short term investment will definitely bring some profit but long term investment will give more profit over time. But the more important thing is that since investing in Bitcoin you have to hold it for a few years. Moreover, according to the international market, the gold market is bullish along with Bitcoin, so you (OP) should keep this in mind if you are going to sell gold jewelry and invest in Bitcoin. If he keeps his wife's jewelery instead of selling it, then the price of jewelery will automatically increase day by day without any risk.

[dunfida]

I think that's Super dumb idea because I have seen that people who invest someone's people money, always end up in loss and their reputation might also go down. And that's not good idea in my opinion.
That's why people should invest those money whom they want to loose. That's why I am never doing these such things. I have my own earnings, if I loose this money than i have no such regrets.

What are you talking about?  It is the @OP's wife's jewelry and has been sold with his wife's consent to invest in Bitcoin.  How could investing in Bitcoin to be a super dumb idea?  If you speculate and calculate the possible profit once the Bitcoin uptrend, those jewelries can be bought again but the opportunity to invest in Bitcoin in a low price isn't always available.

I agree that we should only invest what we can afford to lose and I think @OP can afford if ever his investment goes southward.  But with the historical trend of BTC, the price will eventually uptrend.  It just needs to wait and have patience.

As long you wont really be making up some cutloss decision then even if the price would go down there's always the chance for it to recover and reaching out new numbers which would cause up for you to earn more.

When it comes to Bitcoin investment, even though it doesnt really give out guarantees but we arent that blind on not to see about its potential and it had proved out +decade already on whats its potential and
the earnings that it could give on just simply holding it for long. The important thing on here is that your wife did really approve out your suggestion and both of you did really have decided on
selling out those jewelries for Bitcoin investment so that there would be no regret if ever the price do goes south.

[romero121]

Have it in mind to go into long-term investment for you to have the profit you desire together with your wife consent

Since he wants to invest in Bitcoin by selling gold jewelry, he should invest in long term instead of short term investment. Short term investment will definitely bring some profit but long term investment will give more profit over time. But the more important thing is that since investing in Bitcoin you have to hold it for a few years. Moreover, according to the international market, the gold market is bullish along with Bitcoin, so you (OP) should keep this in mind if you are going to sell gold jewelry and invest in Bitcoin. If he keeps his wife's jewelery instead of selling it, then the price of jewelery will automatically increase day by day without any risk.

Gold is bullish, but this doesn't gonna profit same as what an user make out of bitcoin or other cryptocurrencies. Short term investment will bring good profit, but this is out of luck and the learning one has got with cryptocurrency. If not, you should have the learning to make profit through trading as there'll be large scale fluctuation regularly. The same can't be expected with gold. Gold is risk free an low profit oriented whereas cryptocurrency is high risk involved and provides with the best profit.