I'm pretty sure most of you know how inflation affects a country and its people, but imagine if it reaches the level of hyperinflation. Take Venezuela for example, which got hit hard by hyperinflation with over 200% yearly inflation, making it one of the countries with the highest rates globally.
Normally, we gamble just for fun, but in a place like that, gambling might actually be a way of survival. The odds of turning a small amount into something bigger could seem more appealing compared to just holding onto their money while its value keeps dropping every day.
In a way, while it goes against the usual belief that gambling isn’t an investment, in countries with hyperinflation, it might look like a potential hedge against losing purchasing power.
So I’m curious, do we have anyone here from such countries, like Venezuela or Argentina? How do you see this possibility? Would you consider gambling an escape from inflation, or does it only make the situation worse in the long run?
Hyperinflation happens very quickly, and most people aren’t aware of it until there is an obvious loss of purchasing power. Inflation is much more subtle because most people don’t realize that their purchasing power slowly decreases year after year. Their savings melt away like ice in the spring sun, but people don’t notice it, especially with currencies that have inflation just below 7-8%, like the dollar or the Swiss franc. I haven’t heard of anyone using gambling as a way to protect themselves from inflation or hyperinflation. People mostly use gold, fuel, or foreign currencies with lower inflation. Today, we have Bitcoin as a perfect money , hard money that can protect us from inflation. The best way to save is in Bitcoin because that way you are protected from inflation.