Re: When gambling has better odds than holding your local currency
What the title says is simply false. No matter how high inflation is, risking losing everything is not going to have very good odds in comparison. It also fails to take into account that you can invest that money in assets that beat inflation instead of risking losing everything. It is based on a false dichotomy.
I think it is obvious that he meant some kind of gambling where the player is successful (it does not matter whether it is real or not). I hope you do not laugh at those people who do business in conditions of hyperinflation? After all, despite the fact that most of their capital is in assets (machines or store space, etc. I do not know), but they also try to do business against hyperinflation, which is essentially an unprofitable strategy. At some point, you still have to decide how to get rid of money that is becoming cheaper in order to somehow preserve the value you have earned.
Ser, that still DOESN'T make gambling a inflation hedge that plebs or ANYONE should consider. It's very laughable that you're defending that.
If your country's currency in a state of hyperinflation that would mean that an individual should immediately buy what he needs before the currency loses value again because the prices of items could surge again before you could spend your money.
I also think it's laughable. I could understand it if we were talking about someone who is a successful sports bettor or poker player, but the OP talks about “gambling” without distinguishing between the two. Plus, it would have to be in crypto currency because if inflation is very high and you bet in your fiat currency, you probably won't beat it or only by a little. But if you're going to bet in crypto (bitcoin or some stablecoins), you'll have less risk if you just buy and don't bet.
But what do you actually mean by "gambling" in this instance? It's laughable. Instead of gambling with your hyperinflated currency, merely buy food and your family's needs while you can before it hyperinflates again.
But if you're making a debate that gambling is your way to fight inflation - LAUGHABLE. Your only hedge is to invest/save the money in store of value assets like Bitcoin or Gold. Gambling the money in a casino game will not give you hedge against inflation.
But if you're making a debate that gambling is your way to fight inflation - LAUGHABLE. Your only hedge is to invest/save the money in store of value assets like Bitcoin or Gold. Gambling the money in a casino game will not give you hedge against inflation.
I think it is obvious that he meant some kind of gambling where the player is successful (it does not matter whether it is real or not). I hope you do not laugh at those people who do business in conditions of hyperinflation? After all, despite the fact that most of their capital is in assets (machines or store space, etc. I do not know), but they also try to do business against hyperinflation, which is essentially an unprofitable strategy. At some point, you still have to decide how to get rid of money that is becoming cheaper in order to somehow preserve the value you have earned.
Ser, that still DOESN'T make gambling a inflation hedge that plebs or ANYONE should consider. It's very laughable that you're defending that.
If your country's currency in a state of hyperinflation that would mean that an individual should immediately buy what he needs before the currency loses value again because the prices of items could surge again before you could spend your money.
I also think it's laughable. I could understand it if we were talking about someone who is a successful sports bettor or poker player, but the OP talks about “gambling” without distinguishing between the two. Plus, it would have to be in crypto currency because if inflation is very high and you bet in your fiat currency, you probably won't beat it or only by a little. But if you're going to bet in crypto (bitcoin or some stablecoins), you'll have less risk if you just buy and don't bet.