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?
Though as a gambler, you stand the chance of winning huge sum in jackpot when you are lucky enough while gambling, but that on the contrary doesn't make it any better than an inflated currency whose value probably could have fallen just a few percentage. Unlike gambling that you either win or lose, and has no second chance of your fallen money going back to it's original value. Hence, I won't say that holding your money in fiat is actually good, but keeping in Bitcoin is actually the best, while you gamble with the little you can always