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The issue is that even if I win that bet, they’re paying me my winnings in USD, which is backed by the full faith and credit of the US Government, which has bee
by selectodude 10mo ago
The issue is that even if I win that bet, they’re paying me my winnings in USD, which is backed by the full faith and credit of the US Government, which has been irreparably destroyed.
If I can buy, say, low probability insurance that that will give me a squad of mercenaries and a jet to a bunker somewhere safe, I’d be far more apt to put my money where my mouth is.
It’s not a bad bet. It’s just a dumb bet. The payout doesn’t match the risk.
- belorn 10mo agoHow big would the risk be in your view that you would loose the bet? In any risk-benefit situation, the first step is to define the probability of the risk.