Is buying 1 million Iraqi dinar a wise move

BillJones

CKhalvashi wrote: »

What you want is a currency that history shows has appreciated in relation to the currency you use most.

Why? That implies that there is hyseresis in FX rates, and that does not seem to be the case.

It also requires that the hysteresis, were it to exist, is not in the form of mean reversion.

Voyager2002

Jonbvn wrote: »

You do realise you can get 500k VND notes? So shouldn't take you too long.;)

Having lived in VN previously, you have to talk in billions to be taken seriously!

Ah, but that's cheating. The investment will only pay off if he gets it all in singles...

vectistim

I have somewhere a 1,000,000,000 Mark note from the 30s

kidmugsy

it's a grand idea as long as you pay in bitcoins.

sabretoothtigger

Jonbvn wrote: »

You do realise you can get 500k VND notes? So shouldn't take you too long.;)

Having lived in VN previously, you have to talk in billions to be taken seriously!

I believe they use gold bars to buy houses as it does save some expensive trying to keep up.
Simple answer buy gold and it'll work in both countries, same reason UK still mints the old Victorian sovereigns is they are more widely accepted then sterling notes especially in remote areas

dryhat

....... and people think I'm mad for holding bitcoins.

brendon

I don't know much about this, but I thought most Iraqis prefer to use the US dollar rather than the dinar. There's not much value in a currency if nobody is using it -- whether it is 'official' or not.

grey_gym_sock

dryhat wrote: »

....... and people think I'm mad for holding bitcoins.

no, that's because of your funny hat

sabretoothtigger

Nobody accepts taxes in bitcoin. You are a greater speculator if taking that route then buying Iraqi currency. The main question are you some kind of contractor out there, because if you actually have bills payable in Dinar then its fine.
Maybe you just know someone who does, last I heard there nobody at all who has to pay a bill in bitcoin because they always accept dollars.

Until they stop charging for oil in dollars, thats the main alternative to Sterling for UK people. I dont think Iraq demands only their national currency, that'd be a big plus for Dinar (but they'd receive less value in each transaction I believe)

atush

A fool and his money are soon parted