Inspired from a conversation with an ultracrepidarian about money matters. You always find people that readily hand out advises solicited and not out there.
I had this small talk with a colleague about the stock market and in swoops another character that overhears the chatter. I didn't appreciate the new company but I noticed their effort to lean their closer ear before inviting themselves in the conversation.
"Well I would bet on X company to go up when this happens..."
I knew they didn't really trade or actively pay attention to market news so I just made a remark containing a differing opinion.
They disagreed with such conviction that it made me offer a bet on their claim. It wasn't big money but substantial enough to pay for a few lunches.
"If you're so sure about this, I'll throw in X amount if you get it right" nonverbatim since we're speaking local dialect.
There was a pause and I just looked them in the eye with a poker face. They bite and I lose, it's fine. I'll just treat it as how I lose trading stocks for the same conviction.
It's not the money. It's the message.
If you're so sure about what your saying, putting some value on the line to back up a claim speaks for itself. I didn't make the bet knowing my opinion was absolutely right. I made the bet knowing my bias could still be wrong but has a greater probability to be right. And I want to send the message to the other person that they should just stfu if they can't commit to what they say.
I chose money because it's a physical means to convey a symbolic value to whatever message was spoken. If you're so sure of some outcomes, why not get rich while doing it. It's a challenge on whether the other party really stands by their beliefs, if they are convinced of certainty, then there's no need to worry about losing the bet.
I am just glad prediction markets have several steps to hinder me from splurging money. I know I could still be wrong about my calls but I'm at least convinced enough to commit to something.
It doesn't have to be money. It can be something that stings you when you lose it while you stand with what you say. For intangible things, pride and dignity also works.
Needlessly to say, I didn't get invited to dinner with their friend group after that.
Thanks for your time.