SatoshiDice Share Investment thoughts

I wanted to put down a couple of thoughts on the economics of the SatoshiDice investment and see if there are any flaws in my thinking.

1. Buying stock in SatoshiDice is an excellent hedge against bitcoin losing value.
a) If bitcoin loses value people should be betting the same real world money which means they are betting more bitcoin. That means dividends would go up. Currently the dividend is about 20% annual based on the current price. If there are more dividends the value of the stock should rise and your real world value investment should remain stable.

2. Buying stock in SatoshiDice means that your investment no longer sees gains if bitcoin goes up in value.
a) Again, people are betting the same real world money. If value goes up that means betting less bitcoin. Dividend percentage goes down against value and therefor the value of the stock would also go down. I don't think you lose the real world value of your investment, but you definitely lose out on gains.

Thoughts, suggestions? It is different thinking about investment with a deflationary currency.