Profile picture
, 3 tweets, 1 min read
My Authors
Read all threads
If you have an infinite supply of money, here’s how you make another infinite set of money.

Find a fair game with 50-50 odds of losing everything or doubling the money.

When you lose, double your bet. When you win, take the winnings and reset your bet to the initial stake.
This style of betting is called martingale en.wikipedia.org/wiki/Martingal…

This is why roulette wheels have extra slots (0 and 00) that you can’t bet on.
On that note, I am curious: do you know any fair 50-50 odds games in real life, or is that a mathematical ideal, an unachievable attractor for games that are offered in real life?
Missing some Tweet in this thread? You can try to force a refresh.

Enjoying this thread?

Keep Current with Paras Chopra

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @paraschopra see all

Profile picture
Paras Chopra
@paraschopra
Now that the first case of #coronavirus has been detected in Delhi, we have announced a mandatory 3 day work from home at @wingify

This is because even people who don’t show symptoms can continue infecting other people, so it’s better to err on the side of safety.
@wingify This is a big experiment for us because there are 230+ people in the company and never before have *all* worked remotely at once.

Hopefully, the org will get to learn a lot in next 3 days and if situation worsens, lessons learned will help us be ready.
Update on this: team tells me that all remote is actually going great. Meetings are on time and there are lesser distractions.

Will try to do a detailed report card soon.
Read 3 tweets
Profile picture
Paras Chopra
@paraschopra
Here’s a question: imagine a life form that has gotten a chance to advance 10,000 years beyond present stage of humans.

What obvious and massive signature will it leave in the universe that we should currently be scanning for in our hunt for intelligent life?
I’ll take a shot at it:

- Life creates structures in the universe that are possible but highly implausible
- For example, if you happen to land on a distant plant and you find a chair. what are the odds of concluding that it might have assembled by itself?
- So a measure of life could be a implausibility of finding something (relative to background of information generated by non-life physical processes)
Read 5 tweets
Profile picture
Paras Chopra
@paraschopra
Training a GPT2 model on my tweets. Do the following tweets sound like me?
Is it just me or do we all end up lying?

I mean, even a small lie can make a big impact

#paraschopra_gpt2
I find it amazing that most industries have to be either “under estimated” or “over estimated” to function successfully.

But for many people there’s a strong desire to get the "right" answer. Why shouldn’t that answer dictate how companies are built?

#paraschopra_gpt2
Read 13 tweets

Related threads

Profile picture
Yorick de Mombynes
@ydemombynes
My 116 favorite quotes from Money: Sound and Unsound, by Joseph.T. Salerno (2015)
@jtsale @mises #AustrianEconomics #SoundMoney
1. “The idea of sound #money was present from the very beginning of modern monetary theory in the works of the 16th-century Spanish #Scholastics who argued against debasement of the coinage by the king on ethical and economic grounds”
J.T.Salerno
2. “It was #Fisher and not #Keynes who was the true founder of modern macroeconomics with its aggregative reasoning and its central notion of politically managed fiat money”
J.T.Salerno
Read 118 tweets
Profile picture
Yorick de Mombynes
@ydemombynes
My 140 favorite quotes from The Ethics of Money Production (2008), by Jörg Guido Hülsmann
1. “#Money is omnipresent in modern life, yet the production of money does not seem to warrant any moral assessment”. J.G.Hülsmann
2. “To be sure, central bank representatives are lecturing the public on the importance of business #ethics; but their concerns do not seem to apply to themselves”. J.G.Hülsmann
Read 142 tweets
Profile picture
#CryptopiaFilm
@TheEndOfMoney
1/ AT ONE TIME, EVERY PIECE OF #PAPER MONEY WAS BACKED BY #GOLD. REMEMBER… FOR EVERY 20 DOLLAR BILL… THERE WAS $20 WORTH OF GOLD IN A #GOVERNMENT VAULT. NOT ANYMORE.

TODAY, GOVERNMENTS CREATE #CURRENCY BY FIRST CREATING BONDS OR TREASURY-BILLS.
2/
THESE #BONDS ARE SOLD IN THE #MARKET… GENERATING FUNDS FOR THE GOVERNMENT THAT ISSUED THEM.

LARGE #BANKS BUY U.S. BONDS TO FLIP THEM… SELLING THEM TO THE #FEDERAL RESERVE AT A PROFIT -- THIS IS THE MAGIC MONEY MACHINE. #FED
3/ YOU SEE… THE FED IS AMERICA’S #CENTRALBANK. BUT IT DOESN’T HAVE ANY MONEY, NO #CASH ON ITS BALANCE SHEETS.

WHEN A BANK BUYS A BOND AND TAKES IT TO THE FEDERAL RESERVE, THE FED SIMPLY SAYS “THANK YOU MR. BANKER, HERE’S THE PRINCIPAL AND SOME #PROFIT.”
Read 12 tweets
Profile picture
ℝ𝕖𝕕ℙ𝕚𝕝𝕝𝕖𝕕ℕ𝕒𝕥𝕚𝕧𝕖
@RedPilledNative
Who Is British Socialite Ghislaine Maxwell, Jeffrey Epstein’s

Longtime Partner?

By Ed Dickson
Q
Read 358 tweets
Profile picture
Yorick de Mombynes
@ydemombynes
Here are my favorite quotes from this amazing book. #THREAD
1. "Bitcoin can be best understood as distributed software that allows for transfer of value using a currency protected from unexpected inflation without relying on trusted third parties"
2. "While Bitcoin is a new invention of the digital age, the problems it purports to solve - namely, providing a form of money that is under the full command of its owner and likely to hold its value in the long run - are as old as human society itself"
Read 137 tweets

Trending hashtags

#ZenTeam #Hermes #GOLD #Renegade #monetarists #ItsHabbening #war #documentary #economy #FindAinesRing #inflation #Maxwell #money #crossing #tedtalk #NoDeals #TickTock #Menger #DoIt45 #WWG1WGA_WORLDWIDE #Markets #LOSING #INTERESTRATES #sidehustle #Feasible

Embed code for your website

×
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!