1. The "ultimate payoff of world domination" is fixed at $10m per coin.
2. All-or-nothing scenario: world domination or bust. (I actually disagree with that.)
3. No interest rate or NPV accounting.
1. Naive estimates tend to be off by orders of magnitude,
2. usually biased upwards.
3. Trying to counter this upward bias often leads to an estimate of ε = 0. This is also wrong.