171–180 of 578 posts
The economist's answer would be to offer to buy the cube for $1.1M. Tell them the extra $100k will fund building another cube plus expenses with spare cash left over. If you're right, pass GO and collect the payout.
Making 1.1 million into about 550 k? It is less by nearly 50 percent, not more.
[1] https://www.youtube.com/watch?v=BhFNiPsVRoM
[2] https://fiji.sc/
Do we truly know if the Middle is all dollar bills and not filler?
This felt like the most obvious explanation to me as well. Maybe the artist's vision for it was a solid cube of cash, but it ended up needing a structure inside to support the thing. So many reasons this might be exactly $1,000,000 but not sum up on the outside. That said, this is also something I would have spent way too much time overthinking, so I thoroughly enjoyed reading the blog post.
Though having an app handy might make sense sometimes.
Earlier quoted context omitted.
Because we still care about assigning sensible priors to whatever we think is the truth? You can use this to "analogize" how the feds handle money, but if they were actually careful with the money but a bit misleading on the space $1m would take, that's a different and less egregious error. Ignoring the space of potential possible explanations to make your analogy stronger is just confirmation bias with additional st…
I'm half serious. Yeah I see the point. But more important to me is the analogy.
Though I do sometimes feel the pervasive casual cynicism we have everywhere today sort of creates a self-reinforcing cycle as it preemptively erodes trust.
The economist's answer would be to offer to buy the cube for $1.1M. Tell them the extra $100k will fund building another cube plus expenses with spare cash left over. If you're right, pass GO and collect the payout.
Earlier quoted context omitted.
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The Fed keeps rigorous track of every bill. They have a database with the serial number of every live bill. The money isn't valid until the serial is put into the database, and any time a bank gets a bill, they have to verify the serial number is in the database. And if it's not they have to turn it in for a replacement that is.
This good article contains a photograph of a million quid nailed to a wall. Since burnt by scoundrels http://www.lysator.liu.se/~johol/KLF/Money.html
...well?
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> The folks responsible for collecting and destroying used bills tend to be exacting in their auditing for obvious reasons. So when the exhibit designers got $1M in used bills approved and released, that's exactly how much they got. But who says that they didn't actually request $1.5M in used bills after doing the math of what it would take to make a cube. Or fill it up with $1M in used bills, and come back and make…
Because going >50% over-budget isn't a good way to further anyone's career in exhibit design, engineering and construction. I have a friend who works at a firm which specializes in engineering and constructing exhibits for museums and all kinds of public spaces. There's a whole industry ecosystem around doing this. They get brought in on contracts by design firms which specialize in permanent installation exhibits wh…
Earlier quoted context omitted.
The Fed keeps rigorous track of every bill. They have a database with the serial number of every live bill. The money isn't valid until the serial is put into the database, and any time a bank gets a bill, they have to verify the serial number is in the database. And if it's not they have to turn it in for a replacement that is.
Is there anywhere I can find out more about this?