There is a button

[BudAshes]

and if click it you get fifty thousand tax free dollars in your bank account, but you also have a randomized 1% chance of instant death each time you press the button.

Essentially if you press it 10 times you get a 500k but you would have a 10% chance of death.

How many times do you press the button?

You only get one shot at it so you can't save your presses.

 

[dullard]

Make that 0.01% chance and you are probably pretty close to the stats for working for a year (the actual number is job dependent, commute dependent, age dependent, and self-employed dependent of course).

For me, I'm an educated DINK (dual income, no kids). I have no need to gamble my life for money. I'll gamble my life for fulfillment, adventure, etc. But not for money.

 

[zinfamous]

That's not right, is it? 10 independent 1% chances of a thing does not equal a total 10% chance of that thing happening after 10 events.

For example: if you push the button 100 times, it doesn't mean that you have a 100% chance of it happening, because each event is 1% chance. It's not accumulative. Each event is independently very low probability, and has no effect on the others.

 

[dullard]

That's not right, is it? 10 independent 1% chances of a thing does not equal a total 10% chance of that thing happening after 10 events.

For example: if you push the button 100 times, it doesn't mean that you have a 100% chance of it happening, because each event is 1% chance. It's not accumulative. Each event is independently very low probability, and has no effect on the others.

The correct math is: 1 - ((1-1%)^10) = 9.562%

His rough estimate of 10% is probably close enough for an off-topic post.

 

[BudAshes]

I did say it was randomized so there is not 100% chance of death if you push the button 100 times.

 

[BoomerD]

I'd push it...push it real good...until my finger fell off.

 

[highland145]

I'd push it...push it real good...until my finger fell off.

Cause you ded already?

 

[BoomerD]

Cause you ded already?

Sure...let's go with that.

 

[snoopy7548]

That would probably motivate me to get off my ass and find a girlfriend, so I could get married. Once we're married and open a joint checking account, I would finally bust out the button and tell her, "Honey, I found this button. If you press it, we'll get $50k deposited into our bank account, tax-free! I've just been waiting for the right person to share it with, and I want you to push it until we're filthy rich."

And that's how I'll become a single, filthy-rich ATOT baller.

 

[zinfamous]

I'd push it...push it real good...until my finger fell off.

can you list me as your dependent?

 

[Amol S.]

Answer to the question is 0.

 

[Red Squirrel]

I'd probably press it twice in a row. 100k would pay off the house and give me extra money in the bank. Would not want to get more greedy than that though.

 

[BoomerD]

can you list me as your dependent?

Sure, but my will gives all my assets to "The old hookers and blow" care home...

 

[BarkingGhostar]

Why can't the money simply materialize instead of supporting some a-hole bank? If it just materialized then I'd just some dumb person to press it not knowing why. Modern solutions for modern problems.

 

[brianmanahan]

0 times

 

[BudAshes]

0 times

You wouldn't hit it once or twice just for the thrill of it? It's the ultimate gambling experience.

 

[[DHT]Osiris]

I'd charge other people $10k to press it instead.

 

[pmv]

That's not right, is it? 10 independent 1% chances of a thing does not equal a total 10% chance of that thing happening after 10 events.

For example: if you push the button 100 times, it doesn't mean that you have a 100% chance of it happening, because each event is 1% chance. It's not accumulative. Each event is independently very low probability, and has no effect on the others.

Yup, because you can only die once. If you die from the first press the next 9 presses carry no additional risk.

For each press the chance of death needs to be modified by the probability you haven't already died from the previous presses.

So 1% + 0.99x1% + 0.99x0.99x1% + 0.99x0.99x0.99x1% +... etc...

The fact that I started to actually bother to work that out in full just reinforces my feeling that I might well press the button even if there wasn't any reward on offer.

 

[pmv]

The correct math is: 1 - ((1-1%)^10) = 9.562%

His rough estimate of 10% is probably close enough for an off-topic post.

The fact that I would once have known that and now can't remember is another reason why I'd probably press the button.

 

[Hayabusa Rider]

As there is no time limit I would wait until I was certain to die in the near future and repeatedly push it until I died to provide for my loved ones.

 

[NuclearNed]

Are we talking about death combined with significant pain, or just instant poof you're gone without ever realizing what hit you? Because that makes a difference.

 

[BurnItDwn]

0 times. I hate gambling.

 

[s0me0nesmind1]

I'd probably press it twice in a row. 100k would pay off the house and give me extra money in the bank. Would not want to get more greedy than that though.

Same.

$100k is enough for me to be extra-comfy with my finances. Though I easily grab another $150k in my net worth each year, so it probably isn't worth it.

Still, I'd probably press it 2-3 times or so.

 

[BudAshes]

Are we talking about death combined with significant pain, or just instant poof you're gone without ever realizing what hit you? Because that makes a difference.

Instant vaporization.

What if it was a 1% chance a random person on earth would die instead of yourself? Would that change your answer?

 

[snoopy7548]

Instant vaporization.

What if it was a 1% chance a random person on earth would die instead of yourself? Would that change your answer?

In that case, I'd press it until my finger fell off!