Why nothing can ever be free

Why nothing is ever free

Nothing can ever be free – gratis. It may seem like a strange statement, but with help from a Greek geek and a Belgian boffin, we can try and explain why.

Categorised as Deception

The strangest lotteries you’ve never heard of

World's Strangest Lotteries

Have you heard about the US Conscription lottery that randomly selected who went to war or the Taiwanese Receipt lottery trying to improve its tax take? There’s even a new breed of lotteries trying to form habit loops to nudge beneficial behaviours and lotteries using crypto to rework 19th savings schemes. Welcome to the world’s strangest lotteries.

What is crypto unit bias?

Meme You Don't Have To Buy A Whole Bitcoin

Unit bias within crypto conflates the price of tokens with their value. A low nominal price is considered cheap and attractive simply because you are able to buy more units of them. This leads to poor decision making.

What is survivorship bias?

Survivorship bias - focusing on the outcome not the process.

Survivorship bias explains why big Lottery wins are always accompanied by an image of the ecstatic winners popping champagne and gripping a giant oversized cheque. The salient image encourages us to focus on the outcome – the smiling winner- and ignore the process – millions of losing tickets.  Understanding survivorship can help you make better decisions, and there’s no better place to start learning than the Mountain of Hell Downhill Bike Race.