gwern comments on Raising the forecasting waterline (part 2) - Less Wrong

14 Post author: Morendil 12 October 2012 03:56PM

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Comment author: gwern 13 October 2012 12:50:24AM 3 points [-]

there is some chance that one of the currencies will cease to exist

Nitpick: I don't think this is much beyond epsilon. Even if a currency 'ceases to exist', the currency still exists in whatever physical embodiment. There is still an exchange rate from Saddam's dinars to US dollars: it's however many pieces of old paper $1 will buy you on eBay. The exchange rates for currencies that cease to exist can even go up over time (how much would a American Revolution-era shinplaster cost ya?).