Barry_Cotter comments on Post ridiculous munchkin ideas! - Less Wrong
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FWIK, some universities allow you to get PhD in computer science by submitting PhD thesis for review and paying some amount of money (~$1200 on my university). This way, one can follow your advice and still get PhD.
Tell us more. Much more, in excruciating detail. I am reasonably sure I remember reading Eliezer write about the impossiblity of what you just described, i.e. getting a Ph.D. without necessarily having an advisor, funding or a Bachelor's degree.
Seconded.