Will You Toss?

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Avatar for Methion
3 years ago

Hey my read family. How are you guys? Doing great I hope? I was actually supposed to write this yesterday, but it was such a hectic and stressful day. @Gaiom , @Mhizutty, @Kushyzee and I left for school at about 7:30am and came back 7:30pm, all stressed, hungry and quite wasted. In the midst of all that stress though, I still made sure I interacted with almost every single article on my notification bar.

Interestingly, all of these stress was as a result of a fish hybridization practical my group had to do. We did manage to do an excuse of an activity in it's place, but we won't know how much success we have until at least another 24hrs, although we could know that easily this morning if it turns out to be a complete disaster, in which case there will be no single hatchling.

Getting back to the substance of this article, we were in school two days ago when @Gaiom asked me a question; the question goes thus;

You are given two options. One is for you to be given an assured tax-free $2000, the second one is that you're given a chance to toss a coin, if you get head, you get an assured tax free $2 million, but if you get tail, you get nothing at all. His question was, will you toss?

I didn't even have to think about it for long to come to a conclusion knowing fully well I live in a country where $2000 wouldn't wouldn't give you a life-changing experience. Don't get me wrong, $2000 is a whole lot of money in itself, but there are reasons why it may never come tops despite assured over the chance to gamble for $2 million.

When converted to my country's currency ( the Naira ), it will amount to around #1,000,000. That might seem like a lot of money and it would be if you were still in the year 2015, but sadly we can't travel back in time yet. When put against the daily/monthly financial obligations of the average Nigerian, it start looking like it's not a lot, because due to the constantly increasing inflation, cost of living and those other econometrics, this amount of money will do no more than serve the concurrent expenditure of the average Nigerian for anytime between a month - three months.

It is worthy of note, that the average Nigerian always find a way to survive and meet these concurrent financial obligations, hence the impact of such a decision to not toss snd take the $2000 will most likely be temporal. With this amount, if you were an employee, you would remain an employee ( except you are really really wise and intentional about your life)

On the other hand, if I do toss the coin, I might get nothing or I get $2 million , which when converted will afford me #1,000,000,000. With this amount of money, an average Nigerian will be set for life, even if he/she was a good for nothing lazy person. With such financial resources at one's disposal, a lot of capital expenditure in the form of acquisitions, establishment of businesses, investing in one form or the other. These huge amount of financial resource will definitely move you from an employee to an employer and investor.

All of this went into my decision making factory to produce what was my answer. You want to guess; nothing to guess here as the article quite seem to outline what I will probably favour, and you're right, I chose to toss the coin.

For me, it was quite a zero-sum game, after all they did say "go big or go home"😂😂. Having chosen to toss, that led me to start thinking, if logic were to prevail, the reasonable thing to do would be to take the 100%, no condition attached $2000, but somehow I chose to gamble for the $2,000,000 knowing fully well, there's a 50% chance I go home with nothing at all. The question is why would I do that, I mean gamble instead of assured?

I think we all know the answer, but I will leave that for part two of this article. Now, I ask you my lovely readers, commenters, up voters, sponsors and subscribers, will you toss?

Special recognition and thanls to my new sponsor @MJAYTECH

Thank you so much for believing in me.

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Avatar for Methion
3 years ago

Comments

for me I like having more but when I want to have more I lose the one I have gotten then left with nothing, will choose the $2000 cos I have learnt my lessons

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3 years ago

I see

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3 years ago

Wow, this is hard.

I know that in some instances playing it safe it's not the best option, people have to take chances in life, right? And for some people, having nothing to lose, there wouldn't be a problem with taking the chance to win or lose 2million.

But I probably would choose the assured 2k, and then I would find a way to make them grow, with the hope to get the 2 million.

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3 years ago

Wow!! That's one decision to take

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3 years ago

Without even thinking, I will take the $2000, why? A bird in hand is worth more than 2 in the bush 🤧 I don't have a gambler's spirit

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3 years ago

E sure for you oo

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3 years ago

Will take the toss. I'd take the 50/50 chance of being a billionaire. Than being a millionaire in this case.

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3 years ago

Of course...

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3 years ago

I would toss the coin, no questions at all.

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3 years ago

😂😂😂😂 same as me

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3 years ago

That's quite a tough question for me. Maybe my impulsiveness will lead me to toss the coin even if it will only give me 50% of chance. However, the logical and practical me will say the opposite and would choose the sure one.

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3 years ago

If you let yourself be practical, one would always pick the sure one. Problem is in that instance, how many people will be logical?

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3 years ago

It is kinda hard to have an answer when the question involves money haha! We should all be careful in our decisions in life. All the best.

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3 years ago

Very true

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3 years ago