I'd hire Space X to put men on Mars and the moons of Jupiter and Saturn! :w00t:
http://www.bbc.co.uk/news/world-us-canada-23352230
Quote17 July 2013 Last updated at 21:37 GMT
PayPal 'credits' US man $92 quadrillion in error
eBay/PayPal offices in San Jose, California 19 January 2011
Online payments broker PayPal has admitted it erroneously credited a man with $92 quadrillion (£60 quadrillion).
Chris Reynolds, 56, of Pennsylvania, found the amount when he opened his monthly statement.
But the error was quickly recognised and his account had returned to zero by the time he had logged in.
"This was obviously an error and we appreciate that Mr Reynolds understands this was the case," PayPal said in a statement to the BBC.
The online money-transfer firm said it would offer to make a donation to a charity of Mr Reynolds' choice.
The $92,233,720,368,547,800 statement had been "quite a big surprise", Mr Reynolds told the Philadelphia Daily News, which first reported the story.
I would put much of it into medical research. And pay off the national debt. And buy myself lots of mistresses. And property. And toys. And leave my 50 children a quadrillion dollars each.
That's like more money then there is in the entire world. I'd probably do crazy things like the buy the world's supply of Rhodium and drop into Challenger's Deep or hire an army of millions of South American clown-soldiers and wage war on Japan. I suppose I could spare some money to put Tim on Mars. Course he'd have to hitch hike his way back.
Quote from: Razgovory on July 18, 2013, 01:10:47 AM
That's like more money then there is in the entire world. I'd probably do crazy things like the buy the world's supply of Rhodium and drop into Challenger's Deep or hire an army of millions of South American clown-soldiers and wage war on Japan. I suppose I could spare some money to put Tim on Mars. Course he'd have to hitch hike his way back.
Why? :unsure:
4 chicks at one time.
Quote from: jimmy olsen on July 18, 2013, 12:52:07 AM
The online money-transfer firm said it would offer to make a donation to a charity of Mr Reynolds' choice.
Yeah. The Mr. Reynolds Foundation.
Pay a few bills.
Literal mountains of hookers and blow.
Quote from: Ed Anger on July 18, 2013, 06:40:20 AM
4 chicks at one time.
Even if each chick was twice as expensive as the last you should be able to afford 37. Think big.
Quote from: Ed Anger on July 18, 2013, 06:40:20 AM
4 chicks at one time.
They could double as your litter bearers.
You people make me sick. I would've done an honest thing and returned the money for a 10% finder's fee.
Quote from: Razgovory on July 18, 2013, 01:10:47 AM
Course he'd have to hitch hike his way back.
Tim: Don't ask Ted Kennedy for a ride. :(
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?
Your bank would go out of business and implode as soon as you tried to withdraw it. Poof. Money gone.
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?
Well I suppose for starters id depends on what you do with it. Holding it in a bank vault would make no difference whatsoever.
But google is telling me the total world money supply is 40-some trillion dollars. 92 quadrillion is therefore 2000x more money than the rest of the world. If you start to run out and spend that money you're going to get massive inflation, but even then you'd have enough money to buy, well, everything (or at least everything that is available for sale).
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?
None. Paypal would declare bankruptcy.
Quote from: Ideologue on July 18, 2013, 01:59:21 PM
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?
None. Paypal would declare bankruptcy.
Assumption fail
Am I supposed to assume that PayPal has the same powers as the U.S. Treasury?
Quote from: Maximus on July 18, 2013, 02:01:20 PM
Quote from: Ideologue on July 18, 2013, 01:59:21 PM
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?
None. Paypal would declare bankruptcy.
Assumption fail
Yes, but it becomes impossible to imagine what $42 quadrillion would even look like. It vastly exceeds the value of all printed currency in the world. No bank would have an account that large as they couldn't pay it off. You pretty much wind up having to assume that you own $42 quadrillion worth of something - but the problem is by having so much of something it instantly becomes substantially less valuable. If you had $42 quadrillion worth of gold, gold would suddenly be pennies an ounce. If you had $42 quadrillion in US bills, the US dollar would be near-worthless in international exchange.
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?
Massive depreciation of the greenback.* Gigantic inflation in the dollar zone. You would own everything.
* It's cool that, in addition to all the other ossum things about the US, we have an ossum nick name for our currency.
Actually, I expect we would pass legislation annulling the old currency.
Quote from: Barrister on July 18, 2013, 02:09:50 PM
Quote from: Maximus on July 18, 2013, 02:01:20 PM
Quote from: Ideologue on July 18, 2013, 01:59:21 PM
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?
None. Paypal would declare bankruptcy.
Assumption fail
Yes, but it becomes impossible to imagine what $42 quadrillion would even look like. It vastly exceeds the value of all printed currency in the world. No bank would have an account that large as they couldn't pay it off. You pretty much wind up having to assume that you own $42 quadrillion worth of something - but the problem is by having so much of something it instantly becomes substantially less valuable. If you had $42 quadrillion worth of gold, gold would suddenly be pennies an ounce. If you had $42 quadrillion in US bills, the US dollar would be near-worthless in international exchange.
Yes I realize all that. Let's say I was an average person who was mainly interested in buying everything he thinks he might want and enjoying it, rather than focusing on acquisitions for the sake of acquisition. The actual amount is then irrelevant; for our purposes it is effectively infinite. The limiting factor is how quickly it gets spent.
I guess the question I was interested in is how quickly the effects spread if the influx of money is instantaneous and the entry point is a single average individual.
I think that a single average individual with infinite cash would very quickly ratchet up their buying to purchase "everything" - especially as advisors would show up very quickly to offer to tell you how to do so.
One person can only sign the paperwork so fast though. There has to be a limiting factor in how quickly the money can be spent. Of course if he gives a trillion dollars to all his friends...
Quote from: MadImmortalMan on July 18, 2013, 02:57:19 PM
One person can only sign the paperwork so fast though. There has to be a limiting factor in how quickly the money can be spent. Of course if he gives a trillion dollars to all his friends...
You can form a corporation, hire a bunch of purchasers, and give them authority to make the final decision on purchasing. You can also give them an authority to hire their own purchasers. Then it's just a matter of giving them sufficient budget, and making sure they don't embezzle it.
If only someone had made a movie about spending lots of money. :(
Quote from: DGuller on July 18, 2013, 03:14:51 PM
You can form a corporation, hire a bunch of purchasers, and give them authority to make the final decision on purchasing. You can also give them an authority to hire their own purchasers. Then it's just a matter of giving them sufficient budget, and making sure they don't embezzle it.
I knew someone was going to come up with this, which is why I said
QuoteLet's say I was an average person who was mainly interested in buying everything he thinks he might want and enjoying it, rather than focusing on acquisitions for the sake of acquisition.
But, playing the game, a thousand-bomber raid on Beijing with B-1Bs. I think I could swing that with $92qn.
Quote from: Maximus on July 18, 2013, 03:19:14 PM
Quote from: DGuller on July 18, 2013, 03:14:51 PM
You can form a corporation, hire a bunch of purchasers, and give them authority to make the final decision on purchasing. You can also give them an authority to hire their own purchasers. Then it's just a matter of giving them sufficient budget, and making sure they don't embezzle it.
I knew someone was going to come up with this, which is why I said
QuoteLet's say I was an average person who was mainly interested in buying everything he thinks he might want and enjoying it, rather than focusing on acquisitions for the sake of acquisition.
Which is why I said:
Quote from: Jacob on July 18, 2013, 02:46:17 PM
I think that a single average individual with infinite cash would very quickly ratchet up their buying to purchase "everything" - especially as advisors would show up very quickly to offer to tell you how to do so.
Max: you could buy any work of art, any vacation mansion, any luxury yacht, any private plane, anything at all, for the equivalent of a penny. Where's the line between enjoyment and acquisition?
The best plan would obviously be to spend it slowly. Maybe build yourself a Bond villain base in a volcano or something.
Quote from: MadImmortalMan on July 18, 2013, 03:32:23 PM
The best plan would obviously be to spend it slowly. Maybe build yourself a Bond villain base in a volcano or something.
Except that all of the real-life examples of people earning seemingly huge sums of money tends to show that expenses rises to meet income incredibly quickly. Think of, oh, every pro athlete ever.
Quote from: lustindarkness on July 18, 2013, 06:55:24 AM
Pay a few bills.
I think I would also buy some cake and ice cream. :blush:
Quote from: Barrister on July 18, 2013, 03:34:27 PM
Quote from: MadImmortalMan on July 18, 2013, 03:32:23 PM
The best plan would obviously be to spend it slowly. Maybe build yourself a Bond villain base in a volcano or something.
Except that all of the real-life examples of people earning seemingly huge sums of money tends to show that expenses rises to meet income incredibly quickly. Think of, oh, every pro athlete ever.
It's impossible in this case. I bet most people here would have difficulty spending a $100 billion a year, which would be a drop in the bucket.
Not if they're playing RL war games.
Well then I'd burn most of it and keep only enough to make me the second-richest guy on the planet.