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Consider two remote players, connected by a channel, that don't trust each other. The problem of them agreeing on a random bit by exchanging messages over this channel, without relying on any trusted third party, is called the coin flipping problem in cryptography. [1]
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A Roman coin with the head of Pompey the Great on the obverse and a ship on the reverse. Coin flipping was known to the Romans as navia aut caput ("ship or head"), as some coins had a ship on one side and the head of the emperor on the other. [1]
Flipism, sometimes spelled "flippism", is a personal philosophy under which decisions are made by flipping a coin.It originally appeared in the Donald Duck Disney comic "Flip Decision" [1] [2] by Carl Barks, published in 1953.
For = the constants are related to the golden ratio, , and Fibonacci numbers; the constants are = = / and + /.The exact probability p(n,2) can be calculated either by using Fibonacci numbers, p(n,2) = + or by solving a direct recurrence relation leading to the same result.
In statistics, the question of checking whether a coin is fair is one whose importance lies, firstly, in providing a simple problem on which to illustrate basic ideas of statistical inference and, secondly, in providing a simple problem that can be used to compare various competing methods of statistical inference, including decision theory.