Topic: GOLD can now be made in laboratories and what it means for bitcoins (Read 3660 times)

Here's the thing. The cost of mining an asteroid is going to be extremely expensive. So it's not like they found a way to get gold for $50 an oz. If it costs $1000 / oz to mine the gold, it'll still be profitable to mine it and sell it at current market prices, but it's not like they're going to be dumping it on the market super cheap.

alright, i'll confess i got too excited and could have picked a better topic name.

Hey, that's pretty cool!  I want to get that for my son, when he gets a bit older. 

It depends on the country. In the US kids can have guns, in Germany no one can, so US kids are more mature than German adults.

The German kids are allowed to play with chemicals, as long as those are not dangerous to politicians. Here you go.

http://www.amazon.de/Dieters-Holzspielzeug-Experimente-Galvanisieren-Verkupfern/dp/B0045QTYAW

Oh yeah, I got distracted by the horrible butchering of physical, and chemical, laws here, so I didn't even post what I wanted to.  Gold is not going to be devalued by being created, because we are not going to produce gold in significant quantities at any point in the foreseeable future.

However, gold will likely be devalued by a huge influx of supply anyway.  This supply will come from asteroids.  Google, James Cameron, and many other billionaires\100+ millionaires, have been investing in companies that are developing the technology, and making plans, to capture, and mine, asteroids.

For example, 241 Germania is an asteroid that contains enough resources (in the form of various metals, minerals, water, etc.) that it could be worth $50-100 TRILLION if fully mined.  But, that is a very large asteroid, and very far away, so probably not one anyone will mess with anytime soon.  Instead, they would likely go for small asteroids that are very near us.  Many of those have $50-100 Billion worth of platinum and gold.

 No need to worry... scientists also found bacteria which can mine bitcoins.

So much is wrong with this...

First, to address the lab made diamonds.  What you are saying was true at one time, but not today.  Early lab made diamonds were only used for industrial processes, as they were flawed and dull.  However, now it is possible to produce lab made diamonds that are absolutely flawless.  In fact, high end lab made diamonds tend to be higher quality than high end natural diamonds.  The only limit is size at the moment.  Lab made diamonds over a couple of karats are very difficult to produce, and thus cost too much to be worth it.  Still, smaller ones (still big in jewelry terms) are cheaper to buy than naturally occurring diamonds.  http://gemesis.com/

Second, you obviously do not understand what gold is in relation to a diamond. 

A diamond, along with graphite, fullerenes (nanotubes, buckyballs, nanobuds), lonsdaleite (hexagonal diamond...not the same as normal diamond...it can actually be almost 50% harder than traditional diamond), coal, and many other materials, are all allotropes of Carbon.  Carbon is an element.

Gold is also an element.  Creating a gold is not the same as creating a diamond.  It would be similar to creating carbon (though, creating gold would be much more difficult, and require much more energy).  We do not have the technology to create any element in large quantities (outside of what can be produced from nuclear fission), nor can any organism.

As far as we can tell, from physics, basically all of the gold in the universe was created by supermassive stars when they hit the last moment of their life, collapse inward on themselves, and explode in a supernova (or hypernova in some cases).  That is why gold, and most heavy elements, tend to be much more rare than lighter ones.  The creation of iron starts the chain reaction that leads to supernova, and thus iron, and anything heavier than it, is only produced for a moment.  Then the supernova shoots all of it out in every direction, dispersing it through the universe.

So, no, we don't produce gold in a lab, BUT IF WE DID, it would not be "low quality" gold.  It would just be gold.  Gold is gold is gold.  It is an element.  Of course, there are many radioactive isotopes of gold, but the most stable has a half life of something like half a year, so it quickly converts back to it's stable form.

in some countries kinder eggs (chocolate egg with a toy inside) are banned. So are you telling me while banning chocolate eggs for safety concerns, they are also allowing kids to play with car batteries and toxic waste?

(i mean this as a sarcastic joke, no rebuttle is required)

LOL! 

I need only a battery to turn gold chloride into gold, there are galvanisation kits for children...

LENR synthetic gold is a thread (see my thread in speculation) but not this

Someone is clearly desperate to keep the gold price down...

You can make stable gold isotopes as well.

Again -- it's just extremely expensive to do so.

Summary of this thread so far:

"The bacteria is extracting gold, and not creating it." -- repeat this 30 times.

Summary of the next 30 posts:

"The bacteria is extracting gold, and not creating it." -- repeat this 30 more times.

This doesn't affect gold market or gold supply. These bacteria just convert gold from one form to another. To actually CREATE gold at least a nuclear reactor is needed. I never heard of bacteria capable of carrying out nuclear reactions.

It's possible to make gold. It's just not worth it.

http://en.wikipedia.org/wiki/Nuclear_transmutation#History

LOL this cracks me up for cooling they leave the roof open

There is a big difference between lab diamonds and 'real' diamonds. Lab diamonds are so cheap because they are ugly peaces of matter. You can make jewelleries of them.

I think the lab gold will be aswell, cheap and only for industry because it isn't the real stuff.

This is just like diamonds. They can be produced by compressing carbon. But its not as sought after than the real deal. Gold price wont take a hit i dont think.

dont be silly. bacteria eat gold chloride and shits out clean gold(in laymans terms).. its not making gold, purely cleaning existant gold. and its not radioactive.. its chloride.

This is what happens when you use a misleading topic title: two pages of posts saying to change the topic title.

Yes!

Also, this article is from 2012.    Mighty big impact this has had, eh?