BITCOIN

Type_45

masonic said:

Fingers crossed those pesky particle physicists don't create a new stable chemical element with superior properties to gold.

Diamonds can be manufactured.  Has that lowered the value of diamonds?


Gold can be made from platinum or mercury.

Section62

Type_45 said:

masonic said:

Fingers crossed those pesky particle physicists don't create a new stable chemical element with superior properties to gold.

Gold can be made from platinum or mercury.

Are you sure about that?

Zola.

Section62 said:

Type_45 said:

masonic said:

Fingers crossed those pesky particle physicists don't create a new stable chemical element with superior properties to gold.

Gold can be made from platinum or mercury.

Are you sure about that?

Technically it can be, but not for any useful commercial purpose. So yeah that makes it pretty weird point to make!! Platinum is also more scarce than gold and any supply is usually snapped up pretty quickly. 

 https://www.wtamu.edu/~cbaird/sq/2014/05/02/can-gold-be-created-from-other-elements/#:~:text=Bombarding a platinum or mercury,from other elements is radioactive.

Usually gold is created from platinum, which has one less proton than gold, or from mercury, which has one more proton than gold. Bombarding a platinum or mercury nucleus with neutrons can knock off an neutron or add on a neutron, which through natural radioactive decay can lead to gold. As should be obvious by this production process, much of the gold created from other elements is radioactive. Radioactive gold is hazardous to humans and cannot be sold commercially. Furthermore, when radioactive gold undergoes radioactive decay after a few days, it is no longer gold. Therefore, in order to create non-radioactive gold that you can sell to consumers you have to:

1. Build a nuclear reactor to act as your source of neutrons.
2. Place mercury in the reactor. After a large amount of work, only a tiny portion of gold is created.
3. Decontaminate the resulting gold. This is harder than it sounds because you can't separate out non-radioactive gold from radioactive gold using purely chemical methods.

Section62

Zola. said:

Section62 said:

Type_45 said:

masonic said:

Fingers crossed those pesky particle physicists don't create a new stable chemical element with superior properties to gold.

Gold can be made from platinum or mercury.

Are you sure about that?

Technically it can be, but not for any useful commercial purpose. So yeah that makes it pretty weird point to make!! Platinum is also more scarce than gold and any supply is usually snapped up pretty quickly. 

Yes, though I was primarily wondering whether Type_45 had missed masonic's careful use of the word 'stable'.

Reaper

Interesting to hear Elon Musk has sold 75% of his Bitcoin just 14 months after saying he would not. 
https://www.bbc.co.uk/news/business-62246367

Was that a lie to keep the price up as he sold? Even if it was it is an unregulated market so he can tweet whatever he likes, unlike his tweets that affected the share price - they got him into hot water.

Zola.

Maybe.. but why would he not sell all? Tesla ultimately still has $375 million in bitcoin.

He claims he needs cash, which there is probably an element of truth to now that he is in a legal battle with Twitter over a $44Bn takeover. 

Section62

Reaper said:

Interesting to hear Elon Musk has sold 75% of his Bitcoin just 14 months after saying he would not. 
https://www.bbc.co.uk/news/business-62246367

Was that a lie to keep the price up as he sold? Even if it was it is an unregulated market so he can tweet whatever he likes, unlike his tweets that affected the share price - they got him into hot water.

....Tesla's Bitcoin, not 'his'.

Which means the Bitcoin of everyone with an investment which includes Tesla shares...  there should be some kind of reckoning for the directors of listed companies who've gambled speculated on crypto and in doing so lost shareholder's money, just as there should be for any other unwise decisions that have the same effect.

YellowStarling

Sold to boost Tesla earnings.

Zola.

YellowStarling said:

Sold to boost Tesla earnings.

Think that has to be it also..

Tesla has fallen victim to supply chain chaos in China and a damaging bet on Bitcoin, bringing a record run of profits at Elon Musk’s car company to a sudden end.

The electric vehicle maker also sold off a chunk of its Bitcoin holdings, the company said on Wednesday, as its bet on the cryptocurrency soured. 

Revenues at Tesla dropped by 9pc between the second and first quarter to $16.9bn (£14.1bn), though were still 42pc higher than a year earlier.

Its revenues were down on the record three-month revenues of $18.8bn it posted earlier this year amid supply chain woes and a factory shut down in China due to Covid restrictions.

Telsa said it “faced certain challenges, including limited production and shutdowns in Shanghai for the majority of the quarter” but claimed it “continued to make significant progress across the business during the second quarter of 2022”.

Earlier this month, Tesla reported it had delivered more than 254,000 electric vehicles, down from around 300,000 in the previous quarter.

DoublePolaroid

Elon Musk, like every super wealthy, well-connected American entrepreneur, is basically above the law. He’s been getting away with market manipulation for years and he’ll get off with a meaningless (for him) fine for the Twitter takeover nonsense.