Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by El duderino_ (13) ,vapourminer (10) ,Hueristic (1) ,AlcoHoDL (1) ,psycodad (1) ,OutOfMemory (1)
The gold re-evaluation thing as an accounting trick (without actually selling any), I saw it mentioned first just before Orange Man took office. I think it was Hayes's blog - one of my preferred sources for bitcoin relevant macro analysis - but I wouldn't bet my family jewels on that. At any rate, it's not a new idea, as it's been mentioned several times after Biden went to sleep.
They located the philosophers stone!
Quote
Scientists Discover a Fungus That Produces Real Gold — And You Can Grow It at Home
https://techoreon.com/discovery-of-fungus-producing-real-gold-grow-at-home/
Damn! I was up all night trying to figure out how to get me some of this fungus. Turns out this discovery was made 6 years ago and sadly, it doesn't actually turn other metals into gold but I suspected that due to the massive amounts of energy required for the transmutation of metals. Instead, the fungus acts as a biological catalyst which can produce the necessary oxidants and ligands [molecules or ions that form a bond with a central metal atom] to dissolve gold and then incorporate it into it's biomass. The gold has to already exist so we're not going to be able to run biological gold generators in out back yards with our used beer cans and brake rotors.
It essentially catalyzes this reaction somehow:
Au(s) + O2- + 2 H2O(l) = Au(OH)4- (log K25 = -1.91)
O2- <-- this is known as superoxide and is a common byproduct of plant and fungal metabolic processes
(log K25 = -1.91) <-- this negative value indicates that the reaction doesn't favour the right side under normal circumstances (which makes sense since gold is highly inert)
That sucks. Hopefully bitcoin will moon to make up for that disappointment.