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Actually, they are both wrong. The billionaires funding the project would be billionaires² and we would remain under their thumb.
According to the principles of trickle down economics we would at least get to drink their piss.
laughs in OPEC
well you can buy it
You think they’ll let you let them piss on you for free?!
a true golden shower
Only harder!
Sorry to disappoint, but analyses of Psyche 16 point to it being composed of iron, nickel, carbon, rock, and silicate. It’s mass is too light for it to be composed primarily of metal. For it to be mostly iron-nickel, it would be 50% internally porous, which is highly unlikely for it’s size. Gold is far more dense than iron.
Might make some electronics cheaper. I never really thought about it much but the logic gates in processors are all made from Silicon which is literally the most common element in the crust of the earth, in theory we should be able to make more RAM than anybody could ever want.
Shortages are between manufacturing capacity and demand. Manufacturers don’t want to expand capacity for some reason. You might think that they don’t believe the money will materialize to continue demand.
Or that (rightly) they can inflate prices by constraining supply (AKA cartel price fixing).
China’s coming to eat their lunch by manufacturing supply at a rate of knots, but line must go up this quarter. Idiots.
Strangely, China either doesn’t seem to want to, or perhaps isn’t capable of, overproducing RAM judging by the fact that they used AI Images when claiming to have so much RAM that it’s all worthless.
15 years ago they had Sun Jinlong of Anhui announce China will establish an electronics manufacturing hub, and now they have 2 DRAM factories, 1 DDR5, and a Solid State Drive factory. They’re called CXMT and YMTC.
Also, Fuck China.
It’s only price fixing if they make an agreement, not if they just hit on the same strategy 🙃
And while it may suck, the reason its treated differently is because without any agreement it’s inherently unstable: another player can unilaterally decide to increase production, like China.
On the up side, everyone rich enough to have been hording their wealth in gold would also be poor.
Which is mostly states
Why did I think gold was more electrically conductive than copper? Apparently it’s not and silver is even more conductive than copper. The same is true with thermal conductivity as well.
Because it is more electrically conductive than tarnished copper or silver, so electronics prefer gold since it can’t tarnish and will never degrade. If silver was chosen for CPUs, for instance, pretty much all devices would have to be hermetically sealed or be replaced within 18 months. Copper is only used in electronics when it will be relatively sealed in place (like in PCBs)
We still will be poor as rats but with fancy gold necklaces.
The gold will be buried in a bunker and never seen again somehow and a handful of people will be richer than all of humanity throughout history combined, and we will be eating little bars made from pressed insects with flavors that are only tangentially similar to beef, chicken, or shrimp.
Dumbpublican: so you’re telling me there’s a chance…
I suppose its market value might depend on which organization(s) retrieves/owns it. De Beers controlled and artificially inflated the market value of diamonds for like a century. IIRC they still own almost half of the global diamond supply today.
Mansa Musa has entered the chat
Just wait until they figure out how many quintillions of precious metals are in the earth…
It’s a bit hard to thoroughly mine the earth though
Yeah, mining this asteroid is eez…
Movie idea: A very stupid superhero and a slightly less stupid supervillain work together to crash Gold Asteroid on Earth. They are assisted by a very suicidal scientist.
Movie idea: A colossal asteroid is racing towards Earth but the incompetent and corrupt government makes people believe it’s a hoax and gives the reins to tech oligarchs who let it hit Earth so that they can salvage the precious metals and the world explodes and then Meryl Strep gets her face ate by a bronteroc.
De Beers, seeing an opportunity