alt Hacker NewsUnfortunately gold generated in this way would be radioactive. They calculate they would have to store the gold for over 13 years to not require labeling as radioactive waste, or over 17 years to reach the level of radioactivity of a banana.
I bet it would still be less valuable than regular gold even after that. It could still be identified, and people would discriminate against it. People are funny about nuclear waste, and likely wouldn't accept arguments like "it's perfectly safe" and "it's less radioactive than a banana".
Replies
This is not a problem for finance bros, they would sell a discounted note that gave you "ownership" of the gold in 17 years at some discount on the current spot price of gold. So you'd get these things that 'mature' in 17 years and you know their going to be worth whatever the spot price of gold is then, so it becomes a simple problem of pricing the risk that gold will be worth something in 17 years (people by gold futures all the time which this basically is).
That seems like so little time it’s just a slight detail to iron out.
I also doubt it would be worth much less. I suspect most gold physically sits idle for longer periods of time while changing ownership often.
It reminded me of avocado trees. They take a couple of years to produce avocados and still people plant those.
That thought fails altogether since it will do perfectly well sitting in a vault as a reserve for a 1:1 gold backed crypto coin. Of course this holds true only until its value collapses due to its lack of scarcity.
Well for gold that will be placed in some vault dig deep into the ground that doesn't seem too bad trade off..
Imagine a whiskey manufacturer saying "this is impossible because we'll have to age it for 13 years" lel
>In practice, given that much of all gold is used to store value and is not actively in use, we do not expect the need to store it for 7–17 years to be a major impediment; at worst, it means that the product will initially have somewhat less value than pure 197Au, and so some discount should be applied to the value of freshly produced gold.