I thought the factoid was that all of the gold extracted by humanity would fit in a couple of Olympic swimming pools?"...though I don’t imagine gold will become the catalyst of choice any time soon."
Which is pretty absurd when you think about it. Humanity has extracted literal mountains worth of the stuff. And for almost the entirety of human history, gold was of no real use beyond the decorative. Even today, gold's use in industry is pretty negligible. Yes, there are uses for it now, but the amounts used for those processes and products is trivially minimal. So we're talking about a material that we have in abundance nearly comparable to steel, living on an artificial price legacy similar to diamonds.
So we could be using gold as a regular catalyst, were it not for artificially manufactured scarcity.
There's roughly 3500 tons of gold mined every year. The total amount of gold mined is estimated to be 220,000 tons. There's some big error bars on that figureI thought the factoid was that all of the gold extracted by humanity would fit in a couple of Olympic swimming pools?
Now, if you're including all of the overburden and gangue moved to extract that gold, then I can believe you're talking multiple mountains' worth
Negligible? You must not work in (micro)electronics."...though I don’t imagine gold will become the catalyst of choice any time soon."
Which is pretty absurd when you think about it. Humanity has extracted literal mountains worth of the stuff. And for almost the entirety of human history, gold was of no real use beyond the decorative. Even today, gold's use in industry is pretty negligible. Yes, there are uses for it now, but the amounts used for those processes and products is trivially minimal. So we're talking about a material that we have in abundance nearly comparable to steel, living on an artificial price legacy similar to diamonds.
So we could be using gold as a regular catalyst, were it not for artificially manufactured scarcity.
I'm not sure that's true. There's plenty of gold in the earth, sure. But it's in the mantle. Gold's use in industry is limited by actual scarcity, compared to iron, aluminum, nickel, cobalt, even titanium. It's true there'd be more in circulation if we melted down all the gold bars, but it still wouldn't be economical, or even possible, to start ripping out all the copper (probably the closest functional analogue) and replacing it with gold."...though I don’t imagine gold will become the catalyst of choice any time soon."
Which is pretty absurd when you think about it. Humanity has extracted literal mountains worth of the stuff. And for almost the entirety of human history, gold was of no real use beyond the decorative. Even today, gold's use in industry is pretty negligible. Yes, there are uses for it now, but the amounts used for those processes and products is trivially minimal. So we're talking about a material that we have in abundance nearly comparable to steel, living on an artificial price legacy similar to diamonds.
So we could be using gold as a regular catalyst, were it not for artificially manufactured scarcity.
Made me curious, found https://www.usgs.gov/faqs/how-much-gold-has-been-found-world (may be about a decade old) which says a cube 23m on a side, so about 5x https://en.wikipedia.org/wiki/Olympic-size_swimming_poolI thought the factoid was that all of the gold extracted by humanity would fit in a couple of Olympic swimming pools?
Globally we mine roughly 100-200 m^3 of gold per year -- an olympic-sized swimming pool every couple decades. We've been at that rate for a century or so, which means more like 5-10 swimming pools, which is indeed still not a mountain.I thought the factoid was that all of the gold extracted by humanity would fit in a couple of Olympic swimming pools?
Now, if you're including all of the overburden and gangue moved to extract that gold, then I can believe you're talking multiple mountains' worth
Six orders of magnitude, I’d have thought: the world produces about two billion tons of steel a year and about four thousand tons of gold.Not in my wheelhouse but I am guessing a couple orders of magnitude more iron than gold has been purified.
Very interesting article. Thank you Chris.
1. The total amount of gold mined throughout human history probably wouldn’t take up more volume than a mid-to-large urban building."...though I don’t imagine gold will become the catalyst of choice any time soon."
Which is pretty absurd when you think about it. Humanity has extracted literal mountains worth of the stuff. And for almost the entirety of human history, gold was of no real use beyond the decorative. Even today, gold's use in industry is pretty negligible. Yes, there are uses for it now, but the amounts used for those processes and products is trivially minimal. So we're talking about a material that we have in abundance nearly comparable to steel, living on an artificial price legacy similar to diamonds.
So we could be using gold as a regular catalyst, were it not for artificially manufactured scarcity.
Thanks. Still seems quite a bit when you consider that main sequence stars end product is almost all iron and gold is only created in very high energy stellar events like kilonova or supernova.Six orders of magnitude, I’d have thought: the world produces about two billion tons of steel a year and about four thousand tons of gold.
Hexagons are bestagons.Hex is best
The majority of Iron comes from a Type Ia supernova, roughly half solar mass per supernova.Thanks. Still seems quite a bit when you consider that main sequence stars end product is almost all iron and gold is only created in very high energy stellar events like kilonova or supernova.
Lies, everyone knows that torx is by far better than hexHexagons are bestagons.
Yet from a quick search, platinum is roughly 30 times rarer than gold, as well as being used for jewelry also. So maybe there is a place for gold nanoparticle catalysts - as long as you can keep them from getting lost.So while there's potential in the metal here, platinum remains the gold standard for catalysts is what I'm reading.
Not in my wheelhouse but I am guessing a couple orders of magnitude more iron than gold has been purified.
Very interesting article. Thank you Chris.
Six orders of magnitude, I’d have thought: the world produces about two billion tons of steel a year and about four thousand tons of gold.
What's the rest? I'm just guessing that it's mainly nickel.The majority of Iron comes from a Type Ia supernova, roughly half solar mass per supernova.
If it behaves like a Sacred Band, no wonder it's used in wedding rings!So, not so much bodyguards, more a peloton or a phalanx. Gold is just very egalitarian I guess.
My understanding is that specifically the cost of extraction is why it's been consistently used that way. That it's mostly non-reactive, and kinda pretty, are nice bonuses, but the principle thing is that it took (and still takes) a lot of work (mostly labor, but also capital) to mine and refine gold. In the realm of, like, a month's work per ounce.2. It’s rarity, general absence of catalysis, and resistance to oxidation is the whole reason it has been used as the most esteemed store of value and medium of exchange by every society that had access to it with any degree of commercial activity or state-driven exchange as far back as can be discerned.
You mean it’s the platinum standardSo while there's potential in the metal here, platinum remains the gold standard for catalysts is what I'm reading.
I just read somewhere that all the gold and platinum is actually formed in neutron star mergers only.Thanks. Still seems quite a bit when you consider that main sequence stars end product is almost all iron and gold is only created in very high energy stellar events like kilonova or supernova.
You mean there's a kind of merger that adds rather than subtracts value?I just read somewhere that all the gold and platinum is actually formed in neutron star mergers only.
...has bodyguards protecting it.
As someone who once had a small but very heavy bottle of gold cyanide in the lab safe, I concur.It's always funny that people perceive gold to be "inert". While it doesn't oxidize, it will very happily form compounds with many things at any sense of elevated temperature.
Well played.You mean there's a kind of merger that adds rather than subtracts value?
It starts out as Nickel 56, decays into Cobalt-56, which in turn decays into the stable Iron 56.What's the rest? I'm just guessing that it's mainly nickel.