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Golden asteriod


Moocher

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6 hours ago, silenceissilver said:

The asteroid that makes the whole silver forum poor

I’m not an investment analyst but would the price of gold be driven down if we could mine gold from space or mass manufacture it on earth? Isn’t gold’s value based on it being a scarce resource? Pardon my ignorance.

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7 minutes ago, Serendipity said:

I’m not an investment analyst but would the price of gold be driven down if we could mine gold from space or mass manufacture it on earth? Isn’t gold’s value based on it being a scarce resource? Pardon my ignorance.

Surely the cost of trying to mine gold on an asteroid would be out of this world.

The price of a small piece of meteorite rock is astronomical, so imagine the premium on the gold from this asteroid!

And if the asteroid is so large that it would damage the gold market, its collision with Earth would probably wipe out everything anyway.

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I'm pretty sure whomever gets to mine it, will not distribute it evenly so that "everyone on Earth" becomes a billionaire... 😂 

The Japanese are in a good position in the space mining race. 

https://www.theregister.co.uk/2019/05/14/phobos_jaxa_mission/

For me the question is which company should I bet on and buy some shares. :)

https://www.sciencefocus.com/space/space-mining-the-new-goldrush/

 

 

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. - H.L. Mencken

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1 hour ago, jultorsk said:

For me the question is which company should I bet on and buy some shares. :)

https://www.sciencefocus.com/space/space-mining-the-new-goldrush/

I fear you would have to wait 25 to 30 years to reap any rewards.

If someone was a teenager today it might be worth betting £1,000 for a long-term return.

Unless of course this asteroid was a Chinese gold clad rock!

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4 hours ago, Serendipity said:

I’m not an investment analyst but would the price of gold be driven down if we could mine gold from space or mass manufacture it on earth? Isn’t gold’s value based on it being a scarce resource? Pardon my ignorance.

It would but fortunately it would probably take centuries to get substantial amounts of gold from space. And it won't start with even very small amounts for decades. However, from a historic perspective, we might be close to the end of a very long area and gold might be the new copper in 500 years. I don't think it will affect even the grandchildren of people who are now 18, even when they will be old. But a few generations later....would be a shame but it's certainly possible.

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Gold Asteroid

The asteroid in question is called Psyche 16, and it is nestled between the orbits of Mars and Jupiter. This asteroid isn't the average one as it’s actually made of solid metal. Along with large amounts of gold, there are huge quantities of platinum, iron, and nickel. All of those metals are pretty expensive, so how much is the asteroid itself actually worth?

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The prospect of gold is just to get interest and funding for space exploration going.  There's two outcomes, the cost of extraction and recovery makes any serious mining uneconomical, or it is feasible and crashes the price of gold. 

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