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Title: Asteroid Mining and Precious Metal Prices Post by: GoWest on April 27, 2012, 10:57:07 PM What would happen if Planetary Resources stumbled across an asteroid or two with significant gold content? Would that not dilute the gold market significantly? What if there's a near-Earth asteroid that's solid gold?
Suddenly, precious metals aren't looking like such a great investment, especially 10 to 15 years from now (i.e., not that far into the future). Discuss! Title: Re: Asteroid Mining and Precious Metal Prices Post by: trogdorjw73 on April 27, 2012, 11:26:38 PM Reminds me of this comic series -- you'll have to read at least a few weeks worth to get up to speed.
http://trenchescomic.com/comic/post/11119 Title: Re: Asteroid Mining and Precious Metal Prices Post by: adamstgBit on April 27, 2012, 11:38:03 PM What would happen if Planetary Resources stumbled across an asteroid or two with significant gold content? Would that not dilute the gold market significantly? What if there's a near-Earth asteroid that's solid gold? Suddenly, precious metals aren't looking like such a great investment, especially 10 to 15 years from now (i.e., not that far into the future). Discuss! can you image the cost of OFF WORLD MINING! its much cheaper to just dig it up out of our backyard. Title: Re: Asteroid Mining and Precious Metal Prices Post by: silverbox on April 27, 2012, 11:38:20 PM Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold..
Title: Re: Asteroid Mining and Precious Metal Prices Post by: adamstgBit on April 27, 2012, 11:44:56 PM Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold.. Imagine if we created an energy matter converter AKA "startrek replicator", you could replicate gold / silver / cash... wtv, but not Bitcoins :D Title: Re: Asteroid Mining and Precious Metal Prices Post by: notme on April 28, 2012, 12:15:46 AM Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold.. Imagine if we created an energy matter converter AKA "startrek replicator", you could replicate gold / silver / cash... wtv, but not Bitcoins :D Physical bitcoins would be vulnerable, and whoever was slowest to break them open would be stuck holding a worthless coin. Title: Re: Asteroid Mining and Precious Metal Prices Post by: mb300sd on April 28, 2012, 12:16:48 AM Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold.. Its already been done... all you need is a particle accelerator http://chemistry.about.com/cs/generalchemistry/a/aa050601a.htm Title: Re: Asteroid Mining and Precious Metal Prices Post by: ShireSilver on April 28, 2012, 12:59:34 AM As someone involved in the precious metals market I am watching these developments. However, they are many years away so I'm not too worried for the near future.
But if and when they do strike a major load, it will take time for it to be mined, processed, and integrated into the economy. Title: Re: Asteroid Mining and Precious Metal Prices Post by: GoWest on April 28, 2012, 01:03:47 AM Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold.. Well, here's (http://mashable.com/2012/04/26/planetary-resources-asteroid-mining-trillions/) an asteroid containing $8 trillion worth of platinum. It's just a matter of time before a similar rock is found, but containing gold. $8 trillion!! Title: Re: Asteroid Mining and Precious Metal Prices Post by: FreeMoney on April 28, 2012, 01:40:31 AM As someone involved in the precious metals market I am watching these developments. However, they are many years away so I'm not too worried for the near future. But if and when they do strike a major load, it will take time for it to be mined, processed, and integrated into the economy. The marginal buyer may be enticed to wait for the huge supply when he sees it coming down the line. Not to mention speculators will be pulling out. Still it's a long way off imo and I'm holding some metals. Title: Re: Asteroid Mining and Precious Metal Prices Post by: Hexadecibel on April 28, 2012, 03:23:43 AM According to that artical, Platinum is trading at the same price as gold.
Wow. I only heard of this in passing, and I immediately dismissed it. Now I see why they're doing it... a rock only a mile wide but bearing 8 trillion worth of platinum.... Platinum has a lot more uses than gold I think too... Title: Re: Asteroid Mining and Precious Metal Prices Post by: blablahblah on April 28, 2012, 09:38:52 AM So they do some kind of cost-benefit analysis, terrain mapping, and generally sit around in space suits sipping coffee in camel packs. They bring back core samples. Then they ask the government for a grant to start a mining operation, and build free teleports to compensate angry aliens for the damage to their habitat (but only after the aliens nuke a few cities first).
Then it turns out that the mine only just breaks even when the price of gold exceeds $1800 (in April 2012 dollars). The contractors, sub-contractors, and sub-sub-sub-contractors made a killing on building the mine, and the investors make an excellent source of funds. Title: Re: Asteroid Mining and Precious Metal Prices Post by: LightRider on April 28, 2012, 12:54:05 PM Hopefully people would realize that money distorts value and perception, and that physical resources are what's important. Maybe they'd realize the value and obvious need for a resource based economy.
Also, the cost of fighting off the aliens would be cost prohibitive, from a human life standpoint. |