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Author Topic: Asteroid Mining and Precious Metal Prices  (Read 1320 times)
GoWest
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April 27, 2012, 10:57:07 PM
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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!

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trogdorjw73
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April 27, 2012, 11:26:38 PM
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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

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April 27, 2012, 11:38:03 PM
 #3

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.

silverbox
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April 27, 2012, 11:38:20 PM
 #4

Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold..
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April 27, 2012, 11:44:56 PM
 #5

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  Cheesy

notme
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April 28, 2012, 12:15:46 AM
 #6

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  Cheesy

Physical bitcoins would be vulnerable, and whoever was slowest to break them open would be stuck holding a worthless coin.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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mb300sd
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April 28, 2012, 12:16:48 AM
 #7

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

1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
ShireSilver
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April 28, 2012, 12:59:34 AM
 #8

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.

Shire Silver, a better bullion that fits in your wallet. Get some, now accepting bitcoin!
GoWest
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April 28, 2012, 01:03:47 AM
 #9

Alchemical transmutation of Lead into Gold is about as likely in our lifetimes, as an asteroid made of gold..

Well, here's 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!!

FreeMoney
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April 28, 2012, 01:40:31 AM
 #10

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.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Hexadecibel
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April 28, 2012, 03:23:43 AM
 #11

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...
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April 28, 2012, 09:38:52 AM
 #12

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.
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April 28, 2012, 12:54:05 PM
 #13

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.

Bitcoin combines money, the wrongest thing in the world, with software, the easiest thing in the world to get wrong.
Visit www.thevenusproject.com and www.theZeitgeistMovement.com.
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