If mining asteroids becomes commonplace is any element rare enough to be money? - page 2.

dKingston

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Quote from: LostDutchman on March 18, 2014, 03:27:44 AM

Quote from: dKingston on March 18, 2014, 01:16:10 AM

Just think one Asteroid with the diameter one kilometer. Can provide all the world iron production for a year, all the world production for gold and silver for 10 years. All platinum production for a thousand years. And this only for a small asteroid and there are more than 750k other asteriods with same size other even called dwarf planet.

So you are saying that the discovery of such an asteroid and the subsequent mining thereof would herald the End of The World As We Know It?

My $.02.

Wink

I don't know why you are thinking that world would end if we are starting mine asteriods? Lol

Most of this ores are to be used in space. Like to build cities in mars, space cities, moon base and many other things. Do you know the cost of getting 1pound of payload to space?

Anon136

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Quote from: txbt on March 18, 2014, 04:05:09 AM

Quote from: Anon136 on March 17, 2014, 01:10:11 PM

we arn't talking about guys in space suits with pick axes here. we are talking about someone buying up a big desert somewhere and vaporizing it on entry in the atmosphere above his property and then harvesting it with a big machine like a spice harvester from dune. or something else novel like that.

When do you think this will be possible? I wonder how much will it cost to bring it down to earth? (assuming that aerospace regulators will allow it).

probably within the next 100 years. the thing is that the markets will start pricing this in 100 years in advance, and i am living proof of this because i sold silver to buy bitcoin for (atleast partially) precisely this reason.

txbt

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Quote from: Anon136 on March 17, 2014, 01:10:11 PM

we arn't talking about guys in space suits with pick axes here. we are talking about someone buying up a big desert somewhere and vaporizing it on entry in the atmosphere above his property and then harvesting it with a big machine like a spice harvester from dune. or something else novel like that.

When do you think this will be possible? I wonder how much will it cost to bring it down to earth? (assuming that aerospace regulators will allow it).

Lethn

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lol seriously? You know he's not saying that in the slightest, he's just pointing out something entirely true and I'm a Jeweller ffs, to be honest, space asteroids would be great for someone like me because it would mean that I could buy up gold for my Jewellery at cheap prices whereas now I'm having to stick to silver because gold is just too damn expensive to learn with never mind produce a lot of Jewellery with.

The precious metals markets would certain have massive crash and you'd see panic from people like Peter Schiff but eventually we'll just go and find some other rare metal to latch onto as a store of value.

LostDutchman

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Quote from: dKingston on March 18, 2014, 01:16:10 AM

Just think one Asteroid with the diameter one kilometer. Can provide all the world iron production for a year, all the world production for gold and silver for 10 years. All platinum production for a thousand years. And this only for a small asteroid and there are more than 750k other asteriods with same size other even called dwarf planet.

So you are saying that the discovery of such an asteroid and the subsequent mining thereof would herald the End of The World As We Know It?

My $.02.

Wink

dKingston

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Just think one Asteroid with the diameter one kilometer. Can provide all the world iron production for a year, all the world production for gold and silver for 10 years. All platinum production for a thousand years. And this only for a small asteroid and there are more than 750k other asteriods with same size other even called dwarf planet.

Anon136

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Quote from: tkbx on March 17, 2014, 08:44:48 AM

Quote from: Anon136 on March 17, 2014, 12:07:04 AM

Quote from: tkbx on March 16, 2014, 11:54:41 PM

This is one of the things I love about Bitcoin. Something like gold is rare until we find more of it. Something like Bitcoin is rare until 1 != 1.
I love the idea of gold, but it's the 21st goddamn century, it can't be too long before we can make a serious profit either mining gold on other planets, moons, asteroids, etc., or creating gold.

you know that its been done. man kind has created gold. the age old quest of the alchemists has been realized. its mind boggling.

But it can't be profitable yet or gold would be nearly worthless. I'm worried about when it is profitable.

oh yea they made like a couple of atoms of gold for a price of hundreds of thousands of dollars. it would cost like a billion or a trillion times world gdp to make a single coin like that. i just think its awesome that someone out there is a true legitimate alchemist. alchemy is real and alchemists exist! mind boggling!

Anon136

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Quote from: sudoku on March 17, 2014, 07:28:06 AM

It would cost more to mine gold on an asteroid than it would be worth. Just as it costs more create gold in the laboratory than it is worth. The scarcity of bitcoin is artificial. It is quite easy to fork the blockchain and create a version of bitcoin with 1000000x the supply. The true value of bitcoin is the discovery of distributed concensus protocol which makes bitcoin possible. This discovery enables a whole lot more than just bitcoin currency. When people start to apply this discovery in earnest, it will change the world.

we arn't talking about guys in space suits with pick axes here. we are talking about someone buying up a big desert somewhere and vaporizing it on entry in the atmosphere above his property and then harvesting it with a big machine like a spice harvester from dune. or something else novel like that. try to use a little more imagination.

yea all that other stuff sounds good. im a bitcoin speculator myself, i just dont pretend that its "savings".

tkbx

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Quote from: Anon136 on March 17, 2014, 12:07:04 AM

Quote from: tkbx on March 16, 2014, 11:54:41 PM

This is one of the things I love about Bitcoin. Something like gold is rare until we find more of it. Something like Bitcoin is rare until 1 != 1.
I love the idea of gold, but it's the 21st goddamn century, it can't be too long before we can make a serious profit either mining gold on other planets, moons, asteroids, etc., or creating gold.

you know that its been done. man kind has created gold. the age old quest of the alchemists has been realized. its mind boggling.

But it can't be profitable yet or gold would be nearly worthless. I'm worried about when it is profitable.

GigaCoin

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Giga

Quote from: Anon136 on March 16, 2014, 07:54:04 PM

One of the reasons i bought bitcoin is because i was worried about the possibility of asteroid mining. I have been told that a single captured asteroid could potentially double the supply of gold or silver. This would make these elements essentially worthless as money. You wouldn't be strong enough to carry enough to buy something with them. So then my question is, if this were to happen would something like iridium or osmium be rare enough to still allow value to be portable even under these circumstances?

it's true actually, there is alot of evidence of abundant Gold, silver and iron in Asteroids.

sudoku

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It would cost more to mine gold on an asteroid than it would be worth. Just as it costs more create gold in the laboratory than it is worth. The scarcity of bitcoin is artificial. It is quite easy to fork the blockchain and create a version of bitcoin with 1000000x the supply. The true value of bitcoin is the discovery of distributed concensus protocol which makes bitcoin possible. This discovery enables a whole lot more than just bitcoin currency. When people start to apply this discovery in earnest, it will change the world.

EvilPanda

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Small Red and Bad

"The tendency in diamond mining is to combine with smaller groups to form larger ones." Just like bitcoin mining Cheesy

Anon136

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Quote from: Bit_Happy on March 17, 2014, 12:14:08 AM

Quote from: Anon136 on March 17, 2014, 12:05:47 AM

Quote from: Bit_Happy on March 17, 2014, 12:01:31 AM

Quote from: Anon136 on March 16, 2014, 10:31:13 PM

Quote from: EvilPanda on March 16, 2014, 10:23:03 PM

Same thing with diamonds, there's a lot of them hidden below but we're not advanced enough to extract them efficiently.

there are a lot of them above ground. diamonds arnt actually rare at all. that's a myth. the only reason they have such a high value is because the de beers diamond cartel has monopolized the supply and holds them off of the market inorder to artificially inflate the price.

No longer 100% correct, times have changed:
The Incredible Story Of How De Beers Created And Lost The Most Powerful Monopoly Ever
http://www.businessinsider.com/history-of-de-beers-2011-12?op=1
...
But more recently, countries with enormous stockpiles of their own, like Russia, Canada and Australia, have refused to cooperate with the single channel system.

These problems, along with issues of flat prices, forced De Beers to switch up the company's strategy. In the last decade De Beers has moved away from rough-diamond supplying and controlling the entire industry, instead focusing on promoting its own brand of diamonds and retail stores.

interesting info. one would think this would have effected the price more.

I suppose the illusion of scarcity will take more time to wear off.
interesting info
Yes, I learned something new today...Wish I could get paid just to learn "stuff"

you almost sort of can. by "learning stuff" about bitcoin i realized that i should buy it and it was about $12 at that time Cheesy

. granted it required that i actually buy them but that was super easy compared to the "learning stuff" part that allowed me to realize that i ought to buy them.

Bit_Happy

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A Great Time to Start Something!

Quote from: Anon136 on March 17, 2014, 12:05:47 AM

Quote from: Bit_Happy on March 17, 2014, 12:01:31 AM

Quote from: Anon136 on March 16, 2014, 10:31:13 PM

Quote from: EvilPanda on March 16, 2014, 10:23:03 PM

Same thing with diamonds, there's a lot of them hidden below but we're not advanced enough to extract them efficiently.

there are a lot of them above ground. diamonds arnt actually rare at all. that's a myth. the only reason they have such a high value is because the de beers diamond cartel has monopolized the supply and holds them off of the market inorder to artificially inflate the price.

No longer 100% correct, times have changed:
The Incredible Story Of How De Beers Created And Lost The Most Powerful Monopoly Ever
http://www.businessinsider.com/history-of-de-beers-2011-12?op=1
...
But more recently, countries with enormous stockpiles of their own, like Russia, Canada and Australia, have refused to cooperate with the single channel system.

These problems, along with issues of flat prices, forced De Beers to switch up the company's strategy. In the last decade De Beers has moved away from rough-diamond supplying and controlling the entire industry, instead focusing on promoting its own brand of diamonds and retail stores.

interesting info. one would think this would have effected the price more.

I suppose the illusion of scarcity will take more time to wear off.
interesting info
Yes, I learned something new today...Wish I could get paid just to learn "stuff"

Anon136

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Quote from: tkbx on March 16, 2014, 11:54:41 PM

This is one of the things I love about Bitcoin. Something like gold is rare until we find more of it. Something like Bitcoin is rare until 1 != 1.
I love the idea of gold, but it's the 21st goddamn century, it can't be too long before we can make a serious profit either mining gold on other planets, moons, asteroids, etc., or creating gold.

you know that its been done. man kind has created gold. the age old quest of the alchemists has been realized. its mind boggling.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: Bit_Happy on March 17, 2014, 12:01:31 AM

Quote from: Anon136 on March 16, 2014, 10:31:13 PM

Quote from: EvilPanda on March 16, 2014, 10:23:03 PM

Same thing with diamonds, there's a lot of them hidden below but we're not advanced enough to extract them efficiently.

there are a lot of them above ground. diamonds arnt actually rare at all. that's a myth. the only reason they have such a high value is because the de beers diamond cartel has monopolized the supply and holds them off of the market inorder to artificially inflate the price.

No longer 100% correct, times have changed:
The Incredible Story Of How De Beers Created And Lost The Most Powerful Monopoly Ever
http://www.businessinsider.com/history-of-de-beers-2011-12?op=1
...
But more recently, countries with enormous stockpiles of their own, like Russia, Canada and Australia, have refused to cooperate with the single channel system.

These problems, along with issues of flat prices, forced De Beers to switch up the company's strategy. In the last decade De Beers has moved away from rough-diamond supplying and controlling the entire industry, instead focusing on promoting its own brand of diamonds and retail stores.

interesting info. one would think this would have effected the price more.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: Anon136 on March 16, 2014, 10:31:13 PM

Quote from: EvilPanda on March 16, 2014, 10:23:03 PM

Same thing with diamonds, there's a lot of them hidden below but we're not advanced enough to extract them efficiently.

there are a lot of them above ground. diamonds arnt actually rare at all. that's a myth. the only reason they have such a high value is because the de beers diamond cartel has monopolized the supply and holds them off of the market inorder to artificially inflate the price.

No longer 100% correct, times have changed:
The Incredible Story Of How De Beers Created And Lost The Most Powerful Monopoly Ever
http://www.businessinsider.com/history-of-de-beers-2011-12?op=1
...
But more recently, countries with enormous stockpiles of their own, like Russia, Canada and Australia, have refused to cooperate with the single channel system.

These problems, along with issues of flat prices, forced De Beers to switch up the company's strategy. In the last decade De Beers has moved away from rough-diamond supplying and controlling the entire industry, instead focusing on promoting its own brand of diamonds and retail stores.

tkbx

sr. member

Activity: 350

Merit: 251

This is one of the things I love about Bitcoin. Something like gold is rare until we find more of it. Something like Bitcoin is rare until 1 != 1.
I love the idea of gold, but it's the 21st goddamn century, it can't be too long before we can make a serious profit either mining gold on other planets, moons, asteroids, etc., or creating gold.

LostDutchman

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Activity: 476

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Quote from: Anon136 on March 16, 2014, 10:31:13 PM

Quote from: EvilPanda on March 16, 2014, 10:23:03 PM

Same thing with diamonds, there's a lot of them hidden below but we're not advanced enough to extract them efficiently.

there are a lot of them above ground. diamonds arnt actually rare at all. that's a myth. the only reason they have such a high value is because the de beers diamond cartel has monopolized the supply and holds them off of the market inorder to artificially inflate the price.

Thank you for your 100% correct and on spot post!

My $.02.

Wink

Anon136

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Activity: 1722

Merit: 1217

Quote from: EvilPanda on March 16, 2014, 10:23:03 PM

Same thing with diamonds, there's a lot of them hidden below but we're not advanced enough to extract them efficiently.

there are a lot of them above ground. diamonds arnt actually rare at all. that's a myth. the only reason they have such a high value is because the de beers diamond cartel has monopolized the supply and holds them off of the market inorder to artificially inflate the price.

Topic: If mining asteroids becomes commonplace is any element rare enough to be money? - page 2. (Read 4259 times)