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Technically it's worth nothing without the means to mine it and utilize all of that metal.
by polishdude20 6y ago
Technically it's worth nothing without the means to mine it and utilize all of that metal.
- enjeyw 6y agoAlso, with that much metal, it won't exactly be rare anymore! Hard to imagine the price wouldn't drop 100X. (Loving the ridiculous hypothetical)
- andrewjl 6y agoIt's not always that simple, there may be potential uses that are uneconomical at current prices but kick in at 10x or even 2x reduction. The increased demand would prevent further collapse. See Jevons paradox[1] for a more general case of this in coal and road usage. Injecting that amount of mineral wealth into the global economy would be pretty much an unalloyed good. So many things would become cheaper to build. https://en.wikipedia.org/wiki/Jevons_paradox https://en.wikipedia.org/wiki/Jevons_paradox
- polishdude20 6y ago"unalloyed" I see what you did there ;)
- weego 6y agoThat never stopped De Beers.
- ALittleLight 6y agoThat's not true. If you had the option to buy the rights to that asteroid for 100 dollars, I assume you would even though it might not minable for the next century. The asteroid probably has some immense value right now if we could figure out ownership.