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Who writes these idiotic headlines. If these metals will be more common, their price will drop. When the Spanish brought large amounts of gold and silver from

Who writes these idiotic headlines. If these metals will be more common, their price will drop. When the Spanish brought large amounts of gold and silver from the new word, it became less valuable. Because prices are denominated in gold and silver the result was price inflation. > Generally it is thought that this high inflation was caused by the large influx of gold and silver from the Spanish treasure fleet from the New World, including Mexico, Peru, and the rest of the Spanish Empire. https://en.m.wikipedia.org/wiki/Price_revolution https://en.m.wikipedia.org/wiki/Price_revolution

graderjs 4y ago
Heey that's not very nice. I don't understand all this inflation stuff, but I don't think it's incorrect or misleading to say, at current prices (or 2020 prices), that giant metal space rock will be worth 70,000 times the world GDP. I mean, that's actually really fucking smart, to put it into perspective, make it concrete in a way that people can go, oh wow that must be a fucking big rock. It's just a different side to it. And you're sharing a side as well. It doesn't mean it has to be "stupid" ( > Who writes these idiotic headlines. ) just because it's different to your perspective on it. Maybe you feel good to say that, but it's just abusive really, because you're puffing yourself up by shitting on someone else's view. But you can have both views, really. Anyway, I thought your comment would be much nicer without that first sentence. Anyway... One thing that amazes me is that all the gold that's ever been mined, all the gold that exists on earth would fit into a cube 23 meters a side. For copper is 630 meters. I find that incredible. For silver 55 meters. Just fucking amazing!
- oldgradstudent 4y ago
  This is not a matter of perspective, it is a basic fact of markets. Market prices are quoted for small amounts. If you try to sell large amounts prices go down. If you try to sell a commodity in orders of magnitude greater that what currently exists in the world, the price drop to a tiny fraction of the quoted market price.
hombre_fatal 4y ago
Doesn’t really seem like a useful nitpick. The title raises provocative thoughts to me about who gets access to resources like this and how it will impact markets. Understanding how markets work doesn’t change that. And this is also how we talk about worth in general. Saying someone is worth $20 billion doesn’t mean they can cash it in tomorrow.

graderjs 4y ago

Heey that's not very nice. I don't understand all this inflation stuff, but I don't think it's incorrect or misleading to say, at current prices (or 2020 prices), that giant metal space rock will be worth 70,000 times the world GDP. I mean, that's actually really fucking smart, to put it into perspective, make it concrete in a way that people can go, oh wow that must be a fucking big rock. It's just a different side to it. And you're sharing a side as well. It doesn't mean it has to be "stupid" ( > Who writes these idiotic headlines. ) just because it's different to your perspective on it. Maybe you feel good to say that, but it's just abusive really, because you're puffing yourself up by shitting on someone else's view. But you can have both views, really. Anyway, I thought your comment would be much nicer without that first sentence. Anyway... One thing that amazes me is that all the gold that's ever been mined, all the gold that exists on earth would fit into a cube 23 meters a side. For copper is 630 meters. I find that incredible. For silver 55 meters. Just fucking amazing!

oldgradstudent 4y ago
This is not a matter of perspective, it is a basic fact of markets. Market prices are quoted for small amounts. If you try to sell large amounts prices go down. If you try to sell a commodity in orders of magnitude greater that what currently exists in the world, the price drop to a tiny fraction of the quoted market price.

hombre_fatal 4y ago

Doesn’t really seem like a useful nitpick. The title raises provocative thoughts to me about who gets access to resources like this and how it will impact markets. Understanding how markets work doesn’t change that. And this is also how we talk about worth in general. Saying someone is worth $20 billion doesn’t mean they can cash it in tomorrow.