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Unless like diamonds you limit their availability to actively prop up the prices. A contrary opinion would be that Gold isn't exactly scare on this planet and

Unless like diamonds you limit their availability to actively prop up the prices. A contrary opinion would be that Gold isn't exactly scare on this planet and we keep mining more of it and it isn't exactly cheap. As of this writing it the spot price is $1,922.40 USD.

chongli 4y ago
The asteroid is loaded with nickel and iron. I don’t think you could play the de Beers game with those metals. If you limited supply then people would just carry on like we do now.
- maerF0x0 4y ago
  Why not? capture the asteroid. Put it in a secure compound, release 1/100th the minerals per year for 100 yrs as a form of multigenerational wealth for the families that own it? Or if you disagree with the fraction consider a different fraction like 1000th, 10000th etc... At some point it could both make someone extremely wealthy and not immediately destroy the price (as supply increases and the price decreases, we'll also find new uses like nickel based paper towels or studs for homes) Edit: ok joke's on me that I missed some important details like diameter and velocity. But the general point applies -- meter the release into the market to not completely saturate the market or depreciate the value.
  - arcticbull 4y ago
    I mean at that point it’s just going to get taken from you lol
  - time0ut 4y ago
    Until the board/investors demand revenue increases...
  - withinboredom 4y ago
    "capture the asteroid" ohhh, you meant I should have stopped it from entering Earth's atmosphere at 0.1c?
  - chongli 4y ago
    Secure compound? Good luck with that. The asteroid is 140 miles in diameter. For comparison, the asteroid that wiped out the dinosaurs was less than 10 miles in diameter. There’s no way you could bring the entire thing down to Earth without causing another extinction event. You’d have to keep it in orbit and at that point it’s anybody’s game.
  - z3t4 4y ago
    How can you own an Asteroid though? You land a probe on it you own it?
DubiousPusher 4y ago
> isn't exactly scare on this planet The amount of gold mined in all of human history is about 205,000 tons. Compare this to about 2,000,000,000 tons of steel produced each year.
- TomK32 4y ago
  Just wondering, how much of that steel is recycled?
  - DubiousPusher 4y ago
    While a high percentage of steel waste is recycled 60-70%, this amounts to than 5% of gross production. It is more complicated than this because the 2 billion tons is for crude steel. Recycled steel is probably generally being used in more refined steel products wherein it likely makes up a much higher percentage.

chongli 4y ago

The asteroid is loaded with nickel and iron. I don’t think you could play the de Beers game with those metals. If you limited supply then people would just carry on like we do now.

maerF0x0 4y ago
Why not? capture the asteroid. Put it in a secure compound, release 1/100th the minerals per year for 100 yrs as a form of multigenerational wealth for the families that own it? Or if you disagree with the fraction consider a different fraction like 1000th, 10000th etc... At some point it could both make someone extremely wealthy and not immediately destroy the price (as supply increases and the price decreases, we'll also find new uses like nickel based paper towels or studs for homes) Edit: ok joke's on me that I missed some important details like diameter and velocity. But the general point applies -- meter the release into the market to not completely saturate the market or depreciate the value.
- arcticbull 4y ago
  I mean at that point it’s just going to get taken from you lol
- time0ut 4y ago
  Until the board/investors demand revenue increases...
- withinboredom 4y ago
  "capture the asteroid" ohhh, you meant I should have stopped it from entering Earth's atmosphere at 0.1c?
- chongli 4y ago
  Secure compound? Good luck with that. The asteroid is 140 miles in diameter. For comparison, the asteroid that wiped out the dinosaurs was less than 10 miles in diameter. There’s no way you could bring the entire thing down to Earth without causing another extinction event. You’d have to keep it in orbit and at that point it’s anybody’s game.
- z3t4 4y ago
  How can you own an Asteroid though? You land a probe on it you own it?

DubiousPusher 4y ago

> isn't exactly scare on this planet The amount of gold mined in all of human history is about 205,000 tons. Compare this to about 2,000,000,000 tons of steel produced each year.

TomK32 4y ago
Just wondering, how much of that steel is recycled?
- DubiousPusher 4y ago
  While a high percentage of steel waste is recycled 60-70%, this amounts to than 5% of gross production. It is more complicated than this because the 2 billion tons is for crude steel. Recycled steel is probably generally being used in more refined steel products wherein it likely makes up a much higher percentage.