2 ms·
I do wonder about that valuation, though. Unless they only manage to extract the value so slowly it doesn't flood the market, wouldn't the "precious" medals jus
by smeej 3y ago
I do wonder about that valuation, though. Unless they only manage to extract the value so slowly it doesn't flood the market, wouldn't the "precious" medals just become less precious? At least the ones where the value largely comes from scarcity?
This example has nothing to do with this specific asteroid, but it makes the general point: If the amount of gold available doubles over 50 years, the market could probably handle it. But if it goes up 2x per year for 50 years? The price craters.
- wait_a_minute 3y agoYes the prices would plummet but that means wealth per capita increases in real terms. Producing the goods and services that depend on those cheaper commodities will become much cheaper. If we get to a world where everything of value today costs $1 to produce tomorrow, that’s a much wealthier (non zero sum) world.