• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

Psyche-16 The Gold Asteroid

Bottom Feeder

Hypophthalmichthys molitrix
Midas Member
Midas Supporter ++
Joined
Mar 31, 2010
Messages
11,863
Likes
23,230
Location
Plague world — still
#1
An asteroid worth $700 quintillion in precious heavy metals.
RT

If anything launches the metals mining space race, it will be this asteroid - Psyche 16, taking up residence between Mars and Jupiter and carrying around enough heavy metals to net every single person on the planet close to a trillion dollars. Nor is the Psyche-16 Asteroid the only thing of interest in the Belt. Another small asteroid measuring 200 meters in length could be worth $30 billion in platinum.

Can we actually extract this space gold? It all depends on two key things: Economic feasibility and our advancement of space technology. There is already a global market for asteroid mining, and Allied Market Research estimates that it will top $3.8 billion by 2025.

China has vowed to dominate this race, and that’s an easier game for a country that controls all the major natural resource companies and maintains a tight leash on tech developers. That’s not to say that the US doesn’t have ambitions here. The difference, though, is stark. While NASA is focused on space exploration and scientific missions, China is focused on a space-based economy that is zeroing in on long-term wealth generation.


Of course we all know what will happen to the value of gold once the bring this rock back to Earth.
I might just buy me a set of solid gold goblets for drinking my merlot.

BF
 

Buck

Come On, Man!
Midas Member
Site Supporter ++
Joined
Apr 13, 2011
Messages
15,313
Likes
17,474
#2
Discovered in 1852
Spoken about in 2019

I've never heard about it before so, I'll suspect few know anything about it either




Why Now?
 

ZZZZZ

Platinum Bling
Platinum Bling
Site Supporter ++
Joined
Dec 23, 2017
Messages
6,403
Likes
13,941
Location
Northern Arizona
#3
Problem is, it will cost $1,000,000 an ounce to mine it and get it back to earth.
.
.