Monday, August 9, 2021

Asteroid Dreams

Here is a puff piece about asteroid mining:

https://www.jpost.com/health-science/what-is-a-10000-quadrillion-asteroid-the-size-of-cyprus-really-made-of-676243

But what would such an asteroid actually be worth? The laws of supply and demand suggest that dumping such a huge amount of ANY material on global markets would reduce its value per pound to near nothing. Another way to express this is that such mining would totally redefine the concept of market value.

By the way, the retrieval of this asteroid and its mining, smelting, and material distribution now can all be done remotely and/or by robots/AI (and probably will). So whatever value it does have will benefit mainly the ultra rich who will control all the involved processes. The only role We the People will play is as consumers of the metals, that is if we can afford them at all.

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