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Astroid 16 Phsyche - Worth? $10,000 quadrillion!
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<p>[QUOTE="Parthicus, post: 5382742, member: 81887"]I see two problems with this valuation:</p><p><br /></p><p>1. Metals (or any other commodity) are only worth something if you can get to them and move them to where you will use them. Spaceflight is enormously expensive, and even if Elon Musk or someone else manages to reduce the cost substantially, it's still going to be a difficult and dangerous endeavor.</p><p><br /></p><p>2. If that much metal suddenly entered the economy, the value would crash, for obvious supply-and-demand reasons.</p><p><br /></p><p>There are already mind-bogglingly enormous quantities of metals right here on Earth, but buried so deep that there's no way we can get to it. This asteroid is interesting scientifically, and may be worth sending a probe to visit, but I wouldn't get your hopes up for economically-viable asteroid mining just yet.[/QUOTE]</p><p><br /></p>
[QUOTE="Parthicus, post: 5382742, member: 81887"]I see two problems with this valuation: 1. Metals (or any other commodity) are only worth something if you can get to them and move them to where you will use them. Spaceflight is enormously expensive, and even if Elon Musk or someone else manages to reduce the cost substantially, it's still going to be a difficult and dangerous endeavor. 2. If that much metal suddenly entered the economy, the value would crash, for obvious supply-and-demand reasons. There are already mind-bogglingly enormous quantities of metals right here on Earth, but buried so deep that there's no way we can get to it. This asteroid is interesting scientifically, and may be worth sending a probe to visit, but I wouldn't get your hopes up for economically-viable asteroid mining just yet.[/QUOTE]
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Astroid 16 Phsyche - Worth? $10,000 quadrillion!
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