I write about Economics & Politics and sometimes I post pictures of things I like. Find me elsewhere on the intrenet:
twitter.com/Suga_Shane
LarryBrownSports.com
NBAOffseason.com
NFLoffseason.com
MLBOffseason.com
gunsgeargallantry.tumblr.com/
People who like the gold standard, how do you feel about asteroid mining? What happens when we bring 100,000 tons of gold and silver back from a space rock? What if we just bring 1,000 tons? Does this ruin the scarcity argument?
Serious questions.
Ahahah I was JUST talking about this yesterday. It wouldn’t happen that they “just bring back 100,000 tons” of processed ore.
Suppose commercial asteroid mining DOES take off (lol) in the next few decades. How many companies and distinct crews do you think will actually be among the first wave of space prospectors? Honestly even today a space shuttle launch is still “a big deal” - the average citizen is still a little a mystified over what is perceived to be a relatively momentous occasion; space travel hasn’t become much of a way of life yet. Most of our launch-related action has to do with unmanned satellites, and even our manned crews still orbit the planet.
So my guess is that the first extraplanetary flights will also be lauded as a pretty big deal, especially if they’re done commercially (i.e., privately). I’d go so far as to say that the crews would even be seen as celebrities, having their fame in the media before the “fateful” journey to find new worlds (asteroids) ripe for the picking. The journey would take months, if not years, and don’t forget they’re still only strapped to an explosive propulsion system hurling them through space toward a destination of nothing but massive rocks - better hope they stick the landing!
I think you addressed it with the second point, “what if we just bring 1,000” tons? I think this would be the more likely scenario. The first (possibly only) commercial crew finally returns home safely and with cargo. I don’t think anyone is coming back with a massive heap of gold. But it could play out in so many different ways;
First we could see another ‘49 Gold Rush - the tiny specks of gold found in the initial cargo (even 100 tons) would be enough, I think, to provide incentive to the rest of the private space industry. Companies which previously manufacture launching rockets might consider expanding into the manned-flight sector (I am literally talking out of my ass because I why wouldn’t these industries be merged to begin with, I am just trying to illustrate a picture of industrial expansion, really). New companies would form up; seeing this gold - everyone would want a piece of what’s out there. You’d see it all over the media, stargazers and dreamy-eyed prospectors and entrepreneurs … everyone would want to go to the asteroid belt. The wealth coming back would trickle down immensely, as the booming space-faring industry would be competing to create the best, fastest, most efficient cargo and mining vessels. Leaps and bounds made in science and technology just to fuel the passion for gold.
Of course…the other thing which might happen: the Spanish Empire experienced similar circumstances when they visited the Americas. They were bringing back so much gold that they eventually destroyed their economy. It’s possible that we could see the same here. But as you already pointed out it’s definitely going to hinge on: how much and over how long. Bringing back the wealth won’t be a problem, creating wealth never is. But concentration of all that wealth invariably leads to economic disaster through devaluation. I’m excited though; I don’t think we’d see a Spanish collapse. I think the rise of the space-faring industry would create such an economic boom world-wide, that humanity would enter into a new Golden Age of wealth and prosperity. Like the industrial revolution with modern medicine times 100.
I think my overall point is that it’s stupid to think that gold is ultra-scarce or that it can’t be debased or is safe from supply inflation and value loss.
To address your other points, I think the main focus will be on bringing the rock into our orbit and leaving it there so it will be only a day or two away from Earth and smaller quantities would be mined and then that particular asteroid would be released once it’s been exhausted and we’ll wait for the next one.
Here’s a decent interview with Neil deGrasse Tyson and Peter Diamandis (X-Prize and http://www.planetaryresources.com/) on Asteroid mining. They discuss the science and even the economics of such endeavors.
Click: http://www.startalkradio.net/show/eureka-asteroid-mining/
Personally, I don’t care what our money is made, so long as it’s safe from debasement and functions as a global facilitator of trade.
People who like the gold standard, how do you feel about asteroid mining? What happens when we bring 100,000 tons of gold and silver back from a space rock? What if we just bring 1,000 tons? Does this ruin the scarcity argument?
Serious questions.
Neil deGrasse Tyson on The Joe Rogan Experience.
This was pretty great. Joe and Neil spent two and a half hours talking about everything from conspiracies, debunking moon hoax theories, global warming, end of the world myths, asteroid mining, the matrix code, evolution, Martian origins of human life, Planet X, the Cold War with Russia, death by black hole and much, much more.
This is really one of my favorite podcasts in a long time.
(Sen) - Deep Space Industries (DSI) has announced its plans to mine asteroids for metals and other materials. The company set out its vision to use mined resources to improve and enrich life on Earth and to further the human exploration of space.
The venture plans to use mined resources to construct large communications platforms to replace communications satellites, and solar power stations to beam carbon-free energy to consumers on Earth within ten years. It will also harvest platinum group metals for use on Earth.
The world’s first fleet of commercial asteroid-prospecting cubesat spacecraft will hitch rides on the launches of larger spacecraft to keep costs down.
“FireFly spacecraft will have a mass of about 55 pounds (25 kilograms) and will first be launched in 2015 on journeys of two to six months. DSI will be building a small fleet of the spacecraft using innovative miniature technologies, and working with NASA and other companies and groups to identify targets of opportunity.” said Rick Tumlinson, DSI Chairman.
In 2016 DSI will launch its larger 70lb DragonFly robotic spacecraft on two to four year, round-trip expeditions. These robots will return 60 to 150 lbs of samples to determine mining targets. Other samples, with their original in-space composition and structure preserved, will be rare specimens that can be sold to the research and collectors market. By combining science, prospecting and sponsorship DSI hopes to lower costs for exploration and engage the public.
“The public will participate in FireFly and DragonFly missions via live feeds from Mission Control, online courses in asteroid mining sponsored by corporate marketers, and other innovative ways to open the doors wide,” said CEO David Gump.
None of the processes needed are hard, according to the management, who consider the basic technology is available and just needs adapting to work in microgravity. They make the point that even new technology that may be needed will not depend on fundamentally new physics.
A key compomponent of DSI’s plans is their patent-pending “MicroGravity Foundry”, a 3D printer to transform raw asteroid material into complex metal parts or even recycle old nickel parts into new components.
“The MicroGravity Foundry is the first 3D printer that creates high-density high-strength metal components even in zero gravity” said Stephen Covey, a co-Founder of DSI and inventor of the process.
DSI’s Microgravity Foundry. Image credit: DSI
They hope to make crewed Mars expeditions less expensive by refuelling in space using asteroid-derived propellant, made by extracting asteroid water and splitting it into its constituent hydrogen and oxygen.
Of the 9,500 or so Near Earth Asteroids curently known, about 850 are bigger than 1 km, and about 1,700 are easier to get to than landing on the Moon. They have a very diverse range of compositions.
This is the Deep Space mission – to find, harvest and process the resources of space to help save our civilization and support the expansion of humanity beyond the Earth.“Using resources harvested in space is the only way to afford permanent space development,” said Gump. “More than 900 new asteroids that pass near Earth are discovered every year.”
DSI estimates that virtually all recovered mass from asteroids will be of value. A large market for DSI will be producing fuel for communications satellites. Low-cost asteroid propellant delivered in orbit to commsats will extend their working lifetimes, with each extra month worth $5 million to $8 million per satellite.
“Mining asteroids for rare metals alone isn’t economical, but makes senses if you already are processing them for volatiles and bulk metals for in-space uses” said Mark Sonter, a member of the DSI Board of Directors.
“Turning asteroids into propellant and building materials damages no ecospheres since they are lifeless rocks left over from the formation of the solar system. Several hundred thousand that cross near Earth are available”
“We will only be visitors in space until we learn how to live off the land there” concluded Tumlinson. “This is the Deep Space mission – to find, harvest and process the resources of space to help save our civilization and support the expansion of humanity beyond the Earth.”
I was just listening to Joe Rogan and Neil deGrasse Tyson talk about this and a million other awesome things.
