If one brings enough metal to make prices drop, it will kill competition. Then just set price low enough to prevent anyone to start and enjoy your monopoly until next asteroid miner drops a cargo.
Why do people keep using the same old argument about price scarcity? The mining operation doesn’t become unprofitable because you magically pop out 5 trillion tons of platinum. You still have cost attached to acquiring said asteroid and the mining operation itself. The price won’t be set by earth mined mineral anymore, and that’s the goal. Whatever the cost to mine the asteroid and bring it back has to be competitive with earth mined mineral; that part doesn’t change whether you’re getting it from space or opening up a new mine. Once you’ve have a mining operation up and running, the profit comes from the difference between operating cost and the price people are willing to pay for said mineral. The reason is why it’s not economically viable is because the cost and technology requirement is too high. Not because scarcity induced price drop. Aluminum used to be the most expensive metal on earth until people found mines and processes to make it economically affordable. No one betted against acquiring aluminum because it would cause a price drop. The only industry that would affect because of the drop in scarcity is jewelry since people desire scarcity. I’m sure they’ll move on to other exotic material/processes, and obviously I’m less inclined to care about what makes them money.
Find a way to build it when you’re a grown-up, you could help pay off the national debt and help every single person in America prosper and revitalize the American dream.
So once the metals are melted by the mirror array, where does the liquid metal flow to? Up? Down? How is it captured? Purified? Returned? The value of a rock is nonsense when you do not consider the cost to work with it. What is the net profit?
i think the point is that mining asteroid is profitable because of the resource price, but mining asteroids would flood the market trasforming a super rare resource into a common one, making it worth noting, that would make the asteroid mining unprofitable.
The demand for these metals will keep the price high. Look at gold mining, currently. More gold is mined, more than ever in our existence. Better equipment produces big yields. Price of gold is pretty high, and even if we started adding metric tons to this, the price will never go back to $350 a troy ounce like it was just 16 years ago.
But what happens to the pebbles ? Pebbles would be everywhere.. causing more space junk. Wouldn't that be dangerous for space station, It be like a bullet in space.
We need to realize that any mass ejected from earth lightens earth's mass, and vice versa. We need to THINK. At 1:25 he admits the more "green" we get, the more we destroy earth.
I think the solution with mining is to have the asteroid of our choice orbit around the sun, close enough to melt. Maybe a series of close detonation can help the asteroid make its way toward the sun, hopefully we can measure what speed and what angle it should approach the sun, in order to get it close enough to melt it thoroughly, if timed right we can have it get close enough to earth to orbit earth.
Can't believe you can get a degree in space mining. Seriously don't want to pay down those student loans on a degree that will yield employment 40 years from now. Maybe.
Imagine a distant future where space colonization is made illegal by the forces of Earth because all the mineral resources of the near earth asteroids have been depleted and the scarcity threatens earths infrastructure.
Just short the stocks of current mining companies and start mining asteroids. You wont get direct profit from asteroids, but will gain from the short sells.
I think Elon musk will still pursue it. Yes prices would crash but having that many times more the amount on earth pretty much gives that company control over that material , until of course more companies start mining. I think backwards inflation might actually be a good thing and hopefully there is a good point where money value stays , instead of the crazy inflation were seeing today
And so we come to the failure of modern economics it would be best for the world it could take 10 years (time it now takes to setup new mines already) BUT we won’t do it coz there’s no killer profit for “the investors” who now don’t pay for the”externalities” of current production methodologies. Ergo if you properly “Price” the true cost of climate change and environmental degradation thereby you change the decision equation. So the industrial revolution made everything cheaper BUT if we make expensive minerals cheaper traditional investors who profit now from scarcity somebody loose their shirt BUT the rest of us and whole economies and industries rise due to cheaper availability - Economy of Scales kick in changing the production equation sense the private marketplace doesn’t. What were the cloth and spice traders of Spain Portugal Venice and Genoa gone for years reckless dangerous unknown but coming back revolutionising their economies
Never thought i'd stayed to watch an ad about space
Best ad on UA-cam I’ve stayed to watch
An ad?
Brilliant video ! Thank you for the interesting content ❤️
I guess this is one of those ideas which can pose a great threat to the pockets of the big guns.
Legend - keep the videos up
Yeah soon you'll be as famous as great big story
Nice
I just got this as an ad and I stayed for the scientific content~
If one brings enough metal to make prices drop, it will kill competition. Then just set price low enough to prevent anyone to start and enjoy your monopoly until next asteroid miner drops a cargo.
Interesting video - space mining certainly raises many questions and have had recent discussions on this topic!
Why do people keep using the same old argument about price scarcity? The mining operation doesn’t become unprofitable because you magically pop out 5 trillion tons of platinum. You still have cost attached to acquiring said asteroid and the mining operation itself. The price won’t be set by earth mined mineral anymore, and that’s the goal. Whatever the cost to mine the asteroid and bring it back has to be competitive with earth mined mineral; that part doesn’t change whether you’re getting it from space or opening up a new mine. Once you’ve have a mining operation up and running, the profit comes from the difference between operating cost and the price people are willing to pay for said mineral. The reason is why it’s not economically viable is because the cost and technology requirement is too high. Not because scarcity induced price drop. Aluminum used to be the most expensive metal on earth until people found mines and processes to make it economically affordable. No one betted against acquiring aluminum because it would cause a price drop. The only industry that would affect because of the drop in scarcity is jewelry since people desire scarcity. I’m sure they’ll move on to other exotic material/processes, and obviously I’m less inclined to care about what makes them money.
Molto interessante!
Im probably the only kid sitting on my couch drawing an asteroid mining machine blueprint.
Find a way to build it when you’re a grown-up, you could help pay off the national debt and help every single person in America prosper and revitalize the American dream.
Absolutely love this video, very easy to understand yet informative! Great work!
Video molto interessante e anche molto simpatico!
Where do I apply for asteroid mining employment? I want my assignment to be in outer space please.
At least that way a big part of the mining on Earth will become obsolete,that'll be great for nature
So once the metals are melted by the mirror array, where does the liquid metal flow to? Up? Down? How is it captured? Purified? Returned?
The value of a rock is nonsense when you do not consider the cost to work with it. What is the net profit?
i think the point is that mining asteroid is profitable because of the resource price, but mining asteroids would flood the market trasforming a super rare resource into a common one, making it worth noting, that would make the asteroid mining unprofitable.
The demand for these metals will keep the price high. Look at gold mining, currently.
More gold is mined, more than ever in our existence. Better equipment produces big yields. Price of gold is pretty high, and even if we started adding metric tons to this, the price will never go back to $350 a troy ounce like it was just 16 years ago.
But what happens to the pebbles ? Pebbles would be everywhere.. causing more space junk. Wouldn't that be dangerous for space station, It be like a bullet in space.
I guess they never thought of that( even I didn't think of it) but it can be dumped on the moon
We need to realize that any mass ejected from earth lightens earth's mass, and vice versa. We need to THINK. At 1:25 he admits the more "green" we get, the more we destroy earth.
Soothing french accent
I'm actually Italian :) But thanks!
I think the solution with mining is to have the asteroid of our choice orbit around the sun, close enough to melt. Maybe a series of close detonation can help the asteroid make its way toward the sun, hopefully we can measure what speed and what angle it should approach the sun, in order to get it close enough to melt it thoroughly, if timed right we can have it get close enough to earth to orbit earth.
👏🏼👏🏼👏🏼 amazing , hope billioners should take that chance to finally leave earth in peace
This is a really great video, very well made
What piano song is that?
+ u can pump all the excessive co2 u want out there cuz its outerspace anyway
9:27 including farming
Human greed knows no boundaries 😭😭
im excited!
I just remember when Seeley brought it up on Bones
i love this channel lot❤❤❤❤❤❤❤❤❤❤❤❤
Can't believe you can get a degree in space mining. Seriously don't want to pay down those student loans on a degree that will yield employment 40 years from now. Maybe.
Imagine a distant future where space colonization is made illegal by the forces of Earth because all the mineral resources of the near earth asteroids have been depleted and the scarcity threatens earths infrastructure.
If America could do this, we could pay off the national debt.
Just short the stocks of current mining companies and start mining asteroids. You wont get direct profit from asteroids, but will gain from the short sells.
I like a waterplasmagun medium size with a airballoon
I watched this in an ad
I think Elon musk will still pursue it. Yes prices would crash but having that many times more the amount on earth pretty much gives that company control over that material , until of course more companies start mining. I think backwards inflation might actually be a good thing and hopefully there is a good point where money value stays , instead of the crazy inflation were seeing today
It's all interlinked and a complex topic to unpack. The question still remains if mining can be done sustainably?
That bit at the end is what I cannot stand -People obsessed with utopia/
And so we come to the failure of modern economics it would be best for the world it could take 10 years (time it now takes to setup new mines already) BUT we won’t do it coz there’s no killer profit for “the investors” who now don’t pay for the”externalities” of current production methodologies. Ergo if you properly “Price” the true cost of climate change and environmental degradation thereby you change the decision equation. So the industrial revolution made everything cheaper BUT if we make expensive minerals cheaper traditional investors who profit now from scarcity somebody loose their shirt BUT the rest of us and whole economies and industries rise due to cheaper availability - Economy of Scales
kick in changing the production equation sense the private marketplace doesn’t. What were the cloth and spice traders of Spain Portugal Venice and Genoa gone for years reckless dangerous unknown but coming back revolutionising their economies
You could even mine water.
Why can't we bring small asteroids down to earth??
Lucy sky diamonds nothing to with lsd at all 😂
Khajit want space coltan yeeees?
It's too bad there was no information about how the mined materials are to re-enter the atmosphere.
*Invest in Galactic Industries*
*投资银河产业*
*Tóuzī yínhé chǎnyè*
*गेलेक्टिक इंडस्ट्रीज में निवेश करें*
*gelektik indastreej mein nivesh karen*
*Invertir en Industrias Galácticas*
*Investir dans les industries galactiques*
i love this channel lot❤❤❤❤❤❤❤❤❤❤❤❤
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