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RE: TIL Space Mining is Now Legal and Google has financed a Business for it!
I would love to put some money into a blockchain based company that would pursue this. I never liked traditional investment models - too many rules and too much bureaucracy. I'm surprised nobody has done this yet with a blockchain based token.
That'd be a great idea! I'm with ya, surprised that it's not already been started...who wouldn't want a space or 'warp' coin! Lol. My one big concern is that they don't accidentally run an asteroid into the earth (or moon,) but there is no doubt there is money to be made out there. I'm still very curious how the international community will react once they see dollars actually hitting bank accounts from it.
It's hard to say. It is possible that if there is a sudden influx of rare earth metals (which I suspect will be the first minerals that are pursued) it could result in a crash in the price of those metals. One the other hand right now it could be argued that new technologies are in part being held back by the lack of supply so it might just balance out and accelerate progress too.
Very true! That's more of what I foresee being sought after too, the rare earth metals. I've heard a ton over the last 10 years on how China controls like 80% of all those resources and been buying more up in Africa (building infrastructure in return.)
If they suddenly mined trillions in platinum (or gold) that could cause some 'interesting havoc' on the economic ends of things.
Yes initially I think a fall in price (if not a crash) is very likely but I think long term it will balance out for sure.
A large quantity of such metals would open up all sorts of technologies that are being held back right now. To be honest it is hard to know the full impact. It's not just about electronics either.
Platinum itself has a lot of applications in industrial chemistry I think too, also it has certain properties that make it useful in medical applications.
We might see the initial fall ollowed by an increased demand as a result of this sort of thing. It is definitely exciting and I would love to have some kind of "finger in that pie" to use an old colloquialism. I suspect it will make a lot of people rich.
In my childish mind it is my dream that if I ever make it to being a billionaire I will spend the rest of my life trying to eradicate preventable diseases like waterborne viruses that aren't glamorous but kill about 3.4 million people every year.
One can always dream of changing the world I suppose:)