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u/lemons_of_doubt 5h ago
Gold is a really useful metal, having it become dirt cheep would be really good.
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u/Outrageous-Weekend-6 4h ago
Imagine golden cables as standard
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u/Effective-Gas-9234 4h ago
Gold is less conductive than copper
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u/SecondOk4083 4h ago
Isn't gold's value for electronics more so in how inert it is while also being conductive?
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u/Reuarlb 4h ago edited 2h ago
It also doesnt rust
Why does no one get the joke
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u/RoutineCloud5993 3h ago
That's what inert means
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u/JBLurker 3h ago
The balls are inert.
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u/RaveMittens 3h ago
No, the balls store the rust
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u/TheAviBean 2h ago
My trans girlfriend just got her balls removed so I don’t know if she rusts anymore
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u/Tino_Kort 4h ago
Only iron rusts, but yes it's inert and doesn't oxidize.
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u/LightlyRoastedCoffee 2h ago
That's like saying "only iron produces iron oxide". Like yeah, no shit.
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u/WINDMILEYNO 2h ago
Just because copper turns green, doesn't mean I'm going to not call that rust.
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u/Pale-Acanthaceae-736 2h ago
Yes, gold is inert. I doesn't react with anything (but can be dissolved in a solution though).
It also blocks ultraviolet radiation.
It's good conductor of electricity.
It's malleable.
Now let's try to rationalize why people eons ago considered gold to be valuable despite them not having the technology to take advantage of its properties. It was worthless to them for trade because it had no practical value. A simple answer given by the ancient lore of these cultures was because their gods wanted it. It's not some kooky Ancient Aliens theory. It actually tracks.
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u/Superficial-Idiot 2h ago
The simple fact is and always was ‘see shiny thing, want shiny thing’
Which still holds true for jewellery.
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u/OldWorldDesign 2h ago
It's interesting to see what phases the fads go through, though. Diamonds were considered the lowest of the jewels once, with rubies being the most prized to any people with any contact with the Persians (they were also the most prized parts of the Peacock Throne).
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u/scalyblue 1h ago
Well diamonds got a boost from what is possibly the greatest advertising campaign in human history outside of religion
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u/Best_Wasabi_251 2h ago
The fact that it doesn't oxidize and can be easily melted and reformed probably helps.
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u/Effective-Gas-9234 3h ago
Idk man I’m just an electrician. If gold were the same price as copper we’d still install copper cable in most situations.
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u/ADHDebackle 4h ago
Aluminium is less conductive than copper AND gold but we still make wires out of it.
If copper was 100x more expensive than gold we'd probably be using gold wire in everything.
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u/Zebidee 2h ago
They stopped using aluminium for wiring in planes. It's lighter than copper, but aluminium has no minimum deformation before fatigue cracking, so if it's in anything that vibrates even a little bit, it will eventually crack.
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u/xenophon57 3h ago
It had to do with of course cost and also the tensile strength for spanning distances they just figured out it was worth the resistance loss vs having to pay more for copper and put in an absurd number of power poles up.
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u/barsoap 1h ago
Aluminium is more conductive than copper if you measure by weight instead of volume. Also, tensile strength.
Which is why buried cables are copper and overland wires steel/aluminium hybrids. Steel isn't atrocious when it comes to conductivity and provides extra ductility (aluminium is stiff AF and has no spring)
Aluminimum in house wiring was always a compromise born out of material shortage: As said getting buried is not where its strengths lie and you get the additional complication of oxidising contacts.
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u/ThisIsMyGeekAvatar 4h ago
This is true. Copper is a much better electrical conductor than gold, but gold is better for contacts or other applications exposed to the environment because it doesn’t oxidize.
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u/wireframed_kb 3h ago
AFAIK, silver is highest on conductivity scale - though it oxidizes so possibly at some point it gets overtalen perhaps.
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u/shotsallover 3h ago
Psssh. Clearly you’re not an audiophile.
I’d be selling pure gold cables to those folks all day long.
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u/Shawnessy 3h ago
It'd be like aluminum back in the day. Used to be extremely expensive and rare. Now it's used purely for its lightweight and anti-corrosion properties. Gold is super useful for anti-corrosion, conductivity, biocompatibility, etc. Having an essentially unlimited supply would be beyond valuable.
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u/Gecko99 2h ago
Aluminum was so rare because it was difficult to extract from ore until a better process was discovered and developed.
The Washington Monument is capped with an aluminum pyramid. This was the largest piece of aluminum on Earth at the time. It weighs 100 ounces, or 2.83 kilograms.
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u/InvestigatorLow3076 2h ago
Aluminium
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u/Gecko99 2h ago
That's the British English spelling, I'm using the North American English spelling because that's where I am from.
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u/Nuclear_rabbit 1h ago
Fun fact: Aluminium was originally the American spelling and Aluminum was the British spelling. IUPAC insisted metals needed to end in -ium, so Britain went with that. The Americans, being cordial with the British, adopted Aluminum.
The discoverer wanted it to be Alumium, after Alum.
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u/IgnantWisdom 3h ago
Too bad it wouldn’t become dirt cheap in this scenario. Someone would claim the asteroid, monopolize the gold trade and artificially inflate its value by controlling the supply so that only they got rich. Can’t have anything nice in a modern neo-liberal society.
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u/SecretaryOtherwise 3h ago
Welcome to diamonds lol
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u/lazyboi_tactical 3h ago
Debeers has entered the chat.
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u/False_Tea_3951 3h ago
Get them the fuck out
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u/RandAlThorOdinson 2h ago
I tried but all they did was throw a bunch of kids in the room
Like a reverse Epstein
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u/GreatMovesKeepItUp69 3h ago
Nah it could still be extremely cheap even within the monopoly pricing model if the supply is large enough. Monopoly pricing increases the amount of profit at the cost of economic efficiency, but they are still beholden to the laws of supply and demand in order to maximize profits.
Given the amount of economic turmoil it could cause to the broader economic system the government would almost certainly step in though with a trade deal or tarrifs to control the price and or quantity.
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u/Concatenatus 2h ago
The first person who, having enclosed a plot of land, took it into his head to say this is mine and found people simple enough to believe him, was the true founder of civil society. What crimes, wars, murders, what miseries and horrors would the human race have been spared, had someone pulled up the stakes or filled in the ditch and cried out to his fellow men: “Do not listen to this imposter. You are lost if you forget that the fruits of the earth belong to all and the earth to no one!
-- Rousseau
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u/MisoClean 4h ago edited 4h ago
Thank you! That was my first thought. So many devices could be made better if gold wasn’t expensive to get and in turn unreasonably expensive to buy for the masses.
I just AI’d what could be made better with gold and it seems solar panels would be made cheaper with this much gold and that would completely change the energy market and could bring about an age of energy production that would change the life of the globe.
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u/Nuts-And-Volts 3h ago
Its a moderately useful metal very small quantities are perfectly sufficient for most applications
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u/clintCamp 1h ago
Could you imagine all the gold foil we could wrap food in rather than aluminum foil?
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u/sharklaserguru 3h ago
Seriously, it's a goddamn travesty that so much of is it hoarded by the wealthy for the sole purpose of speculation. We're not in the dark ages any more, treat it like any other industrial good!
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u/Ok-Pay-1456 5h ago
Supply and demand, and scarcity are the 101 building blocks of economics, and yet understanding remains...scarce.
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u/playfulillusion 5h ago
Aluminum used to be worth more than gold until we found a cheap way to refine it. So if this happened there’d just be gold everywhere. You’d be wrapping your sandwiches in gold foil and have gold siding on your house.
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u/Iggyhopper 5h ago
Electronics might get cheaper to manufacture because they use gold.
It's metal and doesn't corrode per my cursory Googling.
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u/12thunder 4h ago edited 4h ago
Gold in such quantities could be revolutionary for electronics and technology as a whole. Lots of metals would be revolutionary. Iridium, palladium, basically any rare earth metals. Access to any of them in vast quantities could trigger technological jumps.
Worst case scenario is get the perfect opportunity for mining an asteroid… and it’s made of just carbon rock or ice or something not so useful like aluminum or iron. Its only real use case would be as a space station assuming we had the technology to change its orbit.
An asteroid made of water ice would just be begging for us to turn it into a base that is potentially self-sustaining. Grow crops, produce oxygen, produce fuel, cool down nuclear power production (or just use solar) that powers it all. Maybe not so useless after all…
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u/spektre 4h ago
Could probably mean a big deal for medicine like dentistry and prosthetics and other stuff too advanced for me to casually namedrop.
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u/donuthead36 4h ago
Yeah it being incredibly non-reactive has made it a go to for certain medical applications, while cost has made it impractical for a lot of said applications.
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u/MrsMiterSaw 3h ago
An asteroid made of water ice would solve one of the big problems we have for interplanetary travel: Propellant. We have to schlep that shit up into space to allow us to maneuver up there. If we had a source in orbit, we would not have to expend any energy to get more propellant up there. Conceivably we would then be able to use solar or nuclear power to accelerate that propellant to guide our craft. Much more efficient than bringing it up there from the ground.
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u/12thunder 3h ago edited 1h ago
Main justification for a lunar base. Access to water with low gravity for fuel.
Also helium-3 for fusion if we manage to get it working.
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u/Fishmongererererer 3h ago
Gold is also super useful because it barely corrodes at all.
We might just start coating stuff in gold
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u/davideogameman 4h ago edited 1h ago
And better! Iirc it's more conductive than copper. Just too expensive to use in significant amounts for most consumer usage.
(Edit: I was wrong, it's less conductive)
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u/beatles910 4h ago
Copper is superior, with roughly 30-40% higher conductivity than gold.
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u/Ok-Pay-1456 4h ago
I'm learning a lot more about metallurgical physics than expect, and I'm down for it
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u/FriendlyEngineer 4h ago
I think the real advantage to gold in an electrical sense is how finely it can be drawn down to make smaller and smaller connectors.
So, great for micro electronics but not so much for big transformer cables.
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u/dont-fear-thereefer 4h ago
Power lines could be made of a gold/copper blend would increase transmission efficiencies
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u/Ithinkibrokethis 5h ago
Mithril is basically Aluminum as understood by pre modern peoples. Light, durable, and able to be hardened. We think of it as common because its now easy to get.
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u/Smoovemammajamma 4h ago edited 33m ago
I dont know if a thin shirt of aluminum could stop a trolls boar spear
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u/Shot_Needleworker149 4h ago
I’ve been described as light, durable and also able to be hardened. Weird!
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u/Nostonica 4h ago
I mean, that would be great, we currently use plastic for food packaging because it's sanitary and mostly inert.
Gold is famously non reactive and can be safely consumed.
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u/gcruzatto 4h ago
Not if you own a monopoly over the extraction and get to control the supply precisely. It's the reason diamonds are still expensive
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u/silk-illusion 5h ago
I think the takeaway from the original comment is that the asteroid contains an awful lot of gold rather than we could all be rich.
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u/Ok-Pay-1456 5h ago
Sure, except that the response was added. It would be unnecessary to add in if it weren't the point of the post.
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u/Diabetesh 4h ago
Wrong it would make like 1 company incredibly rich as they copy the diamond industry method.
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u/corvusman 5h ago
Noobs. You need to set up a Psyche asteroid mining company Ltd and list it on NYSE. Issue digital gold backed orbital certificates - one token per future gram of gold. Make millions. Then start selling the gold delivery future contracts to hardware manufacturers and sovereign funds, with date range 2050-2060. Make billions.
Spend these money choking the earth gold mining industry, campaigning that it destroys the planet and orbital gold would be cheaper and more sustainable. Lobby the government contracts.
In parallel raise the capital to build your orbital mining & processing factory, secure it with the said contracts.
Build the factory, mine the gold, carefully throttling the gold flow to manipulate prices & market for the next 100 years, become Earths first quadrillionaire.
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u/slavelabor52 4h ago
Fun fact Psyche 16 is actually thought to be the core remnant of an early protoplanet or planetesimal that survived multiple collisions stripping it down to just an exposed core. It likely has a ton of heavy metals and rare Earth metals not just Gold.
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u/Draxilar 4h ago
Elon? Is that you?
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u/Patdelanoche 4h ago edited 3h ago
Not his M.O. At no point is the OC making a successful business buy out one of his failures.
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u/microbular 3h ago
De Beers will be sending you a cease and desist for disclosing internal work products and procedures.
You didn't fool anyone by just find and replacing the word "diamonds" for "gold".
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u/Location_Next 1h ago
This guy gets it. Who said the gold would belong to everybody? It would belong to whoever funded the recovery operation. In this economy that means “it’s enough gold to make one guy a $700 gazzillionaire..” while everybody else on the planet eats dirt.
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u/Sweety-Lifeguard 4h ago
i remember thinking the same thing about “just print more money” when i was younger and then realizing value is basically collective delusion with math, economics really humbles you fast 😭
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u/patrdesch 4h ago edited 13m ago
Value is somebody else wanting what you have enough to give you something of theirs in exchange for it. If everyone already has as much of [Thing A] as they want, nobody would be willing to give up anything to get more of [Thing A].
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u/swisspat 4h ago
I know you're a whole person but seeing OF models participating in non OF type things on the internet feels like seeing one of your high school teachers out in the wild
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u/Iskandar0570_X 3h ago
Real. I often imagine OF models as NPC’s or robots. Sometimes you forget that they are an actual person with hobbies and a personality
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u/TheFrev 3h ago
To be honest, and I realize I am outing myself for looking it up, but I'm pretty sure both Sweety-Lifeguard and patrdesch are bots. So the NPC and robot comment seems pretty on the nose. Also, man, does the dead internet theory keep getting stronger.
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u/Milk_Specific 5h ago
Great, so we now have billions of dollars, but our rent is 1.5 billion a month now
Or the more likely scenario: all that money goes straight to the mining company owners and ceo’s and shit goes down to everyday people
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u/83supra 5h ago
See, to me, it seems like your pointing out an inherent flaw in our society that supports a parasitic ownership class that will always enjoy a position of power over the laborer.
My question is, why the fuck can't we do something to change this horseshit?
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u/WankaBanka9 5h ago
Because labor on its own is fairly commoditized and low value. Highly skilled or specialized labor is well paid, but requires a lot of capital to facilitate (see a surgeon working in a hospital… lot of extremely expensive equipment there).
If you want the benefit of these minerals then start building your space ship an go get them
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u/hierarch17 4h ago
Labor is the basis of all value. Those machines and building were built by labor, with materials refined by labor.
All capital is just past labor. Society could absolutely be run without capital.
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u/Ricochet_skin 4h ago
The value is defined by whatever the fuck the consumer is willing to pay and the costs of creating the product, not labor.
But keep gassing up a failed economic system that killed more than 100 million people in less than 100 years I guess.
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u/LogicalFan 4h ago
Also if we got all that it would go to like 2-3 people (untaxed) and the rest of us wouldn’t get anything.
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u/CypherSaezel 5h ago
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u/FaiithHopeU 4h ago
I heard the US is in talks with the asteroid. It has no money, no anything right now, so we might just do a friendly takeover.
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u/AStoryForOne 2h ago
Obviously it the whole 'make everyone billionaires' was being used as an example to rationalize how much gold it was to the average person. The guy who responded comes off as a dumbass trying to be smart. "Um ackshually.." like dude, go fuck yourself, you're not being clever we all know that it would be devalued if that much suddenly entered the market or world at large.
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u/Ursus_Arctos-42 3h ago
Yeah, it would drop the value of gold, but imagine how useful that gold would be as a material.
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u/Mitheral 1h ago
Gold fishing weights. Gold Buckshot. Gold sheet roofs. Basically 80% of the stuff we've used lead for could be done with gold without all the brain damage that goes along with lead.
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u/ProjectNo4090 5h ago
Id be fine with gold being worthless. We need to be moving to a post scarcity society as fast as we can and building an economy that functions in a post scarcity society.
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u/nwbrown 5h ago
There is far more gold buried in the Earth.
The gold in this asteroid is also buried except it's buried in mostly solid iron and in an environment where it is crazy expensive to bring mining tools and very difficult too cool them.
They aren't just lying around as gold bars.
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u/superhamsniper 4h ago
Logically it would allow us to more easily make things requiring gold, thats if we think of humanity as a collevtive, something that will never happen because of greed, hate, and ignorance.
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u/PmeadePmeade 4h ago
Nah it just makes gold worthless; we’re not on the gold standard anyway so go for it
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u/Warbot_Titan 5h ago
if there was a way to mine that gold and deliver it to earth cheaper than buying gold here, someone would have already done that, so no, it's not "free gold", it's actually pretty damn expensive gold, so expensive no one will get it
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u/brooksy54321 5h ago
Someone or something will get it someday. It doesn't need to come back to earth.
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u/modsaretoddlers 35m ago
He's absolutely correct but even if the caption were correct, does anybody honestly believe that that rock would be used for the betterment of all of humanity, anyway? I mean, look at diamonds. Until the 1930s, they couldn't give them away. Then some asshole in the DeBeers family figured out that if they had a monopoly, they could just make the prices higher and, to top it off, they found a way to make people want the damned things in the first place.
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u/ebolatone 5h ago
Remember when the USA wanted to invade Iraq for oil and said it'd lower gas prices? LOL
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u/Loud-Firefighter-342 4h ago
Yeah that's not an actual thing that happened in real life. Nobody went to war FOR oil. Saddam jacked up the prices for U.S. allies in Europe, so we formed a Coalition OVER oil. Specifically the price, not the physical ownership of said oil. Oil prices gave us (All of the West) political/economic Casus Belli. 9/11 gave us (U.SA.) a social/ideological one, that allowed us to justify taking the lead on a Coalition invasion. Neither justified outright larceny of foreign resources. What we did was wrong, no mistake. But the idea that we were loading up trucks with barrels of oil and hauling em back to America like Pirate booty is just ridiculous. One thing nobody in a position of power ever did was promise to invade in order to take the oil and give it to Americans so we could lower our price at the pump.
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u/IzarkKiaTarj 1h ago
But the idea that we were loading up trucks with barrels of oil and hauling em back to America like Pirate booty is just ridiculous.
Well, duh. For one thing, they can't drive across the ocean.
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u/radiotsar 4h ago
There are approximately 20 M tons of gold in the oceans, the problem is extracting it is not cost effective (yet).
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u/Atomic-Avocado 4h ago
We could have gold rebar and it would transform buildings and bridges
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u/DerGyrosPitaFan 3h ago
No, not only is gold's tensile strength FAR worse than that of steel but also one reason why steel rebar and concrete mix well together is that their thermal expansion coefficients are rather close, and while gold isn't too far off, gold's coefficient is still more different to concrete's than steel's is.
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u/SuchBravado 1h ago
And we’d probably all die by one of our stupid-ass billionaires trying to lasso it down to Earth so he can finally reenact Ducktales. Woohoo.
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u/8yba8sgq 5h ago
If we are going to tether an asteroid and bring it to earth, can we have it hit the US? Thanks
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u/Leather-Arachnid-417 5h ago
Thats what I can't seem to make people understand. For billionaires to win, someone has to lose. There has to be a bottom level. There literally has to be people living shitty for the system to function. You just dont want it to be you. Its dog eat dog man. People refuse to see it.
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u/binkysnightmare 4h ago
Then you get replies to this (correct) statement that you should work harder, smarter, “they deserve it because their wealth provides jobs” etc. ad Infinitum. There are countless quips when you point this out but somehow zero that address the simple fact that extreme wealth concentration necessitates exploitation.
The literal only counter argument anyone puts forth is “skill issue” and it’s never from a Big Dog. It’s some broke fucker like us that for whatever reason decides to throw their dignity out to go to bat for a system that’s fucked near everyone they know for their entire life
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u/DopamineSavant 5h ago
All the gold would be hoarded by the 1% and they would sell it back and forth between each other to maintain the value.
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u/MaeMae061212 5h ago
If we were to mine the gold, it would probably just go to rich people anyways. While it would lower the value of it, I don’t know by how much. I would imagine gold would become popular in buildings.
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u/Soggy-bread-ou812 5h ago
No! Some billionaire would keep the whole thing for himself and watch everyone else starve.
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u/No_Communication5538 5h ago
The real thing here is that thing is clearly a Death Star, so stay away.
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u/Standard-March6506 5h ago
Aluminum would like a word.
Aluminum was once so scarce that it was considered a precious metal. So much so that the Washington Monument in DC is capped in Aluminum. Once it became plentiful, it lost most of its value.
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u/ericmorgan13 5h ago
It would also require the discoverer to share… ask Elon musk how well he and bezos share.
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u/factoid_ 4h ago
Why nobody is investing seriously into asteroid mining is beyond me. It's insane the amount of mineral wealth out there.
I'm aware of the cost of getting mass to orbit and the complexity bringing it down to earth. But we're running out of many resources on earth, and there's so much just sitting out in asteroids that it's ridiculous to even think about doign something like bulldozing yellowstone before you've even TRIED to mine an asteroid
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u/RyokoKnight 4h ago
It would actually improve electronics as it doesn't tarnish like silver, which makes it a hardier conductive material.
Cheaper, hardier, electronics is great especially if we were at the stage where we are mining resources in the solar system and not just those found on earth.
It would not make everyone billionaires though lol.
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u/Murky_waterLLC 4h ago
Tbf, that Would make us all Billionaires, but in the same way any bum on the street can be a Zimbabwe Billionaire.
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u/WrathOfWood 4h ago
So let me get this straight, by thier logic. They see gold on an asteroid and then somehow that makes everyone on earth rich, even though nobody aquired the gold.
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u/210211021 4h ago
That's enough to make everyone on Earth a billionaire. It doesn't mean that I would share it with anyone.
Ok I'm off to buy a pickaxe and a canoe. See you up there.
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u/elmariachi42 4h ago
proposition we shoot off all the economists into space with a big cannon that we bought with the gold from this asteroid and then we all get rich
you know what fuck it, make the whole cannon out of the gold from the asteroid and we would all still be rich, we can melt it later
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u/Kalkaline 4h ago
Oh yeah, someone is just going to go into space, mine an asteroid and then give the people of Earth the gold, yeah right, good one.
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u/RaggedyMan666 4h ago
Gold is actually useless. So are diamonds and all of the paper money in the world. The next economic collapse is right around the corner, wait and see.
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u/-catskill- 4h ago
The reply guy is only correct if we could somehow extract, smelt, form, and ship the gold instantly without cost. However, going into space, getting the gold out and bringing it back then processing it would be an insanely costly and slow endeavour.
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u/wirelessp0tat0 4h ago
Although it would be nice to have unlimited gold as a ressource for its electronics applications
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u/MisoClean 4h ago
Gold would be worth a lot less, certainly but that wouldn’t necessarily make us all poor just the same. Gold is used in so many devices and the reason it isn’t used MORE is because of scarcity and to make things the best with a lot of gold would make them far too expensive. This could have benefits. It would need to thought through.
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