Nerd here, yes asteroid mining will be much cheaper. Literally all you have to do is attach rockets to the asteroid you want then crash it gently on the moon, then you can mine it at your leisure on a stable surface and railgun it into orbital factories once you've got it done. Drone satellites will take care of everything autonomously. The sea is a way more hostile environment for machines than space is.
Mason Perez
Will silver prices diminish within ten years?
Ayden Martin
Piggybacking to ask for any Schiff memes as well
Parker Brown
The medium of exchange is the tool that facilitates the indirect exchange system, which we created as a solution to the inefficient barter system.
Instead of having to 'sell' the good that you dont want directly for the good you do want to 'buy' (barter), you can now 'sell' the good for another good(the medium of exchange), and then 'buy' the goods and services you want with the medium of exchange.
For this to work, the medium of exchange(money) must be a useful commodity that can retain consistent tangible value and utility, and therefore always have demand from others who are in turn looking to exchange their goods for said commodity (now the means of exchange). One of the most important benifits of this is that the medium of exchange can now act as a 'store of value', where 'purchasing power' can be stored in a commodity that can reliably be predicted to retain value over time.
Many commodities have been used as the means of exchange throughout history, but the free market has determined Gold and Silver suit our purposes for a means of exchange best.
Crypto currency fails as a means of exchange as it is not a commodity with any utility in and of itself, therefore cannot be a store of value. Despite its advantages over commodities in a digital sense, it is still expensive, slow, and not easy to use.
Jace Green
Yes but also no but also yes The soul is connected to the body via a silver string, and this too is a great mystery.
Elijah Campbell
Boomers do. Zoomers are spiritual connected to crypto.
Ryder Lewis
I must point out the despite the beliefs of the crypto investing public, cryptocurrency is still plagued with the primary problem that baseless Fiat money has - and that is not infinite supply cap, but the simple fact that it has no tangible, inherent value in and of itself.
They will argue that its inherent value is that it's a 'superior means of exchange to anything else', but this is folly, and rooted in economic ignorance. It is no surprise, considering for the past 100 years+ the general public has been kept totally ignorant of even the most basic economics i am describing here.
Cryptocurrency certainly is superior to Fiat in its qualities, the most obvious being a limited/predictable supply. But unfortunately this is not enough, and ultimately time will prove it to not be adequate when capital flight flees from crypto and into a genuine store of value, precious metals.
Hudson Jackson
Cheers, that's part of why I was going to rebake. Amateur hour, I know. The gummies are kicking in.
Jordan Reed
I ll believe it when i see the tech be developed, until than its all a pipe dream. Heck even a zero gravity zero fluid ore processing system would get me on board, but since none of that exists yet its basically vaporware.
The hardest part is getting to orbit, which Musk is doing pretty well at. The next step is evaluating asteroids, which will require probes, so that's what you should look out for. I expect those to start coming out once we get serious about a permanent moon base (which means it's decades away, unless it's not, so yeah no need to hold your breath).
Zachary Campbell
What if aliens have their own supply of Bitcoin? We know the universe is infinite, and so there must be intelligent alien life out there who must have their own cryptocurrencies, and are mining their own supply of crypto; that which is far more advanced - more private, better speculations, better uses, better stores of value.
Is "Asteroid mining" code for aliens mining crypto? Once we encounter aliens in the next few years, they will dump on us with alien crypto. Their supply of crypto is literally infinite. And this won't be Bitcoin 2.0, this will be Bitcoin 10.0 they dump us with. All our crypto would go to $0. Especially as Elon Musk takes us beyond the solar system in 2030.
>zero gravity zero fluid ore processing system Pais patents, Pan Man. Anybody who can build an inertial reducer, room-temp superconducter, and a plasma compression fusion reactor can so exactly that thing you just described. Salvatore Cezar Pais. Who is he?
Ethan Bailey
the other bit is space mining wont be really after PMs, it will be after building materials and fuel for space craft and structures. Even so, I dont see us getting into space mining this century.
Carson Martin
Physical gold? No.
Paper gold? No.
Parker Campbell
Glad you enjoyed it.
I do the same thing. Always screw up the previous thread part.
So was that deep sea miner 2 for nautilus? Was it actually built and part of their equipment sold off in their bankruptcy or is that picture just conceptualized?
Tyler Smith
Hey Pan Man how's BGM going? Are you guys drilling next year? Has the resource been roughly defined?
Oliver Wilson
This century? Absolutely we will. Tech is advancing so fast in the last few centuries there'd have to be a catastrophe to stop us from getting to space mining. Musk is serious about getting to Mars, and if you want any kind of regular shipments between Mars and Earth, you need a moonbase and space-based factories and supply chains. We'll get there for sure.
Carson Phillips
it exists, as well as at least 4 other machines operated by the company. There currently being sold to a placer gold mining company wanting to operate the equipment off Nome Alaska.
Do you know that hot chick Emily from Bering Sea gold? I saw her at a rock climbing gym in Anchorage a few years ago and she’s a smoke show
Jordan Rivera
there doing well, but unfortunately any employment I was planning with them will have to wait due to covid restrictions BGM has put in place. There currently drilling 4 targets on Cow and Island mountain with the town of Wells inbetween. Their current plans are figuring out how to make the new upper level test drift not cause the town of Wells to sperg out as it will be quite a visual disturbance on the community. Everything else is going as planned. The mill / concentrator is staying where its planned to go, but with a lot of changes so it wont be an eye sour.
Andrew Hernandez
I ve chatted with her at Round Up in Vancouver a few times, shes great. There is no way in hell though you could get me on one of those floating shit shacks in Nome, thats where desperadoes go to die.
What we have seen most is major improvement to existing technology. We need NEW technology. Completely new innovation.
The assumption that 'technology is continuing to advance exponentially' is one of the most naive assumptions widely held today.
Samuel Lee
Sounds like things are chugging along, too bad about Covid though. Thanks for the update.
Aiden Perez
W-what about foreign ETFs? I'm worried that if I keep my money in dollars it'll just devalue. What's the best store of value when you think the market will correct?
Jayden Howard
I think it is, but not in ways people are expecting, which has been the case for a while now, there have been some really big breakthroughs in biology the last decade or so for example.
Jaxon Myers
Its no big deal, just have to wait a few extra weeks is all.
David Cox
it's advancing inward. We're getting better at simulating what we want rather than actually creating it.
