We could gold plate every contact on every cable, we could use it on every electrical contact. forget 'rarity' it's a damn useful metal
this post was submitted on 16 May 2026
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More likely - whichever billionaire mined it (well, funded the mining anyway) would hoard it off the market to keep the value high and make them richer.
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It's funny that people think the wealth from asteroid mining will trickle down.
If anything, it seems like an opportunity for billionaires to have indentured servants who are stuck in outer space mining until their term is up. That’s probably some of the reason they have been investing so heavily in prisons.
It's more silly to me that they think the price of gold would remain high with such a large addition to supply. Most fundamental economic concept apparently escapes some people
Its even more silly to think it wouldn't remain high because a government got to the meteor first and just hoarded the whole thing.
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Gold actually is worthless but humanity has decided it has value. Whats actually valuable is food, water, housing, mental peace, low stress, moral standards etc.
Gold is a actually extremely useful, and has a ton of practical applications where it's not used because of cost. Diamonds, which are supposedly abundant in asteroids, and quite plentiful on earth, on the other hand, can be manufactured in tool grade cheaply, and gem grade can be made for about $300/carat.
Yeah it’s super useful for semiconductors
Gold is an extremely useful metal, WTF are you talking about? Despite its artificially high cost, it still gets regularly used in industrial applications. If it had a more reasonable price, it would be used a ton
It's a good conductor, doesn't corrode easily.
It was also used in medical implants, since it's a pretty inert material ( was, because nowadays there are better biocompatible materials).
At least everything would be covered in gold then. Electronics would be cheaper too.
They'd be cheaper to make.
Then we kill all the billionaires and then they're cheaper to have
It wouldn't make anything cheaper. We owe more on national debt that all our billionaire could even come close to playing, and that is if China have us market value for the after we would need to sell from the billionaire to extract the value.
Money is fake do you not understand that its like a placeholder an idea of obligation it doesn't exist materially even these round metal things are just round metal things the money of them is just calvinball
Your right, so how would getting rid of billionaire change anything? They don't have money, they have stocks and assets
Which are money money isn't the coin its the thing the coin implies stocks are closer to being money than coins in our very class immobile society its closer to a mystical property like phlogiston or being one of the elect a rare collectors pog is a more meaningful money than a penny a nice suit and white skin more money than either
But those sticks, like rooms for example are only trading at 350p/e because of Elon. If we got rid of him it would be trading at 30 like every other car company. That's would wipe out 600 billion overnight. You would get virtually nothing from that extraction and Tesla didn't provide enough profits to solve us hunger or housing, and with the value being extracted the company would unfortunately fall to it's competitors like byd.
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No, that would make a few people incomprehensible wealthy while everyone else starved.
That's where we currently stand.
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Being rich isn't having wealth. It's keeping what has value away from anyone else.
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Not if I get to it first
And that's exactly what every billionaire is thinking.
Everyone “being a billionaire” and having a huge pile of worthless metal won’t increase anyone’s standard of living to the same degree as nobody being a billionaire and nobody hoarding resources.
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I hope palladium and other PGM become worthless so catalyst converters are ok to own
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The biggest value of this meteor is not gold it’s iridium and ironically it’s what we need to explore more other planets because iridium melting point is way higher. Also high precision electronics needs it
enought to make everyone on earth billionaires
How very thoughtful. Hope the present billionaires dont accidentally hoard it.
Naw the new quintillionaires will let everyone have a bit. The biggest change will be adjusting to the new ten-thousand-dollar menu at mcdonalds
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Gold is already worthless, main purpose of gold is that its shiny and pretty, less than 1% of gold mined gets used for electronics and stuff. The rest ist accessoires. The only reason gold costs something is because people think that it is worth something.
Gold does have practical value. It doesn't oxidize or tarnish at standard temperature and pressure, it is soft enough to beat into shape with a hammer and it can be rolled out incredibly thinly. If it were as common as iron, we would see it used everywhere. Gold sewer pipes, gold roofing, even gold foil to wrap your sandwich.
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Hey, I'm game! Oversaturate the gold market and those at the top (including governments) would instantly be knocked down to regular people's level financially!
That being said, if this ever happened, there would be new laws and standards implemented immediately in order for nothing to change... The game is rigged. If the top 1% begin to lose, they just change the rules...
I mean, they'd switch value systems. They've already done that by making "debt" as the unit of value.
Can we send Putin, Trump and a bunch of African tyrants (whatever their names are) there? I bet they would be glad.
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