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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It's funny that people think the wealth from asteroid mining will trickle down.
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
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.
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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.
You fool, the tax payers will fund it. The billionaire will merely provide the shell companies to channel government funding through, in return for some sizeable dark money political donation kickbacks that will enable whatever crooked politicians who allowed such theft to occur to absolutely flood the airwaves with propaganda at every election cycle.
“The mine owners did not find the gold asteroid, they did not mine the gold asteroid, they did not mill the gold asteroid, but by some weird alchemy all the gold from the asteroid belonged to them!”
Bill Haywood
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 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
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
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.
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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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I hope palladium and other PGM become worthless so catalyst converters are ok to own
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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.
Yep, we’d just end up like Zimbabwe was. Where a loaf of bread costed trillions or whatever
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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
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.
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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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 price would lower until it's the same price as it costs to mine and bring it to earth, if that's at all lower than whatever it's currently.
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