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 Replies: 48 / Views: 5,537 |
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Valued Member
United States
75 Posts |
First of all, the financial backing is there. If I recall correctly google is one of their investors (or maybe it was the google CEO? I forget. I'll have to google that, LOL.)
Second, I bet it will happen in less than a decade but even a decade is just around the corner.
It's not the government that is backing it, this is 100% private enterprise. So the weakened space program isn't an issue.
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Pillar of the Community
United States
5862 Posts |
Am I the only one nervous about the thought of somebody trying to move a large asteroid closer to the Earth for mining purposes? I'm assuming it would have to be moved into Earth orbit in order to make the mining feasible. But what if the calculations are off a bit or something goes wrong? Has nobody watched Armageddon?
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Pillar of the Community
United States
808 Posts |
I'm a huge fan of space exploration. BUT...anyone who plans on creating man made "Earth crossing" asteroids for ease of mining is out of their minds. Planetary extinction is not an acceptable cost of doing business.
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Bedrock of the Community
13014 Posts |
Lol barry. Were so far from astroid mining especially on a large scale I don't think we need to worry. Completely agree though if were going to be trying to move them closer we might as well start building under ground cities now.
Miz were just no where close. We can barely land a probe on them much less land a mining machine that can then recover the materials and bring them back. Yes private money is doing it and the finanical incentive isn't even remotely there right now. The amount of money that will have to be poured into it to get something viable is insane, it'll cost 100s of billions if not trillions. They're money is going to travel with some exploration of mining. Its not the 1960s land a man on the moon type effort. Were at least 20 years away minimum and I'd bet we never see it in our lifetime. Remember we were supposed to have flying cars by now.
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Valued Member
 United States
405 Posts |
I ask a question about the price of PMs and now we are talking about space travel. lol  |
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Pillar of the Community
Canada
2019 Posts |
Maybe we thought you meant how low can silver in an asteroid go down... into the atmosphere...before burning up...  |
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Bedrock of the Community
13014 Posts |
See I've been saying PMs can be the death of you  Ive also changed my mind were a lot further than 20 years away from mining asteroids. When were mining planets and have the Star Ship Enterprise Ill say its possible. As for the initial question it can get really low, like a couple hundred dollars low. Its unlikely it would get to silver prices but we had 300 dollar gold for a while and it can certainly return to that. Silver can also shed back to its 4-6 dollar range. There is a slim chance they could get lower if the market gets flooded from people selling if the market normalized and went flat from people cutting their losses after a while, but those early 2000 prices are probably the floor |
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Pillar of the Community
Canada
746 Posts |
Ok, this probably means nothing, but I can't seem to get this number out of my head, so I'm calling it the bottom:  $15.30 But I'm a buyer for any figure under $18!  |
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Pillar of the Community
Canada
2019 Posts |
There are some who say we have already been to every planet and moon in our solar system and beyond in a type of maned craft that only people and "others" in black projects know about.... also they say we have been mining the moon since the 50s...  |
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Valued Member
United States
405 Posts |
I am sure glad that last year when I got into pms and coins I changed my original plan of stacking silver. Somehow (Not quite sure how it happened,  maybe my addictive personality) but I changed my philosophy into collecting (stacking) silver coins with numismatic value.  Actually all coins for that matter. At least this stuff has held its value. |
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New Member
United States
6 Posts |
I like precious metal coins. Seems like there's less risk since they also have collectors value.
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Pillar of the Community
Canada
2019 Posts |
@hobbyguy they are called semi numismatic , some are worth more then others , some hold their value better then others , some are not worth much more then the bars of bullion, if you do some research you will see which ones you might like and which ones you may want to avoid if your intent is for the collectors side of bullion and not just too stack for the sake of stacking.
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Pillar of the Community
United States
1454 Posts |
Quote:
Planetary extinction is not an acceptable cost of doing business. Good point!  |
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New Member
Romania
26 Posts |
They are destroying the PM market with the fiat PM ETF's... I am worried about future price crashes as well... not sure why they would ever want to stop. I don't see any disconnection possibility of the paper market from the physical market.
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Bedrock of the Community
13014 Posts |
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They are destroying the PM market with the fiat PM ETF's No they arent, the ETFs are the only reason PMs arent back to their 2005 prices right now. |
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Replies: 48 / Views: 5,537 |
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Posted 06/28/2013 4:43 pm
