Space Mining Can Make Everyone Billionaire On Earth

  • Space

Giant Asteroid In Space Crammed With Gold & Other Precious Metals

An asteroid in space that crammed with gold and enough precious metals to show everyone on Earth into a billionaire is being studied by NASA.

The asteroid – referred to as 16 Psyche – features a mass of but 1% of our moon and it contains tons of platinum, iron and nickel alongside the gold. The combined total value of all those precious metals would equal out at something like $700 quintillion.

If you brought it back to Earth and divided the profits equally, it might make all 7 billion folks a billionaire repeatedly over.

Sadly enough, it’s an economically impossibility. The combined World Economy is £59.9 trillion – so injecting several quintillion (a one with 18 zeroes behind it) into it might cause the entire thing to return crashing down.

Logistically speaking, bringing back the entire asteroid would take some doing. It’s currently sitting out there somewhere between Mars and Jupiter.

Psyche measures about 140 miles across and NASA has known about it for a short time . The space agency is getting to launch a craft in August 2022 to go to the asteroid. The plan is to arrive there by 2026 and spend 21 months in orbit, conducting a full study of the space rock with equipment like an Multispectral Imager, a gamma radiation and neutron spectrometer and a magnetometer.

Of course, this is able to only be for scientific purposes – NASA isn’t looking to form money off the asteroid at the instant .

But others are convinced that mining asteroids is that the next big thing.

‘It’s subsequent boom industry. Once you found out the infrastructure then the chances are almost infinite,’ Mitch Hunter-Scullion, who founded the UK-based Asteroid company after leaving university, told the BBC.

‘There’s an astronomical amount of cash to be made by those bold enough to rise to the challenge of the asteroid rush,’ said Hunter-Scullion.

The Asteroid company plans to start out mining operations in space by 2030.

Meanwhile NASA thinks 16 Psyche may have formed through collisions of planets during the formation of the Solar System . Exploring it could tell scientists how the Earth’s core was formed.

Deep within rocky, terrestrial planets—including Earth—scientists infer the presence of metallic cores, but these lie unreachable below planets’ rocky mantles and crusts,’ NASA explained.

‘Because scientists cannot see or measure Earth core directly, Psyche offers a singular window into the violent history of collisions and accretion that created terrestrial planets.’

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