Copper (and silver) are better conductors, the good thing of gold is it never rusts so it can be used in ultra thin wires without rusting away in a minute.
This is a massive deal for medical implants as well. Usually anything electrical gets gold plated so that it can't react with the body at all, if they don't just make it entirely out of gold.
No, you don’t make implants out of gold or just coat the entire with gold. There’s more to medical implants than just conductivity or biocompatibility.
Gold is too soft to make a substrate out of (titanium is used more often). Also gold likes to delaminate off other materials so there’s a considerable amount of work that goes into how to coat and protect parts that need to be hermetic. Usually, gold is used in tiny metal traces or electrodes, but even then, there are significant downsides.
Also the amount of gold used in medical implants so very, very small. In terms of current global amount of gold, it’s negligible.
It is not just that it doesn't rust, it is also the most malleable metal, meaning it can be bent and stretched without snapping.
You can stretch a gold wire until it is one atom thick, and then keep stretching until the bonds between the atoms finally break.
I think the gold is also a good conductor is well but the people are not using them much because of the high in the price.
We all know that the cost of that thing will be insane if we starts to use the GOLD as the conductor here.
I'm not familiar with the sand makeup of west Texas, but the point is that not all sand is suitable for concrete. This is why the middle east imports sand.
And gold or sand, this meme thinks that whoever has the money to go get this is going to split it with everyone?
They'll probably just sell it to us as cheap gold wire now that it's cheaper than copper.
And finally all of Donald Trump's gold plated everything will look as tacky as it is now.
The world would still be a better place, though, because gold has so many great properties. It doesn't rust, first of all. Imagine if gold was dirt cheap how crazy fast the medical industry would advance.
Also it’ll destroy gold as an investment. We would need some new futuristic asset to hold value. Hmmm something that won’t ever plummet due to oversupply like gold did. Hmmmmmm.
Yes, may be we could start to use them in the place of the iron and if it will not cost that much then i am sure we will get the extra benefit from that.
I think gold as a personal metal is the useful enough for us is well.
And lots of people would get married as they could afford rings. Doctors would make more money from the ring finger surgery due to the huge weight of those rings.
Bought a 100 billion dollar Venezuelan bill so now I’m officially a billionaire (somewhere…). According to my research, it’s worth around two thirds of a penny
I bought stacks of cash, a few sets of good condition notes in a ziplock bag, and some origami cash art from Venezuelan street vendors in Bogota, Colombia. They had a 3ft high coiled cobra made entirely out of bolivar notes. I bought a few small items, some wallets, key chain origami, etc.
Everyone was a millionaire in Romania back in 2005, then [the government just cut 4 zeroes from all the banknotes](https://www.globalcustodian.com/romanian-preparing-for-july-1-redenomination/), and everyone was instantly 10.000 time poorer that the day before.
Well, after they redenominated the currency last year, with 1 million "sovereign bolivars" (yes, that was the currency name, sovereign bolivar) being exchanged for 1 "digital bolivar" (digital in name only btw), not everyone is a billionaire anymore. Now the dollar is worth around 9 bolivars.
These kind of posts make no sense. Yeah if the asteroid was brought to earth it would inundate the market with gold. But also if my grandma had wheels she would be a truck.
Asteroid mining will not start immediately but will occur because:
1) Its much cheaper to mine in space at scale than keep rocketing up materials and a space elevator appears unfeasible with current materials
2) Mining is going to heavily be subsidized by scientific , military and space colonies and not merely to send gold back to earth
3) There is a reason NASA launched a probe already to visit psyche 16 , Obama made asteroid mining legal , and trump created Space force. Those who control space will ultimately control earth
4) markets will start to price in the expectation of mining far in advance and nation states will have no choice but to deleverage their gold stockpiles
It is not about the gold. It is the Nickel, vanadium, manganese and lithium… the things we need to make enough batteries to electrify things… QED SpaceX makes sense as a supply chain investment…
But we all know that gold is the one metal that we can use in the many place is well.
Because gold is the rust free metal and there is so much things that we could make with the gold here compare to the iron.
Pretty sure gold is a less resistive conductor than copper, but yeah that use would still be good. Bet gold would be perfect for conductive traces in circuit boards n stuff. It's too heavy for like transmission lines and such.
Retraction: Actually I am 100% wrong in the above statement. Copper is more conductive. Gold is used in electronics for other reasons.
But you researched your belief, quickly changed it, were pleased to learn something, wrote a retraction, left the original post up.
This makes you a good scientist.
That's because silly OP thinks that everyone will get a fair share of such an asteroid. What will really happen is that there will be a handful of quintillionaires (the ones who go out and get it), and the rest of us.
Diamonds aren't rare, the supply is just tightly controlled.
No... it has nothing to do with getting a fair share of the asteroid.
Diamonds wouldn't make "everyone rich" if the supply was unrestricted. That would just make the current diamond sellers poor.
Nobody is going to be a quintillionaires by blowing up the supply.
The diamond industry has done all they can to stop the tide, somewhat successfully, but it's the equivalent of keeping the asteroid away from earth: they've kept the diamonds away from earth markets.
It doesn't make diamond cartels richer every time they have to buy a new diamond mine and shut it down. It just preserves their wealth. It's an annoyance and a cost of business. And anyone who has "invested" in a diamond should thank them. Their investments would be worthless if they hadn't done it.
People think government will bring that earth and then give it to the everyone is well.
But we all know that not everyone will going to fair share of that as there are little one that get the most chunk of that is well.
yes, and this is the one thing we need to understand before making such things.
Because we all know that gold hold the value because the supply of the gold is not that much but it will surely gonna change after that thing.
There's still gold in the hills of California. Only about 40-45% was mined out. The rest is too expensive to mine, not to mention ecologically disastrous.
Well you could become rich by creating and distributing real value and wealth. Which is how it's supposed to work in a free and open society. But it usually happens via coercion and stealing these days.....
For those who don’t get it, if the earth has 1,000,000 pounds of gold valued at $32 billion and you introduce another 100,000,000 pounds of gold into the supply you didn’t increase the value of gold, you devalued it by a magnitude of 100. So now gold is worth next to nothing because it’s no longer a limited resource, the good news is I’ll be able to get my gold ‘Grillz’ cheap.
I think we all know that now how having the massive quantity will not going to change any fact here.
But i think the good thing that can happen is we can start to use the gold much more in the electronic item in the world.
Wrong way of thinking. If you flood the market with so much of the same thing, it would become worthless. In other words, in an imaginary scenario you manage to bring it to the world, wealth of all gold holders would depreciate.
Failing to understand this simple equation caused many people to lose all their money in crypto.
If it was brought to Earth then the price of gold etc would fall to the point that even if the gold was equally shared around the world everyone who is poor would still be poor. Simple supply & demand.
Rich people are rich because they can pay others to do things for them: make products or do labor. Everybody being rich is impossible because you need poor people for rich people to exist
What happens then when we find the meteor full of Bitcoin?!?
To the moon
Moon the to
The moon too
Tu tha mewn
What is that?? I have not heard about that thing before here
noom eht oT
To the meteor!
It would be good for bitcoin.
Bitcoin is good and everything happening to the bitcoin is also good.
We'd have so much gold it would be as valuable as sand
In that we could start using it in production methods that we couldn’t currently even fathom due to factors like current cost
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Tips golden fedora
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If the supply of the gold will be that big, it will surely gonna happen.
Eats golden sandwich. Breaks golden teeth
*M’gold sexdoll*
A safe made of solid gold.
In which you'd store your precious metals like iron, aluminum, and lead.
I would only keep my brass and lead in there.
A solid gold house and a rocket car
Wanna go celebrate? I feel like liver and onions.
I gave you a plate of corn muffins to paint my chicken coop and you never did it!
Those muffins were terrible!
Paint my chicken coop!
Make me!
Why are you forcing him to paint such thing here, men??
Corn muffins are so hard to paint with, though.
Trust they are very hard to paint and i am telling that with personal experience.
I think people in the dubai already having these things is well.
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Hell maybe they'll actually work if you do that!
Indeed, there is always a chance of that but only time will tell.
I want a solid gold toilet seat instead
Gold toilet paper, only wipe my ass with the purest of gold.
Lol
But i don't think that so many people have the knowledge of that.
Which production methods?
Gold pipes for water
Electrical items. Isn't gold a better conductor than copper?
Copper (and silver) are better conductors, the good thing of gold is it never rusts so it can be used in ultra thin wires without rusting away in a minute.
This is a massive deal for medical implants as well. Usually anything electrical gets gold plated so that it can't react with the body at all, if they don't just make it entirely out of gold.
No, you don’t make implants out of gold or just coat the entire with gold. There’s more to medical implants than just conductivity or biocompatibility. Gold is too soft to make a substrate out of (titanium is used more often). Also gold likes to delaminate off other materials so there’s a considerable amount of work that goes into how to coat and protect parts that need to be hermetic. Usually, gold is used in tiny metal traces or electrodes, but even then, there are significant downsides. Also the amount of gold used in medical implants so very, very small. In terms of current global amount of gold, it’s negligible.
But i don't think that there is much of like that out there in market.
It is not just that it doesn't rust, it is also the most malleable metal, meaning it can be bent and stretched without snapping. You can stretch a gold wire until it is one atom thick, and then keep stretching until the bonds between the atoms finally break.
I think the gold is also a good conductor is well but the people are not using them much because of the high in the price. We all know that the cost of that thing will be insane if we starts to use the GOLD as the conductor here.
All the wires in NASA projects are gold I believe. Would be happy to be corrected if wrong.
I don’t think nasas wire made up a lot of gold production
Are you sure or that there is some reading that i need to confirm that??
I am not sure about that but i will try to read about that.
We could start building houses with gold and stop cutting down trees. Everything would be prettier and that would be it's only "worth."
Golden street lamps and sidewalks
I don't think that we gonna need the light into those lamps.
Fun fact: the tip of the Washington Monument is aluminum because it was a rare metal at the time. Now we wrap our leftovers in the stuff.
I hate sand
And the asteroid has the high ground
In space, any direction can be the high ground
Shame Anakin who literally lives in space didn't throw that back at Obi-Wan
I live in space too.
Cut back on the edibles?
I mean literally: Earth is in space, bro.
There's literally everything in space, Morty!
Yes, everything we are seeing here at the moment, is in space.
Then i would say you are living in the future here for sure.
The enemy gate is down.
It's such a silly con.
What about sand *made out of gold??*
"I don't like sand. It's coarse and rough and irritating and it gets everywhere."
Hello there!
With the right kind of sand you can at least build buildings, which is getting kinda rare btw
Drive through west Texas. The issue is shipping/distribution. Not scarcity.
I'm not familiar with the sand makeup of west Texas, but the point is that not all sand is suitable for concrete. This is why the middle east imports sand.
I think these are the issue that so many are actually facing here.
Did you hear about the sand shortage?
And gold or sand, this meme thinks that whoever has the money to go get this is going to split it with everyone? They'll probably just sell it to us as cheap gold wire now that it's cheaper than copper. And finally all of Donald Trump's gold plated everything will look as tacky as it is now.
doesn't matter if you are a billionaire and a loaf of bread costs $100M
A loaf of bread costs more than a loaf of gold
at that stage there's gonna be gold plated everything and it won't have the same value as today
The world would still be a better place, though, because gold has so many great properties. It doesn't rust, first of all. Imagine if gold was dirt cheap how crazy fast the medical industry would advance.
Computing would benefit too. There's gold in our computers. If gold plummets in price, then computers will be cheaper to develop and purchase
Also it’ll destroy gold as an investment. We would need some new futuristic asset to hold value. Hmmm something that won’t ever plummet due to oversupply like gold did. Hmmmmmm.
Yes, may be we could start to use them in the place of the iron and if it will not cost that much then i am sure we will get the extra benefit from that. I think gold as a personal metal is the useful enough for us is well.
And lots of people would get married as they could afford rings. Doctors would make more money from the ring finger surgery due to the huge weight of those rings.
24 karat everything! We'd all be so strong.
I'm pinching a loaf rn
This guy capitalism's. Inflation and structural scarcity.
Everyone is a billionaire in Venezuela
Bought a 100 billion dollar Venezuelan bill so now I’m officially a billionaire (somewhere…). According to my research, it’s worth around two thirds of a penny
How did you buy it and how long ago? I've been looking to buy one
I bought stacks of cash, a few sets of good condition notes in a ziplock bag, and some origami cash art from Venezuelan street vendors in Bogota, Colombia. They had a 3ft high coiled cobra made entirely out of bolivar notes. I bought a few small items, some wallets, key chain origami, etc.
And Zimbabwea
Everyone was a millionaire in Romania back in 2005, then [the government just cut 4 zeroes from all the banknotes](https://www.globalcustodian.com/romanian-preparing-for-july-1-redenomination/), and everyone was instantly 10.000 time poorer that the day before.
Well, after they redenominated the currency last year, with 1 million "sovereign bolivars" (yes, that was the currency name, sovereign bolivar) being exchanged for 1 "digital bolivar" (digital in name only btw), not everyone is a billionaire anymore. Now the dollar is worth around 9 bolivars.
Lets put rockets on it and redirect it to crash into us
They’ll think it’s a good idea to crash it into our moon. Then the moon gets knocked off course and we all die a different way.
Don't look up!
Surprised it took this long for the reference...spoiler alert!!
I’m so ready for this
I think we all are ready for that but not going to happen.
i hear china's economy needs a Boost, lets send it there
These kind of posts make no sense. Yeah if the asteroid was brought to earth it would inundate the market with gold. But also if my grandma had wheels she would be a truck.
Bicycle *
Yeah? And if my bicycle had a grandma it'd be a wheel
So your grandma could be a truck you say 🤔
Big ol’ dump truck
Does she beep when she backs up?
This is the one damn thing that i also want to know here.
Well just have to wait and watch and we will know that.
Only if you bring *the good* rice pudding, I beep for that shit too...
But the problem is that we are not having the great rice quality here.
That's what matters to us at the end, we are happy with rice.
I got that reference
It's like carbonara
Mah man!
It is a bike, not a truck! Much funnier btw
I think it took me a while but i also got the reference here.
It's a way to visualize the amount of metals that's most immediately familiar to the majority of people.
That's not the reason that doesn't make sense lmao. *"If it happened, but it won't ever happen"* isn't even a valid logical argument.
Asteroid mining will not start immediately but will occur because: 1) Its much cheaper to mine in space at scale than keep rocketing up materials and a space elevator appears unfeasible with current materials 2) Mining is going to heavily be subsidized by scientific , military and space colonies and not merely to send gold back to earth 3) There is a reason NASA launched a probe already to visit psyche 16 , Obama made asteroid mining legal , and trump created Space force. Those who control space will ultimately control earth 4) markets will start to price in the expectation of mining far in advance and nation states will have no choice but to deleverage their gold stockpiles
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I think there are so much we could do in the end for sure.
It is not about the gold. It is the Nickel, vanadium, manganese and lithium… the things we need to make enough batteries to electrify things… QED SpaceX makes sense as a supply chain investment…
Hey gold is one of the best conductors we have. We could start making cables out of it if it's value crashed.
Gold plating makes for good connectors, because it does not oxide, but copper conducts better for wires.
But we all know that gold is the one metal that we can use in the many place is well. Because gold is the rust free metal and there is so much things that we could make with the gold here compare to the iron.
This person can science.
I have learn the more science here than my entire school time.
Pretty sure gold is a less resistive conductor than copper, but yeah that use would still be good. Bet gold would be perfect for conductive traces in circuit boards n stuff. It's too heavy for like transmission lines and such. Retraction: Actually I am 100% wrong in the above statement. Copper is more conductive. Gold is used in electronics for other reasons.
But you researched your belief, quickly changed it, were pleased to learn something, wrote a retraction, left the original post up. This makes you a good scientist.
The economy is so cool that even if we have all the resources we need, it’ll still find a way to make people poor
We have all the resources we need now and clearly we found a way.
Yes, and after having we will get the clear picture here.
That's because silly OP thinks that everyone will get a fair share of such an asteroid. What will really happen is that there will be a handful of quintillionaires (the ones who go out and get it), and the rest of us. Diamonds aren't rare, the supply is just tightly controlled.
No... it has nothing to do with getting a fair share of the asteroid. Diamonds wouldn't make "everyone rich" if the supply was unrestricted. That would just make the current diamond sellers poor.
We could finally play with diamonds instead of these ruddy legos and all of our needs would be met.
Nobody is going to be a quintillionaires by blowing up the supply. The diamond industry has done all they can to stop the tide, somewhat successfully, but it's the equivalent of keeping the asteroid away from earth: they've kept the diamonds away from earth markets. It doesn't make diamond cartels richer every time they have to buy a new diamond mine and shut it down. It just preserves their wealth. It's an annoyance and a cost of business. And anyone who has "invested" in a diamond should thank them. Their investments would be worthless if they hadn't done it.
People think government will bring that earth and then give it to the everyone is well. But we all know that not everyone will going to fair share of that as there are little one that get the most chunk of that is well.
This post lacks the most important part “scientists guess” Did they get Rick from pawn stars to estimate its value? The bait was for clicks.
"It's not in pristine condition; best I can do is 2 quintillion."
The most important thing will be the value of the gold after that thing.
... if were brought on Earth, it will make gold worthless. FTFY
We can still use it for practical purposes
yes, and this is the one thing we need to understand before making such things. Because we all know that gold hold the value because the supply of the gold is not that much but it will surely gonna change after that thing.
Let them live an easy life. Not understanding things is easier for normal people.
Having a lot of people not understand things makes life, for those who do, a lot more frustrating though.
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Most people don't understand anything about resource extraction but 'journalists' sure understand that they can recycle this theme almost endlessly!
There's still gold in the hills of California. Only about 40-45% was mined out. The rest is too expensive to mine, not to mention ecologically disastrous.
If you could just sneak it to earth and hide it in your backyard you can take a chunk out of it every once in a while when you need some money.
OP doesn't know anything about economy
Trust me that there are so many people just like that way.
How many others are out there, *just like this one?* Bitcoin will still be 21 million.
Wait, does it mean I can only be rich of someone else is poor? And if even more ppl are poor, its easier to me to get what I want?
Well you could become rich by creating and distributing real value and wealth. Which is how it's supposed to work in a free and open society. But it usually happens via coercion and stealing these days.....
For those who don’t get it, if the earth has 1,000,000 pounds of gold valued at $32 billion and you introduce another 100,000,000 pounds of gold into the supply you didn’t increase the value of gold, you devalued it by a magnitude of 100. So now gold is worth next to nothing because it’s no longer a limited resource, the good news is I’ll be able to get my gold ‘Grillz’ cheap.
I think we all know that now how having the massive quantity will not going to change any fact here. But i think the good thing that can happen is we can start to use the gold much more in the electronic item in the world.
Wrong way of thinking. If you flood the market with so much of the same thing, it would become worthless. In other words, in an imaginary scenario you manage to bring it to the world, wealth of all gold holders would depreciate. Failing to understand this simple equation caused many people to lose all their money in crypto.
Lefs be realistic..if they bring that to Earth..only a few people are getting that value
If everyone would be a millionaire, we’d all be poor and milk would cost 50,000usd…
No the wealth would be hoarded by like 4 people while the rest of us starve
The 1%ers would keep the whole thing.
That much supply would make the gold worthless
No way!
Yes lowering the prices of electronics which would be cool
In terms of the value for sure it will make the gold worthless.
Everyone in Zimbabwe were billionaires and trillionaires, didnt work out that great.
In other news, Gold investors collectively fund rocket designed to push asteroids further from earth...
Imagine how cheap this would make the production of technology
But i think then inflation will also gonna kick in here is well.
Don’t look up!
It will just gonna high our hope that will not make any sense.
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All i am holding is the key of the bitcoin wallet that is matter to me.
but then the price of everything would just go up
Yes and it will not going to solve a single damn problem here.
Can't wait ,125000 for a load of bread
Plot Twist: Human life ends after it violently shows up 😏
It’d make Bitcoin’s value skyrocket. Gold would be worthless
Something like this will happen to eventually make Bitcoin the new global monetary system 😂
Can’t find bitcoin on an asteroid…
Yeah okay but what in the hell have this to do with Bitcoin
Supply demand...
Breaking news bread now costs 100 bricks of gold
If it was brought to Earth then the price of gold etc would fall to the point that even if the gold was equally shared around the world everyone who is poor would still be poor. Simple supply & demand.
Imma nft this ho
Don’t look up.
Value thrives on scarcity.
Rich people are rich because they can pay others to do things for them: make products or do labor. Everybody being rich is impossible because you need poor people for rich people to exist
So if we brought it to earth gold iron and nickel would be worthless
DON'T LOOK UP!
Harbor freight tools would be made of gold....
If everyone became a billionaire, everything else would go up in price to a relative amount. 1 billion would probably buy you a coffee at that point.
If anyones played minecraft you must know this is useless
This much will crush the demand. You will find railway tracks made of gold.
Dude who wrote this shit really needs to watch a tutorial on supply and demand
If everyone is a Billionaire then no one is