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Science fiction, actual science, history, and personal ranting about life, the universe, and everything

Psyche! Uh, no, sorry, that’s not really how “value” is determined…

October 30, 2020
MThomas

“Artist’s depiction” = “we don’t really know, actually, but isn’t this cool?”

Even more intriguing, the asteroid’s metal is worth an estimated $10,000 quadrillion (that’s 15 more zeroes), more than the entire economy of Earth.

https://www.usatoday.com/story/news/nation/2020/10/29/metal-asteroid-psyche-nasa-hubble-images/6069223002/

Leave it to USA Today—the paragon of journalistic integrity and unvarnished truth reporting—to grossly exaggerate “value.”

Imagine if someone dumped several hundred thousand tons of nickel and iron on the market?

It would immediately make nickel and iron worthless. Simple supply and demand. So it’s not monetary value that is important.

How do we create vehicles and domiciles for a space-faring future while avoiding the exorbitant cost of getting them into space in the first place? It’s the cost and weight of rocket fuel that’s the issue.

Solution: Build everything in space. No need to bring anything back to Earth.

Not needed now. Maybe someday.

No, the “golden asteroid” will NOT make you rich

June 27, 2019
MThomas

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I wrote about this a couple of days ago (based on an article from two weeks prior), but it’s interesting to see random websites suddenly jumping on the “we’ll all get rich!” asteroid mining band wagon. Hey, everybody, let’s copy-paste stuff and not use our brains!

A new article by rt.com even includes two click-bait links to “how gold was formed” that have nothing whatsoever to do with NASA’s probe to (16) Psyche. Of course, we shouldn’t expect any less from an obvious Russian “news” distributor. But in the interests of calling out the bad reporting in this and similar “news” articles spread online recently, let’s give this a hearty smack-down.

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