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RE: Gold Could Be Done As A Store Of Value Within The Next 100 Years

in LeoFinance4 years ago

Its not really scarcity that gives gold its value its the cost of extraction. If they mine asteroids it means nothing if it costs a trillion dollars to do it. Gold is only in trouble if it becomes cheap and easy to extract loads of it. Its just not going to happen. This idea of space being the next frontier is a pipe dream. Its a baron waste land the sooner we forget about the better.

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Its not really scarcity that gives gold its value its the cost of extraction.

Yeah, I know what you mean. The stock-to-flow ratio.

If they mine asteroids it means nothing if it costs a trillion dollars to do it. Gold is only in trouble if it becomes cheap and easy to extract loads of it. Its just not going to happen.

16 Psyche is not 100% gold. It contains extremely large quantities of other valuable metals, too. I'm talking about mining everything it contains and producing gold as a side stream.

This idea of space being the next frontier is a pipe dream. Its a baron waste land the sooner we forget about the better.

With today's technology, absolutely. This is the reason why I gave it 100 years. I think it would be a mistake to underestimate accelerating gains from technological development. The whole thing would be fully automated, of course. Self-replicating colonies capable of producing anything they need powered by machine intelligence. Once the capability to do it existed, it would inevitably get done. Space is the ultimate high ground.

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Its a baron waste land the sooner we forget about the better.

But.... that would mean having to fix the world that we have - and we are messy children who don't like to clean our room.

yeah i think we should learn to respect it. If we dont and die as a species we deserve everything we get IMO. Only way we conquer the galaxy is if we amalgamate as machines. I do believe they are obsessed with this idea mainly because they want to live eternally or to make us work tirelessly for them. If this does happen Gold and most things here wont mean a thing by then.

I have never understood the desire to beat death, as it destroys the point of life. I think vampire movies are a good indicator of what many would do with eternal life... Hide from life in a high school dating teens, rather than spending eternity solving the problems we face. No wonder people hate them, they take their time for granted, whereas to us it is precious because it is limited. And of course the feeding off us...

I am unsure of we will be able to come together in time to save the conditions we need to survive on this planet, but working toward it is more interesting a life than against it.